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☆ Turning a tiny fraction of America's dead strip malls into housing could create 700,000 new apartments
▼ + stars: | 2023-11-03 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Old or vacant strip malls offer a promising opportunity to create much-needed new housing. A new report found that converting 10% of strip malls into housing could create 700,000 new homes. Urban planners and developers across the country are pushing a fix for both: converting strip malls into housing. But when it comes to strip mall conversions, finding the right property to redevelop is the bigger challenge. And older strip malls are often costlier to maintain than to tear down and redevelop.

Persons: —, Ahmad Abu, Khalaf, It's Organizations: Service, Enterprise Community Partners, International Council of Shopping Centers, Sears Locations: Ahmad, Cities, Abu, Santa Ana , California, Irondequoit , New York

☆ The US mall is making a comeback as retailers leverage digital marketing
▼ + stars: | 2023-08-20 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +9 min

The mall as a retail concept is alive and well, with retailers pivoting to fit the demands of a digital age. A shopper carries retail bags while walking through a shopping mall in Columbus, Ohio, U.S., on Friday, Dec. 10, 2021. A socially conscious generation acutely aware of climate change, Gen Z is also more likely to support brands prioritizing sustainability. That in-store experience is so critical.”People stroll through a shopping mall in Foxborough, Massachusetts, on May 18, 2023. “There has been a rise in ‘experience-focused’ tenants in shopping malls that offer experiences like go-karting, trampolining, virtual reality, and arcades,” said ICSC vice president Stephanie Cegielski.

Persons: Coresight, ”, Deborah Weinswig, Brandon Isner, CBRE’s, Kirsten Lee, ” It’s, ” Coresight, Tal Yellin, Isner, Luke Sharrett, Stephen Yalof, Warby Parker, Allbirds, Al Drago, Lee, Gen, Gen Zers, Erin Clark, it’s, Stephanie Cegielski, Covid, “ Organizations: New, New York CNN — Retail, Coresight Research, Retail Research, Brookfield Properties, “, Simon Property Group, Taubman Centers “, Tanger Outlets, CNN, Bloomberg, Getty, Tanger, Washington , D.C, International Council of Shopping Centers, “ Social, Boston Globe Locations: New York, Americas, Brookfield, Nashville , Tennessee, Chelsea , New York, Columbus , Ohio, U.S, Georgetown, Washington ,, ’, Foxborough , Massachusetts

☆ Online brands and companies like Nike are going old-school and returning to brick-and-mortar department stores
▼ + stars: | 2023-06-19 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +3 min

Online brands like Warby Parker and Allbirds are also opening brick and mortar shops. Brands that have moved away from department stores and physical shops in recent years are now pivoting back to traditional retail tactics after experiencing first-hand the difficulty of acquiring and retaining customers directly online. And they're not alone: even digital-first brands like Warby Parker and Allbirds have also opened new physical storefronts. A recent study by UBS predicted that retail stores would continue to close over the next five years and estimated that 50,000 shops would disappear by 2028. Nike has also recently announced that it's expanding partnerships with other physical retailers like Designer Brands and Foot Locker after years of steadily cutting its wholesale relationships.

Persons: it's, Warby Parker, Allbirds, —, they're, Simeon Siegel, Noble, Locker Organizations: Nike, Service, Brands, Journal ., Interim, Getty, BMO Capital Markets, International Council of Shopping Centers, Ross Stores, Barnes, Body Works, Walmart, UBS Locations: Macy's, Burlington

☆ Gen Z likes shopping in stores just as much as they do online, survey finds
▼ + stars: | 2023-06-09 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Gen Z are a tech-savvy generation but they like shopping in physical stores just as much as online. A new survey found that Gen Z like being able to see, touch and try a product before buying it. A new report by the International Council of Shopping Centers surveyed 1,008 people aged 16 to 26 about their shopping habits and preferences. It found that although 95% of Gen Z like shopping online, just as many (97%) also enjoy going to the mall. Gen Z are voracious shoppers with social media encouraging young people to buy new clothes regularly.

Persons: —, Gen, Gen Z, it's Organizations: Service, International Council of Shopping Centers, Maxx, Walmart, Marshalls, Target, Social, Sheffield Hallam University Locations: Zara, England

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