The Taubman Company’s Post

National chains are accelerating their exit from malls for other types of #retail #locations, signaling more trouble for #malls as #consumers show a growing preference for shorter, more convenient #shopping #experiences.

Many of you have probably noticed brands you used to see predominantly in shopping malls now opening freestanding locations (e.g. Cartier, DOLCE&GABBANA, Hermès, Dior, etc.) Reasoning for doing so includes the brands wanting more control over their image and customer experience. They want their customers to see a beautiful store front, not an outdated mall when they arrive to shop. The trend doesn't stop with luxury brands, as can be seen in the The Wall Street Journal article referenced below. All brands seem to be experiencing success in their non-mall locations. Not only do these brands receive the benefit of storefront visibility, but also increased foot traffic from the contingent of shoppers who value other convenience related benefits afforded by shopping centers. "Consumers show a growing preference for shorter, more convenient shopping experiences." It is not just that people want a place to pop in and out quickly for a last-minute purchase, it goes deeper than that. "Outdoor shopping and strip centers also appeal to retailers who are increasingly allowing customers to pick up or return items bought online, CoStar's Svec said. These shoppers want to get in and out of stores quickly, and not spend time navigating large parking garages or walking across the mall." At Headwall Investments, LLC we have been following this trend for years now. Our investment funds are well positioned to offer our high-net-worth individuals, family offices, RIAs, and institutional investors exposure to benefit from these trends. Contact us if you want to hear more about these trends and others. Sam Peacock | Henry Vaughan | George Wommack

Shoppers flock (again) to malls #shoppingandtheretailindustry #malls #mall #shoppingmall #thegoldsteingroup #retailrealestate #retailtrends #njrealestate #newjerseyrealestate

National chains are accelerating their exit from malls for other types of retail locations, signaling more trouble for malls as consumers show a growing preference for shorter, more convenient shopping experiences. "Jewelers, shoe stores and other specialty retailers are among the operators making the shift, indicating they will continue opening at outdoor, non-mall locations such as grocery-anchored shopping centers and strip malls after finding that they perform better and typically save on costs." I've linked the full WSJ article here: https://lnkd.in/eD-_PkU6 #commercial #commercialleasing #realestate #atlanta #development #retailrealestate #retailleasing #news

✨Seeing stars: Brick-and-mortar retail store growth is being backed by celebrities and their brands. Over 76% of celebrity-backed retail brands have chosen shopping malls as the homes for their brands. While many of these brands started online, the progression to brick-and-mortar has been a recent pattern uncovered in a report by JLL. Celeb brands such as Kristin Cavallari's Uncommon James and Fabletics by Kate Hudson started online, then moved to wholesale partnerships with retailers, followed by pop-up stores, and then to permanent locations. Stars, they go to the mall, just like us. Read more about mall growth via Retail Dive: https://bit.ly/3sq02YK Image via Seattle Met. #brickandmortar #shoppingmalls #onlinestores #retailstore #retaillife

Mall visits in the U.S. have decreased by 4% in 2023 compared to the previous year and a staggering 12% from 2019 levels. Major brands like Bath & Body Works and Foot Locker are leaving malls in favor of more convenient retail spots. #Customers are looking for shorter and more accessible #shoppingexperience , and #retailers are adapting by analyzing #onlinesales #data to choose the best #locations for their #stores . Outdoor shopping areas and strip centers are becoming increasingly popular with quick and easy access for customers. It's clear that #consumerbehavior is changing, and retailers are taking note. The future of malls is uncertain, but the industry is steadily evolving to meet the needs of modern #shoppers . #RetailTrends #ConsumerBehavior #AdaptingToChange https://lnkd.in/dGhWp2gV

Retail chains are leaving malls and opting for other retail locations at a faster pace, which is not good news for malls. This trend is driven by the growing preference of consumers for more convenient and shorter shopping experiences. Specialty retailers, shoe stores, and jewelers are also moving to non-mall locations, such as grocery-anchored shopping centers and strip malls, after discovering that these locations perform better and save on costs. 🔗 Access the full article here: https://lnkd.in/gDn_Qf6E #legacylendingpartners #shoppers #malls #cre #commercialrealestate #commercialrealestatenews

Retail chains are leaving malls and opting for other retail locations at a faster pace, which is not good news for malls. This trend is driven by the growing preference of consumers for more convenient and shorter shopping experiences. Specialty retailers, shoe stores, and jewelers are also moving to non-mall locations, such as grocery-anchored shopping centers and strip malls, after discovering that these locations perform better and save on costs. 🔗 Access the full article here: https://lnkd.in/gipVCbCx #legacylendingpartners #shoppers #malls #cre #commercialrealestate #commercialrealestatenews

Retail spaces - both malls and parks - are still dominated by the fashion industry sector. But a new star category has emerged - mixed goods retailers. While they might account for only 12% of deals, the floorspace they occupy overall has grown by over 30% from 2022 to 2023 according to Cushman & Wakefield. ⭐ Brands such as Pepco, Miniso, and Flying Tiger - with their cute, affordable goods and timely collaborations - have managed to strike a chord with consumers. With inflation and rising costs being able to soothe your soul without breaking the bank seems to be the secret behind their charm. #ParkLaneDevelopments #commericalrealestate #retail #NumbersLane