🛍️ Retail Revival: Foot Traffic Trends in Key Department Stores Key Takeaways and Industry Implications Advan’s foot traffic data from January 2022 to May 2024 reveals several key trends in the apparel retail industry: - Resilience of Discount Retailers: TJ Maxx and Ross Stores have demonstrated robust growth, underscoring the enduring appeal of discount retailers. Their ability to attract shoppers seeking value for money remains a significant strength. - Strategic Shifts in Traditional Department Stores: Kohl’s mixed performance suggests that traditional department stores must continuously innovate and adapt to changing consumer preferences. Strategic partnerships and store redesigns can drive foot traffic, but consistent execution is crucial. - Upscale Market Dynamics: Nordstrom’s growth highlights the complexities of catering to upscale consumers. While there is potential for strong foot traffic, it is essential to balance premium offerings with broader market trends. Read more: https://lnkd.in/eRcU87Xe #FootTraffic #Geolocation #Retail
Advan Research Corporation’s Post
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The best things really do come in small packages. Since COVID, the trend towards smaller-format stores has surged, led by retail giants like Macy's and Nordstrom, and embraced by IKEA, Target, Best Buy, and others. What influence do these stores wield over shopper behavior? Delving into consumer data, we examine how Sprouts Farmers Market, Bloomingdale’s, and BJ’s Wholesale Club are leveraging small formats to reshape retail dynamics. Explore their three distinct approaches to achieving success below. Access the full report using the link in the comments. #strategy #retail #consumerbehavior
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Director of Sales “Combining Strategic Vision with a Relentless Focus on Customer Satisfaction & Revenue Generation." Executive Leadership/Sales Execution/Channel Relationships/Account Planning/Presentations
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The best things really do come in small packages. Since COVID, the trend towards smaller-format stores has surged, led by retail giants like Macy's and Nordstrom, and embraced by IKEA, Target, Best Buy, and others. What influence do these stores wield over shopper behavior? Delving into consumer data, we examine how Sprouts Farmers Market, Bloomingdale’s, and BJ’s Wholesale Club are leveraging small formats to reshape retail dynamics. Explore their three distinct approaches to achieving success below. Access the full report using the link in the comments. #strategy #retail #consumerbehavior
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To see just how worldly the UK’s retail landscape has become, we asked Retail Week sister brand Retail Navigator by Lumina Intelligence to reveal the international retailers with the biggest UK sales, and how much they’re forecast to grow over the next few years. https://lnkd.in/e5XEJt-i
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The Tenant Mix Blueprint quantifies the impact of the tenant mix on retailer and property performance. In a unique contribution to retail real estate research, the report also demonstrates how a consumer’s primary visit influences their likelihood to shop at additional retailers in the same trip. For example, over 50% of consumers visiting an apparel retailer as their primary visit will visit a second apparel retailer afterwards. Do you want to know what happens when consumers visit a grocery store? Or a health and beauty store? Read the report to find out: https://ow.ly/Sg6b50TAK2t #ColliersCanada #Retail #TenantMix
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The Tenant Mix Blueprint quantifies the impact of the tenant mix on retailer and property performance. In a unique contribution to retail real estate research, the report also demonstrates how a consumer’s primary visit influences their likelihood to shop at additional retailers in the same trip. For example, over 50% of consumers visiting an apparel retailer as their primary visit will visit a second apparel retailer afterwards. Do you want to know what happens when consumers visit a grocery store? Or a health and beauty store? Read the report to find out: https://ow.ly/rbWZ50TBBLt #ColliersCanada #Retail #TenantMix
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Omni Retail Executive | Strategic Merchandise Planning | Merchandise Management | Talent Development | Collaborative Partnership | Wholesale Sales
Another sign of the changing retail landscape: middle tier retailers are facing tough times as consumers opt for discount and luxury brands. According to a recent article on Modern Retail, many of these retailers are struggling to adapt to this shift in consumer behavior. As consumers become more particular about their spending, it's becoming increasingly difficult for middle tier retailers to keep up. Check out the article to learn more about this trend and its impact on the retail industry. #retail #consumerbehavior #discountbrands #luxurybrands #shoppingtrends
'It's very difficult to play catch-up': Why many middle-tier retailers are struggling
https://www.modernretail.co
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The Tenant Mix Blueprint quantifies the impact of the tenant mix on retailer and property performance. In a unique contribution to retail real estate research, the report also demonstrates how a consumer’s primary visit influences their likelihood to shop at additional retailers in the same trip. For example, over 50% of consumers visiting an apparel retailer as their primary visit will visit a second apparel retailer afterwards. Do you want to know what happens when consumers visit a grocery store? Or a health and beauty store? Read the report to find out: https://ow.ly/RN0G50TEfmm #ColliersCanada #Retail #TenantMix
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The Tenant Mix Blueprint quantifies the impact of the tenant mix on retailer and property performance. In a unique contribution to retail real estate research, the report also demonstrates how a consumer’s primary visit influences their likelihood to shop at additional retailers in the same trip. For example, over 50% of consumers visiting an apparel retailer as their primary visit will visit a second apparel retailer afterwards. Do you want to know what happens when consumers visit a grocery store? Or a health and beauty store? Read the report to find out: https://ow.ly/RbSR50TECwP #ColliersCanada #Retail #TenantMix
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The Tenant Mix Blueprint quantifies the impact of the tenant mix on retailer and property performance. In a unique contribution to retail real estate research, the report also demonstrates how a consumer’s primary visit influences their likelihood to shop at additional retailers in the same trip. For example, over 50% of consumers visiting an apparel retailer as their primary visit will visit a second apparel retailer afterwards. Do you want to know what happens when consumers visit a grocery store? Or a health and beauty store? Read the report to find out: https://ow.ly/RFkS50TEqrZ #ColliersCanada #Retail #TenantMix
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Top Retail Expert | Retail Merchant | Omnichannel Consultant | Educator | Author | Mentor | Speaker | Podcaster | Advisory Board Member | eCommerce Executive
Ahead of financial reports from major off-price retailers, several analysts reiterated the strength of the sector, which tends to do well in up or down economies, with shoppers from a broad income range. These retailers also enjoy a real estate advantage, with most located away from malls in small centers with convenient parking, and are poised to take market share as Macy’s works through its planned closures of 150 stores. #offpriceretail #retailstrategy
Off-price retailers poised to take even more market share from department stores
retaildive.com
Executive Chairman at Advan Research
6moWhere there is hardship (#inflation in this case) there is opportunity. This is the American way — there will always be companies that give the consumers what they need.