Value Retail News: August, 2009

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Value Retail News

AUGUST 2009


COVER STORY

Give Me Your Shoppers
International shoppers who venture to U.S. shores contribute an estimated $38.6 billion annually to the U.S. economy and are highly sought by outlet center marketers, including Chelsea Property Group, Prime Retail, Taubman Centers and Miromar Development.

Luxury Rides the Economy
The wave of luxury brands seeking a presence at top outlet centers could represent a sea change in the way shoppers buy high-end merchandise.


FEATURED COVERAGE

What Consumers Are Thinking
Everyone’s wondering where consumers’ heads are – they’re apparently getting persnickety about their e-retailing experiences as they play the need versus want game. As the new frugality leads to cautious spending – one third say they’re definitely spending less – women say they won’t give up buying new shoes and purses.

Planned Projects and Expansions charts
If you’re planning to attend the VRN Fall Outlet Retail Convention next month in New Jersey, this chart outlining the basics of 38 planned projects totaling nearly 12 million sf of outlet GLA in 22 states will be a good cheat sheet for you, as will the chart on page 19 showing five expansions totaling a half million sf. A contact from each planned project and expansion responded to VRN with details and updates for the 2009 Global Outlet Project Directory, so as of mid-July, the information was current.

RECon recap
Thirty thousand shopping center executives met in Las Vegas in May for the annual ICSC shopping center convention. The outlet sector was well-represented in the leasing mall and during the outlet session, “It’s All About the Brands.” In the session, six outlet executives from around the globe spoke of their experiences on what makes the industry unique and how it maintains its edge. And good gossip flew around the hall.

Glowgolf is, like, WOW
Glowgolf is miniature golf with a twist, a blend of groovy 1960s blacklight technology and Day-Glo colors with the Depression-era diversion of miniature golf. The artful concept has been installed at 15 shopping centers across the nation, and it is proving to be mom and dad’s favorite mall babysitter.