Rather than reaching for their wallets, shoppers will soon be completing many of their purchases by waving their wrists in front of scanners. The brains built into wearable devices allow purchases to process securely, quickly, and easily. But don’t expect it to be a fad: a recent report from Tractica found that worldwide wearable payment transaction volume will balloon from $3.1 billion in 2015 to more than $500 billion by 2020.… Read More
Whether you’re running a shop, or a shopping center, finding the time to stay up to date on the latest technological advances is often a pipe dream; a nice-to-have, but a hard-to-have as you work to keep normal operations running at maximum potential.… Read More
What does it take to be a leader? In our industry, leadership depends in part on anticipating market trends. When you can foresee the needs of consumers, you can equip your commercial tenants with the resources necessary to provide the best customer experience.… Read More
Retailers are well acquainted with their customers’ request to “charge it!” when they’re buying goods and services. But now “charging it” has taken on new importance for retailers at Kimco’s Westlake Shopping Center in Daly City, Calif. We’ve just installed an NRG eVgo Freedom Station on the first floor of the center’s parking garage, enabling customers to quick charge their electric vehicles (EVs) while shopping at the wide range of retailers at the center.… Read More
Modern day retail is a classic yin and yang. The yin of brick-and-mortar stores is interwoven with the yang of online shopping. Together, these two complementary components create the omni-channel retail shopping experience.
Gone are the days of simply walking into a store, trying on an outfit or testing out a new product, and then determining whether or not to make a purchase. New in-store retail technologies can now help shoppers make that decision by combining the perks of online shopping with a traditional brick-and-mortar experience.… Read More
You’ve likely heard the letters EMV by now. Standing for Europay, Mastercard, and Visa — the three companies that pioneered this smart chip credit card system — EMV is a more secure way to use payment terminals that are already in place in much of the world.… Read More
In a report on Asian American consumers released late last year, Nielsen projected that the buying power of this sophisticated, savvy portion of the population will reach a staggering $1 trillion by 2017. Stoking an upward trend, the Asian American community currently numbers nearly 19 million and is the nation’s fastest growing multicultural segment.… Read More
After joining some industry peers for a recent Bisnow Retail Real Estate Summit panel discussion in San Francisco, it appears the REIT industry has consensus on several important business challenges and opportunities in the Bay Area.
While at this year’s International Council of Shopping Centers at (ICSC) RECon conference, I ran into Steve Hockett, President of Great Clips, a hair salon which has enjoyed healthy growth and loyal patrons. Great Clips typically sets up shop in neighborhood or community shopping centers, Kimco’s sweet spot, and the chain currently has 57 locations throughout our portfolio.… Read More
We’ve been witnessing the disruption that technology has been having on retail, but what was once something that created anxiety is now creating tremendous opportunity, and retailers are now actively embracing these opportunities. Just last quarter, Macy’s invested billions of dollars toward a new effort that, in part, encourages shoppers to use their mobile device to search for and purchase apparel in its stores, while others have turned to virtual reality to create a next generation retail experience.… Read More
Every consumer wants to find quality products at a good value, and delivering on those basics is the foundation of any successful store or shopping center. But it takes a great shopping experience to make customers want to stay on-site longer and return more frequently.… Read More
Kimco joined 40 organizations two weeks ago at the Drive the Dream event hosted by the California Plug-in Electric Vehicle Collaborative in San Francisco. Calif. Gov. Jerry Brown led a round-table meeting with some 50 business leaders, including myself, who shared their corporate commitments to social responsibility, and specifically, their pledges to support the plug-in electric vehicle (PEV) market.… Read More