J.C. Penney’s recent issues highlight a trend that I’ve been seeing for some time—retailers placing more of an emphasis on finances and real estate while focusing less on the customer. Retail used to begin and end with the customer, but for many brands, it’s clear that customers are no longer the focus. In this edition of my Retail Rap column, I take a look at some brands who could benefit from shifting their focus back to customer satisfaction, and brands who are already doing this very well. Retail isn’t about just selling goods that customers want or need. Now, it’s also about the experience that customers get in stores, too.
Archives for August 2013
What Vornado’s 655 Fifth Ave. Buy Means for Manhattan’s CRE
Gail Kalinoski/Commercial Property Executive—Vornado Realty Trust has grabbed another prime Fifth Avenue location just as the retail rents there are passing $3,000 per square foot, paying $278 million for a majority stake in 655 Fifth Ave., a retail and office property with 50 feet of frontage on Manhattan’s Fifth Avenue. Vornado, a Paramus, N.J.-based REIT, […]
Crate & Barrel plans holiday ‘pop-up’ store in Mall at Green Hills
Ghetan Ward/The Tennessean—Household furnishings retailer Crate & Barrel plans to open a holiday-themed pop-up store inside The Mall at Green Hills, which, if successful, could lead to its first permanent brick-and-mortar location in Tennessee. The pop-up store is among four that the company plans nationwide. “This is the first time we’ve done this,” said Vicki […]
What not to wear when you shop
Quentin Fottrell/MarketWatch—When trying to land a job, most experts say one should look their best. When trying to land a deal, however, experts say it sometimes pays to look like a schlub. Just ask Oprah Winfrey. Asked why a sales clerk at the Trois Pommes boutique in Zurich declined to show her a $38,000 Tom […]
Consumer the Biggest Loser in J.C. Penney Drama?
Fox Business—Jeff Green, President and CEO of Phoenix-based Jeff Green Partners, a leading consultant in retail real estate feasibility, shares his thoughts with Fox Business about how the internal shake-ups with JC Penney are affecting consumers, and what the brand can do to improve sales and regain consumer confidence.
Consumers turn to dollar stores for cheap, convenient options
Annalisa Rodriguez/Indianapolis Star—Zandra Jones finds herself making a trip to Dollar General almost every day for one thing or another. She is one of the many shoppers that retail experts say are looking for cheaper, more convenient options after the great recession. Jones lives just half a block from the store, where less than 100 […]
