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Small Format, Big Payoffs: Retailers Evaluate Real Estate to Meet Consumers Where They Are — at Home

Retail TouchPoints

In response to evolving consumer behavior, many retailers are pivoting from malls and large-format stores in city centers to neighborhood locations that aim to serve the work-from-home population. Not surprisingly, many have found the data points to residential enclaves in and around cities where consumers live.

Consumer 251
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Omnichannel Retail Index Spotlights 4 Investment Areas

Retail TouchPoints

While consumer expectations have continuously shaped retailers’ strategies, tech choices and best practices, COVID-19 accelerated this rate of change. Finally, “innovative” capabilities would incorporate personalization or tailored results based on consumer context and past behaviors. The result? Loyalty programs.

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Best Buy Shutters Up to 30 Larger Stores as it Shifts Omnichannel Operating Model

Retail TouchPoints

The ongoing shift to smaller formats is in response to shoppers seeking more flexible shopping options, with greater emphasis on digital sales as well as rising real estate and labor costs. Stepping back, we expect the evolution of our store portfolio and operating model to drive sales lift and efficiencies over time.

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Rethinking Post-COVID Shopping: ‘Retailtainment’ and Enhanced Omnichannel Experiences

Retail TouchPoints

I would say by and large that consumer product manufacturers and retailers working in the private label space are finding ways to source products to fill the shelves,” said Melanie Nuce, SVP, Corporate Development at GS1 US during the webinar. “I Omnichannel Means One Channel, Not Two Connected Channels.

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Shoppers and Operators want Malls to Change, Creating Opportunities for Emerging Brands

Retail TouchPoints

As a result of changing consumer behaviors and spending patterns, many retailers are focused on right-sizing their store footprints, especially in shopping malls. As a result, emerging brands, especially those operating primarily online, have a unique opportunity to break into brick-and-mortar by leveraging prime real estate.

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Tanger Outlets to Enhance Loyalty Program with Customer Engagement Solution

Retail TouchPoints

Tanger Outlets will deploy a customer engagement platform from Coniq to better empower its retail partners to deliver personalized and contextual offers to consumers. As Tanger continues its transformation, we believe omni experiences and customer data are critical to serve our retailers and guests alike.”

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Warby Parker Plans 63 Layoffs to Enhance Agility Amid Uncertain Consumer Behavior

Retail TouchPoints

The layoffs will not impact members of Warby Parker’s Lab team or customer-facing retail or customer experience teams. “As This is impacting consumer behavior in every industry, including the optical industry.

Consumer 245