Consumer Electronics

Sears Holdings’ store portfolio continues to shrink.   The struggling retailer told employees on Tuesday that it will close 30 Sears and Kmart stores in early 2017, reported Business Insider.  

Phase one of a $15 million redevelopment of a 304,755-sq.-ft. neighborhood center in Inglewood, California, has been completed, according to owner NewMark Merrill.   Initial improvements at Crenshaw Imperial Plaza focused on remodeling the DD’s Discounts and 99 Cents Only stores. In Phase 2, a two-story building will be demolished to make room for a Planet Fitness and a 14,215-sq.-ft. retail building. A 15,000-sq.-ft. Mission View Charter School will also be part of the new mix in the center, which NewMark Merrill purchased in 2015.

Instagram’s rapid growth should be music to retailer’s ears.   The Facebook-owned photo and video sharing app has hit 600 million monthly active users, a 100 million user jump in the last six months, according to Recode.   

At its recent I/O 2016 developer festival, Google signaled its intent to embrace artificial intelligence. With Google’s fall release of the Pixel phone and, more important, its Assistant, the transition to an AI-powered future is underway.  

A very tech-savvy retailer retail is expanding its fledgling physical footprint with an eye toward national expansion.    b8ta, which lets people test out products from a variety of tech companies, including many small start-up, has opened a store at University Village, Seattle, along with one at Santa Monica Place, Santa Monica, Calif. Both locations were designed by Gensler, and feature a sleek, modern design.    

From start to finish, many of this year’s biggest retail stories involved mergers and acquisitions as the industry continues to remake itself in a digital age. Here’s a look back at 10 stories that caused big buzz — and were the most viewed  by readers on Chainstoreage.com.

Dollar sales for holiday 2016 are trending lower than last year — with some exceptions — and retailers are partially to blame.   According to The NPD Group’s weekly point-of-sale results for key general merchandise categories across in-store and online channels, dollar sales in the sixth week of the 2016 holiday shopping season  were 5% lower than the same week in 2015. Cumulatively, dollar sales in the first six weeks of the 2016 holiday shopping season were 4% behind the first six weeks of the 2015 holiday season.

Across the United States, cities have been experiencing a development resurgence. Legions of Americans are departing suburbia and returning to urban environments, with millennials leading the migration. Young adults are abandoning the suburban subdivisions they grew up in for denser, more vibrant urban settings. Consequently, once-empty lots, city blocks, and otherwise underutilized properties are being replaced with multi-use buildings that can accommodate new residences, office space, and retail.