Department Store

Over the last decade, the retail industry has evolved substantially. E-commerce continues to outpace brick-and-mortar strategy, dramatically changing the way consumers shop. Accommodating new consumer preferences requires brands -- from corporate executives to field managers to in-store associates -- to communicate, and regularly evaluate the in-store customer experience.   

Watch out millennials, Gen Z is coming on strong.   With Generation Z expected to comprise 40% of the North American population by 2020, retailers must address the needs of this generation and understand its purchasing power in households, according to a survey conducted by HRC Retail Advisory.  

Eloquii, a fashion-forward online apparel retailer for women sizes 14 to 28, plans to test a physical store.   The retailer plans to open a “concept shop” in Fashion Centre at Pentagon City in Arlington, Va., Women’s Wear Daily reported. The 2,600-sq.-ft. store is scheduled to open in March.     Although only a three-month lease was signed, Eloquii executives see the store as a test to determine the potential for a brick-and-mortar strategy, the report said.

Nordstrom is giving shoppers a new way to earn loyalty points.   As of Friday, Jan. 20, Nordstrom Rewards members will earn points toward Nordstrom Notes when they use their Nordstrom credit and debit cards at the chain’s Trunk Club division, a personalized styling service for men and women, offering both virtual and in-person shopping options.   Additionally, Trunk Club will waive its $25 home try-on fee when shoppers order curated trunks of clothing using their Nordstrom card. 

A mixed-use project with 103,000 sq. ft. of retail in the western suburbs of Chicago has been purchased by Retail Properties of America for $88 million.   Main Street Promenade, a town center style development in Naperville, is 93% leased and includes tenants such as Ann Taylor, Sur la Table, White House | Black Market, and Anthropologie.   

Hubert Joly, chairman and CEO of Best Buy, denied a report that has him taking the helm of a European retailing giant.    A report by Reuters, which cited Brazilian newspaper Valor Economico, said that Carrefour, the world’s second largest retailer, had identified Joly as a replacement for its current CEO, Georges Plassat, whose term ends in May 2018.     

In its latest move to stay afloat, Sears is scrapping its associate discount program in favor of a new concept.    Sears’ employee discount program, which gave employees money off purchases at checkout, is transitioning to a service that will reward asso-ciates with points through the chain’s Shop Your Way loyalty program. The change, which will impact all active Sears Holdings associates, spouses and eligible dependents, is set to launch on Sunday, Jan. 29.  

Though General Growth Properties has long been most commonly known as GGP in the retail industry, the big mall owner has now made it official.   Effective Jan. 27, the big mall owner with 126 properties in 40 states, officially changes its name to GGP. Founded in 1954 to develop grocery-anchored strip centers, GGP evolved into one of the largest providers of A-level mall space.