Mass Merchant

In the wake of a disappointing quarter, Target Corp. is making long-term investments in its future.   The discounter plans to spend $7 billion in cash during the next three years as it lowers its prices and invests in its stores, with renovations planned for some 600 locations, reported CNBC.   "We can't capture that market share if we're presenting an old, tired store," Target CEO Brian Cornell said.  

With just over 50 stores, Quincy Mall is hardly the biggest regional center in the nation, but it’s a big deal in the rural Mississippi River town of Quincy, Illinois, just a skiff’s ride from Mark Twain’s hometown of Hannibal, Missouri. And it was big news in Quincy when the J.C. Penney in the Cullinan-owned property closed shop.  

In the course of interviewing experts for this month’s open-air report, I heard two admiring references to Woodbury Common. It wasn’t the first time I’d heard the Simon Premium Outlet center used as an exemplar of traits modern retail should strive for — things like great customer experience, well-curated stores, and good food. I thought it time that I take a drive up to Orange County, N.Y., and see what all the fuss was about.

A record 68% of the U.S. population will make at least one purchase via a digital channel in 2017.    That’s according to eMarketer’s 2017 Retail Outlook, which projects another strong year for digital growth. The report forecasts that e-commerce sales will increase 16.0% in 2017 to $462.17 billion, while total retail sales will grow 3.5% to $5.01 trillion.  

Walmart has updated its mobile app with features that provide for paperless transactions for pharmacy and money services customers.   The upgrades will allow people using the chain’s pharmacies and money services to complete paperwork online via their smartphones and skip ahead of other customers when they get to the store by using new designated “express lanes” in those areas.   

Apple’s Spaceship to Land

Apple will open its highly anticipated new campus in April. Dubbed Apple Park, the site is located on a 175-acre site in Cupertino, Calif.

The heart of the campus is a futuristic, ring-shaped, 2.8 million-sq.-ft. headquarters building that’s clad entirely in panels of curved glass. Designed in collaboration with Foster + Partners, Apple Park is powered by 100% renewable energy. With 17 megawatts of rooftop solar, the campus will run one of the largest on-site solar energy installations in the world.

A regional department store, a warehouse giant, a discount supermarket and an online powerhouse rank among the nation’s favorite retailers.    That's according to the American Consumer Satisfaction Index, which rates consumers’ satisfaction across six retail industries. The report found that satisfaction with the overall retail trade rise 4.7% in 2016 to a score of 78.3 (on a 100-point scale) an all-time high for the sector.  

Two big retail names, Dollar General and Abercrombie & Fitch, recently unveiled new store formats that differ dramatically from their traditional concepts. Here’s a look at their new initiatives:

Dollar General

One of the nation’s fastest-growing retailers is putting the focus on convenience, targeting a new demographic with a smaller-store concept called DGX.

Dollar General debuted the new format, which has 3,400 sq. ft. of selling space, in Nashville, Tenn. A second location is set to open in Raleigh, N.C.