News Briefs

A Canadian travel and lifestyle brand has selected the site for its first brick-and-mortar store in the United States.

Monos announced the signing of a 10-year lease for a location on the ground floor of The Dylan, a luxury apartment building and mixed-use development in Chicago’s upscale Fulton Market neighborhood. Monos is set to open the doors of its 2,800-sq.-ft. store in the spring of 2025, which will offer offer guests a curated food and beverage menu alongside “immersive experiences” designed to engage the Chicago community.

The planned U.S. expansion comes after the brand has begun opening retail locations in Canada, most recently this summer in Toronto’s Little Portugal neighborhood, arriving after the brand opened its flagship store in Vancouver last year. 

The brand was founded in 2018 as a direct-to-consumer retailer and began venturing into physical retail with pop-ups in 2022. At the company’s first retail stores, visitors can find high-end suitcases, bags and travel accessories.

“We are delighted that Monos has chosen The Dylan for its store, a first for this category in Fulton Market which is continually expanding and diversifying retail arrivals,” said Jess Brown, principal of leasing at Sterling Bay, the real estate firm that developed and manages The Dylan. “The speed of leasing we’ve seen across retail, residential and office is proof of the neighborhood’s continued popularity and consistent foot traffic. Sterling Bay will keep working to attract high-quality tenants like Monos to drive Fulton Market forward.”

The 282-unit property opened its doors in October of 2023 and stabilized this August, as it is currently 97% leased. CBRE’s Phil Golding, Todd Siegel, Kim Wiskup and Gianna Bianconi negotiated the transaction on behalf of Monos.

All e-commerce is local for London’s famed Harrods department store.

Harrods is deploying the Global-e e-commerce platform to deliver a personalized, localized online shopping experience for customers in more than 200 markets worldwide. Key features include browsing and payment in local currencies, a range of local and alternative payment methods, shipping offerings, advanced duty and tax calculations and prepayment for a guaranteed final cost of purchase, and a streamlined return process. 

"At Harrods we are continuously expanding our e-commerce presence to deliver memorable experiences to our customers around the world, making it crucial to partner with those who can support our ambitious goals," said Caitlin Innes, chief digital and customer\officer at Harrods. "We have partnered with Global-e to provide a seamless customer experience for both our U.K. and international visitors.”

Leveraging the Global-e platform, Harrods will also manage e-commerce activities such as trade compliance while having access to business intelligence models.

[READ MORE: Harrods opens freestanding beauty store concept]

"We are proud to partner with Harrods, an icon in luxury retailing known for its commitment to unparalleled service and excellence, by powering its international online e-commerce operations,” said Cristian van Tienhoven, CEO of Global-e Europe. “We are enabling Harrods to create tailored and localized shopping experiences for its customers worldwide."

TikTok is not waiting to begin its Black Friday and Cyber Monday promotion and plans holiday livestreams with celebrities including pop singer Nicki Minaj.

The video-focused social media platform’s TikTok Shop U.S. e-commerce site is kicking off its Black Friday and Cyber Monday seasonal campaign with a sale called "Brand Palooza" from Wednesday, Nov. 13 to Wednesday, Nov. 27 (the day before Thanksgiving). Brand Palooza will provide brand-focused exclusive product discounts of up to 55%, including Phillips, Benefit Cosmetics, Liquid IV, HeyDude and The Ordinary Store. 

[READ MORE: TikTok launches e-commerce in U.S.]

TikTok Shop’s Black Friday-Cyber Monday promotion, which runs through Monday, Dec. 2, will also include a series of livestream shopping events on the TikTok Live platform including Nicki Minaj on Sunday, Nov. 24. Other celebrities scheduled to host live shopping events on TikTok Live include social media influencers the D’Amelio family, as well as events from brands including BK Beauty, The Beachwaver and Glamlite.

New products will also launch on TikTok during Black Friday and Cyber Monday, including deals from small businesses. Eligible purchases made from Nov. 13 through the end of December can be returned through Monday, Feb. 10, 2025. This extended return period gives holiday shoppers extra flexibility and peace of mind during the busy holiday season.

"The holiday season is a great time for people to find new products and brands they love, making shopping on TikTok an unforgettable experience," said TikTok in a press release. 

Target Corp. has revealed its extended holiday store hours, which include opening extra early on a key shopping day for retail with an exclusive offer. 

The company said most of its stores will open at 6 a.m. (local time) on Black Friday, which falls on Nov. 29 this year. (For the fifth consecutive year, Target stores will be closed on Thanksgiving Day, Nov. 28. )

Starting on Black Friday, Target will offer two exclusive Taylor Swift releases (available only while supplies last). The items include the official “Taylor Swift/The Eras Tour,” which provides behind-the-scenes look at the making and performance of the superstar’s Eras tour, and "The Tortured Poets Department: The Anthology" album on vinyl and CD.

The items will be available exclusively at Target in stores only on Black Friday. They will become available on the Target app and on Target.com starting Saturday, Nov. 30.

Beyond Black Friday and for the rest of the holiday season, Target is offering extended store shopping hours of 7 a.m. to midnight, from Nov. 30 to Dec. 23. 

“Target is the place to be on Black Friday — and all season long — with incredible deals on thousands of items across every category and exclusive in-store items you'll want to pick up for everyone on your gift list this year," said Mark Schindele, chief stores officer at Target. "With extended store hours, convenient same-day pickup and delivery options and around-the-clock online availability, you can choose when, where and how to shop, and our fantastic team will be there to deliver."

Despite high interest rates for store credit cards, consumer interest in the cards grew during the past year.

The average average annual percentage rate (APR) for a new store credit card is 30.78%, according to a new report from LendingTree’s 2024 Store Credit Card Report. It’s the highest since LendingTree began tracking the rates in 2018. It’s also about a point and a half higher than last year, more than four points higher than in 2022 — and six-and-a-half-plus points higher than in 2021.

Shoppers aren’t letting high APRs deter them from using the cards. Nearly three-in-10 (29%) consumers are at least somewhat likely to apply for a store credit card this holiday shopping season. And 46% of store cardholders say the credit card they use most is a store card. Men are far more likely than women to say so (52% versus 38%).

In other findings, more Americans prefer store cards over buy now, pay later (BNPL) loans. Forty-two percent of Americans prefer BNPL loans, while 58% prefer store cards. However, the younger the consumer, the more likely they are to say they prefer BNPL.

“There’s no doubt that store cards are common across the country,” says LendingTree’s chief credit analyst, Matt Schulz. “Nearly half of Americans currently have a store card, including 15% with three or more. Another 23% say they don’t have one currently but did in the past. That leaves just one in three Americans who say they’ve never had a store card.”

APRs of 30.00% or higher were once a rarity, noted LendingTree.  But currently 30.00% is the norm among store credit cards. Of the 106 cards reviewed, 75% had a possible APR of 30.00% or higher.

Whole Foods Market is expanding its presence in Florida.

The organic grocer will open its new 42,024-sq.-ft. store located in Boynton Beach in Palm Beach County on Dec. 10. The store is the anchor to SJC Ventures’ Boynton Beach Marketplace, a 69,204-sq.-ft. shopping center.

The Boynton Whole Foods will feature over 1,500 local products from 240 Florida-based suppliers. The new location will feature a full-service seafood counter with sustainable options, a specialty cheese department, a curated grocery section, and a prepared foods department with a hot bar, salad bar, and fresh sushi.

The first 300 customers in line on Dec. 10 will receive a custom tote bag and Secret Saver coupon featuring offers up to $100 off.

[READ MORE: Amazon testing small-format grocery store in Chicago]

“This will be a fantastic addition to the Boynton Beach area and we are thrilled to bring a tenant such as Whole Foods Market to the community,” said Jeff Garrison, principal at SJC Ventures at the time of the lease signing in 2022. “Our firm seeks to find regional sites that fit the demographic of specialty grocery stores like Whole Foods Market, and Boynton Beach certainly matches that.”

Part of Amazon’s Worldwide Grocery Stores, Whole Foods Market serves customers in more than 530 stores across the United States, Canada, and the U.K. 

SJC Ventures has acquired and developed more than 60 retail, mixed-use, multifamily and office projects throughout the continental U.S. since 2007.