News

Redevelopment continues to ignite retail

One of the most fascinating aspects of our ongoing economic recovery is the paradigm shift with respect to commercial development priorities. In the wake of the recession, new development has largely taken a backseat to redevelopment as developers and retailers alike have set their sights on opportunities in core urban markets that have been historically underserved.

By Sunil Mirani, CEO, Ugam

Increasingly, retailers are using ambient lighting to impact the in-store experience. Andrew Peck of Enlighten Luminaires spoke with Chain Store Age about retail lighting trends and the rapidly expanding use of LEDs.

What are the biggest concerns when it comes to illuminating merchandise?

Retailers are most concerned about the way products look, and enhancing the shopper experience.

Where does LED lighting fit into this scenario?

Verizon Wireless has embarked on an ambitious initiative to transform the customer experience across its portfolio of 1,700 company-owned stores. The new strategy emphasizes lifestyle over product and promotes in-store engagement and interactivity.

“We are transforming the focus of our stores from selling devices to enabling customers to discover all that wireless technology can do for their mobile lifestyles,” said Domenico D’Ambrosio, executive director, national retail operations, Verizon Wireless.

Walgreens provided an up-close look at its new location in Evanston, Ill. — distinguished as the nation’s first net zero energy store — during a super-session at this year’s SPECS conference. Initial engineering estimates — which can vary due to the weather, store operations, systems performance and other factors — indicate that the store will use 200,000 kilowatt hours per year of electricity while generating 220,000 kilowatt hours per year.

All eyes were on Texas as Chain Store Age’s SPECS conference celebrated its 50th annual show with an opening keynote by President George W. Bush. The 43rd president of the United States, who participated in a discussion moderated by Walgreens president and CEO Gregory Wasson, was given a standing ovation by attendees.

Real estate is a complex issue no matter what industry you’re in. For retailers, who typically operate on slim margins and are generally the first industry to feel the effects of variations in consumer spending, navigating the tricky waters of real estate can be especially challenging.

Discount retailing has undergone a major transformation in recent years

Toward the end of 2008, it became painstakingly obvious to retailers that impulse spending was out and frugal saving was in. Faced with an imminent recession, staggering job loss and quickly depleting discretionary and savings accounts, consumers began to shift their focus to value. The impact of such a large-scale economic event and an abrupt consumer focus shift would appear to alter the fundamental realities of retail.

Preparation is key when it comes to natural disasters

Landlords and tenants have a new way to connect

Networking isn’t new, but in this day and age of emails and texts, the idea of face-to-face business-building has taken on new importance.