Feedback
A pioneer B2B media and publication platform connecting with Fashion Brands & Retail in India
 

Return to normalcy to fuel popularity of outdoor shopping centers: Report

  

Return to normalcy to fuel popularity of outdoor shopping centers

 

Consumers’ efforts to return to normalcy will expedite the transition from indoor malls to outdoor shopping centers, says data firm Placer. The firm reports a 34 per cent decline in visitors to outdoor shopping centers during the week of June 8 while visitors to indoor centers declined by 42 per cent. Fall in visitor turnout at traditional malls was fueled by more department stores and traditional mall chains closing or declaring bankruptcy, such as Neiman Marcus, J. Crew, Brooks Brothers and JCPenney.

Lockdowns and subsequent new safety protocols further accelerated this trend with many enclosed malls around the country either not yet being reopened or being shuttered. In New York City, Gov. Andrew Cuomo nixed plans to let indoor malls reopen when the city entered into Phase 4 of reopening last month. Just last week Neiman Marcus announced that it would vacate its Hudson Yards location, opened in March 2019, while closing three other U.S. stores.

According to retail data firm Coresigyht Research, the outlook for retail is grim. A June 2020 study estimated that US retail will see 20,000-25,000 closures in 2020, a significant increase from the company’s previous estimation of 15,000 in the early days of the lockdown. Of those closures, Coreseight Research anticipates 50-60 per cent to be mall-based and expects that this could “prompt an overdue rationalization of mall space.”

Already, some indoor malls are converting to fulfillment centers, offices and open air offerings. Westfield Valley Fair in San Jose, CA just unveiled a new open-air pop-up market, which will run until the middle of August.

In the wake of this, landlords who focused on outdoor malls, cited less of a dropoff in foot traffic than anticipated after their developments reopened in recent months.

LATEST TOP NEWS
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

Apparel demand to recover in FY22: Ind-Ra

Apparel demand to recover in FY22: Ind-Ra

     India Ratings and Research (Ind-Ra) estimates a demand recovery for the apparel sector in FY22 while it expects 40-45 per cent decline in FY21 revenues. As per a Live Mint... Read more

Indian e-commerce industry to grow to $200 billion by 2026

Indian e-commerce industry to grow to $200 billion by 2026

    Indian e-commerce industry is expected to grow to $200 billion by 2026 recording double digits growth YoY, says a Financial Express report. This growth has primarily been driven in very... Read more

Amazon-Future feud sparks foreign vs local debate

Amazon-Future feud sparks foreign vs local debate

  The legal spat between Amazon.com Inc and Reliance Industries over the Reliance-Future deal has invoked a xenophobic fervor amongst watchers by sparking a foreign vs local debate. Amazon has accused... Read more

Festive sales reach 65 per cent pre-COVID growth levels

Festive sales reach 65 per cent pre-COVID growth levels

     This festive season, sales of major fashion brands touched 65-70 per cent of their pre-COVID levels. While overall trend through the COVID period was towards casual wear, consumers shopped bit... Read more

Second wave threatens post-festive demand for apparels

Second wave threatens post-festive demand for apparels

    As the second wave of COVID-19 threatens to devastate India’s top cities, consumer goods manufacturers are closely monitoring its impact on post-festive demand. Retailers of apparel, electronics and packaged consumer... Read more

Required: An urgent resizing of Indian sizing charts

Required: An urgent resizing of Indian sizing charts

    In January this year, the Kerala government introduced a ‘fat tax,’ on certain food types not suitable for consumption. The tax aims to curb consumption of unhealthy foods in India.... Read more

Apparel industry celebrates a lackluster Diwali as companies shy away from bonus…

Apparel industry celebrates a lackluster Diwali as companies shy away from bonuses

     For the Indian apparel industry, Diwali was not a fun affair as it used to be till last year. As per Apparel Resources, around 40 to 45 per cent factories... Read more

Consumer confidence to boost spending across categories: McKinsey

Consumer confidence to boost spending across categories: McKinsey

     As per a new McKinsey survey, Indian consumers’ newfound optimism would result in increased spending across categories in the months to come. The survey found most consumers have been trading... Read more

Retail sales expected to increase: Indian Terrain

Retail sales expected to increase: Indian Terrain

     In a recent media interview with exchange4media.com, Charan Narsimhan, Managing Director, Indian Terrain has said, he expects the retail industry to improve slowly and with the festive season, sales are... Read more

Puma to expand store network in India

Puma to expand store network in India

     Sportswear brand Puma plans to open around 10 brick-and-mortar stores in India in the coming 45 days as well as a number of shop-in-shops, reports Fashion Network. These Pop-up stores will... Read more

MOST POPULAR NEWS
Go to top

Follow Us On:

Face BookDealersForYou

TWDFUpublications

LNDFUpublications

YouTubeDFUpublications

 Copyright © 2020 DFU Publications. All rights reserved.