Shopping Centers Today

NOV 2018

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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N O V E M B E R 2 0 1 8 / S C T 7 uct and try the product, and it puts a face on the brand." Conversely, when retailers close a store, their web traffic drops off. In one instance, a retailer that closed between a third and one-half of its locations in a market saw its share of web traffic drop by at least 50 per- cent in those areas. Traffic isn't the only benefit phys- ical stores provide, however. The study found that stores boost brand awareness, improve consumers' per- ceptions of brands and make them more willing to identify with, buy and recommend them. When it comes to emerging brands, the sur- vey found that 51 percent of respon- dents were willing to consider them across all markets. But this increased to 69 percent in markets where such brands had physical stores. "You gain brand awareness by hav- ing a physical store," said Dana Telsey, CEO and chief research offi- cer of Telsey Advisory Group. "That's something that you can't rep- licate online." The number of stores in a given market also makes a huge difference. For instance, there is an 83 percent rise in brand awareness when a retail- er shifts from one store for a popula- tion of 3 million people to one store for each subgroup of 1 million resi- dents, the report says. "Physical stores are an essential ingredient to the success of retailers by driving digital engagement and improving brand health," the report says. "Brick-and-mortar establishments also allow shoppers the ability to experience the products they're buying and provide retailers unmatched opportunities to gain in-depth data on consumers far beyond what online shopping allows. … Our report demonstrates why physical stores operating in har- mony with healthy digital channels creates a powerful synergy to help retailers meet their strategic growth ambitions." The researchers studied more than 800 individual stores in 145 U.S. markets encompassing some 222 million people, and polled over 4,000 consumers Q 27% Opening stores Closing stores 47% How physical stores impact web traffic BEFORE AFTER E very shopping center leasing agent wants to persuade digitally native brands to venture into the physical world by means of his or her shopping center. A startup that tracks other startups has just released its inaugural list of the top 50 direct-to-consumer, digitally native, vertical brands on the market. The Lead says it studied hundreds of companies to better understand their business and product-innovation process, commercialization, market opportunities, competition, and investor value creation. To compile the list, The Lead interviewed the founders and CEOs of those enterprises. "These 50 companies, taken together, are a bellwether and leading indicator of the fashion and retail industry's future," according to the study. Allbirds American Giant Away Bombas Bombfell Brooklinen Carbon38 Casper Chubbies Cotopaxi Curology Draper James Drunk Elephant Eloquii Everlane Fashion Nova Frank & Oak Function of Beauty Glossier Greats Goat Harry's Knot Standard Kopari KUIU M. Gemi Madison Reed Memebox Corporation Milk Makeup Ministry of Supply Moda Operandi Nadaam Outdoor Voices Parachute Home Primary QALO Rebag Rockets of Awesome Stadium Goods Stance TechStyle The Black Tux The RealReal ThirdLove True Botanicals UNTUCKit Warby Parker Zenni Optical 50 DIGITALLY NATIVE BRANDS YOU SHOULD KNOW

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