Friday, July 15, 2016

Pokémon Go Is Good Business for Small Businesses

Pokémon Go users gotta catch ’em all—and small businesses are taking advantage of their obsession with the viral smartphone game.

The augmented reality app, which soared to the top of download charts over the weekend, uses location tracking and cameras to help users capture animalistic characters from Pokémon, the Japanese cartoon franchise. It’s sent users wandering into the streets and parks in search of Squirtles and Blastoises to add to their Pokédex.

The app has also caused ambitious trainers to seek out their local pizzeria or coffee shop, many of which have been designated as Pokéstops where players can replenish on supplies, or as gyms, where they can train characters for battle.

Pokémon Go has created a huge opportunity for local businesses, and they’re already capitalizing on the app’s wild popularity. Some businesses are paying the app a $10 daily fee to purchases lures, or items that attract users, for their store to drive foot traffic. At L’iniozio, a pizzeria in Long Island City, Queens, the manager paid to lure a dozen Pokémon characters into his establishment. The restaurant’s manager, Sean Benedetti, told the New York Post that the shop’s business spiked by 75% over the past few days....

Read the entire article courtesy of Time:

Thursday, July 14, 2016

Retailers, Start Your Engines: Back-To-School Is on the Horizon

The July 4th fireworks may be over, but the retail fireworks are only about to begin as stores gear up for a back-to-school selling season that's all the more crucial after recent weakness.
The coming weeks should see fresh campaigns from the likes of JC Penney, Old Navy and Kohl's. Though all three brands told Ad Age they will market the back-to-school season, they have yet to divulge specific plans.
Sales for the back-to-school period, the second-most important shopping time of the year, are expected to rise a modest 2.6% over last year, according to eMarketer. After a lackluster holiday season and a first-quarter bloodbath across retail, clothing retailers in particular have their work cut out as consumers shy away from apparel in favor of experiences and electronics...

Read the entire article courtesy of AdAge:

Wednesday, July 13, 2016

Female Buying Power

Forbes recently estimated that women drive approximately 70 to 80 percent of all consumer purchasing. This estimate and other reports have led many experts to consider the female demographic the engine of today’s economy. Women are buying products for their professional lives and for the home and family, which means that behind most women lies a whole network of consumers. To stay competitive, retailers should constantly reinvent their strategy for selling to this demographic. Revisit core questions like, “What kind of products make their lives – and the lives of the people they are buying for – easier and more efficient?” And then, “What are the hottest trends in technology, color and fashion that will help them personalize their experience?” As we move into the back half of 2016, here are a few key tech categories that will enhance the lifestyle of the female consumer – and that come with stylish options for personalization....

Read the entire article courtesy of Dealerscope:

Monday, July 11, 2016

Small Businesses Shake Up the Mix at Local Malls

When a 4,000-square-foot space opened up at Town Center Corte Madera, an open-air shopping center near San Francisco, Colliers International had a choice. The brokerage firm could seek out another large tenant to fill the space, or divide it into two less-expensive locations that would be friendlier to small businesses.

After parsing through sales data and noticing a spurt in small-business revenue, Colliers opted to split the space in two, leasing out one half to a local salad and sandwich joint. Since opening at the center in 2013, that San Francisco-based restaurant's sales per square foot have increased 5 percent annually, to $1,800 a square foot.

"They're performing far stronger than a restaurant tenant that we have there in 5,000 square feet that's national," said Anjee Solanki, national director of USA retail services at Colliers.

The Corte Madera property is not alone. With sales growth at small-business retailers outpacing that of their larger competitors nearly every month over the past four years, landlords are looking more favorably at mom-and-pop tenants than in the past....

Read the entire article courtesy of CNBC: