Retailers including Walmart, Best Buy and Toys R Us are offering earlier access to Black Friday deals and bigger perks for loyal customers to compete with Amazon this holiday season. Target is trading its 10 days of deals for weekend promotions during the season to encourage more frequent trips.
Despite the size of its real estate portfolio, Brookfield Asset Management does not have strong name recognition. The company is moving to expand its footprint by focusing on investing in undervalued assets, among other plays.
Revenue recognition, a new accounting standard scheduled to go into effect Jan. 1, will change the way companies around the globe will be able to recognize revenue. "The impact will vary, depending on the individual company, their sector and their business model," said KPMG's Nick Chandler.
Various economic indicators point to a softening in apartment construction in the coming years. Dodge Data & Analytics estimates that construction spending will drop 8% for multifamily projects next year.
With location a key amenity in a student-housing project, developers are getting creative with projects close to universities that can still support the rent students are willing to pay. "We are seeing an increased focus on micro-units ranging from 300 to 400 square feet of space -- particularly in supply-constrained markets, or in markets where there is a higher proportion of international students," says J.J. Smith, president of CA Student Living.
Nordstrom Local, the first showroom-style boutique from the upscale department store, has drawn thousands of customers for manicures, tailoring services and stylist consultations since opening four weeks ago, the retailer said. The shop is one example of a growing trend as retailers turn to smaller spaces and focus on experiences to win shoppers in the digital age.
Most shopping still occurs in physical stores, and holiday retail sales in 2017 are expected to grow by 4% over 2016, to up to $682 billion, the National Retail Federation predicts. However, retailers must still be competitive by offering a better omnichannel presence and by offering consumers a reason to enter their stores beyond value and selection.
Mall owner GGP has debuted a number of changes to Towson Town Center near Baltimore ahead of the holiday shopping season, including the addition of a high-tech parking system and a new entrance. GGP is also working to add a craft beer bar, a millennial-focused shop and possibly office space.
Vancouver Mall in Washington just turned 40 and is remaining competitive by offering more amenities, such as device charging stations, Wi-Fi and family-centric options. The mall has also added experiential options, including a lounge area for the Cinetopia Vancouver Mall 23 multiplex and Mythic Escapes, which has a game-filled escape room.