The Repurposed, Revitalized and Redeveloped Shopping Center
May 22, 2019 | Natalie Dolce | GlobeSt.com
LAS VEGAS—“The store is really the core strategy for both physical and digital growth.” That is according to Laurie Mahowald, VP of real estate at Target Corp. She was one panelist who spoke on a repurposed and revitalized panel at ICSC RECon here in Las Vegas and said that two years ago, when many were saying physical stores were dead, Target invested.
“We invested in our team, launched new brands, remodeled them and are on pace to remodel 1,000 stores by 2020,” she said. That remodel instills an enhanced in-store experience, she said, but it also helps utilize the box for fulfillment strategies.
“We use our stores as fulfillment where we can deliver products to our customers faster,” she explained, pointing to buying online and picking up in store, as an example. “We have also double downed to our smaller format in dense urban areas. We are investing in our physical strategies and all of the strategies can work together and not at the expense of each other.”
Best Due Diligence meeting in the industry. No sales pitches, senior level decision makers, meaningful discussions and the Broker Dealer networking sessions were especially useful. Thanks to Blue Vault for raising the bar!