The start of each new year is a time for new beginnings and opportunities. After singing our rounds of “Auld Lang Syne” and clinking our glasses to ring in the start of 2023, the retail industry can shift its focus on how to best perform during this new year with the same sense of celebratory vigor. 2023 will continue to see similar trends from 2022 in consumer behavior, but with economic inflation and talk of a potential recession, there is always an increasing need to meet the current demands of shoppers while adapting to the market.

 

According to Forrester’s “Predictions 2023: Retail Report,” the strongest companies will be what they deem asfuture-fit.  This means they will “leverage technology that enables their company to quickly reconfigure business structures and capabilities to meet future customer and employee needs with adaptivity, creativity, and resilience.” The following predictions can help businesses prepare for what’s ahead in 2023 and adapt to the rising consumer trends. 

 

 

Brick-and-mortar stores will continue to thrive as online sales decrease

In what Forrester has dubbed the “e-pocalypse” of retail, brands that rely solely on their online presence will falter during 2023.  They predict that 75 percent of U.S. retail sales in 2023 will take place in stores, with a rise in online orders that have the option for in store pickup. For this upcoming year, it’s essential that businesses ramp up their brand’s physical space as we resort back to our pre-pandemic buying behaviors.

 

Prepare for automation and AI to assist in retail labor shortages

Retailers are still continuing to face challenges in finding employees, and this is unlikely to change in the near future. However, a strategic approach to automation and AI can help smooth over this difficulty for businesses. Store owners can consider investing in self-checkout stations or use digital platforms to assist in online customer service or task management. The insight from AI can help personalize products for consumers through data collection and image recognition (with shopper consent). Compiling these details can also help AI to serve as a personal shopping assistant to cater the experience specifically to the individual. Small advancements can go a long way in managing otherwise tedious projects and save time and money for the company. For the employees that you do manage to hire, don’t forget to help them feel a sense of healthy fulfillment and appreciation in working for your small business. 

 

Curated personal shopping experiences will flourish

Customers tend to make regular visits to a brand that makes the experience for each shopper feel both unique and valuable. In order to continue attracting repeat shoppers, brands should promote discounts and promotions to their loyal VIP members. Paying attention to shopping trends within your own store merchandise and stocking up on similar items will help shoppers feel important in contributing to your store’s overall goals and aesthetic. The past few years have seen tremendous success in immersive concept store experiences, such as the community-drivenNike Livepop-up stores. Generating an event, or temporary exhibit to help customers interact with your products, helps to generate a culture for your brand and a much stronger, lasting impact on your shoppers than a simple visit to the store.

 

E-commerce will thrive through social media

As stores use social media to build community and interest in their brand, 2023 will see a continued drive in sales through these platforms. Beyond the basic advertising a company can do for their store, brands can livestream their products, partner with influencers who promote their merchandise, and generate shoppable advertising. Cue social commerce, the ability for a full shopping experience to take place entirely on social media apps. According toForbes, “[i]n 2021, global social commerce sales reached $492 billion, but it is expected to nearly triple by 2025 to reach $1.2 trillion.” Taking advantage of these platforms is no longer just an added benefit for company sales, but a requirement.

 

Reviews and ratings will carry more weight 

Because retail trends tend to rely on digital engagement, that means even with increased in store shopping, consumers are likely to look up products online before making a commitment. According to a poll led byIntelligence Node, 41% responded that reviews and ratings are the most prominent factor in determining if a purchase will be made. It’s important to encourage reviews from your customers, but also to engage with them when they potentially find a problem or disappointment. It’s equally as important for customers to see how a store handles these minor setbacks. It builds further trust that the brand is an advocate for the consumers and is willing to go above and beyond to find solutions. 

 

In Conclusion

As the retail industry continues to adapt to an ever-changing society, the most important aspect to remember is for brands to stay true to themselves and their core values. Today’s consumer wants honesty and transparency, whether it be their search for sustainability, a brand that aligns with their own efforts in activism, a sense of community, or happiness in the quality of an incredible product. Showcasing the essence of the brand will always help carry your business forward. To help make this process easier, add in those efforts to advance with the latest technologies and trends to help your business succeed in 2023.

Reinventing Retail: Industry Predictions for 2023

Maybe you want to get dressed up for New Year’s Eve or you prefer to celebrate in the comfort of yourown home. Regardless of where you welcome the new year, these are some of the go-to fashion looksto consider:

 Sequins: A quintessential NYE look! Wear a sparkly dress or pantsuit to that party and embrace

the sequins.

 Strappy dresses: New Year’s parties are the best time to whip out the strappy, backless dresses.

Black, gold, champagne – look for a dress in this color scheme to take your holiday look to thenext level.

 Chic pajamas: Staying at home doesn’t mean you can’t get dolled up (in comfort). Wear some

luxurious and cozy pajamas to ring in the new year.

Statement jewelry: Instead of buying a new outfit, consider splurging on a piece of statement

jewelry that will dress up any look instantly.

Silk: Shift dress, pantsuit, pajamas – silk is comfortable and adds to the luxury factor at any New

Year’s festivities.Get ready for your New Year's parties and celebrate in any of these essential pieces!

Must-Have Fashion for New Year’s Parties

As we find ourselves inching closer to the final stretch of the holiday season, shoppers are scrambling to find those perfect gifts for loved ones. Occasionally, before all can be merry and bright, the shopping search can be stressful and frustrating. This is where small businesses can swoop in and make all the difference for holiday shoppers in transforming the experience.  

 

When customers shop in store,  businesses can create a memorable experience and establish a genuine personal connection that can’t be achieved while shopping online. Here are five ways to bring holiday cheer once again to customers to create a successful December shopping experience: 

 

Provide impeccable customer service

Kindness and compassion should always be at the heart of each holiday season, and the holiday shopping experience should be no different. Customers remember the stores where employees treat them like family. Beyond the notable friendly and helpful staff, consider what extra touches your store can bring to each guest that reminds them of the quality of customer service your team provides. Try to remember regular customers by name, assist them in finding the perfect gifts by asking for details on who they may be shopping for, provide product samples if they’re hesitant to commit, and bring on that free gift wrapping. 

 

Personalize the shopping experience

Consider hosting VIP-only sales or shopping events. This could include opening the store early or closing late for VIP customers who sign up for a customized shopping experience in the store. Let the VIP invite a small group of friends and be prepared with a sign that welcomes them by name as well as with treats to share. To attract even more VIPs who may not be able to commit to a specific time, simply having special discounts for these loyal customers during the entire month can entice them back for a visit to your store. Overall, the goal is to make every customer, even if it’s their first time in the store, feel like a special guest. Bring opportunities to make every visitor feel seen and important. Make a wall display that lets customers write something they’re grateful for this holiday season to display, help them sign up for your email list, and remind them of upcoming promotions so they will jump at the chance to return.

 

Use social media to highlight in-store exclusives

Social media posts are great for reminding customers of daily deals and promotions that can be found both in store and online, but don’t be afraid to take pictures of your seasonal displays and proudly show off the ambiance that can only come from visiting the store. Is there certain merchandise that flies off the shelf so quickly that it can only be purchased in person? Are certain daily deals offered for in store shoppers only? Perhaps shopping in the actual store can provide customers with a bounceback offer valid for their next return. While shopping online is certainly convenient, remind shoppers why the personal touch of shopping in person can be even more beneficial in the long run.

 

Partner with other stores

Holiday shoppers are more than likely going to need to visit multiple stores. You can help them have a more meaningful experience by partnering up with other local shops to create cross-promotional offers. If you want to be even more festive, consider a scavenger hunt that requires visits to multiple stores with a promotion or prize at the end. Multiple stores can also join together in creating a holiday bundle that includes a bestseller from each store. These kinds of deals will help drive traffic to all of the nearby businesses and help every storefront be successful during the shopping season. 

 

Build relationships 

When it feels like a brand truly listens to and values its customers, it creates a lasting relationship. Take feedback from customers, notice trends in sales to restock important items, send out birthday emails to frequent shoppers, and express gratitude with every person’s visit. Customers appreciate transparency and honesty in their shopping experience as well, and the trust you establish will help you create a loyal following of shoppers.  As busy as everyone is, sending handwritten cards to your VIP customers to show your appreciation will remind them of how important they are to you!

 

In Conclusion

In the same way that the holidays are a time to relax with loved ones, the prior shopping experience should be able to attract just as much joy and care for everyone involved. While shoppers are always hoping for convenience, it’s the true connection that only an in store shopping experience can bring that will transform their holiday shopping experience. Let’s make it a memorable one!

5 Ways to Improve Your Customer Experience This December  

As winter approaches and images of hot cocoa, snuggling up in cozy blankets, and snow begin to swirl around, so begins our planning of the inevitable last-minute holiday shopping season. For the small business owner, this is both a nerve-wracking and exciting time. With a little preparation, and some extra teamwork, any worries of chaos can easily transform into cheer.  As exciting as the impending sounds of a busy store may be, businesses need to be as prepared as possible for the increased customer presence. Here are some strategies that can help you feel as ready as possible for the month ahead:

 

Prepare your staff

It’s important that your employees are prepared to greet the influx of shoppers during this holiday season. You may also need to hire seasonal employees to help with the demands of greater foot traffic and potential extended hours. While this can be a huge help to full-year employees, it’s essential to train your new hires early and ensure they continue representing your store with impeccable customer service. Make sure everyone is prepared with the knowledge of seasonal holiday promotions you plan to roll out and possible additional services you may provide, such as gift wrapping.

 

Organization is key

When the bustling crowds arrive, the last thing you want to be doing is scrambling to find where you placed your box of extra bags, or where your latest shipment of receipt paper disappeared to in your stockroom. Find logical spaces for each necessary item to go before the holiday season arrives and leaves you with stressed employees and customers. Your back room should be your sanctuary during this season - make sure it's well maintained and equipped with all of the essentials. Don’t forget that organization can also include online strategies. Ensure that your software is up to date, that you can easily track inventory, and that your system is up to the challenge of frequent sales.

 

Spruce up your space

Although you may have stocked up on additional supplies for the season, make sure to find room for those materials in storage (which should be organized already) and keep the store itself free from clutter. As more customers enter, they should feel free to roam around without too much crowding by other people or the items for sale. In order to avoid chaos, generate intentional spacing for shoppers to easily flow around the store. 

 

…and then add some festive flourishing! 

Avoid being labeled the Grinch of the mall, and be sure to let the holiday spirit shine. Once you feel your store is set up in the best way for sales, it’s time to then enhance it with some decorative pizzazz. Decorating your storefront will draw customers in, and having an inviting ambiance inside will make them want to stay. Plan a night where your employees can stay late to help display holiday garlands and baubles. Create holiday playlists to add festive cheer and watch those bustling shoppers glow in the warmth of feeling merry and bright. 

 

Create a strong holiday marketing campaign

Whether you use Instagram posts, email updates, or social media ads, it’s necessary to prepare an enticing holiday promotion early on to share through these channels. Think about what kind of sales or freebies you’d like to offer to your customers, and then use your creativity on social media to further attract your audience to visit your shop. Don’t be afraid to post frequently and to highlight what makes your store unique and special during this holiday season. Although there is a clear goal to attract new customers, don’t forget to remind your loyal customers why they should stick around too. Consider a rewards program that can benefit frequent shoppers, perhaps with extra perks during the holiday shopping season.

 

In Conclusion

Remember that a little extra prep work can go a long way in making sure everything runs as smoothly as possible this holiday season. Don’t forget to be proud of the value of your store and services, as well as its traditions that you can continue to enhance during the most wonderful time of the year. ‘Tis the season, and with a few added efforts, this season can be your most successful yet. 

Your Last Minute Holiday Season Checklist for Small Retail Businesses

As the holiday season approaches, shoppers have the opportunity to #shopsmall and support local businesses on Saturday, November 26th. Despite the traditional rush of Black Friday shoppers after Thanksgiving, the newer trend of shopping local has reached its 13th year with an impressive record of$23 billion dollarsspent on the annual event in 2021. Small Business Saturday reminds customers to connect with the owners behind the storefronts and help neighborhood brands thrive. This is a perfect opportunity to curate a successful shopping experience for your local community. Here’s how to extend a warm welcome to customers on this year’s 2022 Small Business Saturday:

 

 

Host an event

Create promotions that draw in a crowd. Whether you’d like to offer a small discount to everyone who makes a purchase, or to provide a gift certificate that encourages customers to return, deals help invite shoppers to visit. Often, these promotions can increase sales overall. If you want to be extra enticing, plan to have food and drinks that can be served to shoppers while they look around the store. Establish a cozy environment that not only shows your appreciation for your visitors, but makes them feel like they’re experiencing something special. Don’t be afraid to change your store hours to stay open a little longer so that more people can participate. 

 

Make the most of your online presence

How engaging is your store’s website? How appealing are your company’s social media posts? Do you have an email list of loyal customers to send out reminders of upcoming events and promotions? In today’s digital age, online presence is just as important as the actual store and tends to be the content that consumers engage with first before deciding on whether or not to make the trek to the brick and mortar shop. Remember to highlight your promotions in your posts. Even more helpful for your business is to develop extended services for shopping online such as pre-ordering goods and picking up purchases curbside. As much as we would all love for customers to spend more time in the physical store, sometimes convenience, especially in a post-pandemic world, seems to be a priority. Having as many capabilities for shopping with ease is beneficial. 

 

Go the extra mile

Consider providing extra offers for shoppers that make the experience feel even more unique. Stores that provide free gift wrapping, samples, or a small free gift with a certain amount spent at the store have added touches that customers remember. It also makes them more likely to share this news with others and become extra willing to return. Think about the other features of your store that make it special and highlight those aspects in your marketing promotion. 

 

Partner with other businesses

To help encourage community support, reflect on how all of the nearby local businesses can assist one another. Scavenger hunts, store crawls, BINGO cards, and numerous other fun games can be created by all of the small business owners to attract more customers to each shop. Once visitors fill out their game cards, they can receive an extra discount or freebie. This generates some added fun and creativity to the shopping day!

 

Keep the ball rolling

Don’t let the momentum of Small Business Saturday slow down after the singular day is over. Use the success of the event to continue creating posts that invite more shoppers, to use the hashtag #ShopSmall to encourage continued customers, and to highlight the wonderful features and goods of your store to the community. Thanking the shoppers who did make it out on the actual day will show your appreciation and grant you with additional respect and loyalty from your growing fanbase.   

 

 

Remember, the goal of Small Business Saturday is to embrace community and elevate the neighborhood shops we want to see continue to flourish. Make sure that shoppers feel that sense of familiarity and personal touch that can truly only come from shopping local. Going in with a strong, thoughtful plan to appeal to customers is the best way to create a successful holiday shopping season for your business.

How to Prepare for Small Business Saturday

It may feel like fall only just began, but the holiday shopping season is already very much top-of-mind for retailers everywhere!

Wondering what you can expect out of this year’s busy season as a small business owner or local retailer? Read on for a few of our seasonal predictions to help you plan for what’s in store this holiday.

Expect shoppers to check off their gift lists EARLY

The days of kicking off your holiday marketing on Black Friday are a thing of the past: as has been the trend since the pandemic started, consumers are shopping earlier and earlier to tackle their holiday gift lists. With Amazon announcing asecond ‘Prime Day’with sitewide discounts on popular items October 11th and 12th this year, shoppers are already in the holiday spirit and ready to begin their gift shoppingnow.

Everyone is on the hunt for the best bargains

Lingering supply chain issues and still high inflation have impacted consumers throughout 2022, and the holiday shopping season will be no exception. So while doorbuster deals and special holiday offers are always successful in driving retailer sales - this year especially, expect your customers to be on the lookout to shop special promotions and discounts on your best sellers throughout the season.

The retailers with both a digital and physical presence will do best

Whether you’re a national brand or a small local shop, it has become essential to find ways to blend both the physical in-store shopping experience with the digital environment to best connect with your customers. If your local shop can’t support e-commerce offerings in addition to your brick-and-mortar operations, there are still ways you can tap into the digital world to drive sales. For example, investing in “buy online, pick up in store” capabilities, utilizing social media feeds to showcase new product lines, and rewarding your most loyal customers with exclusive offers in their inbox are all ways to drive sales this holiday season. 

Key Takeaways

While the holiday shopping season can be a bit unpredictable in our post-pandemic world, a few things are for certain: shoppers are hitting the stores earlier than in the past, and are on the hunt for bargains this holiday season. Finding ways to extend your physical store presence to the digital space can also set your business up for success this holiday season.

3 Holiday Shopping Predictions Local Retailers Should Know

With locations throughout the U.S. Centennial shopping centers are known for their great atmosphere and selection of both retail shops and dining offerings, of course  - but did you know there is actually so much more you can explore when visiting a Centennial property?

Read on for just a few of these non-traditional spaces - beyond just shopping! - you can encounter it on your next visit to a Centennial property. 

Capture your next Instagram-worthy selfie

Stuntin’ Selfie Studio

Location:Vancouver Mall (Vancouver, WA)

Grab a ring light and strike a post! The Stuntin’ Selfie Studio at Vancouver Mall is a unique space featuring over 25 custom-made sets for an entirely new selfie experience. Bring your friends and have fun exploring the different sets - each one providing the perfect backdrop to snap a selfie!Learn More

Adopt a furry friend

Orphans of the Storm

 Location:Hawthorn Mall (Vernon Hills, IL)

Your next trip to Hawthorn Mall could end with a new companion to go home with: Orphans of the Storm Animal Shelter is a non-profit organization dedicated to helping save animals in the local Northern Illinois area and beyond. The Orphans of the Storm location at Hawthorn Mall allows families to meet with and adopt rescued dogs and cats to give them the loving, adoptive homes they so deserve.Learn More

 

Host your next team outing

MISH MASH Adventures

Location:Fox Valley Mall (Aurora, IL)

The first of its kind, MISH MASH is an “urban adventure” space, where teams work together to complete the challenges that are hidden behind every door. Host your next party or team outing here, where you’ll have fun working together to solve a variety of immersive and themed challenge rooms.Learn More

Train like a Ninja Warrior

 American Ninja Warrior Adventure Park

Location:MainPlace Mall (Santa Ana, CA)

Inspired by the hit NBC TV show, The American Ninja Warrior Adventure Park at MainPlace Mall is a fun and inclusive entertainment experience for all ages. Children, teens and adults will all have a blast challenging themselves and each other through a series of courses and obstacles, just like a true Ninja Warrior.Learn More

Let’s Connect

Get creative and think beyond traditional retail spaces! If you have your own unique business idea or experience that you’d like to bring to life, we'd love to find the perfect space to make your dreams a reality at Centennial! Reach out to your Local Leasing &amp; Business Development Representative today to start the conversation.

5 Things You (Probably) Didn’t Know You Can Do at Centennial Properties - Besides Just Shopping!

Friday, October 13, 2023

4PM-9PM in AMC Theatres Court

Celebrate the release of the historic Taylor Swift | The Eras Tour Movie in AMC Theatres Court on Friday, 10/13/23 from 4PM-9PM. 

Festivities will include:

Friendship bracelet bead bar 

"In My Shopping Era" fun photo moments

T Swift spinning DJ

"In My Shopping Era" prize wheel with gifts from Bath & Body Works, Francesca's, Pink 

Fun surprises 

This is a FREE event!

Taylor Swift | The Eras Tour Celebration

Tuesday, October 31, 2023

3PM-6PM (while supplies last)

Bring your goblins and ghouls and enjoy a family-friendly Halloween Trick-or-Treating experience with participating shops and restaurants at Mission Valley!

Visit AMC Court to pick up a complimentary "trick or treat" bag to take around and collect candy and learn about special center offers. Retailers will be armed with treats for kids ages 13 and under - available while supplies last.

Costume accessories resembling weapons will not be permitted inside the center. No silly string, blow horns or any form of powdery

Retailer Trick -or- Treat

Centennial Real Estate Management L.L.C.

Mission Valley is a retail complex consisting of a traditional open-air shopping mall in San Diego - California.

Keep yourself in the know