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Michael Stoler's Newsletter
This week on NY Real Estate TV
Stoler Report Broadcast:
8/25/2019: What's Really Happening in the Investment Sales Market
8/25/ 2019: Building New York
Jeffrey Levine
Douglaston Development, Levine Builders, Clinton Management
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This week on New York Real Estate TV
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August 25, 2019
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18th season The Stoler Report
Sunday at 11: 00 AM
14th season: Building NY:NY Stories:
Sun 12 Noon
Celebrating over 1,180 broadcasts
Broadcasts now available
Television, Internet & Podcasts (Listen & view on Apple Podcasts)
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The Stoler Report:
New York's Business Report
Airing on CUNY TV in New York
Sunday, August 25, 2019
11 AM
What's Really Happening in the Investment Sales Market?
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| What's Really Happening in the Investment Sales Market? | The Stoler Report |
Guest List
Helen Hwang Sr. Executive Managing Director, Meridian Investment Sales
The Stoler Report airs 8 times a week in NYC on CUNY TV. Spectrum 75, FIOS 30, RCN 77
Sunday 11:00 AM
Tuesday 2:00 am, 11 pm
Wednesday 8:30 am, 2:30 pm
10:30 pm
Friday 5:30 am
Sunday 12:00 am
midnight
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Building New York: NY Stories
Airing on CUNY TV in New York City
This week on Building New York: NY Stories:
Airing in NYC on CUNY TV
Debuting:
Sunday, August 25, 2019
12: PM (noon)
Jeffrey Levine, Douglaston Development, Levine Builders, Clinton Management
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| BuildingNY: Jeffrey Levine: Douglaston Development/Levine Builders |
The show airs on CUNY TV in New York City airing; Channel 75 Spectrum, 77 RCN, 30 FIOS
Sunday 12:00 PM (noon)
Monday 10:30am, 4:30 pm,
9:30 pm
Wednesday 6:30 am
Thursday 11:30 pm
Saturday 12:00 pm (noon)
Sunday 12:30 am
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Kohl's: First it is Amazon and now Facebook
CNN reports that Kohl's who has a program for returns with Amazon is now planning to work with Facebook to attract new business.
Kohl's is known for selling big brands like Nike and Levi's. But to draw Millennials to stores, it needs to start offering niche brands with loyal Facebook and Instagram followings.
Kohl's announced that it will partner with Facebook. The social media company will help Kohl's select clothing and homegoods' brands to sell in some stores. Facebook, using what it knows about the interests of its users, will work with Kohl's to identify trendy brands on Instagram and Facebook that have never before appeared in Kohl's stores or on its website.
Facebook and its Instagram app are trying to become shopping hubs. Kohl's sees an opportunity to glean insights from the social media company to add brands that got their start online. By using Facebook as a funnel for hip digital brands, Kohl's hopes to create an experience that customers can't replicate at rival stores.
Kohl's is calling its new lineup the "Curated by Kohl's" collection. Kohl's collaboration with a team at Facebook will begin next year.
"Facebook has a wealth of data on consumers and consumer preferences," said Michelle Grant, head of retailing at Euromonitor International. "It's an interesting way to source merchandise."
Usually, national brands pitch merchant teams at retailers to get items on store shelves or merchants scour the market to find big brands. Kohl's is changing up that process and will rely in part on Facebook's expertise to identify brands with loyal customers.
Facebook provides "an additional opportunity for some brand introductions," Doug Howe, Kohl's chief merchandising officer, said in an interview.
As part of the "Curated by Kohl's" initiative, the company announced that it will begin to sell Adore Me lingerie, Dia & Co. plus-size clothing, Kid Made Modern arts and crafts and other brands at 50 stores beginning in the fall.
Tapping Facebook is unorthodox play for a legacy department store. But it fits within Kohl's CEO Michelle Gass creative approach to refitting Kohl's for the online shopping era.
Under Gass, Kohl's has expanded a relationship with Amazon to accept Amazon customers' return orders for free, even without their shipping box, at all of Kohl's more than 1,100 US stores. Kohl's is also leasing out space to Aldi and Planet Fitness to open up several supermarkets and gyms next to Kohl's locations.
Digital brands at department stores
Kohl's relationship with Facebook is a sign of online shopping bleeding further into physical stores.
Younger shoppers are scooping up niche online clothing and home brands. That trend is forcing traditional retailers like Kohl's, Macy's and Nordstrom to look beyond traditional big brands to draw younger customers. Macy's recently unveiled Story, a new section in more than 30 stores that will change brands and concepts every few months to get customers to keep coming back to see what's new.
"Department stores can't just rely on national brands to drive traffic to their stores anymore," said Euromonitor's Grant. "Retailers need to find new brands that resonate with consumers."
Like Macy's, Kohl's will rotate out the merchandise in the collection each quarter to try to compel customers to return.
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Foot Locker is opening more massive 'Power' stores across US-and it's teaming with Nike to do it including one in Washington Heights
CNBC Reports Foot Locker is teaming with Nike as it rolls out bigger, more interactive stores.
These so-called Power stores are four times as big as a typical Foot Locker store in malls. The newest which opened July in the Big Apple in the Washington Heights neighborhood of Manhattan. The retailer plans to open upwards of 50 Power stores over the next three years. It has three in the U.S. today: one in Detroit and two in Philadelphia.
The roughly 9,000-square-foot store in Washington Heights is the first location where Nike has brought some of its proprietary technology into another retailer's bricks-and-mortar shop. At the store, Nike's loyalty members can scan a bar code within their Nike app to get free swag like
sunglasses, purchase exclusive products and have the chance to win a free pair of sneakers. Nike has taken some of the things it's been testing out at its Nike Live store on Melrose Avenue in Hollywood, and bringing it into Foot Locker.
"This is a big deal for us," Ann Hebert, vice president of global sales for Nike, said in an interview. "It's not something that we traditionally do."
But, she said, Nike has worked with Foot Locker "for decades." And, she added, Nike realizes it can't keep growing the business on its own, especially in neighborhoods where it doesn't already have a store.
Nike is Foot Locker's biggest brand partner. And Foot Locker is also one of Nike's biggest wholesalers. Foot Locker says it purchased about two-thirds of its merchandise from Nike in 2017 and 2018.
And while Nike has been growing its direct-to-consumer business - building its website and mobile apps like SNKRS - it still needs key partners like Foot Locker and Nordstrom to reach shoppers who don't live near a Nike store or who don't want to shop on Nike.com.
"Partners extend that customer relationship for us," Hebert said. "We know [consumers] want choice. So we want to make sure we are located in their path."
Sales from Nike's Direct business rose 12% on a currency-neutral basis to $10.4 billion in fiscal 2018 from $9.1 billion in fiscal 2017, according to SEC filings. Direct revenue now makes up about 30% of total Nike brand revenue, the company said, fueled largely by online growth
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Click logo to listen to Podcasts of past Stoler Report broadcasts
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Click logo to listen to Podcast of past Building NY broadcast
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The Stoler Report: NY's Business Report & Building New York: NY Stories
Airs on twenty four:
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Past broadcasts available online at:
The Stoler Report:
Building New York: NY Stories
CUNY TV:
YouTube
iTunes
People of New York City
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Michael Stoler
Michael Stoler is the President of New York Real Estate TV, LLC and producer of "The Stoler Report-New York's Business Report" & "Building New York: NY Stories".
Mr. Stoler is can be reached
mobile: 646-704-1788
E-mail: mstoler@michaelstoler.com
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