Phillips Edison reveals top mall trends to watch in 2022


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CINCINNATI – (BUSINESS WIRE) – Phillips Edison & Company (NASDAQ: PECO), one of the largest owners and operators of malls anchored in grocery stores, today released its insights into key malls trends to watch in 2022 as part of the ICSC Here, We Go event.

Among the trends that PECO is following, the company noted various ways that retailers are finding to connect with their consumers, including focusing on traditionally larger brands to open up smaller-format concepts. Major retailers, including Target, Kohls, Bloomingdales and Panera Bread, have all announced models with smaller footprints. Curbside pickup and online in-store pickup (BOPIS), which have exploded during the pandemic, have also proven to meet clear consumer needs and will continue to be a major driver of demand.

Technology is creating new and better ways for brands to engage with consumers and further improve their omnichannel strategies. Specifically, social selling has become a preferred way for consumers to find and buy products that match their personal preferences – and virtual and augmented reality makes it even easier for retailers to bridge the gap between online shopping. and in-store, offering new ways to “try before you buy”. Retailers continue to invest in automation tools that make the entire process, from order to delivery, more efficient.

“With supply chain issues hitting the headlines as we move through the holiday season, automation plays a critical role in how retailers get products from point A to point B,” said Mike Conway , Vice President of National Accounts and Retail Partnerships at PECO. “These tools can help brands better track, identify and analyze issues, informing their decision-making and also enabling them to better and more proactively communicate with customers to set expectations and manage delays. Automation also provides critical predictive analytics that allow retailers to take a hyper-localized approach to stocking their shelves in neighborhood malls like ours, advancing their last mile delivery strategies. We expect to see continued investments in automation and supply chain technology. ”

Ashley Casey, Director of National Accounts at PECO, added: “We continue to see retailers pushing the boundaries when it comes to leveraging the latest technology – both online and offline – to create better experiences. and increase customer loyalty. The fastest growing categories we see in our portfolio include medical practices and services in the health and wellness category. Another industry that has been exciting to watch is the quick service restaurant industry. These operators, who cover everything from fast food to specialty concepts and ghost kitchens, have demonstrated incredible agility and innovation over the past two years, and we believe this indicates significant growth for the company. ‘whole category.

When it comes to both tech and quick-service restaurants, Dunkin ‘and Chipotle are two big brands that have launched digital-only restaurants with the intention of growing. Additionally, Taco Bell showcased its Defy model, which features four drive-thru lanes – three of which are dedicated to mobile orders – and Panera Bread is rolling out dual drive-thru and updated kiosks to speed up orders. A growing number of restaurants, including Wendy’s, Quiznos, and Cracker Barrel, are also using ghost kitchens – which represent a growing $ 43 billion industry led by Kitchen United, CloudKitchens, REEF, and All Day Kitchens – in their active markets. These trends indicate the restaurant industry’s willingness to meet the significant demand for off-premises catering, which is expected to continue to grow well beyond the pandemic. Outdoor and terrace seating, which many quick-service restaurants have worked to implement during the pandemic, is also expected to remain a focus for on-site dining for the foreseeable future.

This information is produced by PECO’s National Accounts and Emerging Trends team, which consists of a group of highly specialized leasing professionals who follow more than 400 accounts and actively engage with 150 growing retailers. growth. This team travels the country to meet brands to learn how they are evolving and identify creative ways in which PECO can advance their real estate goals. In the process, the team closely monitors and documents developing trends in different retail categories including grocery, foodservice, fitness, health and beauty, medical, entertainment, and discounts.

This deliberate approach to collecting information has proven to be extremely beneficial for PECO since the team was formed in 2016. This focus leads to the collection of an abundant amount of data that constantly informs the company’s leasing strategies as well as how , where and when it chooses to deploy capital. . The team’s efforts have resulted in new, stronger relationships with a wide range of innovative retailers that are redefining the retail landscape and the customer experience.

For more information on the Emerging Trends team, visit Phillips Edison’s booth (# 4928) this week at ICSC Here, We Go and connect with the company on Instagram, Twitter and LinkedIn. Also, listen Intel retail, a podcast series hosted by Mike Conway and Ashley Casey.

About Phillips Edison & Company

Phillips Edison & Company, Inc. (“PECO”), an internally managed REIT, is one of the world’s largest owners and operators of grocery store anchored shopping centers. Founded in 1991, PECO has delivered strong results through its vertically integrated operating platform and nationwide presence of busy shopping centers. CEEC centers include a mix of national and regional retailers providing essential goods and services in fundamentally strong markets across the United States. PECO’s main grocery stores are Kroger, Publix, Ahold Delhaize and Albertsons. As of September 30, 2021, PECO manages 289 shopping centers, including 267 wholly-owned centers representing 30.4 million square feet in 31 states and 22 shopping centers owned in two institutional joint ventures. PECO focuses exclusively on creating great omnichannel shopping experiences anchored in the grocery store and improving communities, one mall at a time.

PECO uses and intends to continue to use its investor website, which can be accessed at https://investors.phillipsedison.com, as a means of disclosing material non-public information and complying with its disclosure obligations under FD Regulation.

Media:


Cherilyn Megill

Phillips Edison & Company

801-415-4373

[email protected]

Megan Kivlehan

RIC

646-677-1807

[email protected]

Source: Phillips Edison & Company, Inc.

Edwin S. Wolfe