Shoppers want the greatest value for their hard-earned dollars, and many will wait until the last possible moment to find that perfect gift at the best possible price. Friday, December 23rd proved to be the second-busiest day of the season.
CHICAGO (PRWEB) December 28, 2016
Procrastinating shoppers made the last week before Christmas and the start of Hanukkah some of the best retail days of the season, said Starwood Retail Partners in the latest edition of its exclusive Holiday Report, which reports tenant sales and trends throughout the company's national portfolio.
A longer holiday selling season compared with 2015 and a later Hanukkah (which began on Christmas Eve) propelled last-minute shoppers into Starwood Retail's malls and lifestyle centers as the holidays approached.
"Shoppers want the greatest value for their hard-earned dollars, and many will wait until the last possible moment to find that perfect gift at the best possible price. This year proved that, as Friday, December 23rd proved to be the second-busiest day of the season, our retailers tell us," said Scott Wolstein, CEO of Starwood Retail Partners.
Retailers in Starwood Retail's Eastern region noted that the department stores and specialty apparel retailers were especially strong, with outerwear and accessories seeing gains. Electronics were popular in the Central region, with shoppers waiting in line for stores to open. Colder temperatures propelled sales of outerwear and children's clothing.
To compile the data for the report, Starwood Retail's mall staff requests year-over-year sales from approximately 28 center specialty tenants and department stores that best reflect overall results. Traffic figures are obtained through in-center wifi technology. Retailers also report on the best-selling items at their stores, giving an overview of what today's shoppers want and need. In addition, mall staff at seven centers representative of the portfolio interviewed guests throughout the season for anecdotal evidence of their shopping plans and patterns.
The full report can be downloaded here.
ABOUT STARWOOD RETAIL PARTNERS
Starwood Retail Partners is not your father's - or grandfather's - landlord. We're acquiring, redeveloping, managing, leasing and operating the next generation of shopping centers for a new generation of shoppers: active, exciting community cores for an increasingly interconnected consumer.
Owned by Starwood Capital Group, we have grown our portfolio to 30 centers in 16 states across the United States since our founding in 2012, working with top-tier investment firms to help finance our properties, and employing the talents and skills of the most creative professionals in the business to maximize their value. We build solid relationships and partner with our retailers, and invest in innovative technologies that help our properties become more productive, our stores more exciting and our shoppers more engaged.
We understand that ultimately, as an owner, as an employer and as a citizen of our communities, it's not about property, it's about people. http://www.starwoodretail.com