Monday, November 18, 2024

How Retail Property Managers Are Reinventing The Holiday

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Once upon a time, holiday shopping used to be a sprint — shoppers lining up at dawn on Black Friday, braving the crowds to snag that perfect holiday deal. Today, the holiday shopping season feels more like a marathon, with ‘deal days’ stretching from first week in October to Christmas. The trend is transforming not only how people shop, but also how retail property managers operate.

Retail property managers are shifting gears, working with retailers to keep up with shoppers who are no longer waiting for one big day, but dipping in and out for deals all season long. The goal is clear: to create a seamless, safe, and enjoyable experience that keeps customers coming back. Here’s how property managers are meeting the demands of this extended season.

Preparing for an Extended Shopping Season

Black Friday and Cyber Monday — once the holiday shopping pillars — are now part of a continuous season of deal days. Retailers start discounts as early as October, encouraging shoppers to pace themselves.

According to JLL’s Holiday Shopping Report 2024, nearly half of consumers began holiday shopping before Halloween, and by the weekend after Thanksgiving, 86% will have started. Over 95% will have made their first purchases by mid-December.

Still, Black Friday holds its appeal among high-income shoppers and Gen Z consumers, who are more likely to visit stores on traditional big deal days. Over 70% of Gen Z shoppers, for example, report planning in-store visits on Black Friday, showing renewed interest in the in-store experience.

For property managers, these shopping patterns mean preparing for a steady flow of customers while planning for peak foot traffic on key deal days. Property managers can collaborate with retailers to:

  • Promote key shopping days: Partnering with retailers to highlight deals and events helps shoppers stay informed about where and when to find the best promotions.
  • Create excitement for repeat visits: Seasonal pop-ups and events make shopping centers feel like destinations, not just places to buy gifts.
  • Prepare for peak days: Scheduling extra staff and enhancing services on high-traffic days ensures a smooth experience.

Embracing Digital-First Marketing

Today’s shoppers expect instant information, making digital marketing essential. From social media to email newsletters, property managers can use digital channels to keep customers up to date, ensuring no one misses a sale or event all season long — and gaining insights from customer interactions.

Digital marketing also allows property managers to build excitement around deals and activities by:

  • Providing real-time updates: Email, social media, and websites keep customers informed of deals, hours, and events.
  • Creating FOMO: Social media and email build anticipation and encourage frequent visits with special deals and limited-time events.

Prioritizing Safety and Security

Amid holiday cheer, safety remains a top concern. High foot traffic and extended hours call for additional security to prevent potential theft and altercations, while ensuring customers have a safe, seamless, and stress-free experience. To create a welcoming, comfortable environment throughout the extended shopping season, property managers should focus on:

  • Visible security presence: Increased patrols, assistance to parking lots, and enhanced lighting can reassure shoppers of their safety.
  • Planning for high-traffic days: Strategic allocation of security staff can handle peak shopping days and ensure quick responses to any incidents.
  • Customer support: Services like shuttle assistance from parking areas, particularly during peak times or after dark, make the experience smoother for shoppers.

Flexing Operating Schedules

With deal days and promotions spread out, retail property managers must adopt flexible operating schedules and adapt quickly to changes in foot traffic. By coordinating closely with retailers, managers can ensure that operating hours, staffing, and even event schedules align with shopper demand.

The flexibility to adjust for both early-bird deal seekers and last-minute shoppers (and everyone in between) is crucial. Property managers can shift as needed, making sure shoppers have a positive experience whether they’re starting in October or rushing in a week before Christmas.

Catering to a New Generation of Shoppers

Holiday shoppers now include a growing number of Gen Z consumers who prioritize sustainability and social responsibility. Gen Z shoppers tend to start shopping around Black Friday, and they are particularly enthusiastic about the resale market, buying and selling gently used items.

Retailers and property managers can support this by hosting pop-ups that feature sustainable or local products. These align with Gen Z values and enhance the reputation of retail centers as forward-thinking, community-focused spaces.

Creating Experiences Beyond Shopping

The holiday season offers property managers a chance to create experiences that go beyond shopping. Today’s retail spaces often include dining, entertainment, and wellness services — turning them into destinations where customers can gather, relax, and create memories.

With mixed-use developments on the rise, retail centers are more than places to make a purchase — they are places for connection and community. By offering events and seasonal activities, from live music to interactive displays, property managers keep customers coming back throughout the extended shopping season.

The holiday shopping season has evolved, and property managers are adapting to keep pace. By embracing digital-first marketing, enhancing security, and creating destination environments, they’re making the holiday shopping marathon as enjoyable as ever. With flexibility and a focus on customer experience, property managers can ensure that brick-and-mortar retail remains not only relevant but essential in the holiday season and beyond.

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