Department stores increased their market share recently for the first time in almost 30 years, a fact that's due largely to the innovative digital strategies they've developed, according to researchers at New York University who released a survey that ranks retailers based on their online competence. Macy's took the top spot on the list, which encompassed a myriad of online areas including social strategies, mobile commerce and digital marketing.
Retailers along the Eastern Seaboard were open for business as usual on Wednesday, the day after an earthquake centered in Virginia shook the coast but did little or no damage to stores and shopping centers. Now, many are battening the hatches to prepare for Hurricane Irene, which is forecast to hit the Washington, D.C., area this weekend and may send storms as far north as New York.
Landlords in the most high-end retail districts have seen their fortunes rebound from lows associated with economic downturn over the past couple of years. Rents and purchases in top destinations such as New York's Fifth Avenue and Beverly Hills' Rodeo Drive rose during the first half of 2011.
Turkish developers are increasing their presence in retail markets throughout Europe, Central Asia and Africa, building new shopping centers. They are also exporting more local brands to these markets as the number of their retail centers increase. Because of the price differential, it is working for them, says Ahmet Coskun, chairman of Turkey's Confederation of Businessmen and Industrialists.