Retailers bring holiday mood to city shoppers

Real Estate Weekly,  Oct 17, 2007  by Faith Hope Consolo

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Holiday shopping in New York is never done at the last minute, and retailers are already starting to prepare for the expected influx of discerning shoppers, all searching for that perfect gift. From irresistible pop-up stores to online incentives, the retail landscape is embracing the holiday season, hoping for record-breaking sales.

According to the National Retail Federation, sales will rise four percent this holiday season, to more than $474 billion. Although this growth prediction is more conservative than in past years, retailers are already launching aggressive marketing campaigns, determined to exceed all expectations.

In New York and across the country, retailers are hoping to put shoppers in the holiday spirit early this year, without explicitly calling it a "holiday season." Wal-Mart is starting a toy sale, L.L. Bean online has initiated its season of free shipping, and Toys "R" Us has opened a temporary pop-up store in Manhattan, called "Holiday Express"

Another part of these marketing campaigns includes an early edition of holiday shopping catalogs. Target, Sears, and J.C. Penney have all released books that are intended to cause readers to consider their holiday gift plans, but with subtle holiday undertones.

Neiman Marcus has also released its uber-luxury book, which features extravagant gift ideas along with designer clothes and accessories. Some of the catalog's suggestions include a $50,000 tree tent by artist Dre Wapenaar, and a $73,000 Vertu phone encrusted with diamonds.

The Shops at Columbus Circle is starting to gear up for end-of-year-shopping, as well. A pop-up Illy cafe will serve up cups of coffee to caffeine-craving shoppers from November 28 through December 29.

Online marketing is also very important this time of year. A new report shows that more than half, or 50.7%, of Internet users will do at least some of their holiday shopping online this year, up from 37.6% last year.

The ever-expanding college-aged apparel stores will are certain to enjoy a major holiday boost this year. Abercrombie & Fitch's trendy store on Fifth Avenue continues to attract throngs of excited shoppers, while collegiate favorite Hollister is opening a flagship at 600 Broadway. South Korean-based brand, Who.A.U is opening its first U.S. store in Stamford, Connecticut's Town Center. The company plans to open 12 to 18 stores in the next year, with a goal of 50 stores by 2012. Steve & Barry's, which boasts an expansive home in the Manhattan Mall, recently announced plans to add 60 new stores, including one in Pennsylvania.

In recent years, New York has built on its reputation as the "Shopping Capital of the World," becoming the ultimate destination. The holidays are the peak of the retail year, so it is logical that retailers are prolonging the season.

BY FAITH HOPE CONSOLO, CHAIRMAN, RETAIL LEASING AND SALES DIVISION, PRUDENTIAL DOUGLAS ELLIMAN

COPYRIGHT 2007 Hagedorn Publication
COPYRIGHT 2008 Gale, Cengage Learning