Cirex Views & News Commercial Real Estate Insights
by Ralph Kamps
cirexnews.com 6 key components of the store of the future
From Walmart to DTC upstarts like Burrow, retail executives shared their perspectives on what’s essential for the next generation of physical stores.
The future of stores — the ones that’s will still exist — will be highly experiential. They’ll engage the customer’s senses, cater to convenience and let customers shop on their own terms. At least that’s the message coming out of Future Stores, the Miami-based retail conference that’s took place last week.
Executives focusing on store design, real estate, technology and employee education programs convened to talk about what the future of stores will mean for them, their employees and, of course, customers. Here are some of the most illuminating quotes from the conference and what you can expect from leaders in brick-and-mortar experiences in the coming year...
RSK: Some interesting thought processes going on here. Retail is still morphing.
Weed company Green Growth Brands to open CBD shops in malls across US, as Barney’s adds ‘cannabis lifestyle shop
U.S. mall owner Simon is about to open more than 100 shops selling products infused with CBD. It’s partnering with Ohio-based cannabis firm Green Growth Brands. Department store chain Barney’s is also opening a cannabis shop in its Beverly Hills location.
The biggest mall owner in the country is about to open more than 100 shops selling products infused with CBD, short for cannabidiol.
Simon Property Group on Monday said it was partnering with Ohio-based marijuana company Green Growth Brands to open 108 locations selling CBD products this year at Simon’s U.S. malls, which include Roosevelt Field Mall in New York and The Galleria in Houston....
RSK: You are going to see more and more of this. It is like having a coffee shop in every strip mall or a gym or yoga studio. It will become a matter of convenience. Already one each near East & West Tone but not in the mall itself.
Ken Notes:As developers we need to be at the table here because this retail market can be upscale facilities or any space will do... We need to push for medical like facilities with quality retail space. There is a lot written about this! Google -- retail space for medical marijuana...
Wisconsin Development News
by KEN HARWOOD
wisconsindevelopment.com Foxconn by the Numbers - It is NOT politics
That said Woo did outline a plan. Foxconn wants to create a “technology hub” in Wisconsin that would largely consist of research facilities along with packaging and assembly operations. Foxconn will also produce specialized tech products for industrial, healthcare, and professional applications.
Foxconn by the numbers. China’s median monthly wages (Shanghai - $1,135, Beijing - $983 and Shenzen - $938) have increased exponentially over the past few years and like Japan and South Korea may eventually catch up with the median labor wages in the US -- but not yet or any time soon. The US is still paying three to five times as much for equivalent labor. Even though the Chinese market is as tight or even tighter than ours for skilled labor, there are still workers available for a good job and the newer Foxconn jobs and workplaces have also improved exponentially. Foxconn has also found another strong and inexpensive labor force in Mexico and their new plans are to manufacture product in China and assemble in Mexico for sale in the US. My favorite website for a quick look at all the numbers is found at
https://www.worlddata.info/
average-income.php.
The second aspect of the equation is the price and margins on higher end screen technology. From 10 years ago to today screen prices have gone from $6.60 per square inch to less that a dollar today. There was a thought recently that this was going to level off and 4K and 8K would enter the market with higher prices and new demand -- that did on happen. In fact we are even seeing better units at lower prices for Supper Bowl Sunday compared to Black Friday -- a span of just three months.
Foxconn has also quickly identified new markets with great margins requiring the new tech designs their "hub" will produce. The industrial, healthcare, and professional markets will require new product at much higher prices and profit margins. Foxconn is a very smart company and in the end Wisconsin will still benefit from whatever they choose to do in the State. We should actually applaud Foxcon for not hiring 100 employees last year and billing us for nine million plus. They did the right thing and we need to continue to work with them...
Ken Notes: Please read the last paragraph in my article if nothing else. Do not point fingers or blame anyone -- this is an economic decision made by a smart company nothing else.
One more thing - if we offered reasonable tax credits to ANY growing company, we would get far more than 13,000 employees for far less money. We could also improve our TIF laws as well.
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