Q&A: Retail Sector Insights from the Owners Side
Recently, Quang Nguyen joined NewMark Merrill Companies as Vice President of Marketing & Technology. Quang brings 17 years of marketing experience, serving most recently as Marketing Director for Westfield in Los Angeles, and has worked with brands such as Hilton Hotels Corporation, Western Union and Points International.
Connect Media asked Nguyen to share insights into how the retail industry has changed and ways shopping center owners are adjusting to keep pace in our latest 3 CRE Q&A.
Q: How has retail marketing changed to keep pace with different types of properties today, as well as consumer preferences?
A: Retail marketing continues to evolve by leveraging technologies that help identify specific behaviors of customers when they are physically on-site at our shopping center, which will provide critical data to target, develop and refine our marketing programs to cater to preferences.
Q: How do you compete against e-commerce?
A: E-commerce is a part of the greater shopping ecosystem, and lives alongside brick and mortar shopping. It’s important that every customer who visits one of our centers has the best experience. The physical shopping center experience continues to allow customers to have a sense of place and discovery – which is missing in the e-commerce channel.
Q: What examples can you share of programs you are doing today?
A: We continue to provide our customers interesting event favorites, such as summer concert series and holiday celebrations, while simultaneously exploring new and innovative ideas for unique experiences. Additionally, we continue to engage our customers through traditional marketing programs, such as direct mail and other store/restaurant promotions. Leveraging various technologies, we are monitoring and responding to consumer sentiment on social media channels. Customers are relying more on organic reviews, seeking the “gems” that are in their community shopping centers – for example, a grocery store can be a “destination” such as the new Northgate Market in the Anaheim Town Square.
For comments, questions or concerns, please contact Dennis Kaiser
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