REAL ESTATE

Coffee Works Cafe opens at Voorhees Town Center

BY CSA STAFF

Voorhees, N.J. — Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said that Coffee Works Cafe has opened its second location on Town Center Boulevard of its Voorhees Town Center property.

More is on the horizon for Voorhees Town Center, as the municipal offices of Voorhees, N.J., will relocate to the second level of the mall in spring 2011. Also in 2011, first-to-market Firecreek Restaurant + Bar and Doghouse Gourmet Burgers are slated to join Voorhees Town Center’s Town Center Boulevard.

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News

Retail U survey: Mobile most important in 2011

BY CSA STAFF

New York City — Mobile technology ranked as the most important priority for retail in 2011, according to a recent online poll by Retail U. The respondents were asked to base their results on their key takeaways from the National Retail Federation’s 100th Annual Convention & Expo, in New York City.

Thirty-two percent of the respondents cited mobile technology as most important, followed by cross-channel integration and inventory visibility, with each receiving 21% of the vote. Other major priorities for the year include advanced CRM/loyalty programs (18%) and PCI compliance (8%).

To learn more about the trends driving today’s leading retailers, go to retail-u.com.

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FINANCE

Customer Growth Partners projects 5.1% retail growth in 2011

BY CSA STAFF

New Canaan, Conn. — The retail industry will grow by 5.1% in 2011, the strongest growth in four years, according to Customer Growth Partners’ 2011 Forecast and Outlook. The New Canaan, Conn.-based consulting and research firm projects that the industry will create over half a million new jobs in 2010, the most of any employment sector, and that retail sales will reach a record level of almost $2.9 trillion.

CGP’s forecast uses an econometric model with variables such as personal income growth, savings rates, employment data, household wealth and credit data, inflation rates and energy prices; and on CGP’s proprietary retail database of the largest 100 retailers. [Retail sales forecast data are derived from DOC/Census data, excluding autos/gasoline/restaurants; and employment forecasts are based on DOL/Bureau of Labor Statistics data.]

CGP’s estimated 5.1% year-over-year growth rate for 2011 would be the fastest growth since the 5.3% reached in 2006, the last full year pre-recession, and the $2.87 trillion 2011 sales forecast would top the total sales record of $2.73 trillion set in 2010.

The CPG report also predicts that the strongest-growing retail sectors in 2011 will be home-related, including home furnishings retailers such as Bed Bath Beyond and Williams-Sonoma, and home-improvement players such as Home Depot and Lowe’s — reflecting four years of pent-up demand and depressed sales levels during the housing slump.

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