Old Colony Square gets an extreme makeover
Purchase, N.Y. — Old Colony Square Center in Jersey City, N.J., will look like new by the end of the year. Owner National Realty & Development Corp. will begin renovations to the Pathmark-anchored center this summer.
With more than 425,000 people living within three miles and a median household income of $62,513, the center continues to attract new tenants. Earlier this year, NRDC welcomed Advance Auto Parts, Popeye’s Louisiana Kitchen and a local pizzeria.
The facelift will include new canopies, columns, exterior lighting and updated storefronts featuring fresh, modern neutral colors.
NRDC will also improve pedestrian access with new walkways and crosswalks.
The new look will enable the center to keep pace with the surrounding community, which recently redeveloped neighboring brownstones, opened a new hospital and opened a new charter school.
ShopperTrak: May 2013
Total U.S. Shopper Traffic in Retail Stores and Malls for May 2013
Shopper activity had a healthy gain last month. Retail foot traffic increased 9% in May compared to April 2013, consistent with generally positive month-over-month retail traffic trends. Foot traffic for May 2013 increased 6.9% compared to the same month in 2012.
Mother’s Day, graduations and Memorial Day lured consumers to stores and malls to shop for mom, grads and summer. In areas east of the Rocky Mountains, the early spring was unseasonably cold. However, temperatures returned to normal during May. This warming pattern released pent-up demand for spring and summer merchandise thus increasing May shopper activity.
The month’s increase in year-over-year foot traffic reflects the U.S. economy’s slow, but steady gains. While consumer sentiment does not impact retail sales immediately, the University of Michigan Consumer Sentiment Index in May reached its highest level since the beginning of the recession. The last time consumer sentiment was this high was in September 2007.
“We saw an increase in shopper activity in May due to shopping for Mother’s Day and Memorial Day,” said Bill Martin, ShopperTrak founder. “In June, shopper traffic will be driven by shopping for Father’s Day and for summer vacation items.”
ShopperTrak’s data and analyses in this article are based on counting billions of shoppers in more than 60,000 locations across 90 countries. ShopperTrak counts more retail foot traffic than any other company in the world. The retail technology company collects and analyzes anonymous foot traffic, queue times and shopper demographics to identify revenue opportunities. Find out more at http://www.shoppertrak.com.
The kings of candy are crowned in Chicago
Retailers looking for insight into popular new products in the candy and snacks world can thank organizers of the Sweets & Snacks Expo for doing some heavy lifting.
A panel of experts at the 17th annual event sifted through hundreds of samples prior to the sold out trade show in Chicago and found eight worthy of the distinction of “Most Innovative New Product.”
Hershey won the award in the chocolate category for Kit Kat Minis and in the non-chocolate category Tierra Nueava Fine Cocoa won for its Coffee Thins. Other recipients and the category included:
• Sweet Snacks: Sprinkle It On, Handmade Marshmallow & Rice Cereal Confectionery.
• Salty Snacks: Sahale Snacks, Pomegranate Pistachios.
• Savory Snacks: Fire Corn Popcorn/Pop Gourmet, B.A.’s Fire Corn, Real Jalapeno Popcorn.
• Novelty/licensed: Jelly Belly Candy Co., Tabasco Jelly Bean bottles.
• Seasonal: Russell Stover Candies, Russell Stover S’mores Big Bite Bar.
• Gourmet/premium: Hammond’s Candies, Hammond’s Milk Chocolate Red Velvet Cake Bar.
A panel that included trend experts, food authorities and retail representatives rated products on attributes such as taste, packaging, innovation and go-to-market feasibility. They selected five of the top items in eight categories which were then put to a vote by the more than 1,000 retail and wholesale trade customers who attended the event.
“About 30 percent of annual confectionery and snack sales are attributed to products introduced in the last two years, so these launches are critical to industry success,” commented National Confectioners Association president Larry Graham.
The Sweets & Snacks Expo is sponsored by NCA and attracts roughly 600 exhibitors and 15,000 industry professionals each year.