REAL ESTATE

RadioShack opens Penn Station pop-up

BY Dan Berthiaume

Fort Worth, Texas — RadioShack has opened its newest Manhattan location as a pop-up concept store at Penn Station. The limited-time-only location is the third RadioShack pop-up store to open in Manhattan.

In addition, RadioShack has opened a total of eight concept stores in the Manhattan area. The newest pop-up opened five days after construction began.

"New York is a critical market for us as we reinvigorate the RadioShack brand," said Joe Magnacca, CEO of RadioShack. "We debuted our new store format here in June at Broadway and 81st Street, and we continue to launch our new interactive concept stores in the city as a way to introduce not only New Yorkers, but visitors from across the country and around the world to the new RadioShack."

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FINANCE

Motorola survey finds tech investments boost customer satisfaction

BY Dan Berthiaume

Scaumburg, Ill. – Overall in-store satisfaction has grown 23% in the last six years. Meanwhile, the annual Motorola Solutions Holiday Shopping study shows that satisfaction with the checkout process and the availability of store associates has increased 32% and 23% respectively since 2008.

Survey results also show that 80% of retail associates agreed that improving in-store communication between staff and managers would have a significant positive effect on shopper satisfaction, and 45% of shoppers would buy at least 50% more merchandise from retailers that provided better customer service.

Other findings include:

• Almost six-in-10 shoppers (58%) have a better shopping experience when store associates use handheld mobile computers to provide pricing and product availability information. More than 65% of store associates agreed that they could better serve customers with these technologies.

• Retailers can recover 68% of out-of-stock (OOS) incidents if they are prepared to offer shoppers the option to order the items before leaving the store and shipping the items to their homes.

• Sixty-one percent of store associates offered purchase and ship options beyond traditional in-store purchases. Approximately 35% of store associates were able to offer online or mobile ordering with in-store pick up for OOS items and 30% could ship OOS items bought in-store to shoppers’ homes.

• Mobile point of sale (MPOS) solutions enhanced the experience of 48% of shoppers while 52% of retail associates recognized the positive effect of mobile checkouts.

“Retailers have better equipped their stores and associates with technology in a meaningful way during the last six years resulting in a better shopping experience and a significant leap in in-store shopper satisfaction,” said Eduardo Conrado, senior VP marketing and IT, Motorola. “By enabling more associates with technology and offering self-service shopping options, retailers are not only increasing sales but also driving greater customer satisfaction."

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REAL ESTATE

Nordstrom Rack announces two new stores for fall 2014

BY Dan Berthiaume

Seattle – Nordstrom plans to open two new Nordstrom Rack stores in fall 2014. The approximately 35,000-sq.-ft. stores will be located at Tempe Marketplace in Tempe, Ariz. and Plaza at Jordan Creek in West Des Moines, Iowa.

The Tempe property is owned and managed by Vestar and the Plaza at Jordan Creek is being co-developed by Hurd Real Estate Services, Inc. and Signature Real Estate Services, Inc.

Though Nordstrom has operated a 628,560-sq.-ft. fulfillment center in Cedar Rapids since 1997, Nordstrom Rack will be the company’s first retail location in Iowa. The new Nordstrom Rack will be the sixth Rack store in Arizona. The company operates two full-line Nordstrom stores at Scottsdale Fashion Square and Chandler Fashion Center.

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