The Modern Retail Podcast Rundown: Malls' Black Friday comeback, a proposed Spindrift acquisition and Foot Locker's lackluster quarter
Dec 7, 2024
Mall traffic is on the rise, with a surprising 7.1% increase during Black Friday, driven by strategic marketing. Gen Z is reigniting interest in malls as social hubs, prompting operators to adapt their strategies. Meanwhile, Spindrift is catching attention due to a potential $650 million acquisition, showcasing its success in the beverage market. On a different note, Foot Locker faces challenges with disappointing earnings and a reliance on Nike, raising questions about its future strategies in a tough retail landscape.
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Malls' Black Friday Comeback
- Mall traffic saw an unexpected surge on Black Friday weekend.
- Simon Property Group reported a 7.1% increase in foot traffic compared to last year.
Gen Z Drives Mall Traffic
- Gen Z's preference for in-person shopping drove Black Friday mall traffic.
- Simon's targeted ad campaigns on platforms like TikTok and YouTube contributed to the surge.
Spindrift Acquisition
- Sparkling water brand Spindrift is in acquisition talks with PE firm Gryphon Investors.
- The deal, reportedly worth $650 million, highlights Spindrift's profitability and market presence.