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Industry Landscape
The retail real estate industry is undergoing significant transformation, adapting to e-commerce growth and changing consumer preferences. Malls are evolving into mixed-use destinations, offering diverse experiences beyond traditional shopping to maintain relevance and attract foot traffic. This requires innovation in tenant mix, digital integration, and community engagement.
Total Assets Under Management (AUM)
Retail Sales in United States
~7.05 Trillion USD (2023, U.S. Census Bureau)
(3.5% (2023-2024 forecast, Deloitte) CAGR)
- E-commerce continues its steady growth.
- Inflation impacts consumer purchasing power.
- Experiences and services drive physical retail visits.
Total Addressable Market
1.3 Trillion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Personalization
Utilizing artificial intelligence and machine learning to analyze shopper data and provide highly personalized recommendations, offers, and experiences in real-time.
Augmented Reality (AR) in Retail
Integrating AR technology for virtual try-ons, interactive store navigation, and immersive product visualizations within physical retail spaces and online platforms.
Omnichannel Retail Platforms
Developing seamless integrated platforms that blend online and offline shopping experiences, including BOPIS (Buy Online, Pick Up In Store), endless aisle, and unified loyalty programs.
Impactful Policy Frameworks
American Innovation and Choice Online Act (AICOA)
Proposed in various forms since 2021, AICOA aims to prevent dominant online platforms from unfairly prioritizing their own products and services over competitors'.
This policy could influence Simon's 'ShopSimon.com' platform and its integration with retailers, potentially requiring changes in how products are displayed or prioritized to ensure fair competition.
State Privacy Laws (e.g., CCPA 2018, CPRA 2020, VCDPA 2021, CPA 2021, UCPA 2022)
Various state-level data privacy laws like the California Consumer Privacy Act (CCPA) and its amendments (CPRA), Virginia CDPA, Colorado CPA, and Utah UCPA, grant consumers more control over their personal data collected by businesses.
These laws directly impact Simon's data collection practices through its 'Mall Insider' program, necessitating stricter compliance regarding data transparency, consent, and user rights to access or delete their information.
Americans with Disabilities Act (ADA) Accessibility Guidelines (Ongoing Updates)
Ongoing updates and enforcement of ADA guidelines ensure that physical and digital spaces (websites, apps) are accessible to individuals with disabilities.
Simon must ensure its physical mall properties and digital platforms (ShopSimon.com, Mall Insider sign-up) are fully compliant with ADA standards, potentially requiring significant investments in infrastructure and digital design.
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