Michael Stoler Report Newsletter The Stoler Report-New York's Business Report
This week join Michael Stoler on the television productions of New York Real Estate TV, LLC.
Monday, March 25th, Michael Stoler's guest on "Building New York-New York Life Stories" is Reverend A. R Bernard. Building New York, airs a total of ten times including two times nationally on Tuesday evening at 9 PM and 12 Midnight on JLTV & Direct TV.
On Tuesday evening, March 26th, the topic of the Stoler Report-New York' Business Report is "What's Happening in Queens?
My guests on the broadcasts include David Brause, Steve Chen, Michael Meyer and Jeremy Shell.
The Stoler Report-New York's Business Report now airs a total of 15 times a week on CUNY TV in New York City and PBS in the region.
Every Monday morning you will receive the latest real estate article by Michael Stoler on the state of the market an information about the upcoming guests on the productions of New York Real Estate TV, LLC
Hyatt Hotel's invade Manhattan
The Grand Hyatt New York, the crown jewel of the Hyatt hotel operation in New York City is located directly east of Grand Central Terminal on Lexington Avenue and 42nd Street. The property was originally built and opened in January 1919, as The Commodore Hotel, and was completely rebuilt and modernized in 1980.
In July, 2010, The Andaz 5th Avenue, another Hyatt hotel, located at 485 5th Avenue, across from the New York Public Library welcomed its first guests. Earlier that year, the Andaz Wall Street opened in lower Manhattan at 75 Wall Street in the former Barclays Bank building.
It was the summer of 2011, specifically in August when the 116 luxury suite, Hyatt48Lex opened its doors at the corner of Lexington Avenue and 48th Street. According to the trade, May 1st is the date of the planned opening of the Hyatt Union Square at 13th Street and Fourth Avenue. Construction is underway for the Hyatt's first luxury hotel in Manhattan, the 210 room The Park Hyatt New York, will be located at 157 West 57th Street in collaboration with Extell Development Corporation.
Earlier this month, Hyatt Hotels Corporation, Chesapeake Lodging Trust and Real Hospitality Group announced the opening of Hyatt Place New York/Midtown-South, the first Hyatt Place property to debut in New York City. The 185 room Hyatt Place New York/Midtown-South is located on West 36th Street between 5th and Sixth Avenue.
Chesapeake Lodging Trust, a hospitality trust closed on the acquisition of the property in March, for a purchase price of $76.2 million, or approximately $412,000 per key. They purchased the property from The McSam Hotel Group. The REIT entered the New York City market in December 2011, when they purchased the 122 room Holiday Inn at 30 West 31st Street, paying $52.2 million, paying approximately $428,000 per key.
Decline in luxury consumer confidence can have a direct effect on retail sales in 2013
Retail Customer Experience, Top 100 for 2012-Constantly changing each and every year
Retailing is constantly changing with purchasing habits, smaller brick and mortar retailers and heavy reliance on e-commerce. In a study commission by Motorola for Retail Customer Experience recently released a study
Identify the hundred of trends, technologies, brands, strategies and people that are having an impact on retail. They assigned them numerical votes based on their influence and impact on customer experience, and the results rankings.
This year, Top 100 highlights aver very different retail is toddy from just a few years ago. Look at the top of two on the list. Amazon has turned bricks and mortar retail on its ear to the same extend that Apple gutted the retail music industry. Social media remains a huge influence, even as it remains a moving rage that retailers are trying desperately to figure out.
Today there is a new air of optimism in retail, with Tiffany, Neiman Marcus and Nordstrom all in the top 30.
- Discounting which includes proliferation of e-commerce and smartphone, coupons group on, living social.
- The economy and unemployment
- multichannel integration mobile devices multichannel commerce
- mobile commerce
- assortment localization-As consumers continue to trim spending and do more of their shopping on line, big box retailers are moving to smaller stores to reduce under utilized space and stay profitable. AT the same time consumers are treating retail stores as showrooms where they can test driver merchandise before making a purchase. Whether or not they purchase in store, shoppers will increasing turn to their mobile devices to check for better pricing or selection before making that purchase
- Experience design
- Mobile Coupons-smart phone and table owners, planned to scan barcodes more often to get additional information about products.
- Behavioral targeting
- Retail CRM
- Mobile Point of Sale
- In store web access
- Digital products, such as Netflix
- Millennial shoppers those born between 1980 and 2000 are taking depression and frugality to a whole new level. Web savvy Millenial treat each shopping trip as a mission. They know exactly what they are going to buy when they arrive at the store
- Trader Joe's
- Loyalty programas
- Mobile and contact less payments
- Neiman Marcus
- User generation content and reviews
- Digital Signage
- H & M
- Interactive storefront windows
- Smaller store formats
- Groupon/ Living Social, etc
- Ramification of retail
- Bergdorf Goodman
- AT & T Wireless
- Pop UP Shops
- Deal of the Day
- Tablet computers in store
- American Girl
- Victoria's Secret
- Dick's Sporting Goods
- Build a Bear Workshop
- High Tech Dressing Rooms
- Quick Response (QR) Codes
- Best Buy
- LL Bean
- Retail crowd sourcing
- Whole Foods
- Williams Sonoma
- In store adio
- Dollar Tre
- AHOLD USA (Stop & Shop, Giant, Marini, PEAPOD)
- T Mobile
- Green retailing
- Ethnic Retail
- Urgan Outfitters
- Ann Taylor
- TJ Maxx
- Dollar General
- Family Dollar
- Home Depot
- Bed Bath & Beyond
- Bath & Body Works
- Retail at airports
- Cafes and other amenities
- RFID in retail
- Electronic shelf labels
- Abercrombie & Fitch
- Land's End
- Payless Shoe Source
- Godiva Chocolates
Baby Boomers who control 70% of the U.S. Disposable Income
When you here the term Baby Boomer most people think of individuals who are age over sixty years of age. According to the U.S. Census Bureau, a baby boomer is a person who was born during the demographic post-World War II baby boom, between the years 1946 and 1964. Different groups, organizations, individuals, and scholars may have widely varying opinions on what constitutes a baby boomer, both technically and culturally.
Baby Boomers are vibrant, healthy and a very lucrative audience for retailers. As reported in Media Post, brands and agency executives understand marketing to this group of individuals will increase their bottom line.
Baby Boomers represent close to 80 million U.S. consumers and hold 70% of the U.S. disposable income. Baby Boomers are spending the most time and money online each month, more than Gen X and Gen Y. Here are some more facts to solidify your decision:
Consumers ages 47 - 66 (Baby Boomers) Facts:
- Dominate 119 out of 123 consumer goods categories (with coffee top the list of the ten fastest growing consumer goods categories)
- 40% of customers paying for wireless service
- 41% own Apple computers
- 53% are on Facebook
- 40% most likely to use an iPhone
- Over age 50 spend $7 billion online annually
- Purchase 62.5% of new cars
- Purchase 80% of luxury travel
- 70% show up to vote in elections
- Boomers spend more money each month on technology than Gen X or Gen Y - an average of $650 per month
- Spend most on health care
- Spend most on pharmaceuticals
- One in 7 boomers care for a parent or family member
- 71% of Boomers go online every day
- 66% of Boomers send text messages
- Women age 45 + make or influence 80% of household decisions
Money #1 Issue Facing Americans in 2013 Followed by Employment & Economy,
Money, money, money is the number one issue facing Americans in 2013 according to a recent report conducted by Prosper Insights & Analytics.
Money tops the list of issues facing Americans in 2013 according to a recent analysis of the latest data from American Pulse™ (Jan-13). Employment and the economy are also weighing on people's minds, however not nearly as much as issues relating to their finances (or lack thereof).
Top 10 Issues Facing Americans Going Into 2013* (Adults 18+)
Money -- 32.3%
Employment -- 8.2%
Economy -- 7.5%
Cost of Living -- 5.9%
Health/Illness -- 5.5%
Healthcare -- 5.1%
Taxes -- 4.4%
Housing -- 3.8%
Debt -- 3.4%
Government -- 3.0%
More than 77% of Americans found their paychecks are shrinking from higher taxes resulting from the fiscal cliff deal and higher payroll taxes, according to estimates from the Tax Policy Center.
Adding to consumers' money woes is the less-than-stellar employment environment, with a large portion of Americans continuing to worry about unemployment, underemployment, and job security. The number of Americans currently looking for work remains well over pre-recession era levels.