PREIT's first venture into the space of e-commerce is a brand new back-to-school shopping program and it is billed to be the "first-of-its-kind curated shopping program from a mall owner/operator."
The initiative involves packs with back-to-school supplies that were curated by a professional stylist and handpicked from PREIT malls. The aim is to help students in grades K to 8 prepare for school. Since this approach is a nod to the omnichannel as it brings together physical and digital retail, the back-to-school shopping program is believed to create "a new stream of sales and customers for stores, as well as drive awareness and brand recognition." This is especially important since many businesses have been struggling to make ends meet during the COVID-19 pandemic.
Curated Back-to-School Shopping Programs
PREIT's Small Surprises Features Stylist-Picked Goods
Trend Themes
1. Curated Back-to-school Shopping - Disruptive innovation opportunity: Implementing curated shopping programs that offer personalized back-to-school supplies for students, fostering a seamless omnichannel experience.
2. Omnichannel Retail - Disruptive innovation opportunity: Integrating physical and digital retail to create new streams of sales and customers, enabling brands to build awareness and recognition.
3. E-commerce Expansion - Disruptive innovation opportunity: Exploring e-commerce ventures for mall owner/operators, tapping into new markets and revenue streams beyond traditional brick-and-mortar stores.
Industry Implications
1. Retail - Disruptive innovation opportunity: Transforming the retail industry through innovative back-to-school shopping programs that cater to the preferences and needs of students and their families.
2. Education - Disruptive innovation opportunity: Collaborating with back-to-school shopping programs to offer tailored educational resources and supplies, enhancing the learning experience for students.
3. E-commerce - Disruptive innovation opportunity: Partnering with mall owner/operators to expand e-commerce capabilities and create curated shopping programs, merging the convenience of online shopping with physical retail spaces.