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Retail Rents Plummet In NYC As Vacancies Rise

PYMNTS

Retail rents have plummeted to historic lows in New York City amid the COVID-19 pandemic, as bankruptcies and vacancies penetrated the area, CNBC reported on Friday (Jan. SoHo was part of the roughly eight areas in the city that saw their lowest average asking rents in at least a decade.

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New York City Mulls Fur Sales Ban

PYMNTS

Following the lead of other municipalities, New York City could be going fur-free with a proposed law on the horizon. Council Speaker Corey Johnson recently introduced a bill to ban companies from selling fur apparel in the city, which comes after similar efforts in cities such as West Hollywood, Calif.,

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New York City Sees Lower Rents Due To Pandemic

PYMNTS

The New York City real estate market, battered like other economic sectors by the coronavirus pandemic, is seeing lower rates than it has in almost a decade. That has sent rents falling steeply with no signs of turning around soon.

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Walmart Bringing Same-Day Delivery To New York City

PYMNTS

s Jet.com unit is getting into the same-day grocery delivery market, gearing up to offer the service in New York City. Jet told Bloomberg the new fulfillment center will result in the creation of hundreds of new jobs. Landsman had previously headed marketing at E-Trade. Walmart Inc.’s

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N26 pursues US market with ads that speak to customer pain points

Bank Innovation

New York City commuters this week will have their first exposure to European banking brand N26 through ads posted on subway cars. The Berlin-based company launched its mobile banking product to U.S.

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How Experiential Retail Is Giving Physical Stores An Edge

PYMNTS

As 2020 unfolds, the retail business has been dramatically altered. But with consumer spending holding steady, it’s important for retailers to grasp the opportunity to create innovative ways to get, keep and grow customers. And retailers that deploy experiential tactics drive repeat purchases at rates nearly twice those who don’t.

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How AR/VR Tech Is Reshaping Retail

PYMNTS

Before consumers started to trade brick-and-mortar shopping experiences for eCommerce websites, retailers could bring customers through their doors with window displays. According to the PYMNTS Virtual Reality In Retail Report , there are expected to be 100 million AR/VR headset users by 2022.

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