Validates resurgence of consumer demand for in-person retail experiences
PREIT today announced the upcoming addition of Warby Parker and Amazon 4-Star at its Cherry Hill Mall property. The highly-coveted e-commerce brands are set to open locations in the first half of 2022, a positive indication that companies and consumers are valuing the tactical experience of physical stores.
- Warby Parker, the eyewear brand founded with a mission to inspire and impact the world with vision, purpose and style, will open its first South Jersey location in spring 2022.
- Amazon 4-star is also set to open in the first half of 2022, offering an ever-changing and highly curated assortment of top-selling products from Amazon.com.
These historically e-commerce brands join recent additions, Purple and Peloton, indicating an increase in consumer demand for in-person retail experiences.
- Peloton opened a permanent, in-line location after its temporary unit proved successful.
- Purple, the innovative mattress company offering a proprietary technology, opened earlier this month.
“Cherry Hill Mall continues to lead the PREIT fleet by attracting high-quality tenancy and generating traffic,” said Joseph F. Coradino, CEO of PREIT. “We have long believed that at the confluence of online and offline retail lives a great customer experience. The physical world allows for an unmatched marketing opportunity for brands to engage with consumers and to offer instant gratification sought by so many.”
Other exclusive additions and transformations continue to occur.
- Miniso, a Japanese-inspired lifestyle product retailer, opened its first east coast location at Cherry Hill Mall earlier this year, offering household goods, daily life products, health and beauty supplies, fashion accessories, digital products, and food and toys.
- Dynamite, a trendy Canadian retailer, recently relocated and opened a forward-looking, one-of-a-kind, tech-enabled store that has only one of each item on the floor. In this new format, cutting-edge prototype, the customer scans the item and requests a particular size that is delivered straight to their dressing room.
Earlier this year, Rally House, offering licensed team apparel and gifts, and Windsor, a women’s clothing and fashion retailer, opened new stores. Other new additions anticipated just in time for holiday shopping include aerie and SolePly, a local sneaker reseller.
These additions authenticate Cherry Hill Mall as the premier shopping and dining destination on the east side of Philadelphia. PREIT’s trophy asset, the property is experiencing solid leasing activity based on strong sales momentum and market-leading position. On a rolling 12-month basis, through September 2021, sales are up nearly 17% compared to the rolling 12-month period ended September 2019. Since May 2021, an average of 98% of 2019 shoppers have returned to Cherry Hill Mall.