The State of In-Store Retail 2023:

For the past year, economists and consumers alike have been bracing for a global recession. A pandemic and the resulting inflationary woes have affected all business sectors, with the retail industry positioned to take a significant hit. But despite the fears of an economic downturn – fears which appear to be waning by the day – brick-and-mortar retail is poised for solid growth. New store openings, enhanced shopping experiences, and increased traffic all signal in-store retail’s strength in 2023.

In-store Purchases Continue to Dominate 

The growth of e-commerce makes headlines, but the perception that online shopping dominates consumer behavior is grossly overinflated. While omnichannel shopping is now the norm, in-store purchases still make up 80% or more of all sales. More than half (54 percent) of U.S. consumers say they prefer stores to websites, according to a May 2022 report by the customer engagement platform Emarsys. And even if purchase is made online, a visit to a physical store is likely part of the journey; 76% of online shoppers visit a physical store before buying. Brands have responded by rapidly increasing their in-person presence, as evidenced by the surge of new store openings.

Retail Vacancies at Historic Lows

The biggest U.S. shopping mall owners say retailers are still forging ahead with their plans to open new stores in spite of recession fears. Simon Property Group, the country’s largest owner of shopping malls, reported an occupancy rate of 94.9%, up from 91.8% a year earlier.

Overall, retail vacancies in the U.S. reached a new low of 5.7% in Q4 2022, a level not seen since 2007. Currently, new store openings are outpacing closures at a rate of five to one, the largest net expansion in a decade.

DTC Evolves

Even direct-to-consumer (DTC) brands recognize the advantages of brick-and-mortar experiences, with more and more brands filling up these retail vacancies. Allbirds, Wayfair, Harry’s, Untuckit, and Everlane have all opened physical doors in recent years.

When it comes to location, DTC brands may have once pushed for Main Street retail space in dense, urban centers, but they’re increasingly moving to regional malls, says Amish Tolia, co-CEO and co-founder of Leap, a company that helps find and operate physical stores for digital-first companies. Simon Property Group is one developer working to capitalize on the DTC evolution, announcing a partnership with Leap in late 2022 to bring more DTC brands to its venues. 

Experience is Essential

Today, having an in-store presence requires more than just square footage. Experience is critical for drawing in shoppers and enticing them to return. 

Retailers need to provide something more than just a place to make a purchase – a global survey found that nearly 60% of consumers polled expect over half of retail space to be focused on experience rather than product. To remain competitive, retailers will need to shift their physical presence to surprise and delight rather than simply serve as end-of-funnel sales transactions. Whether it’s Sephora offering makeup application classes or Nike’s in-store sneaker customization studio, brands know that engaging with customers will require offerings beyond merchandising. 

Malls on the Rise

The good news around physical retail is certainly benefiting the state of malls. Placer.ai reports that in January 2023, indoor malls, open-air lifestyle centers and outlet malls saw YoY visit increases of 4.1%, 5.2% and 2.7% respectively. The wider trend of YoY uptick is significant because of economic headwinds. 

Lightbox has seen this rebound firsthand, with traffic to our network of malls hitting record highs. Full year 2022 traffic grew +21% over 2021, reflecting a recovery from the lingering pandemic. More impressively, 2022 traffic pulled ahead of pre-pandemic 2019 by +5%. The ongoing trends of store openings and enhanced experiences will only help draw even more audiences to our venues.

SOURCES:

• • PYMNTS, February 14, 2023: Surge of In-Store Shopping Triggers Rise in New Brick-and-Mortar Locations 

• • Retail Dive, November 22, 2023: Simon, Leap aim to bring more DTC brands to malls

• • Inc.: The Future of Retail Isn’t Direct-to-Consumer. How Brands Are Embracing Stores in 2023

• • The Future of Commerce, Retail trends 2023: Social commerce, personalization, omnichannel shine

• • Retail Dive, February 13, 2023: The beauty of building the in-store experience

• • Fashion Network: Experiential retail economy to reach tipping point in 2025

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WITH GOOD NEWS MOVEMENT PARTNERSHIP

New York, NY, January 31, 2023 – Lightbox, a leader in digital out-of-home video, and popular Instagram account Good News Movement have partnered to reach millions of consumers with uplifting video content in the real world. 

This collaboration showcases positive stories on Lightbox’s HD video screens in retail venues nationwide. In the form of 15 or 30 second videos with sound, Good News Movement (GNM) content will feature feel-good viral stories to deliver a boost of positivity to shopping audiences.

Started by journalist Michelle Figueroa, GNM is an online media platform dedicated toward populating news feeds with optimistic headlines and imagery. GNM has attracted over 4.6 million followers on Instagram, striking a chord with those seeking a remedy for the negativity common in mainstream media.

Lightbox is thrilled to broadcast GNM’s content within its creative rotation to brighten the mood of its retail venues with ultra brand-safe content and help advertisers promote their messaging to consumers in a hopeful mindset. GNM creative will be constantly refreshed on the network, highlighting its latest stories and maximizing engagement among audiences in high-traffic settings.

Lightbox’s integration with GNM is now live across Lightbox’s national network of shopping and lifestyle centers. Check out a video spot featured on the Lightbox network here, and give @goodnews_movement a follow for a daily dose of good news.

Press Contact

Zach Cohen

zach@lightboxooh.com

About Lightbox

Lightbox is a leading digital out-of-home video network that leverages technology and creativity to connect advertisers with 60 million consumers in the real world. The premium video network offers national scale with hyper-local execution via 4,800 can’t-miss screens in shopping environments and city street window fronts across the U.S. For more information: www.lightboxooh.com

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Senior Hires Include Twitter and Paramount Alumni

New York, NY, January 25, 2023 – Lightbox, a leading video out-of-home network, announces three new senior hires to help drive the company’s continued growth. The key roles consist of a mix of new and elevated positions to help Lightbox accelerate strategic initiatives in 2023 and beyond. 

Lightbox welcomes Twitter alum Sandy Earley as SVP, Strategic Sales; VisuWall founder and CEO Kobi Wu as SVP, Innovation and Strategic Technology; and Paramount alum Victoria (Tori) Shannon as VP, Human Resources. The three additions bring a wealth of experience in digital media and technology, having served leadership roles in their respective fields.

Sandy Earley, SVP Strategic Sales, joins Lightbox fresh off of a nine-year tenure at Twitter where she oversaw key Tech & Telco partnerships, growing it to be one of the company’s largest ad categories. Prior to joining Twitter, Ms. Earley was Director of East Coast Sales at Vevo, the world’s leading music video network. Years prior, she worked at media brands including FOX Sports, Microsoft and Sports Illustrated. At Lightbox, Ms. Earley will develop and manage a newly formed Strategic Sales team.

Kobi Wu, SVP Innovation & Strategic Technology, was most recently the founder and CEO of VisuWall Technologies, an AI platform that largely served window front media. It was here Ms. Wu delivered commercial real estate for Lightbox’s window front campaigns, such as those for Columbia Sportswear and Nordstrom Rack. Now at Lightbox, she will lead the company’s continued growth in video-based window front media. Ms. Wu is a former music industry executive with more than 18 years of marketing and advertising experience, including serving as SVP Strategy & Creative for Combs Enterprises, Sean Combs’ portfolio of brands.

Victoria (Tori) Shannon, VP Human Resources, joins Lightbox from ViacomCBS, now Paramount Media. At Paramount, Ms. Shannon worked exclusively with the Digital Sales organization to provide coaching and counseling in areas of change management, organizational design and talent management. Prior to Paramount, Ms. Shannon was the Human Resources Director at Wenner Media, home to Rolling Stone, Us Weekly and Men’s Journal.

“I couldn’t be more excited to have these three digital media pros join Lightbox,” says Eric Steinert, Lightbox’s Chief Revenue Officer. “Each has a stellar track record in their respective fields, so we’re incredibly fortunate to have this new roster of leadership. The addition of Sandy’s sales expertise, Kobi’s success in innovation, and Tori’s experience in building world-class teams brings Lightbox to a whole new level as a media sales organization.”

Press Contact:

Heawon Yoo, Lightbox 

won@lightboxooh.com

About Lightbox

Lightbox is a leading digital out-of-home video network that leverages technology and creativity to connect advertisers with 60 million consumers in the real world. The premium video network offers national scale with hyper-local execution via 4,800 can’t-miss screens in shopping environments and city street window fronts across the U.S. For more information: www.lightboxooh.com

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Any notion that malls are still in recovery mode was put to bed in 2022. Remnant memories of lockdowns and capacity limitations are now miles in the country’s rearview mirror, once again making malls a top destination for shopping and socializing. The Lightbox (LB) mall network followed suit throughout the year, with consumers visiting our retail venues at rates higher than pre-pandemic.

2022 Traffic 5% Higher Than 2019

Motionworks (formerly Intermx) reported that 2022 traffic to LB malls was stronger than ever, surpassing 2021 levels as well as pre-pandemic 2019. LB closed the year with mall traffic at +21% above YAG 2021 and +5% above 2019.

Traffic Swells in Top Markets

The Top 10 DMAs saw excellent mall traffic in 2022, exhibiting significant lifts compared to last year and 2019 (+28% and +5%, respectively).

The West Coast region led the pack, with Los Angeles traffic surpassing 2019 by +12% and San Francisco surpassing by +34%. Other top DMAs – like New York, Philadelphia, and Boston – also saw sizable traffic growth, ranging from +7% to +22% vs. 2019.

The Holiday Traffic Gift Keeps On Giving

Despite economic slowdowns, recession fears, and a myriad of severe weather conditions, 2022 LB Holiday traffic saw a healthy bump of +38% vs. 2022 Non-Holiday timing. Compared to past Holiday seasons, 2022 saw a +2% lift vs. YAG 2021 and a +9% lift vs. 2019.

Consistent with industry projections, 2022 Holiday shopping started early and ended later for LB shoppers, with inflation concerns driving consumers to get a head start on gift deals.

LB Holiday traffic began as early as the week of 10/3 and continued upwards through Cyber Monday – averaging an +8% lift week-over-week from 10/3 to 12/4 – with Cyber Monday week’s traffic +29% above 2021 and +30% above 2019. After peak Cyber Monday traffic, visitors slightly dipped but then continued ascending through Christmas.

Full Steam Ahead

Whether evaluating the top 10 markets, the holiday season or year-long averages, 2022’s record traffic to LB venues served as a strong indicator that Lightbox malls are filled with millions in audience, reachable through can’t-miss video advertising.

Sources: Motionworks. Mall traffic defined as total number of visitor visits who stayed at location for more than 15 mins for each visit, and excludes mall employees (defined as persons seen at the location for more than 4 days a week and spend more than 3 hours a day at location). Holiday & Non-Holiday Season definition: Holiday time period defined as Nov-Dec avg, Non-Holiday time period defined as Jan-Oct avg. Weather Source: NOAA (National Oceanic and Atmospheric Administration), Weather Nation

Press Contact

Zach Cohen
zach@lightboxooh.com

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Through Lightbox Unlimited Street-Level Video

New York, November 4, 2022 – Lightbox, a leader in digital out-of-home video, and Columbia Sportswear are establishing Omni-Heat Infinity (OHI) technology as the gold standard in warmth through a showstopping digital window front activation.

Complementing Columbia’s national presence on the Lightbox mall network – inspiring shoppers in a buying mindset to gift OHI gear – this buzzworthy window activation further drives mass reach and engagement during peak holiday retail timing. The placement sits steps from the commuter hub of Grand Central Terminal, with its wraparound corner presenting the perfect canvas for Columbia messaging in the heart of Midtown Manhattan. Check out a sizzle reel here.

The execution is part of the Lightbox Unlimited (LBU) offering, which leverages state-of-the-art LED to transform commercial window fronts into oversized, full-motion video displays. Columbia’s particular location comprises a mix of modular LED panels and printed vinyl, forging a true domination effect turning the heads of bustling NYC pedestrians and motorists.

Lightbox Studios ideated and custom-built the “ice melting” video segment to demonstrate the extraordinary warmth of OHI apparel – potent enough to thaw thick ice and appear as pristine as ever. The execution integrates a dynamic weather trigger that prompts the video screens to freeze when temperatures dip, making the comfort of a well-made winter jacket even more appealing to shivering onlookers. And for a truly unique multi-sensory experience, the display includes audio, which emanates synchronized sounds of ice cracking followed by warm, heavenly glows that are audible to passersby. 

Brands across the media landscape are seeing the immense value of eye-level video advertising in real life. By merging engaging and contextual creative messaging with great scale, advertisers like Columbia are sure to make a splash in Q4 and beyond.

Press Contact

Zach Cohen
zach@lightboxooh.com

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With Immersive Trip Builder and 360° Experience

New York, August 26, 2022 – Lightbox, a leader in digital out-of-home video, has partnered with Travel Texas to drive tourism to the Lone Star State through a custom augmented
reality (AR) experience. 

Activated from Lightbox’s nationwide digital video screens, audiences are “stepping into Texas” by entering virtual portals that immerse them in various real-world destinations via 360° sights and sounds – from mouth-watering BBQ joints, to vast caverns, to breathtaking mountain vistas. Check out a sizzle reel here.

The campaign is currently live in malls across the U.S., prompting users to scan an on-screen QR code with their mobile devices to activate the experience. From there, users personalize their itineraries through a trip builder stage before placing portals in their in-person environments. After tapping to enter, users are transported to their selected locales with options to learn more or share to social platforms.

Lightbox Studios custom-built the experience by capturing and editing 360° footage from over a dozen Texas locations, constructing a multi-layered questionnaire, producing voice-over and designing 3D assets. London-based and leading AR studio Zappar wrapped it all within a bespoke web app.

Digital out-of-home companies, like Lightbox, are leveraging AR to converge digital and physical spaces for consumers in high-traffic settings. The resulting products bring brand messaging in physical environments to life on digital devices to expand storytelling, enhance discovery, and drive engagement – all from a simple scan.

Press Contact

Zach Cohen
zach@lightboxooh.com

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Adds 2,800 Locations to Its Retail Media Network

New York, June 29, 2022 – Lightbox, a leader in digital out-of-home video, has expanded its retail media network to include grocery stores nationwide. This new Digital Video Grocery Network joins Lightbox’s national mall assets to further extend its video reach in point-of-sale venues. 

The expansion adds 2,800 supermarkets across the country and 3,000 screens to Lightbox’s retail footprint. Over 100 grocery brands such as Albertsons® and Giant Eagle® have 30” screens located on Redbox kiosks primarily at entrance, while a NYC-centric network – in partnership with Velocity MSC – includes D’Agostino and Gristedes with 31” screens at checkout. The prominent digital video placements are strategically positioned to help advertisers connect with shoppers throughout their retail visit. 

Lightbox’s Digital Video Grocery Network also reaches the Hispanic demographic through El Rancho Supermercado, the leading grocer catering to those communities across Texas.

“Demand for these audiences is very high, and this is something our team has been working on for over a year. We didn’t want to dip our toe in the water, we wanted to go big. This network significantly increases our screen count and delivers a very distinct audience across some of the biggest grocers in the U.S.” says Greg Glenday, CEO of Lightbox. “These are high-frequency destinations – with American consumers going to the grocery store on average 1.9 times per week – and the screens provide an invaluable connection point for advertisers to reach audiences in brand-safe environments. Since we’re already experts in effectively reaching consumers in a shopping state-of-mind via our mall network, the grocery locations are a natural extension of our retail media portfolio.”                                                                                                                                                          

Lightbox’s Digital Video Grocery Network is the company’s latest expansion into environments where consumers shop, work, and play. In addition to its retail media footprint, digital video impressions are available and delivered in WeWork spaces, commercial window fronts, and recreational destinations across the U.S.

Press Contact:

Heawon Yoo, Lightbox 

won@lightboxooh.com

About Lightbox

Lightbox is a leading digital out-of-home video network that leverages technology and creativity to connect advertisers with millions of consumers in the real world. The premium video network offers national scale with hyper-local execution via 8,500  can’t-miss screens in shopping destinations, WeWork locations, and city street window fronts across North America. For more information: www.lightboxooh.com

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ORLANDO―Infuse Digital and Encore Capital Management have announced a partnership with digital out-of-home media company Lightbox to represent the digital display network at Margaritaville Resort Orlando and Sunset Walk Orlando. As part of the multi-year representation agreement, Lightbox will manage media sales for the digital network across both properties, including exterior kiosks, exterior LED spectaculars, roadside LED monuments, LED identification pylons, and other digital assets.

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Lightbox OOH Video Network Announces Promotion of Heawon (Won) Yoo to EVP/Chief Marketing Officer

Won Yoo joined Lightbox in 2018 after a successful career at across advertising and media at companies like BBDO, Deutsch, Rolling Stone, and US Weekly. Heawon has been instrumental in restructuring the marketing function at Lightbox across creative, research, integrated marketing, and B2B.  Lightbox successfully relaunched with a new brand identity in 2019, and has since evolved the network to include WeWork screens and the one-of-a-kind offering, Lightbox Unlimited, that can turn any open windowfront into a premium digital video screen. 

“Won has been a key leader here since the day she walked in.  She’s a rare combination of creativity, work ethic, big thinking, and attention to detail.  Frankly, she’s been the CMO all along and we are thrilled to make it official.  We have a blindingly bright future at Lightbox and Won is a huge reason for that.”  Said Lightbox CEO Greg Glenday.  

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Lightbox CEO Greg Glenday and Bank of America’s SVP, Customer Engagement and Media Investment, Lou Paskalis led a roundtable conversation that spanned short term and long term disruptions on marketing, the advantages of digital OOH for nimble brands, why context matters, and more.

The post Lightbox’s Greg Glenday and Bank of America’s Lou Paskalis Discuss The Power of Associative Context for Brands appeared first on Lightbox.