Store Closing Announcements in the U.S. Increased by 97 Percent Year-over-Year

Store Closing Announcements in the U.S. Increased by 97 Percent Year-over-Year

Original Article posted at National Real Estate Investor

Store Closing Data Looks Foreboding for Malls

Fung Global researchers found that year-to-date in 2017, store closing announcements in the U.S. increased by 97 percent year-over-year, to 3,296 locations.

A new research report from Fung Global Retail & Technology, an international think tank that follows retail and technology trends, uses hard data to outline what retail property owners and managers already know—store closing announcements this year have been off the charts.

Fung Global researchers found that year-to-date in 2017, store closing announcements in the U.S. increased by 97 percent year-over-year, to 3,296 locations. The majority of retailers closing stores are typical mall tenants—department store operators and apparel and electronics sellers. The chains with the highest number of announced store closings, for example, include apparel retailer Rue 21 and shoe seller Payless Inc., each with 400 closings apiece…

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Latest Grey Cloak Tech/ShareRails News:

Grey Cloak Tech, Inc. (GRCK) recently acquired ShareRails, Inc., announced today, through an agreement with Pacific Retail Capital Partners, their O2O (Online-To-Offline) Software Application is now live at The Shops at South Town in Sandy, Utah. This break-through technology allows visitors near and inside the shopping center to search for products online and then make the purchase immediately in the center. Read the entire release.

A Look into the Future of Retail from Several Viewpoints

A Look into the Future of Retail from Several Viewpoints

Original Article published at DigitalCommerce360.com

A decade ago, going shopping meant taking a trip to the store or a flip through a catalog. While online shopping was on the rise, it was hardly the new norm for consumers, and it was definitely not an activity that involved multiple devices, including the mobile phone. Who would have predicted that by 2016, one in three digital retail transactions would take place on a mobile device and that consumers would be turning to apps to buy things like new shoes for same-day delivery? More importantly, what if you could have predicted it?

A lot has changed in the past 10 years, so retailers are wondering: what will the next ten years bring? Criteo teamed up with Ovum to take a look at what the landscape will look like in the years ahead, and to predict what’s to come across five key elements in 2026.

The consumer, the storefront, the device, the context and technology…

See the entire article.

Latest Grey Cloak Tech/ShareRails News:

Grey Cloak Tech, Inc. (GRCK) recently acquired ShareRails, Inc., announced today, through an agreement with Pacific Retail Capital Partners, their O2O (Online-To-Offline) Software Application is now live at The Shops at South Town in Sandy, Utah. This break-through technology allows visitors near and inside the shopping center to search for products online and then make the purchase immediately in the center. Read the entire release.

Grey Cloak Tech’s ShareRails, Launches first “Searchable Mall” for Pacific Retail Capital Partners, Allowing Consumers to Find Online and Buy In Store

Grey Cloak Tech’s ShareRails, Launches first “Searchable Mall” for Pacific Retail Capital Partners, Allowing Consumers to Find Online and Buy In Store

Grey Cloak Tech, Inc. (GRCK) recently acquired  ShareRails, Inc., announced today, through an agreement with Pacific Retail Capital Partners, their O2O (Online-To-Offline) Software Application is now live at The Shops at South Town in Sandy, Utah. This break-through technology allows visitors near and inside the shopping center to search for products online and then make the purchase immediately in the center.

Joseph Nejman, Founder of ShareRails said, “We were delighted to work directly with management and individual tenants at The Shops at South Town to discuss their specific needs, onboard their products, and immediately create substantial increases to their Online-to-Offline traffic. We’re looking forward to duplicating this effort in leading shopping centers throughout the U.S. and abroad.”

The ShareRails technology provides the tenants at the Shops at South Town various management, curation, and promotion features that can:

  1. Make Products Discoverable – In-stock products and promotions are instantly searchable online. Additionally, ShareRails creates digital product catalogs that enhance mall and merchant websites.
  2. Drive Foot Traffic – Products appear in local search and social media results. Search results drive customers to the stores by showing store directions, hours, and product details.
  3. Boost Customer Experience – The ability to have a continuous brand experience across devices ensures customers have a personalized touch both in-store and in the digital world.

“We’re excited our tenants are now outfitted with the ShareRails O2O platform. This gives our shopping destinations an edge over local competitors, and for the first time in almost decades, our brick-and mortar owners can compete with the online giants,” explained Najla Kayyem, senior vice president of marketing for Pacific Retail Capital Partners. “We’re looking forward to the success the ShareRails and Grey Cloak teams will create for the wide variety of tenants at The Shops at South Town and our other properties, as we roll it out in select markets over the next few months.”

Most retailers who operate in malls are not able to display their inventory outside of the store without ShareRails, Inc.’s O2O (Online-To-Offline) software platform. ShareRails O2O puts products, plus their specific SKU inventory, online where they can be found in online searches on Google and other search engines.

“The consumer finds and buys the product online, and then picks it up at the retailer, empowering brick-and-mortar merchants with the best of both online and offline shopping to please customers,” explained Nejman. “First, the service provides immediate gratification; the consumer can have the product ready and waiting at their convenience rather than dealing with crowds trying to find or pay for the product; and second, the process allows consumers to examine, and try on if needed, eliminating the hassle of online returns which is still an expensive problem.”

Pacific Retail Capital Partners is one of the nation’s largest operators of malls with more than $1.2 billion in retail assets under management.  This first run of ShareRails’ O2O platform implementation at The Shops at South Town, a 150-store, 1.3 million square-foot shopping center, represents a market test, with more major properties of Pacific Retail to follow. This implementation comes immediately following South Town’s multi-million renovation.

For more information on Grey Cloak, visit http://www.greycloaktech.com. For more information on ShareRails, visit http://www.ShareRails.com. To find out about the Shops at South Town visit www.shopsatsouthtown.com and through social media at:

Facebook: www.facebook.com/theshopsatsouthtown

Twitter: @ShopSouthTown

Instagram: #shopsouthtown

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About Grey Cloak Tech and ShareRails

ShareRails Online to Offline Platform (O2O) levels the digital playing field between e-commerce stores and brick-and-mortar stores by transforming local retailers’ inventory data into rich digital content that is then indexed by Google and other search engines. ShareRails’ platform, once set up attracts prospective customers via online channels to physical stores where they can pick their item up. This serves the “instant gratification” mentality of today’s consumer. Using Internet marketing, social media and email marketing, ShareRails makes it easy for brick and mortar stores to become visible to millions more online shoppers. In addition to the O2O e-commerce services by ShareRails, Grey Cloak offers industry-leading click-fraud detection software. Click fraud, or bot fraud, cost unsuspecting advertisers approximately $18.5 billion annually in 2015.

About Pacific Retail Capital Partners

Pacific Retail Capital Partners is a fully integrated entrepreneurial organization with an unparalleled depth of knowledge in all aspects of retail real estate. Its team of executives and strategic partners draw on decades of experience with major national lifestyle center owners to deliver top tier service as an operating partner and provide efficient oversight of the company’s own portfolio. Pacific Retail’s broad-based talent is versed in multiple disciplines from investment and development, which enables the company to quickly asses market opportunities, to management, leasing and marketing which allows it to effectively control costs and maintain the quality of its properties. Its investment and management portfolio includes West Oaks in Houston Texas; Yorktown Center in suburban Chicago Illinois; Colonie Center in Albany New York; Broadway in Long Island New York, Eastridge in San Jose California; The Galleria in White Plains, in Westchester County, New York; Esplanade just outside of New Orleans, Louisiana; North Park near Jackson Mississippi; Paseo Nuevo in Santa Barbara California and the Shops at South Town in Sandy, Utah.  To learn more, visit http://www.pacificretail.com or follow social media at:

Facebook: https://www.facebook.com/pacificretailcapitalpartners/

Instagram: @PacificRetail

Forward-Looking Statements: Safe Harbor Notice

Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). Grey Cloak Tech Inc. cautions that statements, and assumptions made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates made by management. Actual results could differ materially from current projections or implied results. Grey Cloak Tech Inc. undertakes no obligation to revise these statements following the date of this news release.

For more information on Grey Cloak, visit http://www.greycloaktech.com. For more information on ShareRails, visit http://www.ShareRails.com.

 

How Radical Changes in Consumers and Technology are Negatively Impacting Traditional Retailers

How Radical Changes in Consumers and Technology are Negatively Impacting Traditional Retailers

Original Article posted at TechCrunch

Shifts in a rapidly changing retail world and dramatic changes in consumer behavior continue to be a challenge for some traditional retailers. Legacy retailers that have remained stagnant with their old-guard ways are struggling to maintain sales and stay relevant with today’s consumer.

The successful brands all have one thing in common: They don’t fear change.

The companies that continue to thrive are agile, they change with the times, they embrace new ideas. Brands like Zara, H&M and Nike have adopted this mentality — shedding their old-school skin and stimulating sales, providing customers with expediency, convenience and high satisfaction.

Bottom line: They’re thinking like…

See the entire article.

Grey Cloak Tech and ShareRails are going to help the retailers and the malls

More on ShareRails

Grey Cloak Tech Completes the Acquisition of ShareRails O2O E-commerce Services Platform

Grey Cloak Tech Completes the Acquisition of ShareRails O2O E-commerce Services Platform

Valued at more than $6.4 million, acquisition creates strong synergy

Grey Cloak Tech, Inc. (OTC: GRCK) (“the Company”) today announces that it has completed its acquisition of ShareRails, a provider of online-to-offline (O2O) e-commerce services, which is valued at more than $6.4 million by Excel Management Systems.

ShareRails provides a unique, interactive mobile platform that connects shoppers and retailers by transforming local retailers’ inventory data into rich digital content indexed by Google and other search engines. Grey Cloak Tech’s acquisition of ShareRails provides valuable synergies that will expand the platform’s reach into the social commerce and retail marketing industries.

“The acquisition of ShareRails by Grey Cloak Tech will allow us to accelerate our business model. We have been looking for this opportunity for a long time, and now the opportunity is at hand. Grey Cloak Tech brings a deep knowledge of enterprise software solutions that works seamlessly with our proprietary shopping applications. By combining both systems, it provides the end user with a one-stop-shop solution. This is only the beginning of a long and successful relationship,” stated Joseph Nejman, founder and director of ShareRails.

Nejman will also serve as president of Grey Cloak Tech and as a member of the Company’s board of directors. Fred Covely is now the Company’s CEO, remains on the Board of Directors, and is the chief architect behind the Company’s enterprise software platform.

A Harvard graduate, Nejman formerly served in a variety of business development roles at Google, as well as led the incubator at TomorrowVentures, a prominent venture capital firm. During his time at TomorrowVentures, he sourced and led the investment in Marker Studios, which was acquired by Disney for approximately $1 billion.

ShareRails’ e-commerce platform, supplemented by Nejman’s business development expertise, complements Grey Cloak Tech’s broader expansion strategies.

“This is a great opportunity for Grey Cloak Tech. Our entire management team spent a week in Hong Kong last month with the ShareRails development team. We met with the platform’s existing clients, as well as developed new relationships, and recognize that the online-to-offline business opportunities are substantial in the southeast region of China. In addition, we have made significant headway in the U.S. with regard to new client acquisition. We are excited about this opportunity to work with ShareRails. This is a huge step for our Company’s evolution in the marketplace,” stated Covely.

About Grey Cloak Tech and ShareRails

The ShareRails Online to Offline Platform (O2O) levels the digital playing field between e-commerce stores and brick-and-mortar stores by transforming local retailers’ inventory data into rich digital content that is then indexed by Google and other search engines. ShareRails’ platform attracts prospective customers via online channels to physical stores where they can pick up their items. This serves the “instant gratification” mentality of today’s consumer. Using Internet marketing, social media and email marketing, ShareRails makes it easy for brick-and-mortar stores to become visible to millions more online shoppers.

The ShareRails O2O cloud platform offers retail merchants inventory management, curation and promotion features that can:

  • Make Products Discoverable – In-stock products and promotions are instantly searchable online. Additionally, ShareRails creates digital product catalogs that enhance mall and merchant websites.
  • Drive Foot Traffic – Products appear in local search and social media results. Search results drive customers to brick-and-mortar stores by showing store directions, hours and product details.
  • Boost Customer Experience – The ability to have a continuous brand experience across devices ensures customers receive a personalized touch, both in-store and online.

In addition to the O2O e-commerce services provided by ShareRails, Grey Cloak offers industry-leading secure digital marketing, and click-fraud detection software. Click fraud, or bot fraud, cost unsuspecting advertisers approximately $18.5 billion in 2015.

For more information, visit http://www.GreyCloakTech.com and http://www.ShareRails.com.

Forward-Looking Statements

Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). Grey Cloak Tech Inc. cautions that statements, and assumptions made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates made by management. Actual results could differ materially from current projections or implied results. Grey Cloak Tech Inc. undertakes no obligation to revise these statements following the date of this news release.

CONTACT INFORMATION

Massive Store Closures in Malls by Anchor Store Giants

Massive Store Closures in Malls by Anchor Store Giants

Original Article posted at wwlp.com via NBC News

Sears, Kmart and Macy’s are among the retail giants announcing massive store closures this year, with online competition getting the brunt of the blame. Some experts believe online businesses are forcing brick and mortars to flex the big advantage they have: customer service.

“You can buy almost anything online that you can buy at Lowes, but why would you buy it at Lowe’s? Because you’ve got somebody at the appliance section telling you what the difference is,” says Queens University Professor Steven Cox. Cox also believes reducing the size of stores could be a way to adapt.

“You’ll probably see companies like…”

See the entire article.

Anchor Stores in Malls Closing; its happening everywhere

Anchor Stores in Malls Closing; its happening everywhere

Original Article posted at Pantagram.com | by Maria Nagle

Over its 50 years, Eastland Mall has experienced the loss of stores and the addition of new ones. That is the nature of retail. But the mall’s immediate future has been shaken by the loss of two anchor stores — Macy’s which closed a week ago, and J.C. Penney, an anchor from the beginning, that will close later this year.

And, while there’s been no announcement that another of the mall’s original anchors, Sears, will close, the company recently announced there is “substantial doubt” that it will be able to keep its stores open.

They join several smaller mall retailers, including The Gap, GapKids, The Limited, MC Sports and Radio Shack, that also have recently closed…

See the entire article.


Big Biz Radio Interview with Grey Cloak Tech’s Management Team; CEO Fred Covely and COO Bill Bossung. (PART 1)

PART 2 of the Interview:

Forward-Looking Statements

Safe Harbor Notice

Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). Grey Cloak Tech Inc. cautions that statements, and assumptions made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates made by management. Actual results could differ materially from current projections or implied results. Grey Cloak Tech Inc. undertakes no obligation to revise these statements following the date of this news release.

For more information on Grey Cloak, visit http://www.greycloaktech.com. For more information on ShareRails, visit http://www.ShareRails.com. For media inquiries, contact Tina Mulqueen at tdavis@greycloaktech.com.

Dying and Dead American Malls – Is there a Solution?

Dying and Dead American Malls – Is there a Solution?

Original Article appears at The Guardian

It is hard to believe there has ever been any life in this place. Shattered glass crunches under Seph Lawless’s feet as he strides through its dreary corridors. Overhead lights attached to ripped-out electrical wires hang suspended in the stale air and fading wallpaper peels off the walls like dead skin.

Lawless sidesteps debris as he passes from plot to plot in this retail graveyard called Rolling Acres Mall in Akron, Ohio. The shopping centre closed in 2008, and its largest retailers, which had tried to make it as standalone stores, emptied out by the end of last year. When Lawless stops to overlook a two-storey opening near the mall’s once-bustling core, only an occasional drop of water, dribbling through missing ceiling tiles, breaks the silence.

“You came, you shopped, you dressed nice – you went to the mall. That’s what people did,” says Lawless, a pseudonymous photographer who grew up in a suburb of nearby Cleveland. “It was very consumer-driven and kind of had an ugly side, but there was something beautiful about it. There was something…

See the entire article.

Big Biz Radio Interview with Grey Cloak Tech’s Management Team; CEO Fred Covely and COO Bill Bossung. (PART 1)

PART 2 of the Interview:

Forward-Looking Statements

Safe Harbor Notice

Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). Grey Cloak Tech Inc. cautions that statements, and assumptions made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates made by management. Actual results could differ materially from current projections or implied results. Grey Cloak Tech Inc. undertakes no obligation to revise these statements following the date of this news release.

For more information on Grey Cloak, visit http://www.greycloaktech.com. For more information on ShareRails, visit http://www.ShareRails.com.

Five Vantage Points on the Future of Retail Business in America

Five Vantage Points on the Future of Retail Business in America

Original Article posted at Digital Commerce 360

There will be fewer stores and retailers will have to take a shopper’s context into account when serving her, often via her mobile phone.

A decade ago, going shopping meant taking a trip to the store or a flip through a catalog. While online shopping was on the rise, it was hardly the new norm for consumers, and it was definitely not an activity that involved multiple devices, including the mobile phone. Who would have predicted that by 2016, one in three digital retail transactions would take place on a mobile device and that consumers would be turning to apps to buy things like new shoes for same-day delivery? More importantly, what if you could have predicted it?

A lot has changed in the past 10 years, so retailers are wondering: what will the next ten years bring? Criteo teamed up with Ovum to take a look at what the landscape will look like in the years ahead, and to predict what’s to come across five key elements in 2026…

See the entire article.

GeoLocation is Changing Marketing as We Know it

GeoLocation is Changing Marketing as We Know it

Original Article posted at Fortune.com | by Chirag Kulkarni

Geolocation is the next buzzword in marketing…

As brands discover the power of GPS-fueled augmented reality (think Pokémon Go), they’re finding new ways to reach customers. For them, it’s meaningful not only to know not only where a consumer is, but also where that consumer’s attention is, and technology is making that possible.

“Every advertiser has an understanding of where consumers are located through their devices translated as specific GPS coordinates,” says Jim Kovach, vice president of business development at CrowdOptic, an augmented reality technology firm that has worked with L’Oreal, Sony and IMG. Kovach sat down with me to talk about trends to watch as geolocation sweeps marketing and advertising. Here are 15 trends to watch…

See the entire article.

Big Biz Radio Interview with Grey Cloak Tech’s Management Team; CEO Fred Covely and COO Bill Bossung. (PART 1)

PART 2 of the Interview:

Forward-Looking Statements

Safe Harbor Notice

Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). Grey Cloak Tech Inc. cautions that statements, and assumptions made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates made by management. Actual results could differ materially from current projections or implied results. Grey Cloak Tech Inc. undertakes no obligation to revise these statements following the date of this news release.

For more information on ShareRails, visit http://www.ShareRails.com. For media inquiries, contact Tina Mulqueen at tdavis@greycloaktech.com.