The local retail industry is probably similar to most other industries, in that it would benefit from more stability in the broader economy, writes Stephen Lebovitz, CEO of CBL Properties, a Chattanooga-based company that owns and operates shopping centers across the country.
Still, he’s optimistic. “We’ve seen sustained growth in sales and traffic,” he writes, “and the mall industry in general has rebounded well relative to other commercial real estate sectors post-Covid.”
Danielle Landrum, owner and founder of Locals Only Gifts & Goods, wishes more people understood the financial impact of shopping locally year-round.
“When you buy from a small shop, you’re helping someone live their dream, and you’re keeping money in your local economy,” she writes. “Supporting locally made brands is an investment in your community.”
Danielle Landrum, founder and owner, Locals Only Gifts & Goods
How is technology transforming your industry right now?
For marketing, social media video editing tools have made it much easier to create short, eye-catching content that grabs attention, whether it’s a silly video or a quick feature on a local product. People love seeing the story behind the products that we carry.
We’ve also been using AI to improve SEO for our website and product descriptions, which helps people find us more easily online. Point-of-sale software and e-commerce websites are becoming more integrated, which makes tracking inventory and managing online sales easier.
Software has improved significantly in the 10 years that I have owned my store. Even though we’re a small, locally focused shop, these tools make it possible to run things like a much larger retail operation.
What is the biggest challenge your industry faces in the year ahead?
The biggest challenge for small retailers is competing with big box retailers. To overcome this, we have worked to maintain the charm and community feel of our shop. Our staff members are always friendly and welcoming. We also do fun things for customers like a free popcorn bar, putting out sidewalk chalk for the kids, or setting up sidewalk games to play.
How are you using AI today, and where do you see it going?
I’ve started using AI for brainstorming content for social media and our website. However, I try to be mindful that I want to support the people in our community as well. Some things are just better when done by a human, especially when it comes to creativity and artistic expression. I see AI continuing to grow as a support tool, especially for small business owners who wear a lot of hats.
Stephen Lebovitz, CEO CBL Properties
How is technology transforming your industry right now?
Retail continues to evolve with technology, especially the rise of online shopping. Retailers and mall owners are investing in their digital capabilities, allowing customers to shop where and how they prefer. In-store and online now work together to enhance the shopping experience and drive sales. At CBL, we’ve partnered with Adeptmind to pilot Inventory Insider — a tool that aggregates our retailers’ local inventory on our website, letting customers shop all stores in one place: hamiltonplace.com/products.
What is the biggest challenge your industry faces in the year ahead?
There’s a lot of uncertainty lingering around proposed tariffs. CBL is not a retailer, and is well-insulated from immediate impacts, but rising costs for retailers and consumers could certainly impact consumer spending. It also makes it difficult for retailers to plan, order inventory and prepare for the upcoming back-to-school and holiday seasons. Fortunately, the anticipated impact has lessened somewhat, and retailers are being creative about mitigating any future impact.
What kinds of skills will workers in your industry need? Will a college degree still matter?
The retail industry has always supported a wide range of skill sets and education levels from entry-level positions that require little-to-no experience to professional positions that require a specific background and education. As the offerings at malls have broadened in recent years to include more non-retail uses like hotels, fitness, entertainment, restaurants and other experiences, this has only increased the need for a broad range of talent and backgrounds in our industry.
Are you navigating the balance between remote and in-office work? What are some impacts you’re seeing?
Our team works primarily in office with one optional work-from-home day. Since our business is in-person, and our retailers and mall teams can’t do their jobs from home, we believe it’s important to reflect that in our corporate office environment as well. We believe that there are also significant benefits to in-person interactions, hallway conversations and meetings that lead to more spontaneous collaboration.
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