Landlords Who Lead: 5 Ways to Respond to Coronavirus

by Carrie Bobb

1. Acknowledge there is a problem. It effects large and small businesses. In McKinsey & Company’s report on Leadership in a Crisis, it said “Early in a crisis, if leaders display excessive confidence in spite of obviously difficult conditions, they can lose credibility. It is more effective for a leader to project confidence that the organization will find a way through its tough situation but also show that they recognize the crisis’ uncertainty and have begun to grapple with it by collecting more information.”[1]

2. Create an opportunity for people to do something to support local businesses during this time. This is an opportunity for the community to see your heart in a different way.

Here is how the Icon Method shared how to support local businesses:

Iconmethod Instagram

3. Highlight some of the businesses you love – whether they are in your project or not. It’s a way to get outside your own property lines.

Below is an example of how Sugar Paper gave a shout out to other local businesses in an email.

SugarPaper email giving a shout out to other local businesses.

4. Give leadership opportunities to team members. Empower people on the ground to work with existing tenants. Allow people the opportunity to respond within set boundaries.

5. Have empathy. Don’t just express it. Actually have it. There is a difference. It is the best response anyone can have in a crisis. Something as simple as saying “I’m sorry,” can go a long way.

Every problem has within it an opportunity to learn and grow. Some opportunities only come around once. And if we look close enough at the problem, we can find an opportunity to do good.[2]

Carrie is the founder and CEO of Carrie Bobb & Co. She is a student of social media and a consumer behavior analytics nerd.

She has closed over $2 billion in total consideration throughout her career. Carrie has completed transactions with brands such as Sephora, SoulCycle, Drybar, Fox Restaurant Concepts, Restoration Hardware and many others. She has implemented leasing strategies through social media and online influencer programming on several projects. She was named one of San Diego’s Power Women in Real Estate and received her MBA from the University of San Diego. Carrie lives in San Diego with her husband, Matt, their three inquisitively adventurous kids and one joyful golden doodle.


[1] https://www.mckinsey.com/business-functions/organization/our-insights/leadership-in-a-crisis-responding-to-the-coronavirus-outbreak-and-future-challenges?cid=other-eml-alt-mip-mck&hlkid=37fc9d2ecd944a61a227b410ffa855ee&hctky=11613830&hdpid=16a43b5b-480b-4b3b-b8cf-bc20fcc11b08

[2] Paraphrase of What Do You Do With A Problem? By Kobi Yamada.

3 Retail Subscriptions I Can’t Live Without

by Claire Plecha

Billie

Billie razor subscription | Photo: Techcrunch.com

Are you tired of paying the extra 10-15% “pink tax” on women’s razors? Enter Billie: a subscription service that offers razors specifically made for women, at half the price of in-store brands. Whereas a 4-pack of Venus cartridges will set you back $20, you can score 4 Billie cartridges for only $9. Billie not only lets you pick the color of your razor, but also tailors the frequency of your deliveries based on how regularly you shave. I was initially overly optimistic about how often I would shave my legs (sigh), and after amassing what might possibly be a lifetime supply of cartridges, I was able to adjust my delivery to every 3 months.

If you hate free shipping, love going out of your way to buy something that could have been sent to your house, or enjoy nothing more than overpaying for razors, then Billie is not for you. I’m guessing this is not the case. Side note – the razors leave my legs silky smooth, I have experienced minimal carnage, and in such cases it was almost certainly due to user error (i.e. “let’s see if I can shave my entire body in 30 seconds”).

Care/Of

Until recently, the last time I remember religiously taking vitamins was in college, when my sweet mom would include gummy vitamins in all of my care packages. Whether it be a cost or convenience factor, I just never seemed to be able to make it a consistent part of my routine, until I discovered Care/of. Care/of assesses your unique health goals and diet to create a personalized blend of vitamins made just for you. No more counting out vitamins each morning, because let’s be honest, no one has time for that. Care/of does the work for you – dividing the vitamins into daily pouches that include an inspirational quote or daily challenge, such as “take a picture of the sunset”. Not only are Care/of vitamins convenient and perfect for travel, but they also are more cost efficient than buying vitamins individually.

Scentbird

Scentbird | Photo: www.scadconnector.com

This might be my favorite subscription service to date. I absolutely love perfume, but always stick to my tried and true scents – never quite able to pull the trigger on a pricey new fragrance. However, my signature scent was recently compromised when the unfathomable happened: my grandmother started wearing my precious Viktor and Rolf Flowerbomb. Because wearing the same perfume as an 88 year old is disastrous for my personal brand (please indulge me, obviously I do not have a personal brand), I found myself in the market for something new. With ScentBird, you can “date perfumes before marrying them”, letting you choose from over 500 designer scents every month. “Why do I need to date perfumes?” you might ask. Because perfume smells different from one person to the next, based on the pH balance of the wearer’s skin. This might explain why the cult favorite “Glossier You” smells divine on most subscribers, but made me smell like I had walked through a cloud of ground black pepper. I wish I was exaggerating.

Each month ScentBird sends you a generous 30 day supply, allowing you to gauge the perfume’s staying power, and decide if it’s something you could commit to as a signature scent. Browse by ratings, preferred scent notes, occasion (date night, office, workout…apparently this is a thing) or even based on fragrances you know and love (“If you like Versace Bright Crystal, you’ll love TOCCA Cleopatra”). Select the ones you would like to try and create your “queue” à la early days of Netflix. My favorite thus far is Nest Black Tulip. My grandma will have to pry this one from my cold dead hands.

Claire Plecha is the Director of Communications at Carrie Bobb & Co. and a subscription retail junkie. She spearheads all marketing, public relations and transactional support for CB&Co. Prior to CB&Co., Claire came from Manchester Financial Group where she was the Director of External Affairs overseeing corporate marketing, media relations and community outreach.

In the Company of Women

by Carrie Bobb

As our family waited for the killer whale show to start at Sea World, we watched a video among a few thousand other people about the ocean. Trivia questions would pop up for the audience to participate. The answer to “If an orca whale and a great white shark got into a fight, who would win?” stopped me dead in my tracks while handing my son popcorn.

Pod of orca whales | Photo credit: Shutterstock

The orca wins every time because the females lead the orca pods. They work together on everything from raising their young to defending the pod. A shark hunts alone and a killer whale hunts with the pod. It’s not a competition. Not even close. Therefore, the orca whale is at the top of the oceanic food chain and has no predator.

It reminded me of lions. When it’s time to hunt, the male lion lets out a roar, clearly staking his claim at the top of the food chain. It can be heard up to five miles away and causes prey to hightail it in the opposite direction.

But it is the pride, the group of lionesses, that are the hunters, hidden in the tall grass motionless waiting and working together for their prey. The lion is at the top of the African savanna food chain.[1]

As part of Intel’s blog, We Are Intel, the company wrote, “At Intel, our vision is simple and direct: diversity drives innovation…We need different creative prospectives, and that means building a workplace where diversity and inclusion thrive.”[2]

In the Company of Women by Grace Bonney | Photo credit: Halli Photo & Co.

As part of the company’s Diversity & Inclusion report, “Intel has achieved full representation in its US workforce two years ahead of its 2020 goal. The company’s workforce now reflects the percent of women and underrepresented minorities available in the US skilled labor market.”

It went on to say, “Retention of women also continues to be a priority at Intel…The company offers several programs to support women through career progression, including ‘Pay It Forward’, a mentoring program scaled to support 6,000 female mid-level employees, and ‘Women at Intel Network.’” It is worth noting that the Women at Intel Network is the company’s largest employee resource group supporting more than 7,000 employees globally.[3]

With annual sales exceeding $70 billion a year, Intel is easily the largest semiconductor company in the world. The company has been listed as Best Employers for Diversity, World’s Best Employers, Best Employers for New Grads, Best Employers for Women, World’s Most Valuable Brands, America’s Best Employers, America’s Largest Public Companies and many others.

Having met with Intel and witnessed their company culture, I can attest to how much their employees love the company. I mean, they genuinely love working at Intel. The value of diversity is evident meeting with people, walking through their campus and participating in corporate settings.

The top of the food chain is not female. The companies (or species) are those who have females working well together.

HOW TO BUILD A CULTURE FOR WOMEN TO COLLABORATE

Foster a culture of teamwork. Women’s networks and organizations supporting women within companies are because it creates an environment for ideas and bridging gaps where the results can be exponential. Carve out space for workshops or business planning sessions where women can come up with new ways to work together to hunt, protect the pack and grow the company.

Reese Witherspoon & advocating for women | Source: vogue.com

Community over competition. Women can be our own worst enemy. We have all seen mean girls in middle school and in the office. This is different than competition. Fostering community builds trust so together we can compete strong. We don’t benefit if we are competing with each other. Strong community builds stronger individuals with more confidence to express ideas and drive results. Kim Scott put it this way, “If you want your team to achieve something bigger than you could achieve alone, if you want to ‘burst the bounds of your brain,’ you have to care about the people you are working with.” Curating a community makes room for companies to achieve bigger things together.

Leave space. When we fill up every inch of our calendars or agendas with how we think something should be done or how it should look, we don’t leave room for something better. And it’s simply because we can’t see it. By creating space and leaving room for diversity and inclusion in our companies, we are leaving room for better.

When women work together, not just for the common good of women, but for the good of the entire pack, magic happens. Companies who see it and embrace it grow closer to the top of the food chain. Or in Intel’s case, remain at the top. 

Photo credit: Halli Photo & Co.

Carrie is the founder and CEO of Carrie Bobb & Co. She is passionate about companies who do good, empowering people and she is a consumer behavior analytics nerd.

She has closed over $2 billion in total consideration throughout her career. Carrie has completed transactions with brands such as Sephora, SoulCycle, Drybar, Fox Restaurant Concepts, Restoration Hardware and many others. She has implemented leasing strategies through social media and online influencer programming on several projects. She was named one of San Diego’s Power Women in Real Estate and received her MBA from the University of San Diego. Carrie lives in San Diego with her husband, Matt, their three inquisitively adventurous kids and one joyful golden doodle.

[1] https://study.com/academy/lesson/the-food-chain-of-a-lion.html

[2] https://blogs.intel.com/jobs/2018/07/women-of-intel/#gs.wiydx8

[3] https://newsroom.intel.com/news/intel-achieves-goal-full-us-workforce-representation-notes-just-beginning/#gs.wiyr2z

Brick & Mortar Retail in a Digital World | Part III

by Carrie Bobb

The retail game is a much different game than it was not that long ago. Landlords must learn the rules of social media and how to play the game. Retailers are consumers too. And they are looking for the same experiences they provide their customers.

B2B SOCIAL MEDIA MARKETING

Market leaders in the business to business space who are using mobile marketing to engage their audience are seeing it drive or influence an average of 40% of their revenue.[1]

Most retail landlords are not engaging with their audiences the way retailers engage with theirs. Many of the largest retail landlords in the US are either silent on social media or have not engaged in years.

The same strategy retailers are using to grow their businesses works for commercial real estate too. Social media is simply another avenue for landlords to consistently stay in front of brands, potential tenants and engage with the community.

It is more likely than not the first place a prospective tenant, especially digitally native brands, will go to research a landlord.[2]

The risk of slow moving or slow adapting landlords is they are being eliminated from consideration by retailers before they are even aware a brand is contemplating a lease.

HOW TO BUILD A SOCIAL MEDIA BRAND AS A RETAIL LANDLORD

  • There is a difference between a property handle and a company handle. It is not enough for a company to just have a property account. It doesn’t answer the questions: Who are you? Why do you do what you do? Those two questions are extremely important. Property accounts serve a completely different purpose and while the target audiences likely crossover, they are still different.
  • Leverage different platforms differently. Instagram, LinkedIn, Facebook and Pinterest are different tools that target different audiences. And it is not ok to use the same posts across all platforms. (That is a dead give away to younger generations you are closer in age to their parents.) You can use the same content, but use different visuals and different text.
  • Authentic content. Authentic content applies to what is happening in culture, not just real estate. Celebrities and public figures are using social media as a way to share their real lives and connect with their audience. Companies can do that too. It absolutely CANNOT be a sales pitch. It loses people every time. It must be real and genuine.
  • It must matter to you to matter to your audience. It is not enough for a consumer to be satisfied with the end product or service. They want to know their money is being used in a way that aligns with their own lifestyle and values.[3] If a consumer is discovering a company for the first time on social media, knowing the values and what matters to that company impacts their decision to follow, engage or learn more about the company.
  • Have a social media strategy. There is so much potential in social media that a retail landlord must have a clear strategy. It is more than just pretty pictures and cute phrases. There is a way to use these tools to generate revenue, find tenants and make the opportunities discoverable.

The retail world is changing on a daily basis. It is our job to understand consumers and deliver what they are asking for – because retailers are looking.

If you would like to learn how we could assist with leasing through social media, creating an online influencer program and building a social media strategy, we would love to share more with you. Please email us at carrie@carriebobbandco.com or emily@carriebobbandco.com.

Carrie is the founder and CEO of Carrie Bobb & Co. She is a student of social media and a consumer behavior analytics nerd.

She has closed over $2 billion in total consideration throughout her career. Carrie has completed transactions with brands such as Sephora, SoulCycle, Drybar, Fox Restaurant Concepts, Restoration Hardware and many others. She has implemented leasing strategies through social media and online influencer programming on several projects. She was named one of San Diego’s Power Women in Real Estate and received her MBA from the University of San Diego. Carrie lives in San Diego with her husband, Matt, their three inquisitively adventurous kids and one joyful golden doodle.


[1] Boston Consulting Group. Mobile Marketing and the New B2B Buyer. https://www.bcg.com/publications/2017/marketing-sales-digital-go-to-market-transformation-mobile-marketing-new-b2b-buyer.aspx

[2] BrightEdge. Mobile Research Round Up. https://www.brightedge.com/resources/research-reports/brightedge-2018-mid-year-mobile-research-roundup

[3] Brandwatch. (2019). The State of Moral Marketing. www.brandwatch.com/reports/state-of-moral-marketing/view/

5 Do’s & Don’ts to Client Gift Giving

by Carrie Bobb

Shopping for client gifts can be stressful and often just another box that needs to be checked. Here are a few guidelines for when it comes to selecting gifts for clients.

1.Don’t go over your budget. The holidays are stressful enough without adding additional angst by overspending. It’s super easy to get carried away. It’s possible to give thoughtful, meaningful client gifts without breaking your budget. It just requires a little thought up front.

2. Do keep gifts personal. Personal and thoughtful gifts are so much more meaningful than expensive gifts. Keeping gifts personal applies to anyone, not just clients. Lord knows we are over the gift baskets of nuts and cheese.

Susabellas Custom Beverage Tub | Etsy

Sometimes custom wedding gifts can be easily converted into client gifts by using their logo. We have given custom vases, ice buckets, cutting boards, shotskis (fan favorite!) that have property logos on them.

Too often people give gifts with their own logos on them. Gifts should be about the recipient. It is more thoughtful to give your client a gift with their project logo or their company logo on it. Then when they use whatever it is, they will remember who gave it to them.

3. Do keep a small supply of emergency gifts on hand. Nothing is worse than being caught off guard. An extra gift card or two on deck can save time, money and avoid the stress of coming up with a last minute gift. On a personal note, I keep extra candles and fuzzy socks on hand.

Gift cards get a bad rap for not being personal. If you take the time to think about what that client as an individual would really appreciate, gift cards can go a long way. It just depends on what the gift cards are for – Nordstrom, Apple, Target, Amazon or a local spa are some of our favorites. It’s possible to give that person a gift card to a place where they can take their family and have a nice meal or a memorable experience.

4. Don’t wait until the last minute to start shopping. We’ve all done it and it’s the worst. The anxiety and pressure go up, while the quality of the gift does down. It’s worth noting for next year, Marcia Ramsland has a free Holiday Calendar that helps keep everything organized and planned. Making a list and having a plan saves time and makes the holidays more enjoyable!

5. Do make time for doing little things with people you love, including those who work with you. With family, it’s picking out a Christmas tree or baking holiday cookies, these small things can often get shoved to the side of our busy calendar. For our team and co-workers, it could be a team breakfast, dinner or happy hour. Creating space for these things is important, doesn’t cost much and are some of the best things about the holiday season.

Hold My Beer & Watch: Retail Isn’t Dead, Just Different.

by Carrie Bobb

Katie Hunt, Co-Founder of SHOWFIELDS, was on a panel this weekend at Summit LA, the world’s preeminent ideas festival. She looked around the room at innovators and entrepreneurs and shared that when they were acquiring their 14,000 sf space, people told them no one will ever visit the third floor of the four-story building.

To those people who said it wouldn’t work? “We said, ‘Here. Hold my beer,’ and we built a slide,” said Hunt.   

SHOWFIELDS slide connecting the third and second floors | New York Times

With consumer spending at more per capita than ever in history[1], RETAIL isn’t dead. Legacy RETAILERS are dying and there’s a difference. 

In this month’s Fortune article, American Spenders Are Fueling Growth: How Long Can it Last?, shoppers are named as heroes of the economy. The Fannie Mae economists concluded, “Consumer spending remains the most important force driving the continued expansion of the U.S. economy.”[2]

THE ROLE OF BRICK & MORTAR

SHOWFIELDS | Trendhunter.com

SHOWFIELDS is known as “The Most Interesting Store in the World” as they partner with digitally native brands giving them a low risk setting to begin to grow offline.  

“We are not that interesting. We are just a stage for those who are creating the most interesting work in the world,” said Hunt. “Every brand will need a physical touch point in order to scale. We offer physical space for young retailers so you can meet your consumer.” 

In an interview with Bloomberg Businessweek, Erik Nordstrom, CEO of Nordstrom, weighed in on the changes in retail in light of opening a 320,000 sf flagship in Manhattan, “Customers are going to do what they want to do. Our job is not to try to coerce them into a channel or a certain experience that we prefer. Our challenge is to give them options and let them do what they want to do.”[3]

CREATING CONNECTION

The Drug Store | Irisnova.com
The Drug Store is a conceptual retail experience used to test new beverage concepts before they are produced in bottle format on a national scale.

Zak Normandin, Founder & CEO of Iris Nova the parent company for DirtyLemon and The Drug Store, was on the panel with Hunt. He said, “Consumers don’t want to be sold to or advertised to through the Instagram experience as much any more. They want connection. They are craving actual, real connection. They want the physical store experience.” 

When asked about the importance of creating Instagrammable spaces, Hunt replied, “We are creating authentic moments. That’s the secret sauce. We would have run out of ideas if we were just creating Instagrammable moments. Instead we are giving creators, entrepreneurs a canvas to storytell. What they are building and creating with their brand is beautiful. And people should want to take a picture.” 

Stories matter. Consumers care about the founders story. 

Consumers are spending at record rates, yet stores like Barney’s are closing.

It is the age of the creator. People are craving innovators, creators and thinkers. Normandin suggested the future could have less billion-dollar companies and more starter companies. Innovation is driving starter culture.

The marketplace is being run by consumers. And consumers want community and connection. 

To those who say it can’t be done, grab a beer and watch, because some things are being built differently.

Carrie Bobb is the Founder & CEO of Carrie Bobb & Co. She has completed transactions with brands such as Sephora, SoulCycle, Drybar, Fox Restaurant Concepts and many others. She was named one of San Diego’s Power Women in Real Estate and received her MBA from the University of San Diego. Carrie lives in San Diego with her husband, Matt, their three inquisitively adventurous kids and one joyful golden doodle.


[1] https://fortune.com/2019/10/23/consumer-confidence-us-economy-growth-gdp/

[2] https://fortune.com/2019/10/23/consumer-confidence-us-economy-growth-gdp/

[3] The Case for Flagship Stores in the Age of the Internet – Bloomberg Businessweek

https://apple.news/A8TTcvlxsSgOokUg4oZxzWg

BIG, LOUD & CONSUMING: The Ippolito Family and raising GenZ consumer-kids

by Rob Ippolito

The Ippolito Family

Raising a large family has always been a goal and passion for my wife and I…We both come from large families and wanted to live in a loud, crazy household.

Happily married for almost twenty years, my wife and I are parents to four beautiful, talented, challenging, funny, and crazy daughters.  Our daughters are active, social, and like the majority of American teens…shoppers.

We have a 17 year old who appreciates the finer things in life…understands it’s her money that will purchase these treasures and is not afraid to earn. 

A 15 year old who believes a dollar was created to be spent…is a born negotiator and not afraid to ask for a deal. 

An (almost) 13 year old who loves the smell of Nordstrom, but is cost conscience and innately worried we’re spending too much money.

And a 10 year old who has a keen ability to acquire goods while not owning a phone.

As the bread-winner who makes my living in the shopping center world, I’m always trying to better understand where this fluid retail world is headed. I’ve realized my household provides a daily glimpse into today’s retail shopper as well as a possible view into the future of how the next generation may shop. 

I CLIMB OVER BOXES TO GET A HUG

My favorite part of the day has always been coming home…Nothing like walking in the door and being greeted by hugs and a “How was your day Dad?”

Oh how I miss those days. While I’m still met with varying degrees of affection, most days I’m greeted a lovely stack of boxes nestled by the front door.  Online purchases are alive and well at the Ippolito home, and while Amazon is the most common culprit, they are not alone…

>25% of our meals are delivered by PLATED or BLUE APRON (cue the disapproving teenagers), 

>90% of cleaning products are delivered by MELALEUCA (cue the disapproving wife), 

And after careful reflection…100% of online purchases are convenient based.

WE HAVE CHOICES

Amazon deliveries and meal prep convenience are old news…The insight into possible retail trends are found not in “what” we purchase but “how”.

I’ll never fully be able to answer “why” my child makes a purchase…decision-making is a work in progress. But understanding “how” they purchase may provide a glimpse into where retail is headed.

Homecoming is fast approaching for my oldest daughter and of distinct interest is “The Dress”…There may be no more important purchase for a 17 year old senior then the homecoming dress…It is stressful, a priority, and one she will approach with care.  

Daughter #1: “Dad, I need to go look at dresses.”

Dad: “Great kiddo, when are you going to the mall?” 

Daughter #1: “I need to do research first…”

She visited five websites scrolling through countless pages of dresses educating herself first on style and price a distant second. How did she ultimately buy?

“If I have time I’ll probably order online because there are more choices…if not, I will just go the store…then I know it’ll fit…if I can’t find anything…I’ll just borrow one.”

Online…Store…Borrow. One purchase…three viable options.

I’m not sure if the purchasing process has become shorter, longer, better or worse, but fortunately my daughters “consumer knowledge” is high. She has shifted the power of a “priority purchase” from the retailer to the consumer.

WE MAKE OUR OWN MARKET, DAD

While online shopping delivers convenience, retailers use of social media platforms to push their brand has increased significantly.

Depop is a social shopping platform and the fashion marketplace for GenZ. Over 80% of Depop users are under 25 years old and have made over $570 million in over 19 million transactions since the launch in 2011. | photo credit: forbes.com

“Screen Time” is a daily battle with our girls…Yes we limit the amount of time, where, and what they view…we fully know 100% of their screen time is on some form of social media…

Instagram, Snapchat (not allowed), Facebook, TicTok and many more are the platforms influencing our youth…no doubt about it. Whether it be through influencers or direct marketing, they have placed a big target on the next generation.

This past week my fifteen year old was modeling her new pair of pants…She was very excited…asking my wife what she thought.

Daughter #2: “Mom, what do you think?”

Mom: “Those look good honey…they fit great”

Daughter #2: “Right?!?…they feel good.”

Dad: “New pants?  When did we go shopping? Those look expensive.”

Daughter #2: “You didn’t buy them…I did.”

Dad: “Where?”

Daughter #2: “From my friend Ceci…”

Dad: “Huh”

Daughter #2: “She posted on Insta…I paid $5…they’re $50 in the store…we do it all the time.”

When asked how often they transact with their friends she quickly responded with “three to four times a month…at least”.

Leave it to our youth to leverage the platforms influencing them to their own advantage by creating their own “Marketplace”…A place they can buy, sell, and trade clothes, makeup, or whatever at prices they determine and can afford.

This is called ingenuity…

This is called hustle…

This is called thrifty…

This is called influence.

Rob Ippolito | LinkedIn

Rob Ippolito is a Senior Managing Director at Newmark Knight Frank in San Diego, California. He has over 21 years of retail real estate experience and provides landlords with guidance on identifying and implementing the correct long-term plans for their assets. Rob graduated from the University of Arizona and played baseball with the Seattle Mariners organization for three seasons. Rob can be found coaching, inspiring and encouraging those around him whether at home with his family, on the baseball field or at the office.