Showing posts with label Taubman Centers Inc.. Show all posts
Showing posts with label Taubman Centers Inc.. Show all posts

Friday, May 15, 2009

The International Shopping Traveler: New Research Highlights Plans to Visit and Shop the USA in the next 12 months

Economic Conditions Not Dampening Attractiveness of United States as Destination for International Travelers

BLOOMFIELD HILLS, M., May 15 /PRNewswire/ -- More than 50 percent of international shopping travelers surveyed who have visited the United States in the last 12 months are likely to come again over the next year.

That's good news for the U.S. economy according to a study commissioned by Taubman Centers and Shop America Alliance in partnership with the U.S. Department of Commerce, Office of Travel & Tourism Industries.

New research on The International Shopping Traveler from the top five international inbound markets to the U.S. -- Canada, Mexico, UK, Germany and Japan, representing 75% of all inbound U.S. Travelers -- was conducted by Mandala Research via an online survey in January 2009.

Survey respondents in each country, 1760 in total, had visited the U.S. in the past 12 months and had shopped.Shopping, dining and cultural travel are among the top tourism activities in the U.S.

These activities are especially important to international travelers and continue to be so even in these challenging economic times.

"Travel and Tourism is an important economic contributor to the retail sector, as we see in our tourism shopping centers. The results from this study are positive for the U.S. travel and shopping industries and for the country overall," says Robert Taubman, (top right photo) Chairman, President and CEO of Taubman Centers, who also serves on the United States Travel and Tourism Advisory Board.

"The International Shopping Traveler study will help retailers, destinations and travel companies better understand and attract the shopping traveler," says Helen Marano, (top left photo) Director, Office of Travel and Tourism Industries, U.S. Department of Commerce.
"This can go a long way in boosting tourism. Shopping certainly spurs visitation to and spending in destinations all across the United States, which, in turn, has a positive impact on the employment and economic health of those areas."

Highlights of The International Shopping Traveler study results include:


-- Nearly 20% of these travelers say they have already booked their next trip to the U.S. and an additional 50% are very likely to visit and shop in the next 12 months.


-- SHOPPING DRIVES TRAVEL. For a large number of travelers, shopping influences destination choice. 30% said it was a factor in their choice of destinations, while 23% said it was a key reason for the trip.


-- ECONOMIC IMPACT. These travelers allocated a sizeable portion of total trip spend to shopping activities, spending on average $1063 per person on shopping out of a total average of $3692 per total trip, per person. While spending varies by market, the percent of shopping spend reported in the total trip spend was an average of 29%, and as high as 40% with Mexican Shopping Travelers.


-- APPAREL LEADS. International shoppers most frequently purchased apparel. -- OTHER POPULAR CATEGORIES. Footwear (47%), food/candy (47%) souvenirs (47%), fashion accessories (39%) and cosmetics/beauty products (39%) were key categories purchased by the international shopping traveler.


-- SHOPPED FOR SELF AND FAMILY. 84% made purchases for themselves followed by spouse/significant other (68%) and children (44%).


-- BRAND SAVVY. Brand preferences* vary by inbound market.


The top 25 brands shopped for overall are:


1. Nike 2. Levis 3. Gap 4. Polo Ralph Lauren and Tommy Hilfiger 5. Abercrombie & Fitch 6. Calvin Klein and Coach 7. Adidas, Gucci and Chanel 8. Sony, Armani, Banana Republic and Louis Vuitton 9. Apple, Prada and Victoria's Secret 10. Old Navy, Dolce & Gabbana, Diesel, American Eagle, DKNY, Hugo Boss and Hollister


*Duplicate names on the same line indicate that the same percentage of International Shopping Travelers surveyed, selected those brands.


-- MOTIVATORS: VALUE & SELECTION. Good value and a wide selection of brands are most often cited as important elements of the shopping experience.


-- CULTURAL & HERITAGE ATTRACTIONS AND UNIQUE DINING ARE IMPORTANT.


It is clear that International shopping travelers are also cultural travelers--visiting historic sites (48%), museums/art exhibits (39%), concerts/theatres (36%), national parks (48%) and 27% report also shopping at Museum Stores. 42% reported seeking out unique dining experiences while visiting the U.S.


-- ONLINE TRAVEL. The vast majority of international travelers currently use online sites to plan and book their travel to the U.S.


-- WHERE THEY SHOP. Destination preferences* vary by inbound market.


The top 23 cities visited by international shopping travelers overall are: 1. New York, NY 2. Los Angeles, CA 3. Las Vegas, NV 4. Orlando, FL 5. San Francisco, CA 6. Honolulu, HI 7. Miami-Fort Lauderdale, FL 8. Chicago, IL 9. San Diego, CA and Washington, DC 10. Houston, TX 11. Boston, MA and 12. Buffalo, NY 13. Atlanta, GA 14. Phoenix, AZ 15. Dallas-Fort Worth, TX and Seattle, WA 16. Tampa, FL 17. Philadelphia, PA 18. Detroit, MI 19. Fort Myers-Naples, FL 20. West Palm Beach, FL 21. Denver, CO 22. Portland, OR 23. Baltimore, MD


*Duplicate destinations on the same line indicate that the same percentage of International Shopping Travelers surveyed, selected those cities.


Facts & Figures from THE INTERNATIONAL SHOPPING TRAVELER study:


-- Top five inbound countries to the U.S.: Canada, Mexico, Japan, U.K. Germany -- 1760 respondents (approximately 350 per country; on-line study - January, 2009). -- Number of trips in the past 12 months: -- Mexico 4.4 -- Canada 3.1 -- U.K. 2.3 -- Germany 1.7 -- Japan 1.7 -


- Average trip expenditure is $3692; average spent on shopping is $1063 -- Mexican and Japanese travelers have higher mean shopping spend versus total ($1310 and $1200 respectively).


-- Nearly half of all international travelers in the five markets surveyed say that shopping was either a key reason for the trip or was a factor in their choice of destinations.


-- Good value and variety are most often cited as important elements of the shopping experience.


-- Apparel is the most frequently purchased item by international shoppers.


-- Footwear and food/candy (and souvenirs) are the second most frequently purchased categories; followed by beauty and accessories - both tied for third, followed by perfume, children's apparel and handbags.


-- Germans are most likely to stay the longest when traveling to the U.S. (15 - 21 days), followed by the British who stay up to 14 days.


-- Shopping accounts for a third of Canadian travelers' time when in the U.S., and is about nearly a third of their total trip expenditures.


-- 51% of Mexican travelers state that they used friends and family as a source of travel information.


-- Japanese and Germans said that shopping opportunities helped them choose between destinations.


For a copy of the Executive Summary, please visit ShopAmericaTours.com or contact Karen Mac Donald, kmacdonald@taubman.com.


Taubman Centers (NYSE:TCO) is a real estate investment trust engaged in the development and management of regional and super regional shopping centers. Taubman's 24 U.S. owned and/or managed properties, the most productive in the industry, serve major markets from coast to coast. Taubman Centers is headquartered in Bloomfield Hills, Michigan. For more information, visit http://www.taubmanworldclassshopping.com/.


Shop America Alliance LLC (SAA) represents 200 of the premier shopping tourism destinations, shopping centers, retailers and outlets in North America and 1600 museum stores. Founded in 1999, the organization serves as the travel and tourism industry's exclusive resource for Shopping Tourism information and partnership opportunities.


Rosemary McCormick, President of Shop America Alliance, serves on the Board of Directors/Executive Committee of US Travel Association and is the co-founder of the US Cultural & Heritage Tourism Marketing Council LLC.


For more information on Shop America Alliance, visit www.ShopAmericaTours.com.

CONTACT: Karen MacDonald, Taubman Director, Communications,+1-248-258-7469, kmacdonald@taubman.com

Tuesday, September 30, 2008

Taubman Asia Announces Samsung Tesco Homeplus as Second Anchor for Korea's Songdo IBD Shopping Center

BLOOMFIELD HILLS, MI, Sept. 30 /PRNewswire-FirstCall/ -- Taubman Asia, a subsidiary of U.S. mall REIT, Taubman Centers, Inc. (NYSE:TCO), today officially announced that hypermarket giant, Tesco Homeplus, has signed to be the second anchor at the shopping center (top right photo) at Songdo International Business District (Songdo IBD), a 1,500-acre city being constructed in Incheon, Korea.

Songdo IBD is being developed by New York headquartered Gale International and Korea's POSCO E&C in a 70/30 joint venture

"This is the second anchor deal to be completed for Songdo Shopping Center, following the Lotte Department Store announcement in April.

"We are very excited to have secured another leading retailer for the project, further adding to the momentum as we move closer to creating a world class retail and lifestyle destination that will be an international landmark for Korea," said Morgan Parker, (middle left photo) president of Taubman Asia, the manager and developer of Songdo Shopping Center.

"The two story hypermarket, which is to be built on block A1, will cover approximately 21,276sqm (230,000 sq. ft.) of gross leasable space and will add another crucial dimension to what will be a truly remarkable international shopping center," he added.

The two-level enclosed shopping center, designed by globally renowned architect Daniel Libeskind with interior design by Benoy, will be the first of its kind in Korea, created as an integrated space that includes Lotte Department Store. (middle right photo)
The shopping hub of Songdo IBD will also feature Tesco Homeplus hypermarket, a multiplex cinema, a food emporium, an ice rink, and approximately 150 specialty stores.


CONTACTS: Barbara Baker, Vice President, Investor Relations,+1-248-258-7367, bbaker@taubman.com,

Karen Mac Donald, Director,Communications, +1-248-258-7469, kmacdonald@taubman.com,
both of TaubmanCenters, Inc.;

Pamela So, Weber Shandwick, Hong Kong, +852-2533-9916, pso@webershandwick.com;

Phillip Anderson, News Communications, Korea,+82-2-6323-5050, phillip.anderson@newscom.co.kr;

Hyewon Chang, GaleInternational - Domestic-ROK, +82-2-6260-3353, hwchang@galeintlkorea.com,

MaryLou DiNardo, Gale International-U.S. and International, +1-212-909-0340,tkpr1@aol.comWeb site: http://www.taubman.com/http://www.songdo.com/

Monday, April 28, 2008

Taubman Asia Announces Lotte Department Store to Anchor Songdo IBD Shopping Center

(The 151-story Incheon Twin Towers (above), being built at Incheon City, Korea, by a Portman (Atlanta) consortium, is believed to be the world's second tallest office building, behind the 160-story Burj Dubai under construction in the Gulf state.)

HONG KONG, April 28 /PRNewswire-FirstCall/ -- Taubman Asia Management Limited, a subsidiary of U.S. mall REIT, Taubman Centers, Inc., today officially announced that Korean retail giant, Lotte Department Store, will anchor the shopping center at Songdo International Business District (photo at left below)(Songdo IBD), Incheon, Korea.

The twelve-level flagship store, (photo at left below) which includes two levels of parking, will be approximately 48,500 sqm (521,800 sq ft).

"This represents the first anchor deal to be completed for Songdo Shopping Center, and we are proud to have secured one of Korea's best department store operators, setting the tone for the finest shopping experience in the region," said Morgan Parker, (top right photo) president of Taubman Asia, the manager and developer of Songdo Shopping Center.

"The 105,000 square meter (1.1 million square foot) shopping center (photo at left) will combine the essential ingredients of convenience and superior store merchandising, making this a truly world-class destination," he added.
The double-level enclosed shopping center, designed by globally renowned architect Daniel Libeskind with interior design by Benoy, will be the first of its kind in Korea, created as an integrated space and will include a department store, a hypermarket, a multiplex cinema, a food court, an ice rink, and approximately 150 specialty stores.

About Taubman Asia

Taubman Asia is a subsidiary of Taubman Centers, Inc. - a global leader of the shopping center industry. Taubman Asia focuses on owning, managing, developing and acquiring high-quality and sustainable retail real estate projects in Asia that leverage Taubman's strong retail planning, design and operational capabilities.Taubman has led the US shopping center industry for over 50 years.

Today, Taubman Centers, Inc. (NYSE:TCO), a real estate investment trust, owns and/or manages the most consistent and productive regional mall portfolio in the US including 24 regional and super regional shopping centers in 11 US states. (Photo of Incheon International Airport departure area at right)

Taubman Asia is headquartered in Hong Kong. Additional information about Taubman Centers, Inc. can be obtained from the company's website at http://www.taubman.com/

About Lotte Department Store

Lotte Department Store is the retail subsidiary of the Lotte Group, founded in 1979 and headquartered in Sogong-dong Jung-gu, Seoul, Korea. Formerly known as Lotte Shopping Co., the Company operates its business mainly through two segments: department stores and hypermarkets.

Lotte department stores and Lotte hypermarkets offer fashion clothes, accessories, F&B, electric products and luxury goods. In addition, the Company operates supermarkets, cinemas and shopping malls, as well as global F&B businesses and directly imports international fashion brands.

The Company has 25 department stores, 56 hypermarkets, 82 supermarkets and 41 cinemas in Korea as of April 28, 2008. Since 1982 the business has been managed by Takashimaya of Japan.

About Songdo International Business District (photo at left above)

Sondgo International Business District, the "Gateway to Northeast Asia," is being developed by Gale International in a 70/30 joint venture with POSCO E&C. Songdo International Business District (IBD) will be the first "new" city in the world designed and planned as an international business district.

The US$30 billion, 100 million square foot master-planned metropolis will include fifty million square feet of office space, thirty million square feet of residential space, ten million square feet of retail, five million square feet of hotel space and ten million square feet of public space.

When fully completed in 2014, Songdo IBD will be home to 65,000 people and 300,000 will work there. Songdo IBD is located within the Incheon Free Economic Zone. Songdo IBD will offer every conceivable amenity including a world-class hospital, an international preparatory school, museums, a 100-acre Central Park, a 1.1 million square foot premium retail mall and the Jack Nicklaus Golf Club Korea.

This new metropolis will be connected to the Incheon International Airport, one of the world's busiest, by a 7.4 mile highway bridge, and linked by subway to Seoul. Day travel is easy to China and Japan's major business centers. More than one third of the world's population lives within a three and a half hour flying radius. Additional information can be found at http://www.songdo.com/ .
About Gale International

Gale International is a premier international real estate investment and development company with headquarters in New York and offices in Boston; Irvine, California; Seoul and Songdo, South Korea.

CONTACTS:

Barbara Baker, Vice President, Investor Relations,+1-248-258-7367, bbaker@taubman.com, or Karen MacDonald, Director,Communications, +1-248-258-7469, kmacdonald@taubman.com, both of The TaubmanCompany, or
Pamela So of Weber Shandwick, Hong Kong, +85 2 2533 9916,pso@webershandwick.com, or
Phillip Anderson of News Communications, Korea,+82 2 6323 5050, phillip.anderson@newscom.co.kr,

or HyungWook Lim, Manager,Public Relations of Lotte Department Store, Korea, +82 2726 4422, chopin900@hanmail.net, or

Mary Lou DiNardo of Gale International/U.S. andInternational, +1-212-909-0340, tkpr1@aol.com, or Hyewon Chang of GaleInternational - Domestic/ROK, +82 2 6260 3353, hwchang@galeintlkorea.com