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ST. LOUIS NEWS TODAY - Sunday, December 23, 2007
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Department Stores Hope to Attract New Shoppers With Aggressive Cost-Cutting Deals Before Christmas
ST. LOUIS, (PRNewswire), December 23, 2007 - The holiday season is a key time to attract new customers, according to a new survey conducted by Deloitte, but many retailers may be falling short in this critical "audition."
While many retailers make a large percentage of their annual sales during the holiday season, they also lose many sales opportunities due to poor execution and planning. According to Deloitte's survey, so far this holiday season 89 percent of shoppers have left a store, or a department in a store, without purchasing anything, most frequently because the store did not have an item they wanted to purchase, they couldn't find the item they were looking for, or the specific item or size they were looking for was out of stock.
"Typically, out of stocks are much higher during this peak season -- not always because of sell outs, but often because items are stuck between the distribution center and the shelf," said Stacy Janiak, Deloitte's U.S. Retail Leader. "Stores are crowded and difficult to navigate, and seasonal employees aren't always as helpful as they could be. While customers understand that lines and crowds are inevitable, customer satisfaction scores still fall during this period. Retailers that focus on customer satisfaction and converting shoppers into buyers will have the most success this holiday season as well as into the coming year."
Indeed, it's clear from the survey that many consumers try out new stores during the holiday season and that this is a key time for retailers to attract new customers. So far this holiday season, 38 percent of consumers have shopped in a retail store that they had not been in previously, and 45 percent of consumers have shopped at an online retailer that they had not visited previously.
A strong majority of these shoppers made purchases: 89 percent made a purchase in one or more of the "new" retail stores they visited and 70 percent made a purchase at one or more of the "new" online retailers they visited. Most importantly, these trials can turn first time customers into repeat customers -- approximately nine out of 10 of these consumers (93 percent for stores, 89 percent for websites) expect to add one or more of these retailers to their future shopping repertoires.
The Internet has been instrumental in helping consumers find these new retailers, both brick-and-mortar and online. An Internet search was the No. 1 factor that led consumers to a new online retailer, and approximately one in seven survey respondents said an online search led them to the store-based retailer.
Retailers still have time to put this information to good use since, in recent years, consumers have been doing their shopping later and later in the season. As of mid-December, our survey showed that 22 percent of consumers had yet to purchase any gifts, and another 13 percent had purchased only one or two gifts, so retailers clearly still have an opportunity to affect their results not only for the holiday season, but for the coming year as well," said Janiak, "The holiday season is a great time to attract and win over new customers, but this 'audition' comes at a very hectic time. Retailers must be prepared in order to succeed."
Oak Hill Capital Partners to Purchase KTVI
ST. LOUIS, (PRNewswire), December 23, 2007 - Oak Hill Capital Partners, a leading private equity firm, announced today that it has agreed to purchase eight News Corporation owned-and-operated FOX network affiliated television stations for approximately $1.1 billion in cash.
The stations include:
-- KDVR in Denver, CO
-- KSTU in Salt Lake City, UT
-- KTVI in St. Louis, MO
-- WBRC in Birmingham, AL
-- WDAF in Kansas City, MO
-- WGHP in Greensboro, NC
-- WITI in Milwaukee, WI
-- WJW in Cleveland, OH
This portfolio will be jointly managed by Local TV, the television platform Oak Hill created earlier this year to acquire nine stations from the New York Times Company.
J. Taylor Crandall, a Managing Partner of Oak Hill Capital Partners, said, "We are very pleased to add this outstanding portfolio of FOX affiliated television stations to the Oak Hill portfolio. These stations, like our existing Local TV television stations, have a strong commitment to providing quality news and serving the local community."
Bobby Lawrence, CEO of Local TV, said, "These are heritage stations in great markets. Their management teams and operations are a perfect fit with Local TV. The stations have an outstanding track record and we look forward to helping them continue their success."
The transaction is subject to regulatory and other customary approvals and is expected to close in the third quarter of 2008.
Sunrise to Unveil New Residence for Seniors at Clayton on the Park
ST. LOUIS, (PRNewswire), December 23, 2007 - Sunrise Senior Living has announced that it will join with Conrad Properties to transform the 23- story Clayton on the Park hotel and apartments into an exclusive new residence for seniors seeking independent living in a service enriched environment. Clayton on the Park is located at 8025 Bonhomme Ave., in downtown Clayton, Missouri.
"Clayton on the Park will redefine senior living in the St. Louis area," said Stacy Tew-Lovasz, executive director of the property for Sunrise Senior Living. "The phenomenal location combined with our experience developing premier properties and delivering quality service will make Clayton on the Park a residence of choice for local seniors."
Sunrise and Conrad will completely renovate the property and introduce new services to encourage active seniors to live life to the fullest. New features to address resident interests and lifestyles will include a fully equipped fitness and wellness center, spa, library, theatre and rooftop gathering spot. Residents will have a choice of formal or casual dining and before dinner, they can meet friends for cocktails at the bar and bistro. Additionally, residents will benefit from the use of the community concierge, on-site housekeeping and linen service, transportation services, security, health alert systems and coordinated in-home wellness services as resident needs dictate.
The 275,000 square foot building will feature 208 designer apartments ranging in size from approximately 600 sq foot studios up to 1,800 square foot three-bedroom accommodations. Each suite will be custom designed with aging in mind and feature a full kitchen, bright spacious living area and comfortable interiors.
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