Tanger CEO Yalof on Retail Traffic, Holiday Sales Outlook and AI
Speakers
Stephen Yalof
— CEO, Prologis
Summary
Tanger CEO Stephen Yalof discusses resilient consumer spending, strong back-to-school traffic, and a positive holiday sales outlook driven by the outlet channel's value proposition. He also highlights Tanger's use of AI for personalized marketing and customer service to optimize engagement.
- Tenant sales up 6%, traffic and spending remain strong despite macro headwinds.
- Back-to-school season expected to be the biggest ever per NRF.
- World Cup drove domestic and international traffic to Tanger centers.
- Outlet format benefits from consumers stretching holiday budgets for value.
- Tanger uses AI for personalized SMS/email marketing and a chatbot handling 50% of customer interactions.
- CEO sees AI adoption as early innings with room to replace legacy service tools.
Ideas
Tanger outlets drive strong holiday sales.
Consumer spending remains resilient with tenant sales up 6%. Back-to-school season is strong and the outlet channel is positioned to attract value-seeking shoppers during the holidays, as shoppers stretch their spend. Traffic has been boosted by population shifts and remerchandising, and AI-driven personalized marketing is driving higher engagement and conversion.
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