In terms of electronics and retail real estate, it's clear you gotta have friends. Just ask General Growth Properties, which is announcing and expanding partnerships on a couple of fronts, tech-wise.
Electronic coupons are going year-round and portfoliowide at GGP, which has announced a partnership with RetailMeNot, the world's largest digital coupon marketplace, to provide e-coupons across its 120 properties. They include some of the best-known projects in the United States, such as Ala Moana Center in Honolulu, Water Tower Place in Chicago, Tysons Galleria in metro Washington, DC, and Staten Island Mall in New York City, several of which are decidedly upscale.
For GGP, the deal should help increase mall traffic and store sales as RetailMeNot users get quick notification of sales and promotions once they're within a certain radius of the centers. (It's also a lot more discreet and image-enhancing than newspaper circulars.) This can make brick-and-mortar more competitive with online sales, according to a RetailMeNot survey conducted by Forrester Research, which says a composite retailer implementing the coupon company's In-Store program saw a 631 percent return on investment over three years.
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