Tanger’s Vision: Embracing Open-Air Lifestyle Centers
Stephen Yalof, the dynamic president and CEO of Tanger Outlets (NYSE: SKT), recently sat down for an engaging video interview at Nareit’s REITweek: 2025 Investor Conference in the bustling heart of New York City. In this insightful conversation, Yalof shed light on Tanger’s innovative strategies and its dual commitment to both tenants and shoppers.
Driving Foot Traffic: A Focus on Engagement
In today’s retail landscape, attracting foot traffic is paramount. Yalof explained that while retailers are eager to expand their presence on Tanger’s platform, they heavily depend on the company’s robust marketing strategies to draw in customers. This relationship is mutually beneficial: as Tanger drives foot traffic, retailers enjoy increased exposure and sales—a win-win for everyone involved.
Proactive Solutions: Navigating Challenges
With the backdrop of rising prices and concerns about product availability later in the year, Tanger is not sitting idle. The company is actively collaborating with retailers to revive back-to-school shopping earlier than ever—targeting late June to early July. This proactive approach underscores Tanger’s commitment to staying ahead of market trends and ensuring customers have access to the products they want when they want them.
Expanding Horizons: The Rise of Open-Air Lifestyle Centers
Yalof is particularly excited about Tanger’s recent leap into the world of open-air lifestyle centers. In just the past 18 months, the company has added three new properties, echoing a strategic shift that resonates well with consumers’ preferences for shopping environments that blend leisure and retail. These centers perfectly align with Tanger’s operational strengths, promising a vibrant atmosphere where shopping meets lifestyle.
The Road Ahead: Strategic Growth Opportunities
Looking to the future, Yalof is enthusiastic about opportunities that lie in acquiring existing shopping centers. This strategy aims to capitalize on markets where Tanger can leverage its expertise in marketing, operations, and leasing to enhance value. With new developments facing rising costs, this approach offers a more feasible pathway to growth—one that is sustainable and impactful.
Conclusion: A Bright Future for Tanger Outlets
In conclusion, Tanger Outlets is not just keeping pace with the evolving retail landscape; it is setting the tone for what consumers desire in a shopping experience. By focusing on innovative solutions, embracing open-air lifestyle centers, and pursuing strategic acquisitions, Tanger is poised for a vibrant future. As Yalof articulated, the blend of consumers’ lifestyle needs with retail offerings will pave the way for continued success in this ever-evolving industry.
For more insights into retail strategies and market trends, check out Nareit and Retail Dive.
