Simon Property Group SPG recently launched a new loyalty program called Simon+. This program is designed to reward omnichannel shoppers when they make purchases at Simon Malls and Premium Outlets and online at ShopSimon.com, or through links to participating retailer websites.
With this platform, shoppers can get special deals, receive cash back and points on eligible in-store and online purchases. It also unlocks curated rewards, including incentives from participating retailers, valet parking, Santa photos and discounts on ShopSimon.com.
Simon+ is an innovation of SPG's omnichannel strategy. The new program is seamlessly integrated with ShopSimon.com and Simon Search, a tool that enables customers to search more than 3 million products available both in-stores and online at Simon.com, ShopSimon.com, and its mobile apps. This makes it easier for shoppers to find what they need, while being rewarded for shopping as they usually do, online and in-person.
With more than five hundred retailers nationwide already on board, including well-known brands like adidas, H&M, JD Sports, Shake Shack, True Religion, UNTUCKit and Warby Parker, Simon+ provides a strong support to brands to enhance their own loyalty efforts. There are no costs involved for participating brands and Simon+ complements retailers’ current programs by driving engagement, increasing cross-shopping between brands, driving traffic and sales conversion both in-store and online and supplying valuable data to optimize future marketing strategies.
SPG: In a Snapshot
With billions of annual shopper visits to its 200+ premium retail destinations, 150+ million annual website visits and more than 3,000 engaged retailers, Simon+ is uniquely positioned to lead multi-brand, omnichannel loyalty innovation. This loyalty program will eventually generate higher revenues for several brands and drive demand for Simon’s properties.
Simon Property’s adoption of an omnichannel strategy and successful tie-ups with premium retailers have paid off well in recent years. Particularly, the company’s online retail platform, woven with an omnichannel strategy, augurs well for its long-term growth.
In the past month, shares of this Zacks Rank #3 (Hold) company have gained 4.1% compared with the industry's growth of 0.6%.
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Stocks to Consider
Some better-ranked stocks from the broader REIT sector are Federal Realty Investment Trust FRT and Urban Edge Properties UE, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for FRT’s 2025 FFO per share has moved 3 cents northward over the past month to $7.22.
The consensus estimate for UE’s 2025 FFO per share has been revised 2 cents upward to $1.42 over the past two months.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
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Federal Realty Investment Trust (FRT) : Free Stock Analysis Report
Urban Edge Properties (UE) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
