Social Media Makes Wave in the Retail Sector

Greg Maloney, President and CEO, Jones Lang LaSalle Retail

Greg Maloney of Jones Lang LaSalle discusses how social media is thriving in the retail sector with the adoption of retailers and landlords helping to drive sales and deliver on customer expectations. Maloney indicates that more than half of the traditional malls Jones Lang LaSalle Retail manages are engaged in various aspects of social media including Facebook, Twitter and mobile apps, and that nearly all, if not all, of its portfolio will be adopting these channels by year end 2012. Maloney goes on to say that the industry is still cautiously optimistic about the ’11 holiday season; however, due to inflation and the rise in cost of goods, the industry needs to have a net five percent increase in sales over 2010 to break even with last years’ results