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Simon Property Group Reportedly Exploring Amazon Distribution Center Partnership

  • Partnership between Simon Property Group and Amazon would allow vacant “anchor” stores to be converted to Amazon distribution centers
  • Arrangement would guarantee steady rental income for malls while assisting with “last mile” delivery for the e-commerce giant
  • Simon reports stable second quarter income despite COVID-19 shutdowns
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Keeping Your Customers by Refusing Their Cash

  • Survey finds that a large share of small businesses have stopped accepting cash and transitioned to contactless payments during the COVID-19 pandemic
  • Younger customers are more likely to accept cashless transactions and favor companies that require no direct interaction for payment
  • Two-thirds of businesses try a new approach during the pandemic, primarily involving a pivot to digital
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Addressing Employee Challenges When Transitioning to Remote Work

  • Entrepreneur contributor says companies need to change how they address certain aspects of their business
  • Assessment of new hires should include screening to see if they can successfully work from home
  • Companies should also discuss time management with employees, and not be afraid of having a little fun
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Report Warns of Drop in Consumer Spending if Supplemental Unemployment Ceases

  • JPMorgan Chase Institute study determines that $600 a week supplemental unemployment has helped keep consumer spending levels healthy during COVID-19 pandemic
  • Warning that aggregate spending could drop 4.3 percent if at least some of the benefits are replaced
  • Congress still working on unemployment deal following expiration of enhanced benefits last week
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“You Are Welcome” Campaign Encourages Continuation of Connecticut-R.I. Commerce

  • Campaign encourages Connecticut and Rhode Island residents to continue visiting each others states despite new COVID-19 restriction regarding Rhode Island
  • Recent travel advisory adds Rhode Island to list of states whose residents and visitors must quarantine for 14 days upon arrival in Connecticut
  • Restriction does not apply to visits of less than 24 hours
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Unemployment Statistics Show Uneven Recovery Across U.S.

  • Some states see rapid recovery in jobless rates, while high unemployment rates persist in Northeast and other areas
  • Friday’s labor report will shed some light on whether recent spike in COVID-19 cases has worsened employment levels
  • Few CEOs expect V-shaped recovery
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Connecticut Power Outages May Send Some Workers Back to the Office

  • Widespread power outages following Tropical Storm Isaias impede employees’ ability to work from home
  • Employers look to cope with loss of services, including possibility of sending some workers back to the office while maintaining COVID-19 safety protocols
  • Situation highlights one limitation of remote work
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Poll: Customers Willing to Spend More at Local Businesses, But Likely Visit Less Frequently

  • A survey by Red Egg Marketing finds that about 84 percent of respondents are willing to spend more money to support a local business
  • The majority of respondents say they shop locally only once a month, with about one-third shopping at local businesses each week
  • Customers likely to research a product before purchasing, relying primarily on the the company’s website
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A Call For Open Innovation

  • Forbes Technology Council contributor says partnership models established during COVID-19 pandemic should continue in future
  • Benefits include better market research, more business opportunities, and lower R&D costs
  • Tips on how to engage in open innovation
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Citizens Bank Announces Grant Program for Minority-Owned Small Businesses

  • $1.5 million in grants to be awarded across the 11 states Citizens Bank serves
  • Program includes partnership opportunity with SCORE
  • Deadline of Aug. 7, with grants distributed in September
Read more
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