Plus: Forecasting gets smarter with AI | SMB owners are burned out
Foot traffic is everything for shop owners. But it’s notoriously fickle and hard to guarantee in all but the most populated retail corridors. This week, we check out a U.K. mall that’s getting creative with leisure and hospitality tenants (and Insta-friendly features) to lure shoppers. We also hear from one small business owner about the less glamorous aspects of running a business.
Later this week, we’ll catch up with a flower shop owner and a women’s clothing boutique owner to find out how they optimize being retail neighbors, as well as the pros and cons of mixing business and friendship.
But first, we are all in our feels about the history of the pocket book (not the pocketbook) as these mass-market tomes go the way of the dinosaur.
Lunar landing: See how they celebrate The Year of the Horse in China
News flash: Six in 10 of the top-rated female-owned small businesses are photography companies
Unique boutiques: Check out these uber-specific vintage stores
All access: Some of The Lyst Index’s top products of 2025 are affordable.
Pampered pets: One in three pet owners spend more on pet health than their own.
The Insta-friendly mall reviving foot traffic with leisure, hospitality and more
The Merry Hill Centre, in England’s Black Country, has evolved from a traditional place to shop into a third space where community can eat, play and purchase. Not only is the center boosting local employment, its innovation has caught the attention of industry experts for reversing the trend of declining malls. It’s also popular with the internet, having been named one of the U.K.’s top 10 most Instagrammable shopping centers. Much is on offer, including a canalside food venue, a gym, an escape room and a family entertainment center. Since 2021, foot traffic increased by 32%, or about 10% above the national average.
Why this matters: Retailers of all sizes can take lessons from innovative shopping malls. Diversifying your offerings or cozying up to complementary businesses is always a recipe for success. (BBC)
The Reddit thread that reveals why running SMBs is “exhausting”
One Reddit user, owner of a coffee shop, drew attention for his brutally honest post about the perils of running a small business, writing, “I used to like coffee. Now it just haunts my dreams.” He detailed equipment failure as just one of the hard things to deal with, along with staffing, inventory, marketing, compliance and paperwork. Other commenters agreed, with one saying, “We don’t own a small business, it owns us.”
Many said years two and three were the hardest stretch and years three to five were when equipment started to break. Some can’t imagine going back to regular salaried jobs, but others like the coffee shop owner are considering it.
Why this matters: The truths revealed in this small biz thread are also a good reality check and reassurance that you’re not alone. (Reddit)
Popular teen accessories retailer Francesca’s to close doors
U.S. retail sales flatlined in December; what it means
Costco is low-key cracking down on customer returns
Small business owner optimism dips slightly, still above average
Ways to support SMBs in Minnesota right now
Why fragmented forecasting is costing you margin and how to fix it
EJ Tavella, EVP and GM of Integrated Business Applications at Anaplan, advocates using AI to make forecasting more effective. Using women’s apparel as an example, he notes that “a retailer may infer that women’s tops will perform well. However, a more nuanced analysis would show that women in big cities are willing to pay full price for the blouse currently going viral online, but activewear shirts will fly off the rack at 10% off in small towns." AI can quickly cull such data so humans can make better decisions.
“Effective, modern forecasting relies on AI and machine learning to combine numerous forward-looking signals, including price elasticity, foot-traffic predictions, localized demand patterns, and competitor activity. AI augments planners by helping them move away from tedious data entry and towards high-value strategic decision-making." —EJ Tavella, Anaplan
Why this matters: Retail forecasting is one of the most critical but hardest things to get right. AI can help retailers merge top-level strategy with granular SKU and store metrics. (Retail Touchpoints)
Why these AI models are better than ChatGPT
ZDNET senior contributing editor David Gewirtz broke down what AI models and apps are and how they work in layman’s terms, then explained which ones are best for the different tasks he does at work. He starts with the task at hand, then chooses the application, and the actual AI usually comes as part of that application.
He found several AI models work better than ChatGPT for these tasks: creating explainers, identifying keywords, coding, notion databases, speech recognition, deep research and analysis, SEO and general use. The models he doesn’t use: Perplexity, Microsoft’s Copilot and Elon Musk’s Grok.
Why this matters: ChatGPT may be the most popular AI tool, but take advice from an editor who already did the work to find better options. (ZDNET)
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The SKUpe is curated and written by Marcy Medina and edited by Bianca Prieto.
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