Philadelphia — PREIT has launched a “shop local” section on its website to shine a spotlight on the small businesses in its portfolio. The Philadelphia-based mall owner reports that 48 percent of Americans work for a small business and 76 percent of those businesses have been affected by the COVID-19 outbreak. Furthermore, the company says small businesses make up 28 percent of its portfolio. The shop local page has categories that include home goods, food, health and wellness, athletic and outdoor, and apparel and accessories.
“Our local businesses are among the enterprises hardest hit by this pandemic. Without robust digital marketing budgets, they are at a disadvantage to their national counterparts,” says Joseph Coradino, chairman and CEO of PREIT. “The retail ecosystem is critical to economic recovery and we wanted to be sure we took steps to support those most in need, including putting our marketing power behind our tenants.”