Retail Redux

ICSC RECon 2019
In a world of undiscernible acronyms, even to the insiders, perhaps this means International Council of Shopping Centers, Real Estate Connections, and the current event year.

RECon features an innovation exchange that is providing hands-on access to next-generation retail concepts. Attendees focus on retail’s shift, tech tools, creativity, and provocative topics like whether or not healthcare is the new retail.

If you are one of 40,000 or so individuals in Las Vegas!, you might have attended last night’s opening reception at Encore XS Nightclub or one of many other parties happening around the strip. Here are a few retail thoughts from some of the experts in attendance.

Kevin Zak, Dorsky + Yue International, says ‘Retail’s shift is leading to interesting conversations that we weren’t having in years past. We have expertise in a wide variety of project types and a great deal of experience successfully mixing those uses in complex projects. When we listen, we have the opportunity to diagnose our developer/owner client’s pain points and challenges become our opportunities. These conversations inform the strategies and designs that will become the next generation built environments.’

Steve Wathen, Equity Commercial Real Estate Solutions brought 20 associates from 10 offices to the event. ‘We coined the phrase ‘healthcare is the new retail.’ As both a national healthcare and a retail developer, we will be showcasing those skills as both standalones and integrated uses. We will also be focusing on the rapidly growing entertainment space.

Jon Croy, co-Founder and CEO of Point Inside, says I am eager to find new ways to be competitive even in a time of change. There are tons of opportunity to optimize within retail real estate. As a tech company we hope that more are looking for data to help them make decisions, whether that’s owner/managers looking to optimize their mix, or retailers seeking to get the most for their money. As we plan our meetings here, we’re finding a dramatic change in attendees’ goals for technology. Before, our clients were looking for tools they could pass through to shoppers, B2B2C. Now they’re looking for data that they can use to make better decisions about their business, whether that is site selection for a retailer, an owner/manager finding the right space for the right retailer to add to a property portfolio, or for marketing, as owners can target shoppers based on past visits to a property.’
Read more . . .

PS I developed, owned, and managed specialty shopping centers and mixed use developments for much of my career. What surprises me in this article written by a woman is that it showcases a particular profile (not unlike my own) that is not representative of the emerging face of the marketplace. The world population’s under 30 years of age comprised 49% of the total population. And 89.8% of those lives are in emerging markets.

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