Retail Trends We Learned at RECon Vegas that Won’t be a Gamble
There was lots to learn at the recent ICSC RECon show in Las Vegas, but the five general trends we came away with for retail were nicely summarized in a recent Chain Store Age article courtesy of the real estate firm Phillips Edison & Company. “The retail industry has shown true resilience in the face of disruption as brands have gone back to the drawing board to reimagine the entire physical retail model, and some amazing creative concepts have taken shape as a result,” said Mike Conway, VP of national accounts and retailer partnerships for Phillips Edison. The company’s top five trends are: Food Halls, Pop-Up Shops, Fast-Casual Dining, Showrooms and Experiential Retail. Do you agree? Tell us via Twitter or on our “Contact” page.
Live in Wasila, but Dread the Trip to Anchorage? Help is Coming!
It’d take you about an hour to drive from Wasila, Alaska, to Anchorage. As the largest city in Alaska, it has everything, and if you’re the mayor of Wasila, you’re looking for ways to encourage the population to spend their money locally. “We are trying to be a one-stop shop. I need to fill Wasilla with some form of what you can get in Anchorage, so you don’t have to go to Anchorage,” said Bert Cottle, Mayor of Wasilla. A new $60 million project, the Shoppes at Sun Mountain, was approved by the local Planning commission in May. The project will include senior apartments and townhomes, plus “restaurants and a mix of small-box and junior-box retail…a 25,000-square foot athletic club, and then about 40,000-square feet of professional office,” said developer Cameron Johnson, AMG & Associates. Construction is targeted to begin in September.
And other Trends will Shape the Industry in Different Ways
Though there are lots of things retailers can offer that demonstrate they are compelling but different from their online competition, there are other strategies retailers can employ that are business-oriented, rather than consumer-oriented. A new report from Coresight Research suggests malls are moving away from featuring apparel-focused stores to creating “retail and services ecosystems.” To do that, other things need to happen, including department store consolidation, with the recognition that apparel sales are moving online. To succeed, the report states, retail will need to target millennials with non-traditional options, including “non-apparel tenants, grocers, entertainment and food service offerings.”