From artificial intelligence to commercial real estate trends, the International Council of Shopping Centers tackled a range of topics during its New York edition this week.
The conference, which wraps up its two-day run at the Jacob K. Javits Convention Center on Thursday, also served to introduce the group that will lead the organization next year. Jim Taylor, president and chief executive officer of Brixmor Property Group, who served as vice chairman this year, will step up to chairman, and Angele Robinson-Gaylord, senior vice president of store development Americas for Starbucks, will be vice chairman for 2024.
“Jim’s deep expertise in retail and commercial real estate and his experience serving as ICSC’s vice chairman will undoubtedly prove valuable as we continue to serve our members and navigate what’s ahead for the industry in 2024,” said Tom McGee, president and CEO of ICSC. “We are also pleased to welcome Angele, whose retail expertise will be crucial as we focus on delivering fundamental programs and services for this important segment of our membership.”
Taylor, who has more than 25 years of experience in retail and commercial real estate, said: “ICSC plays a central role in helping members connect, build relationships, drive new business, attract and develop talent and advocate on behalf of our shared interests. I’m looking forward to acting as chair in 2024 and pleased to work alongside Angele to serve our fellow ICSC members to ensure the organization’s and the industry’s continued growth and success.”
In addition to Taylor and Robinson-Gaylord, 11 other members will join the ICSC board of trustees in 2024: Christopher Conlon, CEO, WPG; Ross Cooper, president, chief investment officer, Kimco Realty; David Henry, cofounder, Peaceable Street Capital; Naveen Jaggi, president, retail advisory services, Americas, JLL; David Larcher, president and CEO, Vestar; Ryan O’Sullivan, vice president, real estate and development, PetSmart; Lisa Palmer, president and CEO, Regency Centers; Marc Panzer, senior vice president, real estate and store development, Williams-Sonoma; Lyneir Richardson, cofounder and CEO, Chicago Trend; Arturo Sneider, CEO, Primestor Development, and Anjee Solanki, national director, retail services and practice groups, U.S., Colliers.
The group also identified four Next Generation Trustees, or executives under the age of 40: Laura Barr, Americas retail leader, advisory and transaction services, CBRE; Bo Okoroji, managing partner, Steerpoint Capital; Natalie Pebbles, director of real estate, Western Region, Jersey Mike’s Franchise Systems, and Scott Schnuckel, vice president, property development, real estate, Kohl’s Corp.
This group joins the organization during a time of rapid change as traditional shopping centers have been working to reinvent themselves in order to remain relevant. Analysts had been predicting the death of malls even before the pandemic, but much like department stores — which also have for years heard about their impending demise — many shopping centers have managed to survive and even prosper as they zero in on providing entertainment and efficient, distinct shopping options and services to lure shoppers. Live music venues and diverse food choices, for example, still draw people to malls and keep them coming back.
This holiday season, the ICSC is projecting that retail sales will grow 3.8 percent and food and beverage sales will grow 7.6 percent, bringing the total expected spend for the season to $1.6 trillion. Of the total 235 million people who are planning to shop this year, some 87 percent are expected to hit brick-and-mortar stores, and 75 percent said they plan to make a purchase online.
So it’s no surprise that the ICSC convention in New York took on the issues of evolving trends and innovations in the shopping center space and highlighted tips from top retailers on how to increase foot traffic and revitalize centers.
Other topics that were discussed included how physical stores can increase brand awareness, digital engagement and revenue; strategies to combat organized retail crime and theft, and how best to navigate the process of converting a property to a new use.
On the final day of the convention on Thursday, leaders in the AI space were scheduled to provide an overview on how to leverage the technology to gain a competitive edge in business and real estate, while others will explore the world of ethnic food halls and the potential power of pop-ups for driving consumer connections that can last well beyond the short tenure of the space.
