Adaptability, Brand Recognition Key to Future of Retail

At ICSC’s New York Deal Making event, industry experts emphasized the importance of retailers and retail real estate owners being flexible to adapt their properties and strategies to meet changing consumer preferences and shopping habits.
While many of this year’s headlines warned of retail’s demise, the overall sentiment about the sector’s future was much more optimistic at the 2017 International Council of Shopping Center’s (ICSC) annual New York Deal Making event last week. But industry experts and panelists across the board did recognize retail is going through major change. Many said retailers and retail real estate owners’ futures will depend on adapting to changing consumer preferences and shopping habits, and building in flexibility to convert spaces as needs change. Being able to tell a story and achieve brand recognition was another hot topic of the event, held at the Javits Center in Midtown Manhattan, as traditional retailers face competition from e-commerce…

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