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Retailer Expansion Stays Brisk

ICSC DISPATCH: CHICAGO-There aren't a lack of retailers rolling out new concepts, ICSC speaker says.

By Ian Ritter | Updated on September 28, 2006

CHICAGO-Whether they are trying to attract an underserved demographic, enter new geographic areas or are even entering the US for the first time, there are plenty of retailers looking to expand throughout the country. Neil Stern, a partner at locally based consulting firm McMillan Doolittle, detailed some of those stores during a speech here at the International Council of Shopping Centers’ Fall Conference that ended Wednesday.

“Innovation is the lifeblood of retailing, and it’s the reason why malls have second lives,” he said. New concepts are launched by companies to deal with the changing needs and desires of the consumer, based on everything from the ethnic makeup of the population to shifts in income groups. “The consumer is changing all of the time,” Stern said.

One of the ways established retailers deal with the changing customer base is by launching what Stern called “flanker brands,” or offshoots of their current chains that might have slightly different characteristics. Examples he gives are Soma, Chico’s FAS’ lingerie concept for women older than 35 years old; Made Well, a J. Crew chain geared only toward women; and Martin + Osa, American Eagle Outfitters’ vehicle to target an older consumer.

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