NEW YORK CITY—Providing a futuristic view of what lies ahead—and possibly striking fear into the heart of retail real estate professionals—Gene Spiegelman, Cushman & Wakefield's newly appointed head of retail real estate for North America, recently shared some insights on where the industry is going.
“The trends we talk about today may not be the trends we talk about tomorrow,” he noted. “They weren't the trends yesterday.”
Millenials are a key audience for retailers to seek, Spiegelman said. “That generation is going to represent 30% of annual retail spend by 2020. It's going to drive the retail trends of the future. There will also be a greater influence from the Hispanic and Asian-American populations,” the fastest growing ethnic groups in the country.
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