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From Shopping Centers to 'Entertainment, Dining Centers'

Retail's evolution is expected to continue, say sources when talking about what the future holds for the asset class in celebration of GlobeSt.com's 15th anniversary.

By Natalie Dolce | Updated on August 12, 2015

Looking to the future, expect to see the continued shift from retail shopping centers to entertainment and dining centers continue. That is according to Melina Ferraez, director of marketing at Victoria Gardens, a Forest City property. “Online shopping is certainly here to stay, and many believe that retail stores will continue to have smaller physical footprints as a result,” she says. “That said, brick and mortar spaces will remain important for retailers in terms of brand awareness, as well as to accommodate shoppers who still want the traditional shopping experience of browsing and purchasing a product in-store.”

Ferraez points out that “the Millennial generation will continue to drive trends in retail, as will their younger counterparts, who are likely to have their own unique demands.” The key for retail centers today and retailers to come, she adds, is to do everything possible to avoid becoming stagnant or complacent with a center design or tenant make up.  “Retail centers must constantly evolve to reflect changing tastes and accommodate new generations of shoppers.”

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