A Closer Look at What Retail’s Future Might Have in Store

GlobeSt.com is providing wall-to-wall coverage of ICSC’s RECon show in Las Vegas May 19-22. Subscribe to the Retail Ticket for pre-event articles, live video interviews on site and post-conference analysis.

LAS VEGAS— There is constant change and uncertainty in retail now more than ever, and having a plan of action to stay ahead is necessary for brand survival. So says Jason Baker & Kenneth Katz, principals with Houston-based Baker Katz, who recently chatted with GlobeSt.com in preparation for the upcoming ICSC RECon show in Las Vegas.

According to Baker, companies such as Barnes & Noble, Target, Walgreens, etc., are taking steps to right size stores to stay ahead of where the market is heading. “Another big trend is digitally native concepts looking for brick and mortar locations, which we are interested in pursuing further at the show to better understand the shift occurring,” he says.

He also points out that in terms of forecasts for the future, “if it can be digitized, it will be.” Technology, he says, “will continue to take a stronger foothold with retail, and retailers of all sizes are leveraging it to increase efficiency and convenience.”

And according to Katz, the popularity of utilizing geofencing to assist retailers with site selection and for shopping center awareness is going to continue to grow. Personal information and traffic patterns are readily available, and retailers and owners will increasingly capitalize on that information in order to help them make better decisions.

Keep checking back for more in the coming month for wall-to-wall coverage surrounding the Vegas show and trends in the retail market.