J. Wickham Zimmerman, CEO of Outside the Lines Inc.
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.
One of the retail industry's most prominent trends is an increased capital investment into thoughtfully designed open spaces that deliver the retailtainment experiences today's consumers crave, many of which include water features. Those thoughts are according to J. Wickham Zimmerman, CEO of Outside the Lines Inc.
Zimmerman recently chatted with GlobeSt.com surrounding out ICSC RECon coverage about all things retail. When asked if those investments are paying off, he says yes. “They are paying off in the form of higher sales for tenants, which translates into developers being able to command premium rents.”
According to Zimmerman, research shows that 72% of Millennials value experiences over material goods. “As this powerful generation seeks out experience-focused offerings, retail owners are seeing dwell times tick up—a trend that has a direct positive impact on sales.”
For retailers, infusing a center with entertainment offerings gives owners “attraction-front” spaces to offer to tenants at premium rents, he adds. “In our experience, food and beverage tenants, in particular, are willing to pay more for fountain-front patio space where guests will sit, eat, and enjoy the show.”
Keep checking back for more in the coming week for wall-to-wall coverage surrounding the Las Vegas ICSC RECon show and overall trends in the retail market. Take a look below at stories you might have missed.
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Welcome to ICSC's RECon 2019
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Why Retail Industry Must Be Proactive in 2020 Election
How to Fill Vacant Anchor Retail Space
Emerging Retail Trends and How Your Real Estate Investments Can Benefit
A Closer Look at What Retail's Future Might Have in Store
Experts Talk RECon; New Emerging Concepts and Power Centers
High Level of Retail Activity Expected
The Retail Issue: Real Estate Forum Presents Influencers In Retail
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
