GlobeSt.com provided wall-to-wall coverage of ICSC's RECon show in Las Vegas, which was from May 19-22. Subscribe to the Retail Ticket for post-event articles, live video interviews from on site and more analysis on the retail market.
LAS VEGAS—Overall, this year's ICSC RECon event had great attendance and a lot of buzz. That is according to Christopher Beavor, CEO of CAI Investments LLC.
Beavor tells GlobeSt.com that from his perspective, as the leader of a vertically integrated national development company, the industry is experiencing numerous challenges. “Labor workforce costs and construction land prices have basically squeezed the profits from development businesses.”
On a positive note, Beavor says, he is seeing “strong demand from national tenants expanding because the challenges for experienced development companies, in comparison, are far and few between.” In certain environments, he explains, he is also seeing the popularity of service, medical, industrial distribution and the repositioning of the big box malls growing.
“Retailers have used digital marketing platforms to target millennials and younger generations who seek stores that deliver an experience,” he says. “As a result, we believe this trend of digital and experiential marketing will drive the retail space for years to come.”
Even in a downturn, according to Beavor, there will be plenty of pent-up demand for development projects. “Actually, a market slowdown will give our industry time to catch up with the needs of our clients, predominantly national firms.”
Check back with GlobeSt.com in the next few weeks for more from our wall-to-wall retail coverage surrounding the end of the Las Vegas ICSC RECon show and overall trends in the market. Also, take a look below at stories you might have missed.
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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.
