LAS VEGAS—Welcome to ICSC Las Vegas! GlobeSt.com is in attendance along with many others, who exclusively tell us that optimism is in the air. Optimism in the industry remains high. US consumers are still in spend mode for consumables due to lack of; affordable homes, automobiles, international travel all of which are big ticket items, Naveen Jaggi, JLL president of retail advisory services, tells GlobeSt.com. This will continue to feed retailers with optimism in the near term, he says.
"Current transaction activity is ahead of the same 2021 but the combination of high inflation compounded with Recession talk against the backdrop of Eastern Europe war could impact behavior of consumers and retailers," Jaggi adds.
Regarding ICSC specifically, for Joshua Poag, president and CEO of Poag Shopping Centers, there is a lot of pent-up demand for meetings since it has been three years since a May ICSC meeting. "Some meetings are about connecting with longtime friends, and others are about new deals ranging from leasing and acquisitions to financing," he tells GlobeSt.com.
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