LAS VEGAS—In preparation for the upcoming ICSC RECon event next week here in Las Vegas, we caught up with Greg Lyon, principal and retail design director at Nadel Architects, who has worked with some of the most prestigious brands in the industry—most notably Universal Studios, where he designed retail and entertainment components for Universal projects in international markets. He tells GlobeSt.com that the message this year at ICSC should be one of increased confidence.
Not only that, he says, but expect increased transactions, and a far greater presence on the leasing floor of new ground up retail destinations under development than seen since the onset of the recession.
He explains that “With the dramatic decrease in existing surplus inventory, the continuing demand for space with retailers is harkening a new wave of ground up centers. This is hopefully a trend that will continue and exponentially expand in the years to come.”
When asked how the retail conversation has shifted since last year's ICSC event, he says that “the conversation has shifted from the repositioning and re-tenanting of existing assets, to one of ground up development.” In addition, he says, the discussion in prior years regarding e-commerce was centered around fear; how will e-commerce negatively impact our brick and mortar industry.
Now, he says, “we understand e-commerce / brick & mortar as a continuum, where the most successful brands have developed a seamless, integrated shopper experience between the two worlds of online and in-store commerce. Just as traditional brands have embraced the internet, internet brands have moved into the brick and mortar sphere. It's all about market share and increasing a brands footprint across all mediums.”
In addition, he says, the reality of e-commerce has dictated that retail destinations offer something experiences that cannot be had on the internet. Thus, the environment as an anchor, new dining and entertainment offerings are an all important ingredient of successful destinations moving forward.”
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