Kloe Colacarro, EVP of leasing at Caruso.

LAS VEGAS—The best companies and retailers of today are focused on a deep understanding of their consumer; they are data driven and utilize and dissect the information gathered in order to provide exceptional experiences. Those thoughts are according to Kloe Colacarro, EVP of Leasing at Caruso, who recently chatted with GlobeSt.com in preparation for the ICSC RECon event here in Las Vegas. “One of the best examples is Amazon who has brilliantly transitioned into the brick and mortar space. At the Milken conference last week, our CEO Rick Caruso commented that Amazon has been the best thing to happen to brick-and-mortar because they are forcing retailers to be smarter and get to know their customers better.”

She continues that this is something that Caruso has been doing for the past 30 years—tapping into its guest's wants and needs and using that information to cater to the way in which they want to shop, dine, live, work, and spend time with their loved ones.

“It has been one of the most important keys to our success. Similarly, the retailers, both online and physical, that are thriving today are the ones that continue to evolve with and listen to their consumers.”

As for what retailers are looking for? Colacarro tells GlobeSt.com that Best-in-class retailers are also looking at traditional brick and mortar through a new lens. “Today, it's not enough to just have a great product. The retailers that are thriving are also providing unique experiences, environments, and interacting with their consumers in meaningful ways. And this isn't specific to size or product category.”

For example, she says that “Nike's 31,000 square foot West Coast flagship at The Grove touches on each one of these through their immersive store design, experiential trial zones for basketball and soccer, their product selection that features the newest and most innovative selection, or their weekly events in the neighborhood such as Run Club.”

On the other end of the spectrum, she says that the company's “renowned pop-up program at The Grove has hosted a litany of impressive brands from Fendi, Schutz, Ray-Ban, Rebecca Minkoff, Chiara Ferragni, Obsessee, and so many more in 200 square feet or less, each experimenting with expressing their own identity outside of a traditional brick and mortar experience. From large scale fashion shows, to social media and influencer integration, live concerts, and a host of other buzz-worthy activations, this program has given us a taste for what's next to come in the retail space in addition to showing us how innovative the successful brands of today really are.”

What is now apparent to everyone, according to Colacarro, is the trend shifting away from the traditional mall (both from a retailer and consumer perspective) and towards outdoor environments, the desire for a sense of discovery with regards to retail and restaurant mix, and a sense of community. “To me, our 200,000-square-foot property The Promenade at Westlake, located in Thousand Oaks, California is the manifestation of this shift. What was traditionally an outdoor grocery and theater anchored neighborhood town-center has now also become a leading fashion and dining destination with tenants such as Intermix, Kreation Juicery, Joie, Brandy Melville, Vince, Sephora, and a recently announced 18,000-square-foot Nike store.”

She adds that the firm strongly believes that “everything from the lush landscaping, to live entertainment, our tenant partnerships, and community programming has aided in creating our properties as places where people want to spend their time, which has in turn led to their incremental success vs. the current downward trends of the indoor mall.”

Hear more from experts in the next few days as we fully cover the RECon event, with thoughts not only from attendees and panelists, but coverage of sessions, parties and more.

Instant Insights /

Caruso's Key to its Success, What Retailers are Looking for

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