LAS VEGAS—As retail continues to evolve, industry experts Chris Hake, Senior Vice President, Director of the Southwest Region, and Ryan Menard, Vice President of Development, at Thompson Thrift, share insights into the trends shaping the remainder of 2024 surrounding this week's ICSC Las Vegas Conference.
Experiential retail remains a dominant trend, they tell GlobeSt.com. Hake notes a continued desire for projects that offer immersive experiences and mixed-use elements. "We're seeing a demand for spaces that go beyond mere transactions; consumers crave memorable experiences," Hake says. With the hope for construction cost reductions and a pullback on interest rates, 2024 holds promise for the realization of more ambitious experiential projects.
Local Flavor and Dynamic Spaces
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Menard emphasizes the significance of local and regional restaurant concepts in mixed-use developments. "These concepts not only enhance the overall atmosphere but also serve as quasi-anchors," Menard explains. Thompson Thrift's focus on dynamic mixed-use projects aligns with the growing demand for unique dining experiences and community-centric spaces. As consumers seek authenticity and diversity, the expansion of local eateries adds vibrancy to retail destinations.
E-commerce Integration Enhances Brick-and-Mortar
Despite the rise of e-commerce, brick-and-mortar retail remains resilient, fueled by strategic integration with online platforms, they noted. "Retailers must strike a balance between physical storefronts and effective online presence," Hake says. Emphasizing the symbiotic relationship between e-commerce and brick-and-mortar, Menard highlights how a robust online platform strengthens traditional retail concepts. Rather than being adversaries, e-commerce and physical stores complement each other, driving expansion and customer engagement.
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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.
