Reimagining Retail: ICSC New York Expects Vibrant Attendance Amidst Evolving Trends
The retail landscape is no stranger to challenges, and this year’s ICSC New York convention, running Wednesday and Thursday at the Javits Center, plumbs those very questions facing developers,
retailers and the industry at large.
Despite concerns about tattered consumer confidence and potential economic headwinds, many predict a lively convention, bustling with discussions on how to best utilize physical space in the ever-changing retail environment.
“The conversation will mainly focus on the scarcity of available space,” archly
said Stephanie Cegielski, vice president of research and public relations at ICSC. “With occupancy levels exceptionally high and very little new development projects, the competition for
space is fierce.
The conversion of traditional mall space to create residential units is gaining traction, offering opportunities to revitalize aging malls and address the nationwide housing shortage. Excitingly, the vulnerability of the pharmacy industry, with large chains closing hundreds of outfits, is sparks innovation. Many of these spaces become prime targets for redevelopment.
It is not just major retailers seeking larger premises
