ICSC on 2015 holiday season: Physical stores drove sales with 91 percent of consumers choosing brick and mortar retailers this season

  • Holiday shoppers spent a total of $754 this holiday season; 73 percent spent the same or more than last year.
  • Thirty-two percent of shoppers utilized click and collect, making the purchase online, but picking it up in a physical store.
  • 76 percent bought additional items in the same or an adjacent store.

NEW YORK, 2016-Jan-18 — /EPR Retail News/ — The International Council of Shopping Centers (ICSC) released its Holiday Consumer Purchasing Trends study today, providing insight into shopping behavior during the 2015 holiday season. Physical stores drove sales with 91 percent of consumers choosing brick and mortar retailers this season. The strength in brick and mortar is largely due to the technological advancements on the part of retailers and the savviness of consumers.

“Looking back at the holiday season, the major trend that emerged is the prevalence of the omni-channel consumer and the resulting convergence among brick and mortar and digital retail,” said Tom McGee, president and CEO of ICSC. “The story of bricks vs. clicks is an old one. The story is now one of a shopper getting the best of both worlds, using online research and capabilities to inform physical purchases. The American consumer has sent a clear message that the physical store remains at the epicenter of the shopping experience.”

Additional Findings from the ICSC Holiday Consumer Purchasing Trends Study:

Holiday Shoppers Spent More; Vast Majority Visited a Physical Store, Citing Touching Merchandise and Convenience as Key Benefits

  • Consumers continued to show resiliency this season, as 40 percent of shoppers say they spent more this season than in 2014, with 33 percent spending the same this season. Only 23 percent said they spent less than last year.
  • 198 million American adults made holiday purchases at a physical store this holiday season (Nov. 1 – Dec. 25).
  • Seeing, touching, and trying on merchandise was cited the number one reason to shop in store (32%), followed by the ability to browse (26%), and the ability to get the item right away (24%).
  • Shoppers also embrace the ease of returning and exchanging products in store, with 20 percent of shoppers electing to shop in-store because of this advantage.

A Savvier Consumer Uses Mobile and Click and Collect; Boosting In-Store Sales

  • Sixty percent of holiday shoppers used their mobile device while shopping in-store to do such things as compare prices, check availability and view reviews/ratings.
  • Fifty-six percent of holiday shoppers researched products before they even entered the store, noting they arrived better informed and ready to purchase.
  • Nearly one-third (32%) of holiday shoppers used the click and collect method –with 69 percent of these shoppers purchasing additional items in the store of collection and 36 percent making an another purchase in an adjacent store.

Gift Cards, Apparel, and Electronics Leading Gift Categories this Holiday Season 

  • On average, 62 percent of holiday shoppers spent on gift cards, with an average spend of $145. Fifty percent of all consumers received a gift card this season. Of those that received a gift card, February or later (43%) is the most likely time for them to redeem it, followed by January (39%) and the last week of December (18%).
  • Forty-eight percent of holiday shoppers made a purchase in the apparel/footwear and electronics/devices categories this holiday season.

About the ICSC Holiday Consumer Purchasing Trends Study

Methodology

The 2015 ICSC Holiday Consumer Purchasing Trends Study was conducted online by Opinion Research Corporation on behalf of ICSC from December 28-30, 2015. The survey represents a demographically representative U.S. sample of 1,014 adults 18 years of age and older.

###

About ICSC
Founded in 1957, ICSC is the global trade association of the shopping center industry. Its more than 70,000 members in over 100 countries include shopping center owners, developers, managers, investors, retailers, brokers, academics, and public officials. The shopping center industry is essential to economic development and opportunity. They are a significant job creator, driver of GDP, and critical revenue source for the communities they serve through the generation of sales taxes and the payment of property taxes. These taxes fund important municipal services like firefighters, police officers, school services, and infrastructure like roadways and parks. Shopping centers aren’t only fiscal engines however; they are integral to the social fabric of their communities by providing a central place to congregate with friends and family, discuss community matters, and participate in and encourage philanthropic endeavors. For more information about ICSC visit www.icsc.org and for the latest news from ICSC and the industry go to www.thecenterofshopping.com.

Jesse Tron
Vice President, Communications
jtron@icsc.org
646-728-3814

SOURCE: International Council of Shopping Centers

###

ICSC on 2015 holiday season: Physical stores drove sales with 91 percent of consumers choosing brick and mortar retailers this season

ICSC on 2015 holiday season: Physical stores drove sales with 91 percent of consumers choosing brick and mortar retailers this season

New York Yankees Manager Joe Girardi to Keynote New York National Deal Making Conference

New York Yankees Manager Joe Girardi to Keynote #NYnDM, which is marking its return Dec. 7 and 8 at the Jacob K. Javits Center.

NEW YORK, 2015-12-3 — /EPR Retail News/ — The International Council of Shopping Centers (ICSC) is gearing up for the annual New York National Deal Making Conference, which will be held Dec. 7 and 8 at the Jacob K. Javits Convention Center in New York. Thriving on the positive momentum of the retail real estate industry, this year’s conference is shaping up to be the biggest and best to date.

The 2015 program features new programming and distinguished speakers including New York Yankees Manager Joe Girardi as the keynote. Girardi is a baseball legend famous for guiding the New York Yankees to five playoffs and one World Series Championship. Girardi will deliver the keynote address at 12:30 p.m. on Monday, Dec. 7.

“With shopping center sales equaling 15% of U.S. GDP and the industry directly employing 1 out of every 11 Americans, it is an engine of our nation’s economy. Industry occupancy rates currently approximate 94%, illustrating its healthy condition,” said ICSC President and CEO Tom McGee. “With expected attendance of nearly 10,000 people, this conference, which serves as a medium to secure deals and foster relationships, speaks to continued optimism for that strength. This is good news given the integral role the industry plays in the social, economic and civic vibrancy of our communities across America.”

The two-day New York National Deal Making Conference will open with a preview networking event on Sunday, Dec. 6 at the ICSC Foundation “Bigger Better Party” in Times Square. The event will give attendees the opportunity to convene before the deals get going.

Don’t miss the opportunity to connect with owners, developers, brokers and premier retailers at the brand new Retailer Row on Tuesday. Participating retailers include Target, Starbucks, Century 21, Juice Press and Walgreens among others. Attendees are also invited to take advantage of the Pavilions: Finance, Global
and the newly added P3, which promotes public-private partnerships and features neighborhoods and communities with development opportunities.

Unable to attend? Need a break from all the deals? Tune into ICSC LIVE! Filmed directly on the show floor, the C-Suite interview series will be available in real time across ICSC’s social channels and conference website. Produced in a late-night show format, attendees can experience the show as the studio audience while ICSC Spokesman Jesse Tron sits down with the industry’s most powerful players to discuss the current and future state of the industry, trends and more.

ICSC has a penchant for picking buzzworthy speakers – the 2014 keynote was Donald Trump. Also of note, last year’s program marked its first appearance at the Jacob K. Javits Convention Center, which resulted in an impressive 25% growth in attendance with more than 400 exhibiting companies and 9,600 attendees. ICSC forecasts even better results for the 2015 conference.

Join the conversation on Twitter – follow @ICSC and use #NYnDM.

Register here today! Registration fees are $635 for members and $835 for non-members. Press registration is complimentary. Contact Noelle Malone in ICSC’s media relations department to obtain press credentials.

About ICSC
Founded in 1957, ICSC is the global trade association of the shopping center industry. Its more than 70,000 members in over 100 countries include shopping center owners, developers, managers, investors, retailers, brokers, academics, and public officials. The shopping center industry is essential to economic development and opportunity. They are a significant job creator, driver of GDP, and critical revenue source for the communities they serve through the generation of sales taxes and the payment of property taxes. These taxes fund important municipal services like firefighters, police officers, school services, and infrastructure like roadways and parks. Shopping centers aren’t only fiscal engines however; they are integral to the social fabric of their communities by providing a central place to congregate with friends and family, discuss community matters, and participate in and encourage philanthropic endeavors. For more information about ICSC visit www.icsc.org and for the latest news from ICSC and the industry go to www.thecenterofshopping.com.

SOURCE: International Council of Shopping Centers

 

###

New York Yankees Manager Joe Girardi to Keynote New York National Deal Making Conference

New York Yankees Manager Joe Girardi to Keynote New York National Deal Making Conference

International Council of Shopping Centers (ICSC) 2015 Holiday Guide released on The Center of Shopping’s website

All the latest holiday data and findings one click away.

NEW YORK, 2015-11-16 — /EPR Retail News/ — How much money are shoppers spending this holiday season? On Black Friday? Super Saturday? Do shopping centers prefer to hire Santas with real beards or will costume accessories suffice? How are omnichannel and technology trends influencing holiday shoppers?

Find out the scoop this holiday season via the International Council of Shopping Centers (ICSC) “2015 Holiday Guide,” accessible via the website The Center of Shopping. The content heavy collection will serve as a tremendous resource throughout the 2015 season.

The site will act as a gift that keeps on giving, constantly updated with ICSC’s latest forecasts, spending data and trends. The guide is currently populated with data, visuals and commentary by ICSC’s Director of Research in addition to related content like ICSC’s holiday forecast.

While the data will cover every aspect of the season relating to the retail real estate industry, the pieces are connected by a common denominator. This holiday season, purchase- and purpose- driven individuals will be out in full force at America’s Marketplaces: shopping centers.

Longer Season, Deeper pockets

Holiday shoppers in particular will be willing to spend more, but will also be more knowledgeable about products. Enticed by promotions and faced with an elongated season, shoppers will start their purchases earlier, but complete them later. Shoppers will also be cannier about purchases as a result of online research, mobile devices and multiple channels of distributions.

‘Tis the giving season

The gain in spending ($702 in 2015 compared to $677 in 2014) is fueled in part by an increase in the number of people for whom shoppers will buy gifts. Also of note, approximately 40% of all adults in the United States intend to contribute to, or participate in, philanthropic events occurring at malls and shopping centers this holiday season.

Next up, Black Friday!

ICSC predicts 41% of holiday shoppers will hit the pavement on Black Friday – the most of any holiday shopping days. See how ICSC’s forecast plays out and be on the lookout for ICSC’s Black Friday survey next week, followed by results after the holiday.

Stay tuned to follow the season’s most important research and findings, in real time, on The Center of Shopping.

About ICSC
Founded in 1957, ICSC is the global trade association of the shopping center industry. Its more than 70,000 members in over 100 countries include shopping center owners, developers, managers, investors, retailers, brokers, academics, and public officials. The shopping center industry is essential to economic development and opportunity. They are a significant job creator, driver of GDP, and critical revenue source for the communities they serve through the generation of sales taxes and the payment of property taxes. These taxes fund important municipal services like firefighters, police officers, school services, and infrastructure like roadways and parks. Shopping centers aren’t only fiscal engines however; they are integral to the social fabric of their communities by providing a central place to congregate with friends and family, discuss community matters, and participate in and encourage philanthropic endeavors. For more information about ICSC visit www.icsc.org and for the latest news from ICSC and the industry go to www.thecenterofshopping.com.

SOURCE:  International Council of Shopping Centers

 

###

International Council of Shopping Centers (ICSC) 2015 Holiday Guide released on The Center of Shopping's website

International Council of Shopping Centers (ICSC) 2015 Holiday Guide released on The Center of Shopping’s website

ICSC: 7 in 10 Kentuckians support federal legislation that requires online-only sellers to collect sales tax at the time of purchase

New Poll Finds Strong Support for Federal Legislation in the Bluegrass State

WASHINGTON, 2015-11-16 — /EPR Retail News/ — Today the International Council of Shopping Centers (ICSC) released the results of a Kentucky-specific poll that shows that roughly seven in ten Kentucky voters support federal legislation that requires online-only sellers to collect sales tax at the time of purchase.

“Kentuckians of all ages, from different walks of life and across the political spectrum overwhelmingly agree that leveling the playing field to support the shopping center industry in its essential role as stewards of economic development and prosperity for their local communities is of paramount importance,” said Tom McGee, president and CEO of ICSC. “The findings show that a significant majority of Kentuckians support federal legislation and with precious few legislative days left in 2015, it is time for Congress to make efairness a reality this year.”

The poll also found that the current system, which requires brick-and-mortar retailers to collect sales tax and allows online-only sellers to avoid this responsibility, is seen as inherently unfair; providing a significant competitive advantage to out-of-state merchants over local businesses.

The poll identified a number of key findings, including:

  • 71% of registered voters in Kentucky support federal legislation that would require online-only sellers to collect sales tax at the time of purchase;
  • 85% of registered voters in Kentucky think it would be easier to collect sales tax from online-only sellers at the time of purchase;
  • 91% of registered voters in Kentucky say local retailers are important to their community’s economic health.

“It is abundantly clear that when Kentuckians understand their current tax liability for online purchases they overwhelmingly support federal legislation that streamlines and simplifies the sales tax collection process,” said Betsy Laird, senior vice president of Global Public Policy for ICSC.

ICSC has promoted efairness for more than a decade, advocating that a “sale is a sale” regardless of whether the purchase takes place on Main Street, at shopping centers, or over the Internet. For more information about efairness and how the current sales tax system is unable to support the 21st century retail marketplace, please visit efairness.org.

About ICSC
Founded in 1957, ICSC is the global trade association of the shopping center industry. Its more than 70,000 members in over 100 countries include shopping center owners, developers, managers, investors, retailers, brokers, academics, and public officials. The shopping center industry is essential to economic development and opportunity. They are a significant job creator, driver of GDP, and critical revenue source for the communities they serve through the generation of sales taxes and the payment of property taxes. These taxes fund important municipal services like firefighters, police officers, school services, and infrastructure like roadways and parks. Shopping centers aren’t only fiscal engines however; they are integral to the social fabric of their communities by providing a central place to congregate with friends and family, discuss community matters, and participate in and encourage philanthropic endeavors. For more information about ICSC visit www.icsc.org and for the latest news from ICSC and the industry go to www.thecenterofshopping.com.

About the Survey
Opinion Research Corporation (ORC) conducted a survey among two national probability samples, which, when combined, consists of 243 adults, 120 men and 123 women 18 years of age and older, living in the continental United States. Interviewing for this CARAVAN® Survey was completed on September 10-15, 2015. 114 interviews were from the landline sample and 129 interviews from the cell phone sample

SOURCE:  International Council of Shopping Centers

###

ICSC: 7 in 10 Kentuckians support federal legislation that requires online-only sellers to collect sales tax at the time of purchase

ICSC: 7 in 10 Kentuckians support federal legislation that requires online-only sellers to collect sales tax at the time of purchase

ICSC: 71 percent of Americans plan to stock up on holiday gifts over Thanksgiving weekend

  • More than 7 in 10 Americans (71 percent) plan to stock up on holiday gifts and merchandise over Thanksgiving weekend (Thursday-Sunday), according to the International Council of Shopping Centers (ICSC) Black Friday Shopping Study.
  • One in three Americans (32 percent) plan to shop in-store on “Cyber Monday.”
  • Hot toys include LEGO dimensions starter pack, Paw Patroller, Hot Wheels Ultimate Garage, Star Wars Bladebuilders Jedi Master Lightsaber.

NEW YORK, 2015-11-16 — /EPR Retail News/ — The 2015 International Council of Shopping Centers (ICSC) Black Friday Shopping Study shows more than 7 in 10 Americans (71 percent) are planning to make holiday purchases over the Thanksgiving holiday period. Furthermore, 59 percent plan to make a purchase at a physical store over the weekend (Thursday-Sunday).

Surprisingly, Cyber Monday is shaping up to be the second-most popular day for in-store shopping – even though it’s a day normally associated with online activity. Overall, Americans plan to shop in-store on:

  • Thanksgiving Day (15 percent)
  • Black Friday (41 percent)
  • The Saturday and/or Sunday after Thanksgiving (30 percent)
  • Cyber Monday (32 percent)

“Shoppers’ in-store plans for Cyber Monday shows the lines between the online and in-store retail experiences are continuing to blur,” says Jesse Tron, ICSC Spokesman. “In-store shopping remains the preeminent channel for transactions, but online retail is continuing to influence those transactions by offering added value to shoppers in the form of research, in-store pickup, and more.”

Consumers planning to make a purchase over Thanksgiving weekend (Thursday-Sunday) will spend an average of $259 at retailers that have a physical presence. This represents 73 percent of Thanksgiving Weekend spending – including 14 percent for online purchases that will be picked up in store. This is significant as 4 out of 5 shoppers say they are likely to buy additional items when they go to retrieve their item.

Of all Thanksgiving weekend spending:

  • 60 percent will be spent on holiday gifts for others
  • 29 percent on non-gift items for themselves and their household
  • and 11 percent on non-gift items for people not in their house

Thanksgiving Day shopping: consumers have their say

As stores make headlines over their decisions to open their doors (or not) on Thanksgiving, shoppers are planning to take advantage of the extended hours. Of those who do plan to go to a shopping center on Thanksgiving Day, they will do so to:

  • Shop (68 percent)
  • Dine (41 percent)
  • See a movie (29 percent)
  • Have a child’s picture taken with Santa (15 percent)
  • Attend a holiday-themed-event like a Christmas tree or menorah lighting ceremony (15 percent)

Those who plan to shop on the Thanksgiving holiday say they plan to do so because:

  • Want to get a head start on finding the bargains offered (50 percent)
  • A fun opportunity to go shopping with family/friends (43 percent)
  • An opportunity to shop at more stores during the extended weekend (33 percent)
  • Expect the crowds to be smaller than on black Friday (28 percent)

Tech-enabled shopping: Shoppers getting savvy

Technology will continue to support the growing trend of omni-channel shopping for Thanksgiving weekend consumers, as more than 8 in 10 (82 percent) will do research online before making purchases in-store.

Additionally, 80 percent of shoppers plan to use a mobile device when shopping, most popularly to:

  • Compare prices (56 percent)
  • View ratings or reviews (37 percent)
  • Check availability/inventory (36 percent)
  • Get digital discounts or coupons to use in-store (36 percent)
  • Take pictures of items they’re thinking about purchasing (27 percent)

Hot gifts and shopping categories for the Holidays

Holiday shoppers will make the following distribution of their purchases in-store for the following categories:

  • Food and drink intended for holiday entertaining or gifts (84%)
  • Gift cards (69 percent)
  • Apparel and footwear (63 percent)
  • Home goods/housewares (60 percent)
  • Toys and games, not including apps or video games (55 percent)

This holiday, 66 percent of Americans will join in the scramble for the hottest toys and games of the season. The most popular ones cited include:

  • 1. LEGO Dimensions Starter Pack
  • T-2. Paw Patrol – Paw Patroller
  • T-2. Hot Wheels Ultimate Garage
  • T-3. Star Wars Bladebuilders Jedi Master Lightsaber
  • T-3. Mattel Barbie Dream House
  • T-3. Marvel Hulk Smash Vehicle
  • T-3. Doc McStuffins Take Care of Me Lambie

Methodology

The 2015 ICSC Black Friday Shopping Study was conducted online by Opinion Research Corporation on behalf of ICSC from November 2-4, 2015. The survey represents a demographically representative U.S. sample of 1,016 adults 18 years of age and older.

About ICSC
Founded in 1957, ICSC is the global trade association of the shopping center industry. Its more than 70,000 members in over 100 countries include shopping center owners, developers, managers, investors, retailers, brokers, academics, and public officials. The shopping center industry is essential to economic development and opportunity. They are a significant job creator, driver of GDP, and critical revenue source for the communities they serve through the collection of sales taxes and the payment of property taxes. These taxes fund important municipal services like firefighters, police officers, school services, and infrastructure like roadways and parks. Shopping centers aren’t only fiscal engines however; they are integral to the social fabric of their communities by providing a central place to congregate with friends and family, discuss community matters, and participate in and encourage philanthropic endeavors. For more information about ICSC visit www.icsc.org and for the latest news from ICSC and the industry go to www.thecenterofshopping.com.

SOURCE: International Council of Shopping Centers

###

ICSC: 71 percent of Americans plan to stock up on holiday gifts over Thanksgiving weekend

ICSC: 71 percent of Americans plan to stock up on holiday gifts over Thanksgiving weekend

The International Council of Shopping Centers (ICSC) completes integration of SPREE Canada

Specialty retail conference to be held at major shopping center convention Oct. 5-7 in Toronto

NEW YORK, 2015-9-7 — /EPR Retail News/ — The International Council of Shopping Centers (ICSC) is excited to announce the complete integration of SPREE Canada, the only Canadian show for the cart, kiosk and specialty retail industry, into the Canadian Convention to be held Oct. 5-7 in Toronto.

SPREE Canada will commence with an opening night reception on Oct. 5 followed by two full days of educational sessions, engaging roundtables and myriad networking opportunities. The educational sessions will cover a series of hot button topics ranging from “The Power of Pop-up Stores” to digital marketing and “Award Winning Visual Merchandising.” Specialty leasing managers are invited to learn best practices and current and future trends at the “Global Specialty Leasing Trends” program.

SPREE Canada’s crossover with the Canadian Convention’s more than 3,000 expected attendees and exhibitors will provide an enhanced opportunity for specialty retail professionals to meet wholesalers, manufacturers, shopping center developers and service providers to buy products, lease space, learn about the industry and network.

“We are excited to again offer SPREE Canada, especially as part of the Canadian Convention,” said Patricia Norins, ICSC vice president of specialty programs. “We expect the conference to experience record success this year and to continue to grow with the rising strength of Canada’s specialty retail industry.”

Since its inception approximately thirty years ago, specialty retail has grown into an $8 billion dollar market and a staple of the shopping center industry. The industry has expanded to include retail merchandising units (RMUs), kiosks, temporary in-line stores, seasonal concepts and other non-traditional retail concepts like coin-operated rides and automated retail vending.

SPREE Canada will be held Oct. 5-7 at the Toronto Convention Center in Toronto. The conference is free for specialty retailers to attend and value-priced for specialty leasing professionals. To register, please visit SPREE’s website. Media registration is complimentary and can be completed through ICSC’s Communications Department.

Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 70,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials.  For more information, visit www.icsc.org.

Press Contact

Noelle Malone
+1 646-728-3540
nmalone@icsc.org

 

###

Talking Business People Silhouettes Isolated On White With Canad

Talking Business People Silhouettes Isolated On White With Canad

ICSC Florida Conference & Deal Making conference: Florida’s retail engine is roaring

New York, NY, 2015-9-1 — /EPR Retail News/ — This week’s ICSC Florida Conference & Deal Making conference in Orlando shines the spotlight on a sizzling state that’s lately ascended to the nation’s third heaviest populated and its second most-active retail-development hub behind only Texas.

###

ICSC Florida Conference & Deal Making conference: Florida’s retail engine is roaring

ICSC Florida Conference & Deal Making conference: Florida’s retail engine is roaring

MetaProp NYC, ICSC sign new partnership and announced the initial 2015/2016 startups for inaugural class

Rentalutions, Radiator Labs, Social Sign.in, Notion and Optii Solutions named first 2015 cohort participants at event in ICSC’s Manhattan headquarters

NEW YORK, 2015-8-27— /EPR Retail News/ — MetaProp NYC, the New York real estate technology accelerator, signed an agreement with the International Council of Shopping Centers (ICSC) and announced its initial 2015/2016 cohort participants at an invitation only event with more than 60 real estate technology entrepreneurs, investors, innovation champions and guests at ICSC’s headquarters in Midtown Manhattan on Aug. 25.

MetaProp NYC Co-Founder Aaron Block remarked, “ICSC is a powerhouse in the real estate industry and their organization brings an important perspective to our all star lineup of partners, mentors and start-ups.  Retail real estate offers one of the biggest opportunities in today’s property technology industry.”

The MetaProp NYC accelerator annually selects eight of the best technology-driven real estate start-ups to participate in its 16-week program that is based in New York City.  The accelerator will invest $4 million to $5 million over the next five years in approximately 40-50 startups.  Early stage startups receive at least $25,000 in cash, access to a vast mentor network and access to Class A office space for 16 weeks, in exchange for six percent of common stock. In addition, later stage startup participants receive up to $250,000 in funding.

ICSC’s newly inked agreement with MetaProp NYC brings an expansive network of industry contacts and resources to the table. The world’s largest association for the retail real estate industry has more than 70,000 members in over 100 countries, and will serve as a tremendous resource for the eight companies.

“We are excited to partner with MetaProp NYC and to support industry innovation through these young startups,” said Michael P. Kercheval, ICSC’s president and CEO. “Technology is having a major moment in the retail real estate industry and is influencing every sector, from how consumers shop to how retailers are reaching these consumers.”

ICSC joins MetaProp NYC’s additional corporate partners including REBNY, Zillow, Warburg Realty, DLA Piper, EisnerAmper, The News Funnel and BigApps NYC 2015.

The first selections in the accelerator’s inaugural program include:

  • Rentalutions – platform for landlords that allows them to complete a host of duties electronically, saving time and money. Features include automatic listing, tenant screening, digital leasing, online rent payments and maintenance monitoring.
  • Radiator Labs – offers a smart radiator cover that instantly converts old cast-iron radiators into smartphone-controlled climate systems that boast profitable ROI, comfort, control, and energy savings.
  • SocialSign.in –Wi-Fi marketing solution that enables businesses to leverage their guest Wi-Fi network to increase engagement, learn about customers and build relationships.
  • Notion – streamlined home monitoring systems with one small device that incorporates eight types of sensors that can detect motion, acceleration, moisture, light, proximity, and sound.
  • Optii Solutions – housekeeping software that improves productivity, efficiency and quality for hotels around the world.

MetaProp NYC Co-Founder Clelia Peters remarked, “We will continue to select up to five more companies from a pool of 150 office, retail, residential, storage, hospitality and leisure real estate technology applications received during our two-month admissions period.  That said, we have been extremely selective so far and these startups set a high bar for the rest of the class. Not only are they successfully solving some of real estate’s most pressing problems, they also have the support of other influential investors and accelerator programs like TechStars, Plug & Play and the NYU Polytechnic incubator.”

About MetaProp NYC
MetaProp NYC is a NYC-based real estate tech accelerator that brings together the brightest minds in real estate and technology to help quickly build the industry’s most promising young companies. Each year, the eight best technology-driven real estate industry startups are selected to participate in the 16-week intensive growth program based in New York City. The program culminates in a Demo Day to partners, investors, VCs and media.

About ICSC
Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 70,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. For more information, visit www.icsc.org or www.TheCenterofShopping.com.

###

MetaProp NYC, ICSC sign new partnership and announced the initial 2015/2016 startups for inaugural class

MetaProp NYC, ICSC sign new partnership and announced the initial 2015/2016 startups for inaugural class

Deloitte LLP’s vice chairman Thomas (Tom) McGee to become ICSC’s new president and CEO

NEW YORK, NY, 2015-8-27— /EPR Retail News/ — ICSC has chosen Thomas (Tom) McGee, vice chairman at Deloitte LLP, the world’s largest professional services organization, to be its new president and CEO.

McGee, whose appointment will begin Sept. 21, comes with considerable experience in a complex, global organization. Deloitte, a network with member firms in more than 150 countries, has some 200,000 people under its umbrella, providing auditing, risk-management and financial consulting, taxation and other services.

“His client service and global experience were very important qualities to the search committee,” said Stephen D. Lebovitz, president and CEO of CBL & Associates Properties Inc., and ICSC’s 2015–2016 chairman. “He has an understanding of how to manage an organization with diverse constituencies around the globe, including different sizes of organizations at various stages of development.”

McGee, 48, joined Deloitte in 1989 and held global and U.S. leadership roles prior to becoming vice chairman. These have included deputy CEO; national managing partner of Merger & Acquisition Services; global chief of staff; and membership of Deloitte’s Global and U.S. Executive and Operational Leadership committees.

When it comes to effective management, communication is key, McGee says. Goals need to be easy to understand, and communicated to everyone. “Clarity of strategy and clarity of purpose are critical,” he said. “I like people to feel they’re part of a team and that they know and appreciate their importance to the team.”

McGee’s principles about getting people involved extend beyond the workplace, as evidenced by his activities with numerous civic, charitable and academic organizations. He is the incoming chairman of Covenant House International, which provides shelter and counseling to homeless youth; a member of the New York Catholic Foundation Board and of the Finance Council of the Archdiocese of New York; and a member of the Board of Regents of Loyola Marymount University, his alma mater.

“I really do believe that everyone should be given an opportunity,” he said. “Not everyone has had the good fortune that I’ve had.” McGee’s parents and his older brother emigrated to the U.S. from Ireland in the 1950s, his father working as a bus driver, his mother employed in a dry cleaning business. Both valued education highly, laying the foundation for his career success, he added. “My parents were very much believers in the American dream.”

Part of ICSC’s success, he says, will be measured by how well it continues to communicate the critical role the industry plays in economic development and opportunity in every country around the globe.

McGee’s experience with the media will help ICSC deliver that message, Lebovitz said. He has appeared on CNBC, Bloomberg and Fox Business, and is frequently quoted in national media outlets, including The Wall Street Journal, USA Today and CFO magazine.

“Tom is extremely comfortable with presentations and interviews with the press,” Lebovitz said. “He will be a very effective advocate for the shopping center industry.”

McGee lives in Basking Ridge N.J., with his wife, Charlene, and two daughters. He grew up in Southern California, is an avid sports fan — he supports the Lakers — “and I’m a huge fan of golf.”

McGee is only the fourth person to head ICSC in its 58-year history. He succeeds current President and CEO Michael P. Kercheval, who this year announced his intention to retire.

“I know everyone at ICSC, staff and members are going to like working with Tom; he’s a really good guy,” Lebovitz said. “He’s smart, he’s a pleasure to deal with, and he will be a great leader for ICSC for many years to come.”

 

###

Deloitte LLP's vice chairman Thomas (Tom) McGee to become ICSC's new president and CEO

Deloitte LLP’s vice chairman Thomas (Tom) McGee to become ICSC’s new president and CEO

The International Council of Shopping Centers (ICSC) integrated SPREE Meetup into its annual Western Conference

Specialty retail program to be integrated into highly attended Western Conference in San Diego on Sept. 17 

NEW YORK, 2015-8-26— /EPR Retail News/ — The International Council of Shopping Centers (ICSC) has integrated SPREE Meetup, a dynamic program dedicated to the cart, kiosk and specialty retail industry, into its annual Western Conference, providing regional specialty retailers and shopping center professionals the opportunity to collaborate, expand their networks and make deals.

SPREE Meetup agenda highlights include speed networking, specialty leasing roundtable discussions, and a one-hour educational session led by social media guru and expert Crystal Vilkaitis, “Leveraging the Power of Social Media to Grow Your Specialty Retail Business,” which will provide counsel about the best social media tools to invest in and how to use these tools to gain a sales and marketing edge.

“We launched SPREE Meetup in response to strong demand in the regional marketplace. We are excited to facilitate a more personal environment where industry professionals can really build relationships,” said Patricia Norins, ICSC vice president of specialty programs. “The more opportunities we provide specialty retail professionals, the more deals get done. The mission of SPREE Meetup aligns with our overall mission to grow the specialty retail industry’s bottom line.”

The concentrated program will take place from 9:00 a.m. to 12:30 p.m. on Sept. 17 at the San Diego Convention Center – a fitting location, as California is the number one market for the $8 billion specialty retail industry. The event is certain to receive crossover from one of ICSC’s largest conferences, the Western Conference, which is expected to attract more than 4,000 attendees.

SPREE Meetup is free to attend and advanced registration is encouraged via SPREE’s online registration portal that can be accessed here.

Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 70,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials.  For more information, visit www.icsc.org.

###

ICSC Survey: 83% of consumers still prefer physical stores for Back-to-School shopping

83% of BTS Purchases Will Involve Physical Stores

NEW YORK, 2015-7-14 — /EPR Retail News/ — The Back-to-School (BTS) season is officially underway in the United States, and more than one-third (34%) of consumers have already begun shopping, according to the International Council of Shopping Centers’ (ICSC) BTS Consumer Spending Survey. Consumers still prefer physical stores for BTS shopping, with 83% of their purchases involving physical stores, including 7% of purchases that will be made online and picked up in-store. Of those who will order online and pick-up in-store, 79% said they are likely to buy additional items once in the store.

Driving in-store BTS purchases in 2015 are the 42% of respondents who still prefer the opportunity to physically examine merchandise before purchasing, while 37% like the convenience of one-stop shopping. The importance of omnichannel continues to grow significantly, as 79% of respondents plan to use a mobile device while shopping in-store for BTS.

Of those planning to use a mobile device while shopping in a physical store, 44% will use their phone to compare prices, 28% will use digital coupons, 26% will check ratings and reviews, 24% will check inventory and availability of items and 17% will email or text friends and family for a second opinion on an item. As expected, millennials are the most likely demographic to use their smartphones while shopping.

“Retailers are enjoying a strong start to the BTS shopping season after a sluggish first quarter of 2015,” said Jesse Ton, spokesman for ICSC. “While typically viewed as an essential expenditure, BTS shopping also highlights many of the trends occurring in the shopping center industry. As physical spaces merge with digital to further enhance the omnichannel experience, consumers are shopping in physical stores, participating in webrooming and using mobile technology at shopping centers. It’s good news as we progress into the all-important latter half of the retail calendar.”

The share of consumers expecting to spend more this year increased significantly year-over-year to 67%, compared to 50% of shoppers in 2014 and 39% who expected to increase spending in 2013.

When discussing why consumers plan to spend more this year, 29% of respondents stated it was because of a need to replace wardrobes and school supplies, while 30% cited a change in school requirements. Additionally, 12% of respondents plan to spend more to keep up with changing fashion trends.

BTS shoppers are planning to buy a variety of products, including school supplies (76%), apparel and shoes (75%), electronics – including computers, phones, accessories and wearables (53%), backpacks and bags (45%) and eyeglasses (22%).

Marketing, Deals & Trends are Driving BTS Shopping

Marketing appears to be the main driver of BTS shopping, as 74% of consumers report that they will likely start BTS purchasing when advertisements from major retailers begin to appear. While those cues from advertising play a major role in consumers’ decision to start BTS shopping, the survey found that nearly half (46%) of consumers believe they will get the best deals in August, compared to 30% in July and 15% of respondents who believe the best deals will be found Labor Day weekend or in September.

The results show August leading the BTS season, with 53% of BTS spending taking place in late summer, and the remainder of shopping split between June (10%), July (21%) and September (17%).

Discount Retailers Prevail, Apparel Specialty Stores Increasing in Popularity

ICSC found that discount stores are still the leading BTS shopping destination, with 77% of consumers turning to discount retailers for their BTS shopping needs. Another of this year’s winners is apparel stores, where one-quarter (25%) of consumers plan to shop this season.

Overall, BTS shoppers plan to shop at a variety of store types that also include office supply stores (40%), online-only retailers (29%), department stores (38%) and wholesale clubs (22%). Only five percent of respondents indicated they would use catalogues.

When choosing a retailer, the top three factors indicated were price (76%), convenience (48%) and quality (41%).

Beyond a Place to Shop

The survey found that most BTS shoppers (88%) plan to go to a mall or open-air shopping center during the BTS season, and many will do more than shop. More than half (53%) of shoppers surveyed plan to dine at the food court and nearly one-third (30%) plan to eat at a table-service restaurant, while 28% will see a movie and 17% will attend an event such as a concert, go to the gym or do an activity such as bowling.

About ICSC:
Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 70,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. For more information, visit www.icsc.org orwww.thecenterofshopping.com.

###

ICSC Survey: 83% of consumers still prefer physical stores for Back-to-School shopping

ICSC Survey: 83% of consumers still prefer physical stores for Back-to-School shopping

ICSC and USC Lusk Center for Real Estate announce the second annual University of Shopping Centers West, Oct. 25–27 at the University of Southern California

Prestigious Industry Opportunity Returns to West Coast

NEW YORK, 2015-4-22 — /EPR Retail News/ — The International Council of Shopping Centers (ICSC), in collaboration with the USC Lusk Center for Real Estate, is pleased to announce the second annual University of Shopping Centers West, the premier educational program serving the retail real estate and shopping center industry with an emphasis on the West Coast marketplace, to be held Oct. 25–27 at the University of Southern California.

The executive level program, which marked its successful debut last year, provides intensive training in trends, practices and forecasts of every aspect of the retail real estate industry. The University features engaging keynote presentations, world-class educational courses and myriad networking opportunities.

The University of Shopping Centers West offers an unparalleled educational experience while promoting a seamless exchange of ideas via roundtable discussions, panels, and receptions. The three-day program commences with retail tours followed by two days of content. Participants can choose from more than 20 interactive courses, taught by a distinguished group of industry professionals and experts, covering the following industry-related topics: retailing, leasing, asset management, development, design and construction and specialized studies.

“The USC Lusk Center for Real Estate is thrilled to again partner with ICSC to bring University of Shopping Centers to Los Angeles. As the retail sector continues its recovery, technology and demographics are reshaping how business is done. This session allows us to design a curriculum and create programs that directly address how these disrupters affect retailers, developers and owners. We are looking forward to another exchange of ideas on what the future will bring,” said Richard K. Green, director of the USC Lusk Center for Real Estate.   ­­­­

“For more than 50 years, we have effectively and efficiently operated the University of Shopping Centers at the University of Pennsylvania, Wharton School of Business,” said Eric Hertz, senior vice president of education at ICSC.  “Last year, we introduced this unique industry opportunity to the West Coast in collaboration with USC Lusk, another esteemed institution in Southern California, and experienced remarkable results. We are excited to once again offer this dynamic program to the West Coast.”

Click here to save the date and receive immediate
 notification once registration opens. 

Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 68,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials.  For more information, visit www.icsc.org.

ICSC HEADQUARTERS

1221 Avenue of the Americas
41st floor
New York, NY 10020-1099
PHONE: +1 646 728 3800
FAX: +1 732 694 1755
EMAIL: icsc@icsc.org
Hours: 9am-5pm (EST)

###

ICSC and USC Lusk Center for Real Estate announce the second annual University of Shopping Centers West, Oct. 25–27 at the University of Southern California

ICSC and USC Lusk Center for Real Estate announce the second annual University of Shopping Centers West, Oct. 25–27 at the University of Southern California

###

 

ICSC partners with shopper location analytics company Path Intelligence

Path Aims to Optimize Shopping Centers by Combining Big Data and Shopper Location Analytics

NEW YORK, 2015-3-24 — /EPR Retail News/ — The International Council of Shopping Centers (ICSC) has signed a global sponsorship agreement with shopper location analytics company Path Intelligence. This exciting agreement fuses ICSC’s established and extensive network and resources with Path Intelligence’s innovative vision for the future of shopping malls.

As the retail real estate sphere evolves in the digital age, there is a growing emphasis on the shopping experience and the need to deliver that ‘something’ that cannot be achieved online. Every decision a shopping center makes – whether it’s selecting the next brand for a vacant unit or getting the overall brand mix right; driving tenant performance or arranging a successful promotion – directly contributes to its success in delivering better shopping experiences, and in turn achieving their financial goals.

The world’s leading shopping centers now share the same urgent need for insights that will help them provide those experiences. It’s an area of significant focus and investment for many of the world’s leading property owners.

“We seek to sign sponsors through our global partnership program that have the potential to significantly enhance the shopping center industry,” said Michael Kercheval, ICSC president and CEO. “ICSC believes that the agreement with Path Intelligence will help drive more focus and discussion amongst our industry on the benefits of location analytics, big-data and the progression beyond basic shopper analytics – something that will help keep our industry moving forward.”

As Matthew Parker, CEO of Path Intelligence, explains, “The world’s best shopping centers deliver a fresh experience to shoppers. They compete for every dollar in a marketplace with increasingly more consumer options than ever before. It is no secret they focus obsessively on getting this right, and starting to gather deep insight into visitor behaviors to continuously tune their offer is paramount. We know collecting and understanding this data can be complex and expensive – that’s where we can help. This partnership enables us to share our vision – one where shopping center decisions, big and small, are based on real shopper behaviors. It’s where both we and the ICSC believe future success lies.”

In 2004, Path Intelligence introduced a revolutionary technology for mapping mobile phones through cellphone signals. Today, Path Intelligence’s aggregation of three cellphone signals – cellular, Bluetooth and Wi-Fi – gives them an understanding of shopper behavior that is unachievable anywhere else. By augmenting this data with a wide variety of other data sources, including store sales, parking lot, weather and trade area information, determines not just where shoppers go, but also how long they spend there, what they spend and where they go next – enabling informed decision-making that can optimize tenant protection and drive asset value across entire portfolios.

To further boost their capabilities, Path Intelligence recently announced their decision to develop a big data hub (PI+) to amalgamate data from multiple sources, including customers and partner networks. In addition, Path also announced the development of a new analytics platform (PIX), which will maximize the capabilities of the hub. Both will be launched later this year.

About ICSC
Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 68,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials.  For more information, visit www.icsc.org.

About Path Intelligence
Imagine the equivalent of web analytics for physical retail. Founded in the labs of MIT, Path Intelligence’s unique, award-winning location analytics technology has created a new category of insight for shopping center operators. We call it Decision Science – the application of scientific principles and practices to shopping center decision-making. It’s about measuring billions of shopper movements in hundreds of locations around the world. Adding unique third-party data. Combining it with the deepest analytic expertise. And then providing our clients with statistically robust predictions that enable more profitable decisions. Decisions that optimize tenant performance, protect and drive lease values, maximize operating income, and ultimately, drive asset value.

Help/Suggestions

+1 646 728 3800
ICSC FAQs
Submit a suggestion

ICSC: 76% of the Valentine’s Day shoppers plan to buy their items in-stores while 60% of online buyers will pick them up in-stores

76% will purchase items in-stores, while nearly 60% of online shoppers will pick up their items in-stores

NEW YORK, 2015-2-12 — /EPR Retail News/ — With Valentine’s Day upon us, consumers are busy shopping for loved ones. According to the International Council of Shopping Centers (ICSC), this holiday, 33% of adults in the U.S. plan to buy chocolate or candy, 19% will buy flowers and 5% plan to buy jewelry. Of those consumers planning to spend money on Valentine’s Day-related purchases, spending will average $96 per adult.

Further, the adults who plan to buy jewelry for Valentine’s Day have spent or will spend an average of $191.80, the adults who plan to buy flowers have spent or will spend an average of $34.90 and the adults who plan to buy chocolate and candy have spent or will spend an average of $21.50.

Falling gas prices could help to fuel spending this Valentine’s Day, as more than half of American adults (51%) feel they have more money to spend, compared to only 42% in an ICSC survey conducted one month ago. Generally, younger consumers surveyed feel that they have more money in their pocket than older consumers.

“January and February have been growing in importance on the retail sales calendar, particularly through Super Bowl and Valentine’s Day sales and promotions. This is highlighting that retailers are doing a better job of spreading out sales across the yearly calendar,” said ICSC spokesperson Jesse Tron. “We also continue to see the importance of the physical store as many consumers will take an omni-channel approach to shopping this Valentine’s Day.”

The survey found that a large portion of Valentine’s Day purchases will occur in brick-and-mortar stores: shoppers plan to buy 89% of chocolate/candies, 88% of cards/decorations, 74% of flowers and 70% of jewelry in stores.

Additionally, many consumers will participate in omni-channel shopping for Valentine’s Day with the majority of consumers picking up their online purchases in a store – 64% of online jewelry purchases will be picked up in-store, along with 67% of chocolate/candies and 51% of flowers.

Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 67,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. For more information, visit www.icsc.org.

###

Contact: Jesse Tron
+1 646-728-3814
jtron@icsc.org
@JesseTronPR

CBL & Associates Properties, Inc. President Stephen D. Lebovitz nominated for ICSC Chairmanship

New York, 2015-1-23 — /EPR Retail News/ — The International Council of Shopping Centers (ICSC) announced today that Stephen D. Lebovitz, president and CEO of CBL & Associates Properties, Inc., has been selected by ICSC’s Board of Trustees nominating committee to serve as the association’s chairman for the 2015–2016 term.  If, as expected, Lebovitz is elected at ICSC’s annual meeting of members in May during RECon, he will succeed Robert F. Welanetz, global retail real estate advisor for Blackstone Real Estate Partners, and become the association’s 56th chairman.

Lebovitz, along with his father Charles who served as CEO until 2010, and two brothers — Alan, the firm’s senior vice president for asset management; and Michael, who is executive vice president for development and administration — have overseen the dramatic growth of CBL since it went public in 1993. Today the firm boasts a $10 billion market capitalization and some $4 billion in equity value, about 80 malls or large open-air centers, and an additional 50 smaller community, power and open-air centers.

“Under Stephen’s skillful leadership, we have watched CBL grow and prosper, even during some very challenging economic times,” said Michael P. Kercheval, ICSC’s president and CEO. “ICSC has similarly benefited from his insights and extraordinary energy. I can’t think of anyone more suited to leading our organization in the coming year.”

Even before Lebovitz joined CBL, he cultivated an early enthusiasm for the industry, working summer jobs during his years at Stanford University at such companies as JMB Realty Corp., Trammel Crow Co., and — between college and Harvard Business School — Goldman Sachs. “I had this magnetic attraction to real estate,” he said, noting that he has also taught college courses on the subject.

Lebovitz has been active in ICSC since the very beginning of his career. Shortly after graduating from Harvard Business School and setting up CBL’s Northeast office, in Boston, he was invited by past ICSC Chairman Stephen Karp, now chairman of New England Development, to get involved in ICSC and become the organization’s state director for Massachusetts. He was subsequently named ICSC’s Eastern divisional vice president and has also served as an ICSC state operations chairman, an ICSC trustee and on the Executive Committee. Lebovitz has also been an active ICSC faculty member. “ICSC really has been the facilitator for so many relationships that I’ve been able to develop over the years in the business,” Lebovitz said. “By volunteering, by working, that’s how you get to know people.”

ICSC should also do all it can to toot the industry’s horn when it comes to shopping centers’ contribution to society, Lebovitz says. “There are so many positives that shopping centers add to the economy, to communities, to individuals,” he said. “I just think we need to do all we can to get that story out there.”

“Stephen’s vast industry expertise, coupled with his extensive ICSC volunteer experience, makes him uniquely qualified to lead this organization, given the many changes the industry and the association are facing in today’s dynamic retail environment,” said Drew Alexander, president and CEO of Weingarten Realty Investors and chairman of ICSC’s Nominating Committee of the Board of Trustees.

Lebovitz, 54, does not spend all his spare time in malls though, and his philanthropic activities are many. He is a trustee of Milton (Mass.) Academy. He is a former director, campaign chairman and committee chairman for the Combined Jewish Philanthropies of Boston and received that organization’s Edwin Sidman Leadership Award in 2014. He is also a former member of the Trust Board of Boston Children’s Hospital.

An avid cyclist, Lebovitz won a silver medal and a bronze medal competing in the international Maccabiah Games last year. In addition, he has completed the annual Pan-Mass Challenge fundraiser for cancer research these past 15 years and the Leadville Trail 100 mountain bike race these past eight years. Lebovitz lives with his wife, Lisa, in Weston, Mass., and they have four children.

Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 68,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials.  For more information, visit www.icsc.org.

###

Contact: Jesse Tron
+1 646-728-3814
jtron@icsc.org
@JesseTronPR

CBL & Associates Properties, Inc. President Stephen D. Lebovitz nominated for ICSC Chairmanship

Retail specialist Harper Dennis Hobbs and ICSC released new research ranking Europe’s towns and cities in terms of retail spend

London, 2014-11-11— /EPR Retail News/ — Retail specialist Harper Dennis Hobbs (HDH) and the International Council of Shopping Centers (ICSC) have released new research today ranking Europe’s towns and cities in terms of retail spend. Europe’s top three are London’s West End with a retail spend in 2013 of almost £8.5 billion, Paris at £7.7 billion and Madrid at almost £5 billion.

In publishing these rankings HDH and ICSC’s aim is to provide a clear picture, based on rigorous analytical research, of the importance of different markets for both retailers and investors.

Jonathan De Mello, Head of Retail Consultancy at HDH comments, “This is the first European Retail Ranking of its kind and finally provides retailers with a means of assessing Europe’s true hierarchy of towns and cities. In order to produce a relative ranking of European town and city centers we have created a pan-European ‘gravity model’ – which calculates the amount of spend flowing to each – and have analyzed and ranked over 15,000 towns and cities across Europe. Gravity modeling calculates the distance an individual has to travel, the attractiveness of the retail offer within the town or city center – and competing centers – and takes into account the total amount of retail space, how that space is split across product categories and the presence of key footfall drivers. Our European gravity model is unique, and is calibrated by our knowledge of retailer and shopping center performance, given the location strategy projects we conduct for retailers on a global basis.”

According to HDH, the success of a town or city center depends on three major factors: residential catchment spend (local residents visiting as a shopping destination); worker spend (particularly important for convenience brands and caterers); and tourist spend (large numbers of wealthy tourists are a crucial factor in many European towns and cities).

Jonathan adds, “Residential catchment spend is calculated for each postal sector using mean income levels and consumer expenditure surveys. Tourist spend is calibrated based on the presence of accommodation and tourist attractions, and visitor numbers and the affluence of tourists is calculated by country of origin and the quality of accommodation. Worker spend is crucial as it is regular expenditure and is calculated on the presence of offices, along with average earnings for certain occupations in each city, which in turn influences likely spend.”

David Harper, CEO of Harper Dennis Hobbs adds, “Our partnership with ICSC in producing these rankings will ensure it becomes the principal medium for retailers to benchmark their portfolios and European expansion strategies going forward. We will produce these rankings annually to account for new retail development – which is particularly prevalent across Central and Eastern Europe – and changes in consumer spending.”

Mike Morrissey, ICSC Chief Global Co-Ordination Officer comments, “The top 10 towns and cities in Europe are those that have a strong residential, worker and tourist spend and include Rome, Munich, Milan, Moscow, Berlin, Zurich and Istanbul. There are some second city entries high up the table where tourism perhaps has a lesser impact, but which have strong retail cores with a wide choice of retail on offer, such as Glasgow and Hamburg.”

The rankings have been based on a 2km radius around the town or city center, which is thought to be the maximum distance shoppers are willing to walk on a single shopping trip. If a shopper can walk between multiple shopping centers and retail streets in a town or city center easily, they are more likely to base their trip on all retail available, not just a single street or shopping center. Any malls, streets or retail units within this radius are attributed to the ‘city center’ offer, whilst malls/retail parks outside this radius are treated as standalone centers.

Andrew Bathurst, who heads up HDH’s International Team comments, “This key new metric for the market will be attractive to retailers and investors alike, as it enables them to assess which towns and cities are the most influential and to compare different markets across Europe. Retailers make decisions to open in new locations based on a huge number of factors such as market size, quality of the retail, shopper profiles and neighboring retailers. This research will allow retailers and investors to compare the top 50 towns and cities using very detailed and mathematical criteria.”

The rankings have been calibrated not only through detailed mathematical research but are also based on HDH’s in-depth understanding of the European retail market, developed from HDH’s work across many different locations. By advising new entrants to Europe, such as American Eagle and J Crew, and established brands such as Estee Lauder, Louis Vuitton, Karen Millen and Oasis, HDH understands which locations are most important for global retailers and what factors influence retail spend.

The UK has the greatest number of towns and cities in the top 50 with 10 in total. However, whilst London West End leads the pack as the best city center in Europe, no other UK town or city makes the top 10. On the other hand, Germany – with 8 towns or cities in the top 50 – has two very strong cities in Munich (5th position) and Berlin (8th position). France (7 in the top 50) is similar to the UK, in that Paris dominates (2nd position in Europe overall) whilst Lyon and Marseilles don’t even figure in the top 20. Finally both Italy and Spain both have two very strong cities each with Rome (4th) and Milan (6th) and Madrid (3rd) and Barcelona (11th) respectively.

Looking east to Central and Eastern Europe, Moscow (7th), St Petersburg (22nd) and Warsaw (48th) all would be significantly higher up the rankings in this particular survey, were it not for the fact that there are significantly more out of town malls in/around their urban cores. Bucharest – which doesn’t make the top 50 – is the most extreme example of this, with limited retail within the city core, but some large and high quality out of town malls. The substantial volume of new mall development in the pipeline will also affect the findings going forward – particularly in Russia and Turkey – with many more malls planned or under construction in both markets over the next few years.

-Ends-

For further information please contact Jonathan De Mello on 020 7462 8703, Porterfield PR on 020 7647 4420 or Jesse Tron at ICSC in New York on +1 646 728 3814.

Ian Purvis, Porterfield PR         M: 07771 993926

ian@porterfield.co.uk

Cath Cookson, Porterfield PR         M: 07799 713941

cath@porterfield.co.uk

Jesse Tron, ICSC

jtron@icsc.org
@JesseTronPR

Top 50 European Ranking:
Retail specialist Harper Dennis Hobbs and ICSC released new research ranking Europe’s towns and cities in terms of retail spend
Number of Retail Centers in Top 50 by Country:
Rank_2

 

ICSC Research: Shopping centers performing well even as they undergo profound evolution

NEW YORK, 2014-10-15— /EPR Retail News/ —  Shopping centers are performing well even as they undergo a profound evolution, according to a report by ICSC Research. “The shopping center industry is currently vibrant and healthy,” writes Michael P. Kercheval, ICSC’s president and CEO, in the introduction to Shopping Centers: America’s First and Foremost Marketplace. “We believe [the industry] is poised for unprecedented success going forward — not in spite of e-commerce, but because of it.”

The 18-page report, available at ICSC.org, blends statistical data with big-picture analysis by a host of observers. And the big picture is quite encouraging, they note. With new supply in America’s developed markets growing at its slowest pace in some 40 years in 2013, the relative lack of shopping center construction is restoring the supply-demand balance and helping to shore up occupancy rates. New tenants are likely to lease even more space in the U.S. over the next two years as retailers open an estimated 77,000 stores — a five-year high. Other positive trends include rising demand driven by population growth; the opportunity to tailor tenant mix to meet the needs of increasingly important demographic groups such as Hispanics and Millennials; growing interest in brick-and-mortar space among formerly online-only retailers such as Athleta, Bonobos, Boston Proper and Warby Parker; and the successful efforts of landlords to broaden the appeal of their shopping centers, in part by means of a creative tenant mix.

Given the ubiquitous story line that e-commerce is killing brick-and-mortar retail, the assertion that online sales could actually help the industry might seem counterintuitive. But precisely because online retail offers such an easy and convenient way to buy commoditized goods, its popularity has forced developers to think harder about how to create high-energy experiences at their properties, according to Mark Toro, a partner at North American Properties who heads the firm’s Atlanta office. The effect of all this is a paradigm shift that will strengthen the industry, Toro says. “Back in the day when shopping centers were being built in every suburb, all you had to do was line up the retailers and provide convenient and easy access, and people would come shop,” Toro said. “We have turned that on its head now: Instead of providing the most convenient, quickest way to shop, we’re providing guests with a place to be, which extends dwell times.”

Owners of the larger regional centers will continue to focus on the experiential dimension by adding restaurants, entertainment features, lively outdoor space and the like, the report says, while neighborhood centers, by contrast, are likely to keep leveraging convenience factors.

In-store conversion rates continue to be four times higher than online-only conversion rates, the report authors point out. “Consumers still prefer in-store shopping. Ninety-four percent of total retail spending happens within the four walls of a physical store,” the report says. (In 2013 online retail sales came to some $263 billion, which accounts for only 6 percent of total retail sales, according to the U.S. Commerce Department. In-store sales, meanwhile, accounted for the rest, totaling some $4.3 trillion.)

Meanwhile, investors show confidence. Retail REITs, in particular, have maintained strong property performance amid the challenges of the Internet age, thanks largely to savvy management, observers say. “The REIT industry as a whole has produced returns averaging nearly 11 percent per year for more than 20 years, and yet retail REITs have produced returns averaging 11.82 percent per year — even better than an industry that has done very well overall,” said Brad Case, senior vice president of research and industry information at NAREIT. Annual returns for institutionally owned (i.e., non-REIT) retail properties on an unlevered basis, he says, have averaged 8.65 percent.

Click here for the whole report.

ICSC forecasts 4.0% increase in sales during the November-December U.S. holiday shopping period

Positive Economic Trends Point Toward Improved Consumer Spending

NEW YORK, 2014-10-15— /EPR Retail News/ — Positive economic signals point to a stronger holiday shopping season as the International Council of Shopping Centers (ICSC) forecasts a 4.0% increase in sales during the November-December holiday shopping period, the strongest gain in three years. Total holiday shopping sales at shopping centers is estimated to be $488.6 billion in the same period.

A significant rebound in the U.S. labor market since last spring, along with decreasing unemployment rates and year-over-year gains in personal income, all bode well for consumers and point to a likely solid increase in holiday spending.  Also, despite a setback in September, consumer confidence in the U.S. remains considerably higher than during the same time last year.

“While consumers are expected to remain focused on price this holiday, the positive momentum of key economic indicators are pointing to consumers who are willing to open their wallets and hit the stores this holiday,” said Jesse Tron, spokesperson for ICSC.

Holiday hiring, another strong indicator of holiday sales, is forecasted to be up with seasonal employment at shopping centers expected to rise by 7.3% to 794,258 jobs.

Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 67,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. For more information, visit www.icsc.org.
###

ICSC President and CEO Michael P. Kercheval announced plans to retire in January 2016

ICSC President and CEO Michael P. Kercheval has announced he will retire in 2016.

New York,  2014-10-1— /EPR Retail News/ — Kercheval, who will be 60 upon his planned retirement in January 2016, has headed ICSC for 13 years, a period that has seen the organization expand dramatically from about 40,000 in 2001 to some 67,000 currently. ICSC has also grown internationally, forging links with associations across the world; it now has members in 109 countries, and there is an ICSC event occurring somewhere on just about every day of the year.

Kercheval joined ICSC in 2000 and succeeded John T. Riordan as president and CEO in May 2001. He is only the third chief executive in the organization’s 57-year history. Before that, he worked for 20 years in real estate investment banking, most recently as a senior executive with Lend Lease Real Estate Investments.

“While 2016 might seem like a long way away, I want to be certain that there is a smooth transition of leadership and that the process takes into consideration all of the opportunities that a change in leadership can create,” Kercheval said in an announcement to the Board of Trustees, past trustees and ICSC staff. “On a quick personal note, with the last of my children now out of the house and a desire to allocate more of my time to some of my other interests, I had long ago set a goal to retire relatively early and to turn over the reins of this great association to the next generation of leaders.”

ICSC HEADQUARTERS

1221 Avenue of the Americas
41st floor
New York, NY 10020-1099
PHONE: +1 646 728 3800
FAX: +1 732 694 1755
EMAIL: icsc@icsc.org

###

ICSC President and CEO Michael P. Kercheval announced plans to retire in January 2016

ICSC President and CEO Michael P. Kercheval announced plans to retire in January 2016

ICSC Halloween Consumer Spending Survey: Average household plans to spend $125 this year on Halloween-related items

NEW YORK, 2014-9-23— /EPR Retail News/ — Halloween is anticipated to continue to drive consumers to spend, with nearly three-quarters (74%) of U.S. households planning to spend money on Halloween-related items, according to the International Council of Shopping Centers (ICSC) Halloween Consumer Spending Survey. The total for Halloween-related spending is expected to be approximately $11.3 billion in 2014.

Excluding households that don’t plan to spend anything on Halloween, the average household plans to spend $125 this year on candy, costumes, decorations or other Halloween-related items. Eight out of ten households plan to spend the same or more on Halloween compared to last year, with one out of five households planning to increase spending.

“Halloween has continued to grow in importance over the past several years and consumer demand has driven retailers to place greater emphasis on the holiday,” said Jesse Tron, spokesperson for ICSC. “The fact that consumers are willing to spend more on discretionary purchases is a positive sign for the upcoming holiday shopping season.”

Similar to ICSC’s back-to-school shopping survey, the Halloween survey indicates that sales and promotions will be the biggest factor in the decision to shop at a particular location for Halloween-related items. When asked what influences them the most when choosing a store for Halloween, 64% of consumers said sales or the lowest price, 31% said the ability to physically see, touch or try on the merchandise and 29% said convenience/one-stop shopping/good parking.

The focus on price, along with an interest in one-stop shopping, could account for discount stores claiming the top spot this Halloween: 34% of spending will take place at discount stores; behind discounters, supermarkets are expected to grab 18% of purchases; followed by clothing and costume stores (13%); drug store chains (11%); and wholesale clubs (9%).

Overall, according to the survey, more than 90% of households will select brick-and-mortar retail stores as the preferred venue for Halloween shopping, and online is expected to see a 7% share of purchases.

Researching and planning ahead online before buying in-store continues to be an integral part of the shopping experience this fall, with 41% of households planning to participate in ‘webrooming’ – researching online before purchasing Halloween-related items in physical stores.

In addition to being a significant shopping destination for Halloween-related items, shopping centers and malls continue to evolve into community hubs. Out of the parents planning to take their children trick-or-treating this year, 17% will participate in a Halloween event sponsored by a mall or shopping center in 2014, in addition to more traditional neighborhood trick-or-treating and school events. The top costume for boys this year will be a superhero and the top costume for girls in 2014 will be a princess.

Methodology:
The ICSC Halloween Consumer Spending Survey was conducted online by Opinion Research Corporation on behalf of ICSC between September 4-7, 2014. The survey represents a demographically representative U.S. sample of 1,000 adults 18 years of age and older.

About ICSC:
Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 67,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. For more information, visit www.icsc.org.
###

Contact: Jesse Tron
+1 646-728-3814
jtron@icsc.org
@JesseTronPR

 

ICSC Halloween Consumer Spending Survey: Average household plans to spend $125 this year on Halloween-related items

ICSC Halloween Consumer Spending Survey: Average household plans to spend $125 this year on Halloween-related items