Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/122387
r e T a i l i n g T o d a y adding: "We're touching everything from moms and tots in the morning, to couples and seniors and three generations playing boccie together. It's a very comfortable community, a family environment." The restaurants serve lunch and dinner seven days a week, and a Sunday brunch buffet is available from 10 a.m. to 2 p.m. Live jazz can be heard on Friday and Saturday nights. Each site plays host to some 2,000 planned events annually. The original Pinstripes restaurant is in Regency Centers' Willow Festival, in Northbrook, Ill., and the second and third units are in The Arboretum of South Barrington, and at the Centennial Shops, in Edina, Minn. The restaurant at Oakbrook Center, in Oak Brook, Ill., is a twolevel space with 16 bowling lanes, six indoor and four outdoor boccie courts, and two outdoor fire pits. "Certainly, we look at some of the same standard demographics that other likeminded, upscale retailers and restaurants look for, whether it's education level or the right demos in terms of household income and density," said Schwartz. "We also track the number of hotel rooms, particu- "We track the number of hotel rooms, particularly within a three- and five-mile radius. That for us is very indicative of business travel and discretionary income." larly within a three- and five-mile radius. That for us is very indicative of business travel and discretionary entertainment income." Co-tenants are always an essential element, of course, and to Schwartz, those could be the likes of Anthropologie, Crate & Barrel and Whole Foods. "It's that similar, 'A'-quality retailer mix that is attracting our customers," he said. "We really need to be amongst that." SCT Families increasingly leave the kids home when dining out Fewer families are taking their kids out to the contributors to the sluggishness the industry in 2012, she says. In the eat, and that is hurting business at U.S. in restaurant industry traffic, but it's hamburger category alone, parties restaurants. Last year, for the first time in also an opportunity for restaurant op- with kids account for $22 billion and four years adult-only restaurant visits in- erators to increase share, says Bonnie 5 billion visits. creased, but visits that included children "Our forecast is for sluggish restaurant remained flat for the second consecutive demand over the next decade, which year, according to consumer research means operators will battle for market firm NPD Group. share. Getting families with their chil- Adult-only visits increased by 1 percent, as dren back into restaurants is certainly did total restaurant traffic for the year, one of the ways in which they can grow according to the firm. The two years revenue and increase share," Riggs of nongrowth in restaurant visits with said. "We continually hear from fami- children, or what is called "parties with lies with kids that it's too expensive to kids" in industry vernacular, followed eat out. Restaurant operators must un- three years of recession-related declines. The lack of growth in the number of visits by parties with kids is among 130 SC T / M a y 2 0 1 3 Riggs, a restaurant industry analyst derstand their financial situation and at NPD. Parties with kids contributed reflect it in pricing of kids' menu items $84 billion and 15 billion visits to and kids' meals." — KR