Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/231459
the Latin American shopping center industry in 2014 and beyond is to master the art of generating likable experiences: campaigns and events that beg to be shared in ways that further drive traffic and, ultimately, convert into sales. This is another way of saying that retailers and developers across the region, or for that matter, the world, cannot simply focus on improving the shopping experience. Either they are a part of the dialogue, or they simply do not exist. Retailers and developers cannot simply focus on improving the shopping experience. Either they are a part of the dialogue, or they simply do not exist. —Pablo a. Torres, Triángulo Las Ánimas the importance to the shopping center industry lies mostly in becoming part of the conversation. When people communicate, they include in their messages where they are, what they are doing, images, videos and how they feel about particular experiences. And that means that when they interact with retailers and shopping center owners, any comment could become a viral event in a matter of seconds. Indeed, shoppers' opinions and behavior often reach online audiences numbering in the thousands. For digital natives, every moment is valuable information shared. But this term is not reserved for the youngest demographic. In 2014 the impressive growth in digital penetration by baby boomers will continue, in part because the tens of millions of now-retiring baby boomers will have more time and money to spend on their adventures, online or otherwise. The challenge for 42 SC T / J a n u a r y 2 0 1 4 Alan Barocas, Senior Executive Vice President of Leasing General Growth Properties Chicago Strategic planning has long been a top priority in the shopping center industry among retailers and landlords alike. But in the coming year, I'll continue my push to ramp up the level of collaboration between our leasing teams and their contacts at national retail chains. The basic idea is to engage in strategic planning together rather than separately, to communicate earlier and more frequently about our plans, thereby maximizing opportunities for growth. The need for this is clear. At better malls across the country, but particularly in the 'A' centers, demand for space is at a premium. Having reached growth thresholds with their primary concepts, mature retailers are now eager to push forward with new nameplates. Examples include Gap's Athleta, Pink by Victoria's Secret, Chico's Boston Proper, and Lululemon's test concept for kids, Ivivva Athletica, to name just a few. Meanwhile, international retailers continue to expand. Led by its U.S. COO, Larry Meyer, Uniqlo has raised its profile on both coasts with a smart, disciplined growth strategy. H&M; also continues to expand, as well as Zara, which is looking to maximize its full brand offering by evolving into much larger stores of up to 30,000 square feet. From a leasing perspective, mall owners need to do everything they can to give these and other expanding retailers solid opportunities for growth. When landlords and retailers sit down together and have an open dialogue about their strategic plans, the net result is a clear picture of emerging opportunities in the years ahead. Retailers gain footholds in centers they thought were inaccessible; owners gain the ability to finetune their tenant mixes in ways that would have been impossible in the absence of such communication. And by getting stores opened sooner rather than later, this process also facilitates another key goal — speed to market — thereby generating both Having reached growth thresholds with their primary concepts, mature retailers are now eager to push forward with new nameplates. — alan Barocas, General Growth Properties