Contrary to some predictions, e-commerce has not made brick-and-mortar retail a thing of the past. Instead, as attendees at a ULI Spring Meeting session learned, shopping and dining are making critical contributions to activating urban spaces and helping shopping centers continuously evolve. Retail center owner/operator Westfield has actually acquired an off-Broadway theater company to enliven the shopping experience, while Nordstrom excites customers with pop-ups featuring everything from Hermes to Kylie Jenner. Learn more from Leslie Braunstein’s article in Urban Land magazine.
Members of generation Y – some 80 million Americans between the ages of 18 and 35 – may be always-connected, but they still do most of their shopping in stores. Viewing shopping as an experience and opportunity to socialize with friends and family, gen Y consumers are always looking for something new and exciting. From providing pet accommodations to encouraging pop-up stores and restaurants, retailers, developers, owners, and investors must take new approaches to engage members of gen Y and gain their loyalty.