ICSC

New ICSC Consumer Returns Data: Brick-and-Mortar Shopping Drives Lower Return Rate Than Online Shopping

Retrieved on: 
Tuesday, March 19, 2024
Online Retail, Retail, Department Stores, Commercial Building & Real Estate, Construction & Property, Consumer, ICSC, Research, Halo effect, Online shopping

Our latest findings further prove this by showing that the return rate for in-store purchases is three times less than the return rate for online purchases.

Key Points: 
  • Our latest findings further prove this by showing that the return rate for in-store purchases is three times less than the return rate for online purchases.
  • Additionally, consumers are becoming more mindful of changing return policies that result in fees and shortened return windows.”
    The average return rate for online transactions is 15.2%, three times higher than the 5% return rate for in-store purchases.
  • 82% of respondents said that when shopping online, return policies influence whether they decide to purchase from a retailer.
  • While stricter online return policies might drive consumers away from shopping online, it can drive shoppers to stores.

PREIT Completes Financial Restructuring and Implements Changes to Management and Board

Retrieved on: 
Monday, April 1, 2024
Management, Bankruptcy, Plan, Howard Hughes Corporation, JV, LPT, COVID-19, FDP, PREIT, Brookfield Properties, Vicinity Centres, The Rouse Company, International Council, Realty Income, VEREIT, GGP, ICSC, Fashion District Philadelphia, LP

Trade creditors and property level mortgage debt were unaffected by the restructuring.

Key Points: 
  • Trade creditors and property level mortgage debt were unaffected by the restructuring.
  • As a result of its corporate reorganization and consolidation of equity holders, PREIT is no longer an SEC reporting company.
  • In support of its go-forward business plan, PREIT is also announcing certain changes to its management and Board.
  • Mr. Coradino led PREIT through its comprehensive financial and corporate restructuring as discussed above, and now that such restructuring has been successfully completed, Mr. Coradino will no longer serve as Chief Executive Officer and trustee of PREIT, effective as of April 1, 2024.

Newmark Announces Expansion of Retail Capital Markets Team; Hires Industry Expert Conor Lalor to Lead

Retrieved on: 
Thursday, March 28, 2024
Minter, RKF, Newmark Group, Sun Belt, Lead, Sale, Lalor, Senior, Capital market, CRC, Gold, ICSC, Financial services

Lalor's team will also collaborate closely with Chairman of Global Retail, Newmark Retail Services Mark Masinter and the broader Retail services team to advise clients on the latest retail trends.

Key Points: 
  • Lalor's team will also collaborate closely with Chairman of Global Retail, Newmark Retail Services Mark Masinter and the broader Retail services team to advise clients on the latest retail trends.
  • The expansion of Retail Capital Markets further strengthens Newmark's cohesive retail services platform and the firm's Capital Markets business offerings.
  • "This is an exciting time in the retail sector, with strong fundamentals and investor interest rapidly expanding," said Lalor.
  • "Newmark has built a world-class retail leasing and capital markets business, and the opportunity to lead and team up with some of the industry's most renowned and respected professionals creates immeasurable value-creation opportunities for our clients, combining expert insight into retail trends with capital markets advisory.

Global Commercial Real Estate Brand SVN® Appoints New Retail Product Council Co-Chair

Retrieved on: 
Thursday, December 7, 2023
SVN, Michigan Avenue, WIRL, One Magnificent Mile, Gage Group Buildings, Willis Tower, International Council, Viacom, ICSC, KARR, CB, ABN AMRO, CREW, Commercial Real Estate Women, Transport, Shopping, CCIM, ABN, MCL

Boston, MA, Dec. 07, 2023 (GLOBE NEWSWIRE) -- SVN International Corp. (SVN), a global commercial real estate brand, is pleased to announce the appointment of Leslie Ka rr with SVN | Commercial Advisory Group as the Co-Chair of the SVN Retail Product Council.

Key Points: 
  • Boston, MA, Dec. 07, 2023 (GLOBE NEWSWIRE) -- SVN International Corp. (SVN), a global commercial real estate brand, is pleased to announce the appointment of Leslie Ka rr with SVN | Commercial Advisory Group as the Co-Chair of the SVN Retail Product Council.
  • Bringing over two decades of specialized experience in retail real estate, Ms. Karr’s dynamic background reflects a profound knowledge and passion for the clients she represents.
  • “The Retail Product Council is a premier venue for the creative exchange of ideas that separate SVN Retail advisors from other retail service providers.
  • Ms. Karr is an active member of Commercial Real Estate Women (CREW), Chicago Women in Retail Leasing (WIRL), and the International Council of Shopping Centers (ICSC).

Kilroy Announces Leadership Transition

Retrieved on: 
Thursday, December 14, 2023
REIT, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Equity Residential, ICSC, NYSE, Audit committee, Korn Ferry, Chairperson, RREEF, ULI, Treasurer, KRC, Urban Land Institute, Trustee, University, Retirement, Deutsche Bank, Doctor of Philosophy, Growth, Brixmor Property Group, Economics, Management, Kilroy

Ms. Aman will succeed John B. Kilroy, Jr., who previously announced his planned retirement and will continue to serve as the Company’s CEO until January 21, 2024.

Key Points: 
  • Ms. Aman will succeed John B. Kilroy, Jr., who previously announced his planned retirement and will continue to serve as the Company’s CEO until January 21, 2024.
  • In addition, Mr. Kilroy will serve as an advisor to the Company through the end of 2024 in order to ensure a smooth transition of responsibilities, and will remain Chair of the Board through his current term.
  • “I am pleased to welcome Angela as the new CEO of Kilroy,” said Mr. Kilroy.
  • As a result, Kilroy is exceptionally well positioned for continued success and industry leadership in the years to come.

New ICSC Study, “The Halo Effect III: Where the Halo Shines,” Quantifies How Physical Stores Drive Online Sales

Retrieved on: 
Tuesday, December 12, 2023
Cosmetics, Retail, Consumer, Home Goods, Online Retail, Restaurant, Bar, Luxury, Convenience Store, Department Stores, Supermarket, Specialty, Food, Beverage, Generation Z, Fashion, DTC, Gen, ICSC, Research, Halo effect, ZIP, Millennials, Digital technology, Online shopping, Generation X

Today, ICSC released its latest report, The Halo Effect III: Where the Halo Shines, quantifying the impact of opening or closing physical stores on online sales and retailers’ overall performance.

Key Points: 
  • Today, ICSC released its latest report, The Halo Effect III: Where the Halo Shines, quantifying the impact of opening or closing physical stores on online sales and retailers’ overall performance.
  • For emerging, direct-to-consumer (DTC) brands, the benefits are even higher - the correlating halo effect for online sales is 13.9 percent when opening a new store.
  • Conversely, closing stores has an even greater negative impact on retailer performance, resulting in an 11.5 percent drop in sales.
  • “While our earlier research on the halo effect demonstrated how physical stores drive web traffic and brand awareness, our latest report dives deeper by analyzing actual spend data.

ICSC Announces Jim Taylor as ICSC Chairman and Angele Robinson-Gaylord as ICSC Vice Chairman for 2024

Retrieved on: 
Wednesday, December 6, 2023
Luxury, Toys, Discount, Variety, Department Stores, Wine & Spirits, Tobacco, Supermarket, Specialty, Restaurant, Bar, Food, Beverage, Office Products, Fashion, Cosmetics, Retail, Convenience Store, Jewelry, Footwear, Catalog, Home Goods, Online Retail, Vice, Regency Centers, ICSC, Senior, Real estate development, IKEA, Rite Aid, Real estate, Success Academy, Federal Realty Investment Trust, Treasurer, Vestar Capital Partners, Trust, Trustee, Co-operative Retail Services, Growth, Brixmor Property Group, Collier, Education, Management, Starbucks

ICSC announced today that the organization’s Board of Trustees elected Jim Taylor, President & CEO of Brixmor Property Group, to serve as ICSC’s Chairman and Angele Robinson-Gaylord, Senior Vice President, Store Development Americas of Starbucks, to serve as Vice Chairman for the 2024 term.

Key Points: 
  • ICSC announced today that the organization’s Board of Trustees elected Jim Taylor, President & CEO of Brixmor Property Group, to serve as ICSC’s Chairman and Angele Robinson-Gaylord, Senior Vice President, Store Development Americas of Starbucks, to serve as Vice Chairman for the 2024 term.
  • Prior to being named ICSC’s Chairman, Taylor served as the organization’s Vice Chairman for the 2023 term.
  • Jim previously served as Executive Vice President, Chief Financial Officer and Treasurer for Federal Realty Investment Trust, and, prior to Federal, Head of Real Estate Investment Banking for Eastdil Wells Fargo.
  • Robinson-Gaylord continues to support education and professional development programs for talented minority professionals in commercial real estate.

MEDIA ALERT: ICSC’s 2023 Post-Thanksgiving Weekend Survey Shows Resilient Consumer Spending As 195 Million Americans Shopped Over the Weekend

Retrieved on: 
Wednesday, November 29, 2023
Home Goods, Cosmetics, Retail, Online Retail, Convenience Store, Luxury, Catalog, Other Retail, Discount, Variety, Restaurant, Bar, Department Stores, Supermarket, Specialty, Food, Beverage, Fashion, Beauty, Health, ICSC, Cyber Monday, Black Friday

Our Post-Thanksgiving Weekend Survey revealed that consumers turned out to shop both in-store and online.

Key Points: 
  • Our Post-Thanksgiving Weekend Survey revealed that consumers turned out to shop both in-store and online.
  • Two-thirds of consumers say they still have a significant amount of holiday shopping to do, despite shopping over Thanksgiving weekend.
  • About 66% of Thanksgiving weekend shoppers – or 118.8 million people – spent money at a brick-and-mortar store, consistent with 2022 and up 5 percentage points from 2021.
  • Dollar/variety stores (29%), apparel, footwear, and accessory retailers (26%), electronics stores (25%), and health and beauty (24%) saw a rise in popularity.

Consumer Spending Expected to Reach $130B on Thanksgiving Weekend 2023

Retrieved on: 
Wednesday, November 15, 2023
Retail, Consumer, Home Goods, Online Retail, Luxury, Toys, Discount, Variety, Department Stores, Catalog, Jewelry, Other Retail, Other Consumer, Specialty, Fashion, Holiday, Social media, ICSC, Research, Cyber Monday, Black Friday, Online shopping

Consumers expect to spend a total of $130B during the upcoming holiday shopping weekend, a 4 percent increase from last year’s spending expectations, according to the new ICSC Thanksgiving Weekend Intentions survey.

Key Points: 
  • Consumers expect to spend a total of $130B during the upcoming holiday shopping weekend, a 4 percent increase from last year’s spending expectations, according to the new ICSC Thanksgiving Weekend Intentions survey.
  • While consumers anticipate inflation and rising prices to impact their holiday shopping, they remain resilient in their spending and plan to adjust their shopping behaviors during Thanksgiving weekend to account for the current economic climate.
  • “Shoppers continue to remain optimistic about the upcoming holiday shopping weekend despite inflation,” said Tom McGee, President and CEO of ICSC.
  • The 2023 ICSC Thanksgiving Weekend Intentions survey was conducted online from November 10 - 12, 2023.

Grosvenor's North American Property Business Announces Investment Team Leadership Changes

Retrieved on: 
Thursday, December 7, 2023
Colliers (company), Carbon, Acquisition, ICSC, SAN, Senior, Investment, Commercial Real Estate Women, Organization, Woman, American City Business Journals, CAD, Asset management, CREW, National Association, CIO, ULI, Shopping, Partnership, CBRE, Farallon Capital, Elementary, Urban Land Institute, Collier, BOMA, International Council, Management, Property management, Science

"Michael has been a foundational member of our executive team and a source of inspiration for people throughout our company," said Steve O'Connell, CEO of Grosvenor's North American urban property business.

Key Points: 
  • "Michael has been a foundational member of our executive team and a source of inspiration for people throughout our company," said Steve O'Connell, CEO of Grosvenor's North American urban property business.
  • "Michael has served as CIO for 12 of his 23 years with Grosvenor; he had overall responsibility for all of our Investment property transactions and oversaw our Asset Management team.
  • Michael's strong leadership within Grosvenor has left an enduring impact and he has set his team up for continued success."
  • Since 2011 he has overseen all Investment property transactions and the company's Investment portfolio across North America.