December 10, 2019
Shopping centers are responding to changing consumer trends by adding more tenants that sell experiences and not just merchandise.
This means that gyms, restaurants and services are taking up more space than ever. Over the past five years alone, the percentage of space dedicated to traditional retail has declined by 6.7 percent in favor of dining and other nonretail uses.
ICSC President and CEO Tom McGee talks about this trend in his latest blog post for Forbes.
“Changes of this nature have been occurring since the first mall was built 60 years ago," writes McGee, "and will continue to do so in the years and decades to come.”
By Brannon Boswell
Executive Editor, Commerce + Communities Today