The Official ICSC Blog and the Voice of the Retail Real Estate Industry

The Official ICSC Blog

March 14, 2014

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It’s March Madness ICSC Foundation-Style!

Realistic Vector Basketball Court and Ball
AlexMcDonaldMarch is synonymous with one thing, college basketball. The ICSC Foundation is getting in on the madness and providing you with an easy way to show your school pride while helping the next generation of industry leaders.

The ICSC Foundation, led by foundation director John Crossman CCIM, CRX, has made huge strides in their Undergraduate Real Estate Award Campaign. The ICSC Foundation partners with 28 universities in North America to give a deserving real estate student a $2,000 scholarship and ICSC student membership annually.

To ensure this program will continue for years to come, the ICSC Foundation has set out to raise $25,000 for each school’s scholarship fund. The results have been overwhelming: $386,417 collected in cash and pledges since the beginning of the year. Eight of the university’s funds have been endowed and in some cases the goal has been doubled and tripled. The math is easy – the more money we raise, the more scholarships we award.

Congratulations on the big win alums from the following universities:

Villanova University $75,000 Kieran P. Quinn Undergraduate Real Estate Award
University of Central Florida $56,916 George Livingston Undergraduate Real Estate Award
Florida International University $50,750 Rufrano Family Undergraduate Real Estate Award
University of Florida $47,500 Maury L. Carter & Associates Undergraduate Real Estate Award
Florida A&M $29,142 Glenn and Linda Sue Miller Undergraduate Real Estate Award
Florida State University $27,899 Dean Gatzlaff Undergraduate Real Estate Award
Southern Methodist University $25,125 Wilson/Boyd Undergraduate Real Estate Award
Florida Southern College $25,000 Charles H. Jenkins Undergraduate Real Estate Award

That leaves 20 schools to go. Some campaigns have a strong start and you can help make it a slam dunk. There are still plenty of alums who should be shameful about more than just their brackets.

University of Colorado

$20,275

Baruch College

$11,135

University of Connecticut

$5,000

University of Northern Iowa

$4,500

Indiana University

$1,410

University of Pennsylvania

$5,600

University of Georgia

$425

DePaul University

$260

University of Wisconsin

$210

University of San Diego

$100

Marquette University

$50

University of Southern California

$50

University of Illinois

$35

University of Denver

$25

University of Cincinnati

$10

California State University-Northridge

$0

Georgia State University

$0

UCLA

$0

University of Texas at Austin

$0

University of Guelph

$0


How can you help your alma mater succeed this March? Visit the ICSC Foundation web site, log in, designate which school you would like your contribution to go to or use the tribute field to indicate your school.
Why not become a fundraising ambassador at any of these universities? It is a fun way to get more involved with ICSC and network with other alums in the industry. For more information contact ICSC Foundation at foundation@icsc.org.

Donate to your alma mater!

March 14, 2014

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Q&A with RECon Latin America Speaker Zia Daniell Wigder

Zia-Daniell-Wigder-PRTell us about yourself…
I am a VP and Research Director at Forrester Research focused on global eCommerce issues. I look at how eCommerce is evolving in different international markets and help companies figure out how to take advantage of best practices around the globe. I’m especially interested in the rapidly growing emerging eCommerce markets of the world such as those in Latin America.

Where do you see the industry in five years?
In every country in the world, eCommerce revenues continue to increase, with many markets in Latin America growing by a compound annual growth rate of almost 20% over the next five years. While Brazil will remain dominant from a revenue perspective, reaching $35 billion in online retail sales by 2018, other markets will continue to charge forward with exciting opportunities across the region. We see online retail sales in Argentina reaching almost $7 billion by 2018, and those in Mexico approaching $6 billion. There is clearly opportunity for retailers to expand their eCommerce offerings in the short term, and to prepare for much larger markets longer term.

Why are you excited for the future of the industry?
eCommerce is exciting because of the substantial growth in the market going forward, as well as the pace of change in the industry. We’ve barely scratched the surface of what mobile commerce will look like in Latin America, for example – likewise, omnichannel initiatives are very much in their infancy. Latin American retailers are in a unique position in that they already play a prominent role in eCommerce in the region – a look at the list of the top 10 online retailers in any of the larger Latin American markets reveals a number of traditional retailers on the list. That dynamic differs from markets like China and India where almost all of the leading players are web-only retailers.

Tell us about your session at the conference.
My session at the event will look at some of the developments in emerging eCommerce markets around the globe and will analyze how eCommerce in Latin America is similar to – and different from – eCommerce in other fast-growing markets like Russia, India and China. We’ll look at what eCommerce trends are apparent in virtually every country around the globe, and which ones are specific to Latin America. We’ll also talk about how retailers can take advantage of some of the trends and innovation taking place outside of the region. The session aims to provide a global view of what’s happening in eCommerce and present Latin America within that context.

March 12, 2014

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Check out this Q&A with RECon Latin America Speaker Julian Treasure

Julian TreasureTell us about yourself
Julian Treasure is founder and chairman of The Sound Agency, a UK-based audio branding consultancy that asks and answers the question: “How does your brand sound?”. For 10 years TSA has been proving that good sound is good business for clients such as Harrods, Nokia, BP and many major shopping malls across Europe. His book Sound Business is the seminal work on creating intentional, effective business sound. He has been widely featured as a sound and communication expert in the world’s radio, print and web media, including TIME Magazine, The Economist and The Times. Julian is also a sought-after and top-rated international speaker. Collectively his four TED talks on various aspects of sound and communication have been viewed an estimated seven million times; his talk on conscious listening is in the rare group that have achieved over 1.5 million views on TED.com, putting it in the top 100 TED talks of all time.

Where do you see the industry in five years?
In five years shopping centers will be focused on delivering two things: designing experience (in all five senses) that delights and engages; and facilitating community through imaginative social spaces.

Why are you excited for the future of the industry?
I’m excited because so far the industry has hardly scratched the surface of what sound can do. In a few years we’ll look back on bad acoustics, lots of M&E noise, and mindless pop music played through low quality sound systems and wonder how anyone ever thought that was a great retail environment.

Tell us about your session at the conference.
My session will transform attendees’ relationship with sound for ever! I will show how sound affects us all and why we don’t notice this. I will explore how good sound is good business for brands, especially in retail, with examples of how sound can increase sales and customer satisfaction.

March 10, 2014

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ICSC Offers Job Seekers A Helping Hand

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ICSC members around the world know they can visit the association’s online jobs board to post or browse through job listings and résumés. Indeed, this free service has long been one of the most popular features of the ICSC website. But when it comes to finding a job — or finding an ideal job candidate, for that matter — ICSC can be a helpful resource in other ways as well. “The jobs board is great for helping both employers and people seeking employment, because we’re constantly updating it and adding new opportunities there,” said Jennifer Marotta Collin, ICSC’s membership development manager. “But there are also ways to network and build contacts through ICSC that can be every bit as valuable as posting on our jobs board.”

Real estate is a relationship-based business, so those ICSC members who volunteer with the organization stand to learn more about the industry even as they forge new connections with potential employers or job candidates, Collin says. Volunteer opportunities include serving as a speaker or panelist at ICSC events; judging awards programs; contributing to the association’s philanthropic foundation; working with young people through the Next Generation program; planning and setting agenda topics for local programs or large conferences; and lobbying lawmakers.

Job seekers may also gain an edge over the competition by pursuing professional certification through ICSC, Collin notes. Becoming a Certified Retail Property Executive (CRX), a Certified Shopping Center Manager (CSM) or any of the other designations available can help a professional to build confidence for earning a promotion, or may boost personal marketability for job offers. Certification may also be associated with higher pay, more-attractive employer incentives and a greater level of peer recognition. “The whole purpose of the 50-year-old program is to enable marketing, leasing, management and development professionals to attain the highest level of competency in their given fields,” she said. “When you get ICSC-certified and add that to your profile, it shows that you really care about and understand the industry.”

March 5, 2014

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Industry Infographic – March 5

Infographic_MobileThe ICSC Industry Snapshot is a bi-weekly report presented as an info-graphic; produced by ICSC’s Communications department. This dashboard presents an overview of key industry metrics in an easy to follow and visually pleasing format, so that the user can quickly navigate it and take away a high-level view of industry performance. Furthermore, the dashboard is presented in a mobile format so that the user can easily access it on their smartphone or tablet. Each installment of the snapshot features; U.S Shopping Center sales, Weekly U.S. Chain Store Sales, Shopping Center NOI by Area, the latest ICSC Shopping Center Executive Survey, CMBS Delinquency Rates, U.S. Chain-Store Sales by Segment, U.S. Shopping Center NOI by Type, U.S. Shopping Center Jobs, and other Shopping Center Facts.

February 25, 2014

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Industry Snapshot – February 25

Infographic_Mobile
The ICSC Industry Snapshot is a bi-weekly report presented as an info-graphic; produced by ICSC’s Communications department. This dashboard presents an overview of key industry metrics in an easy to follow and visually pleasing format, so that the user can quickly navigate it and take away a high-level view of industry performance. Furthermore, the dashboard is presented in a mobile format so that the user can easily access it on their smartphone or tablet. Each installment of the snapshot features; U.S Shopping Center sales, Weekly U.S. Chain Store Sales, Shopping Center NOI by Area, the latest ICSC Shopping Center Executive Survey, CMBS Delinquency Rates, U.S. Chain-Store Sales by Segment, U.S. Shopping Center NOI by Type, U.S. Shopping Center Jobs, and other Shopping Center Facts.

February 24, 2014

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It’s the Real Thing

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By: Sarah Ritchie

As part of New York’s Social Media Week, ICSC was delighted to host a gathering featuring Scott Ryan and Keith Berman from the Coca-Cola Company, who presented on “Customer Engagement in the SoLoMo Revolution.” 

The pair provided a sweeping review of advertising strategies during the Coca-Cola’s 127-year history.  With products in 207 countries (indeed, more countries than are represented in the United Nation), the multi-billion dollar company recognizes that they are largely selling “one drink at a time,” with the focus on selling an “experience” of drinking one of America’s favorite beverages.

Mobilizing Social/Local/Mobile (SoLoMo) strategies, Coca-Cola aims to tug at the heartstrings of consumers reminding them of the memorable occasions that they have enjoyed Coke—be it a family gathering, holiday celebration, or sporting event.  Likewise, the company takes great efforts to connect Coca-Cola consumers, through social media and thought-provoking campaigns.  In short, their mission is to “Bring People Together.”  The leaders at Coke recognize that “Marketers don’t control the Brand—consumers do.”

Ryan and Berman provided analysis of some of their most innovative campaigns, of late.   Recently, of course, the company stimulated a great discussion about American culture through their now-famous television ad during the Super Bowl game.   Millions watched the touching rendition of “America the Beautiful” sung by a bevy of young girls from all ethnic and cultural backgrounds—Native American, European, African-American, Latina, Asian, and Middle Eastern.  Their goal? To remind viewers that America is a tapestry of immigrants (save the Native Americans), from all parts of the globe.  To some, the commercial was controversial; to most, it was emotional and sentimental.  But one thing is clear:  the advertisement spawn analysis and commentary among traditional news outlets and throughout the world of social media.

The duo outlined another inspired campaign, harkening back to their admired campaign of the 1970’s (known in the business as the “hill top” ad—with dozens of young singers reciting the lyrics, “I’d like to buy the world a coke….”).  Through a brilliant partnership with Google, “regular people” are invited to use their smart phones to “pay it forward,” buying a coke for a random person in some particular part of the world.  The recipient is pleasantly surprised with a complimentary beverage and good wish from the gift-giver, to which they may respond with a personal greeting.  These random acts of kindness are unusually powerful, given the small monetary investment of a can or bottle of coke.  This strategy clearly embodied the words of the “hill top ad” about buying a coke for the world.

In an even more ambitious project, they used the age-old soda to draw together consumers from India and Pakistan, countries experiencing significant political tension since their post-World War II division.  My words don’t do justice to the beautiful images of folks connecting one-on-one with individuals in the other country.  Coke is literally bringing people together—directly.

As we closed the meeting, I pondered the great sweep of advertising and social media campaigns that I’ve taken in as an “average” consumer.  Quite honestly I could not think of any examples of advertising that stepped aside in the promotional process, facilitating one human being connecting with another to enjoy a popular project.  For someone, like myself, unduly influenced by the cynical portrayal of the advertising world in the TV show Mad Men, I was truly uplifted and energized by these superb efforts.  Had I not already been a huge fan of Coke before the meeting, I would have immediately headed to a vending machine to experience it for myself.

February 24, 2014

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Q&A With RECon Latin America Speaker Matthew Oster

Matthew Oster
How long have you been involved with the shopping center industry?

For the past three years, I have managed the research for Euromonitor International’s retailing coverage for a number of countries in Latin America, first for Central America, the Dominican Republic and Ecuador, and then for Colombia and Venezuela. It has been remarkable to see the dynamism of this industry throughout the region and to witness each country’s unique path to develop and modernize their retailing sectors.

What does participating in RECon Latin America 2014 mean to you?

I’m honored to be able to share my thoughts about retailing in emerging markets at this year’s RECon conference. RECon represents a unique opportunity to share Euromonitor’s global findings about the state of the retail industry and where it can go from here, but also to learn from the many interesting presenters and attendees as well. I look forward to many spirited conversations about the direction of the industry during my stay in Cartagena.

How do you picture the industry 5 years from now?

Across the board, from more developed economies to emerging markets, the retail sector will show marked changes in the next 5 years, due to macroeconomic, demographic and technological factors. In developed markets, constant improvements in mobile technology and data gathering will focus the trend towards micro-targeting and will allow for a blending of traditional retail with internet and mobile applications, to attract consumers wherever they may be. Conversely, the fall of modern superstores will continue as consumers further move to the internet or to smaller, urban locales that better fit their sensibilities.

The retail sector in emerging markets will develop even more quickly, as the pace of technological improvement will allow many countries to skip steps. Every country’s response will be different, but without a doubt, emerging markets will see an expansion of consumer credit programs, mobile retail applications and internet sales over the next 5 years.

Please tell me a Little about the session you will be hosting at RECon Latin America 2014..

Now, over 5 years after the global financial crisis, is a critical time for retail in emerging markets. Multinational and regional companies are pursuing every opportunity to expand their footprint in these fast-growing economies, and the competition for consumers’ hearts and minds will be fierce. But how will retailing look in the emerging economies? Will it develop similar to developed countries, with a natural progression from store-based retailing to internet and mobile-based functionality? Or will global economies of scale allow for emerging economies to catch up more quickly, especially as Europe and the United States continue to plod along? As usual, the answer is somewhere in the middle, as consumers the world over are increasingly demanding retail with more options, smarter services, and cheaper prices.

February 21, 2014

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Help The ICSC Foundation Reach It’s Goal!


2013 marked the ICSC Foundation’s 25th anniversary. It seemed like the perfect opportunity to embark upon our first capital campaign to grow the endowment and programs. Last May at RECon, a $5M campaign over three years was launched. We ended 2013 collecting $2.3M in payments and pledges. With things going so well the timeline was shortened to try to raise the entire $5M by the end of 2014. Beginning in 2014 you will begin to see the new programs this money is funding. Our first fundraising campaign has been a huge success so far and we thank each of you who has helped us along the way.