ICSC Opens With Less Angst, But There are Still Worries
The International Council of Shopping Centers conference at Manhattan’s Jacob K. Javits Convention Center has historically been populated by retailers and those who want to do business with them. In the last few years, the ranks of the first group has decreased or shifted to the Internet, while the second has ballooned with companies offering technology for detecting fraud, boosting productivity, providing better-fitting apparel and delivering groceries directly to customers’ refrigerators, among many other things — including IoT-based solutions for high asking rents. New direct-to-consumer brands are steeped in technology, and they’re taking no prisoners. “In fashion, everyone’s talking about change and modernity and technology,” said Leslie Vorhees Means, cofounder of Anomalie, a bridal site. “Bridal boutiques lack of accessibility in terms of inventory, design and sizing, and have super-high markups for what should be an exciting and a happy experience. We hear over and over again the frustration brides are facing. We’re trying to attack those pain points and frustrations. The key point of direct-to-consumer disruption is to provide value.” Gen Z and Millennials are loathe to settle. If a product or service doesn’t meet their criteria, it’s sworn off. That puts pressure on physical retailers, yet 58 percent of both
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