More than 2,000 local retailers, developers and franchisees gathered at the Gaylord National last week to discuss the changing retail industry as part of the International Council of Shopping Centers’ annual Mid-Atlantic Conference. Here are five trends to watch in the coming year.
1.Outlet malls
Outlet malls have expanded rapidly in recent years, making them the fastest-growing segment in retail, and that’s not about to change, according to Jay Klug, principal of the JBG Cos., a Chevy Chase-based real estate developer.
“Outlets clearly are the darlings of retail right now,” Klug said.
There are currently more than 225 outlet centers in the United States, with at least 40 new openings since 2006, according to ICSC.
Long built on the outskirts of town, outlet centers are moving closer to major cities.
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Source: Abha Bhattarai (www.washingtonpost.com)
