Trends In Retail And Mixed-Use In LA
Technology is having a big impact on retail.
This week's Cyber Monday marked another online sales record with $3.45B in sales, posting sales 12% higher than last year.
DLR Group global retail design leader Brian Arial (third from left) said at the Bisnow Annual Retail and Mixed-Use Forum that tech is changing the way people shop.
Other panelists included Allen Matkins partner Peter Roth, Wilson Meany director of development/retail Greg Whitney, Seritage SVP Kacy Keys, CBRE EVP Richard Rizika and Arc Capital Partners managing partner Quincy Allen.
While many people are shopping online these days, retail can still drive residential when it comes to mixed-use projects. Quincy (left) said developers are getting smarter about this fact.
For its projects, Arc Capital Partners looks for high-density areas like Koreatown, he said.
Richard (right) said there is tremendous demand in urban mixed-use.
Strategic Real Estate consultant Steve Birkhold spoke of the obstacles for retail since, "in this challenging environment," traffic is down.
Steve, the former CEO of Bebe Stores, Diesel and Lacoste, advises brands to focus where consumers are shopping today.
Most brands probably have "way too many stores," he said. Macy's is closing 100 of its stores nationwide.
Steve said landlords and retailers are in the same position where they want to drive more traffic and be more productive.
As a result, "we're seeing collaboration" between landlords and brands where they have a vested interest in delivering more sales, according to Steve.
Steve, who was interviewed during his keynote by Arent Fox partner Tony Lupo (left), spent more than 30 years working in fashion.
He said a big issue as a CEO was that point-of-sale, or POS, systems in stores were not necessarily connecting with e-commerce divisions.
Now Steve is seeing more brands incorporating the tech side.
