ICSC: From Vegas to Main Street
The butterfly effect. The theory is that when one thing happens somewhere, it could have a massive impact somewhere else. So what does that have to do with Downtown Hackensack? One word. ICSC (International Council of Shopping Centers). From May 22-24, the Las Vegas Convention Center will be playing host to their 2022 event. Entrepreneurs. Retail industry experts. Influencers and brokers will gather together to discuss the new innovations and evolutions taking place in this ever-changing industry—pontificating how consumers shop, dine and are entertained in the future. With the U.S. Census Bureau reporting a rise in new business applications in this pandemic era, it’s no surprise that ICSC will have its share of multi-million-dollar developers ready to hit the ground running to launch the next big retail thing. And it’s not just about developing what will click with consumers but finding market locations that aren’t completely saturated. Up and coming cities with the right infrastructure and a rising population— qualifications that Downtown Hackensack fits the bill. With the launch of our 2-way Main Street, retail foot traffic has seen a dramatic increase—not to mention the fact that 3,500 plus luxury residential units are either for rent or under construction. ICSC’s recent consumer behavior survey results could also mean an array of retail options for Downtown Hackensack.
- 65% of consumers are shopping in physical stores for non-essential goods.
- 54% of consumers are dining indoors at a restaurant, bar, or other eating establishment.
- 48% of consumers are shopping in malls.
While we are still navigating through these uncertain times, these numbers are promising for future retail development. For The SACK Business Alliance, the mission is clear. To help these brokers and entrepreneurs truly understand the benefits of establishing retail roots in a city experiencing a massive resurgence like Main Street and getting them to see what’s up with our downtown. Stay tuned.