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JLL retail experts say retailers and entertainment venues are focusing on regional expansion to prove the success of unique concepts and attract consumers.
LAS VEGAS – Naveen Jaggi, president of Jones Lang LaSalle Retail Consulting Services, says entertainment concepts that combine food and drink will continue to be a significant trend in retail going forward. At a breakfast meeting during ICSC Las Vegas, he highlighted the importance of these concepts in the industry over the next decade, emphasizing their scalability.
Jaggi also discusses preferred locations for retailers and entertainment concepts, noting that they want to minimize risk. Instead of launching in multiple cities initially, they focused their efforts on specific regions, opening several locations to prove the success of their concept.
In terms of consumer preferences, Jaggi emphasized the importance of providing a unique experience. Landlords work hard to keep things fresh and deliver those experiences to their customers, he said.
Jaggi also mentioned the rise of competing social concepts around specific games, as well as food service. For example, Puttshack combines technology-enabled mini golf with food service, ensuring continued engagement and a desire to relive the experience.
Stay tuned to GlobeSt.com for more coverage of ICSC’s Las Vegas event, including exclusive insights from attendees.
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