October 7, 2016
Though negative headlines abound concerning retail store closings, four panelists at the International Conference of Shopping Center’s (ICSC) Texas “Conference and Deal Making Event” have been doing quite well. During the ICSC conference’s “Developer Showcase” session on Oct. 6 in Dallas, the panelists shared their experiences and advice concerning successful retail.
The two main words coming out of the session were innovation and passion. As an example, Randy DeWitt, with the Front Burner Restaurant Group, is hard at work at the Legacy West Food Hall, a food hall concept that will be part of the massive Legacy West mixed-use development in West Plano, TX. Food Halls are common in Europe, through fairly new in the United States. “It’s something new, and a little different,” DeWitt said. “We’re excited about this.”
Meanwhile, Studio Movie Grill’s Brian Schultz pointed out that innovation and passion have always been at the forefront of his company’s efforts. The concept of full-scale dining while watching a film in a movie theater was new at the time he launched his first theater/restaurant. These days, “whether it’s a bar inside, reclining seats, or anything else, we’re trying to think differently,” he said.
The panelists pointed out that community partnerships are also extremely important for success. Stephen Jones with the Dallas Cowboys cited the huge, mixed-use Frisco Star as a good example of a community-private partnership. Everyone in Frisco, TX, from the economic development department, to city hall, to the community itself, “helped us get our arms around the concept, and have been extremely passionate about this going forward,” Jones said.
At the conference conclusion, moderator David Schnitzer with Venture Commercial asked about the next disrupter in retail. DeWitt’s belief is that food halls will be the next one. Jones, on the other hand, said the next disruptor was nothing. In other words, retailers and restauranteurs not doing anything to keep up with what consumers are looking for.
For comments, questions or concerns, please contact Amy Sorter