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ICSC NYC: Navigating Retail's Future Amidst Rising Costs
11 Dec
Summary
- Thousands gather for the ICSC New York convention this week.
- AI is streamlining internal processes and aiding decision-making.
- Concerns linger over inflation, interest rates, and construction costs.
The ICSC New York convention brings together thousands of industry professionals in Manhattan this week. Attendees are focused on closing deals for the year, establishing partnerships for 2026, and exploring innovative ways to redevelop existing retail spaces to align with evolving consumer demands.
Educational sessions delve into crucial topics such as consumer behavior, the future of retail, and investment strategies, with Artificial Intelligence being a central theme. AI is already being utilized to enhance internal operations across various departments, from HR to legal, by processing vast amounts of data for quicker, informed business decisions.
Despite technological advancements, significant industry concerns persist. Professionals are actively discussing the impact of inflation, regulatory challenges, escalating costs of goods, and tariffs. Interest rates on construction loans, which range from 6 to over 10 percent, also pose a considerable challenge to the sector's growth and development.
