nick a. egelanian - vbgov.com
TRANSCRIPT
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Nick A. EgelanianPresident:
August 14, 2018
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RETAIL in A Post-Department Era MAR 2017
DEPARTMENT STORE CLOSURES
MALL FAILURES
AMAZON/ Whole Foods!!!
E-COMMERCE
ENTERTAINMENT RETAIL
RESTAURANT PROLIFERATION
OUTLET EXPANSION DECLINING
FOOT TRAFFIC
FACTORY STORESIN FULL PRICE CENTERS
WEALTH GAP
RETAIL APOCALYPSE
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RETAIL in A Post-Department Era MAR 2017
STRATEGIC RETAIL
FRAMEWORK
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RETAIL in A Post-Department Era MAR 2017
A. 20th CENTURY U.S.
RETAIL EVOLUTIONFrom Downtown Shopping
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RETAIL in A Post-Department Era MAR 2017
Killed by…
To The Department Store Era
And 3,000 American Regional Malls
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RETAIL in A Post-Department Era MAR 2017
Department Store
Deconstruction And “Big Box” Retail
COMMODITY RETAIL
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RETAIL in A Post-Department Era MAR 2017
The Result: Market Share “Big Box”
Retailers Vs. Department Stores
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RETAIL in A Post-Department Era MAR 2017
Commodity Retailers Vs.
Department Store Market Cap ($B)
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RETAIL in A Post-Department Era MAR 2017
B. 21st CENTURY
U.S. RETAIL ALIGNMENT
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RETAIL in A Post-Department Era MAR 2017
21st Century Retail Alignment
Two SEPARATE Retail Industries
85% 15%SPECIALTY
RETAIL
PRIMARYHH INCOME AND PURCHASES
DISCRETIONARYTIME AND PURCHASES
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RETAIL in A Post-Department Era MAR 2017
Highest priceMost convenient
lowest priceleast convenient
DRUG stores
grocery stores
DiscountStores
Categorykillers
Warehousestores
Conveniencestores
E-tail
E-tail E-tail
COMMODITY RETAIL: PRICE/ CONVENIENCE EQUATION
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RETAIL in A Post-Department Era MAR 2017
EMOTIONALATTACHMENT
DISCRETIONARY TIMEDISCRETIONARY INCOME
Best-in-classshops
Authentic textured places
SPECIALTY RETAIL:EMOTIONAL CONNECTION
PRODUCT PLACE
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RETAIL in A Post-Department Era MAR 2017
TRADITIONAL MALLS OUTLET CENTERSTHEMED CENTERS &
ATTRACTIONS
MIXED-USE &OPEN-AIR CENTERS
HIGH STREETS
SPECIALTY RETAIL FORMATS
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RETAIL in A Post-Department Era MAR 2017
As of 3rd Quarter 2017 – 9.1%
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RETAIL in A Post-Department Era MAR 2017
RETAIL SALES DISTRIBUTION ( Part 3 )2015 Pure –Play online retailer sales
and percent of total Pure-Play E-Commerce sales
Source: national retail federation top 100 retailers chart, 2015, euromonitor
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RETAIL in A Post-Department Era MAR 2017
OUR FINDINGS
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RETAIL in A Post-Department Era MAR 2017
THE WAVE: OUR FINDINGS
1. TRANSORMATIVE MIXED USE PROJECT
2. UNIQUE SPECIALTY RETAIL AND ATTRACTIONS
4. BRIDGE FROM THE RESORT DISTRICT TO THE CONVENTION CENTER, THE VIBE & THE ARTS DISTRICT
3. NET GENERATOR Of NEW MARKET DEMAND
5. NO NET DISPLACEMENT
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Nick A. EgelanianPresident:
Q&A