Whether developing a new retail property or maximizing the potential of an existing one, the formula for success is far more complex than it was 20 years ago, or even five years ago. In part, there is greater risk due to a number of factors including diminishing bricks and mortar demand; "underdemolished" supply; and a shrinking pool of leasing prospects. Many of the nation's leading retailers are expanding more selectively, and shifting to alternative distribution channels including e-commerce and global markets outside the U.S. And these are only a few of the changes that will greatly impact shopping centers and other types of retail development in the years to come.

Though there will continue to be many places for people to shop outside the home, the options will differ from today. Market-dominant malls and grocery-anchored neighborhood strips will continue as major players; however, these will evolve in form and content as consumer generations pass one to another (witness Gen Y which is technology savvy and reliant). Outlet shopping is increasing in popularity, and town centers, mixed use developments and other center types are emerging alternatives. Non-retail uses will need to occupy a larger part of future "retail" developments.

Let Alexander Babbage's years of experience, insightful analysis and state-of-the-art research capability help you build and maintain a retail destination that will prosper now and into the future.

* Chairman's Report, ICSC 2010 Annual Report