Core Insights - The retail real estate industry is facing challenges such as inflation, regulatory issues, and high interest rates affecting construction loans, which can range from 6% to over 10% [1][4] - AI is increasingly being utilized across various sectors to enhance efficiency and streamline processes, with significant implications for decision-making in business [2] - The ICSC New York convention is a key event for industry stakeholders, focusing on consumer behavior, retail strategies, and potential partnerships for 2026 [2][3] Market Conditions - There is a lack of new construction in the retail sector due to high borrowing costs and inflation, leading to a focus on redevelopment instead [4] - High occupancy rates are reported, with significant demand for retail spaces despite closures of major retailers like Bed Bath & Beyond and Joann [4] - The Sun Belt region, particularly cities like Nashville, Orlando, and Atlanta, is experiencing economic growth and high demand for retail space, contrasting with high vacancy rates in cities like San Francisco and Portland [5] Consumer Behavior - Consumers are currently price-conscious, favoring off-price retailers and seeking deals, which is reflected in the success of discount stores [8] - During the Thanksgiving to Cyber Monday shopping period, 77% of U.S. adults shopped, with significant participation from Millennials and Gen Z [11] - In-store shopping remains popular, with 84% of shoppers engaging in in-store or for in-store pickup shopping, marking a 6 percentage point increase from the previous year [11] Industry Events - The ICSC New York event attracts around 8,000 attendees, while the larger ICSC Las Vegas event is expected to draw 25,000 participants, highlighting the significance of these gatherings for networking and industry insights [9] - The mood at ICSC New York is optimistic, driven by resilient consumer behavior during the holiday shopping season [9]