South Florida Business Journal Gathers Experts to Discuss Future of Retail
The future of retail in an Amazon-dominated, e-commerce-focused landscape is top of mind for consumers and industry professionals. Art Falcone joined several real estate leaders to discuss retail’s evolution at the South Florida Business Journal’s “Breaking Ground with Brian Bandell” event on Tuesday, November 14.
Retail is a major component of two current projects in South Florida, Miami Worldcenter and Plantation Walk. Both developments are mixed-use with residential, professional, entertainment and hospitality elements. Falcone told the Business Journal audience that similar self-contained projects will be the “most resilient” in preserving the value of the retail components.
Other insights about the retail industry during the discussion included:
- Encore Capital Management's emphasis on technology and data collection for its retail properties across the nation. Miami Worldcenter will have an app for visitors to optimize their experience and provide much-needed data on where shoppers are going and what they purchase.
- The tax reform proposal to eliminate deductions for state and local taxes being a potential boom for Florida by driving even more people from tax-heavy states to relocate there.
- Embracing food delivery services but noting that UberEATS is prohibitively expensive with a 30 percent charge levied on participating restaurants.
To learn more about the Business Journal event, read Bandell’s detailed recap.