WHY SHOPPING CENTERS ARE A GREAT PLACE FOR ALL THINGS HOLIDAY
All the buzz about the online shopping misses one big fact: 93% of sales are taking place in a physical store. Why? Consumers like the social experience and convenience of getting their goods, services and entertainment in one place, making shopping centers an attractive destination.
At the same time, malls are not what they once were and are becoming better. Malls still typically have big chain retailers, but they are also hosting local businesses, who cater to people’s needs for entertainment and services. That’s why you’ll find more restaurants, movies, kid-friendly entertainment, along with health care, educational and travel services at the mall. The proof: one in every 11 U.S. jobs is shopping center-related.
Tom McGee discusses:
- Holiday shopping trends at brick-and-mortar stores and online retailers
- How malls continue to draw shoppers, by offering one location to meet the whole family’s needs for goods, services and entertainment
- Why the social experience and lifestyle of shopping malls remain so popular
- Shopping centers offer convenience for consumers with options for every part of their lives
About Tom McGee: Thomas (Tom) McGee is the President and Chief Executive Officer of the International Council of Shopping Centers (ICSC). He was elected to the position of President and CEO on September 21, 2015, becoming only the fourth CEO in the association’s almost sixty-year history.
As CEO, his main focus is the advancement of the shopping center industry for the benefit of ICSC members world-wide. McGee believes that retail real estate is an industry central to economic development and opportunity and that shopping centers and the people that work in all aspects of the industry are a critical component of the social fabric of, and an economic engine for, the communities they serve.
Prior to joining ICSC, McGee served as Vice Chairman of Deloitte, LLP, one of the world’s largest professional services organizations with more than 200,000 professionals in member firms in over 150 countries. During his 26 years with Deloitte, he held major global and U.S. leadership roles in addition to Vice Chairman, including, Deputy CEO, National Managing Partner of M&A Services and Global Chief of Staff. He was also a member of Deloitte’s Global and US Executive and Operational Leadership Committees.
A noted business speaker, McGee also has significant media experience, with appearances on CNBC, Bloomberg and Fox Business and is frequently quoted in national media outlets including The Wall Street Journal, USA Today and CFO Magazine.
He is also active in numerous civic, charitable, and academic organizations. He is the incoming Chairman of Covenant House International, and member of the New York Catholic Foundation Board, as well as the Finance Council of the Archdiocese of New York and the Board of Regents of Loyola Marymount University, his alma mater.
Interview provided by International Council of Shopping Centers
