Jeffrey Olson on consumer behavior
From Jeffrey Olson at NYU REIT 2015 · · NYUSPS Schack Institute of Real Estate
“For the first time ever, dining out is now more popular than going to the grocery stores in terms of dollars being spent, and I see that in our shopping centers.”
On , Jeffrey Olson, Chairman & Chief Executive Officer at URBAN EDGE PROPERTIES, spoke about consumer behavior during Jeffrey Olson at NYU REIT 2015 on NYUSPS Schack Institute of Real Estate.
About Jeffrey Olson
At the NYU REIT conference in September 2015, Jeffrey Olson, Chairman and CEO of Urban Edge Properties, discussed trends in shopping center retail. He stated that, for the first time, dining out had become more popular than grocery shopping in terms of dollars spent, and said he observed this shift in his company's properties. Olson also noted that restaurants were generating higher sales volume within the same physical space, which he described as beneficial for Urban Edge. Olson further commented on the impact of technology on retail tenants. He described a visit to a theater company's "war room" where digital technology allowed centralized control of movie broadcasts, and said that technology was making retailers more efficient in many ways. He expressed the view that Urban Edge Properties would be a beneficiary of these efficiency gains over the long term.