The market has evolved. The questions are just as relevant. A Retail Retold Replay looking back at retail in 2024.

We're throwing it back to ICSC 2024 with James Cook, Americas Director of Retail Research at JLL and host of the Where We Buy podcast.

From the DLC booth in Las Vegas, James and Chris Ressa shared a quick and impactful conversation on the trends shaping retail real estate, from the continued strength of open-air centers to the challenges created by historically low vacancy. While leasing activity has slowed, Cook explains why that's more a reflection of limited supply than weakening demand, and why he remains optimistic about the health of retailers and the consumer.

The conversation also explores where artificial intelligence could have the biggest impact on the industry. As AI tools become more sophisticated, the opportunity isn't a lack of technology. It's finding ways to apply it to an industry built on private data, complex lease structures, and physical assets.

They also touch on one of retail's more unexpected growth stories: celebrity-backed restaurants. Based on JLL's research, Cook shares why these concepts have surged in recent years and what that says about today's increasingly competitive restaurant landscape.

Whether you're catching this conversation for the first time or giving it another listen, this throwback to ICSC 2024 is a fast, insightful look at the ideas that continue to shape retail real estate today.

What You’ll Hear

• Why James Cook remains optimistic about retail despite higher interest rates and economic uncertainty
• How historically low vacancy is changing the retail leasing landscape
• Why slower leasing activity doesn't necessarily signal weaker retailer demand
• Where artificial intelligence has the greatest potential in retail real estate
• The biggest challenge preventing AI from transforming the industry overnight
• Why celebrity-backed restaurant concepts have exploded in recent years
• What JLL's research reveals about the connection between branding and restaurant expansion
• How today's retail trends compare to the expectations coming out of 2024

Chapters

00:00 – Welcome to the replay

James Cook introduces his role leading retail research at JLL.

00:21 – Why James is optimistic about retail

Consumer demand and retailer expansion continue to support the market.

01:12 – The headwinds facing leasing

Lower absorption, limited vacancy, and what the numbers really mean.

01:43 – Would more available space lease quickly?

Chris and James discuss how different types of vacancies would perform.

02:19 – Can AI transform retail real estate?

The promise of artificial intelligence meets the realities of the industry.

03:36 – Why real estate is different

Physical assets, fragmented data, and why AI adoption won't be straightforward.

04:19 – The rise of celebrity-backed restaurants

James shares surprising research on one of retail's fastest-growing concepts.

05:51 – Retail, restaurants, and final thoughts

Favorite dining recommendations, industry research, and closing reflections.