Jun 2026
Retail Continues to Evolve as Centers Add More Services, Food, and Experiences
The strongest retail properties are no longer defined only by what they sell, but by how well they serve daily needs, attract visits, and create reasons for people to stay longer.
Retail’s resilience continues to stand out in 2026, but the sector’s current strength is driven by a different mix of tenants than in prior cycles. ICSC’s latest Industry Benchmark study shows that retail sales excluding gas, automotive, and food-and-beverage services rose 5.0% in April 2026 versus April 2025, while shopping center space continues to shift away from traditional retail toward food and other services. ICSC also reported 187 announced restaurant openings in April, bringing the year-to-date total to 1,430 openings, compared with 870 announced closings.
At the same time, experiential and nontraditional users are playing a growing role in how centers absorb space. ICSC reported in May that roughly 16.5 million square feet of location-based entertainment concepts are planned across the United States and Canada, and that entertainment and healthcare users are increasingly taking over second-generation space, former anchors, and large-box vacancies. For owners and investors, retail’s next growth phase appears to be rooted in curation and adaptability—not simply foot traffic alone.
Source / Read more: ICSC – Industry Benchmark Report
Additional context: ICSC – Experiential Retail Expands as Tight Supply and Investor Demand Shape the Market
