June 21, 2016
Partner Ron Friedman was quoted by the Los Angeles Times in a story about trends in retail malls to meet the demands of today's online-savvy shoppers.
By Hugo Martin
Hoping to draw big spenders and compete with high-end malls, Universal Studios has announced plans for the first major face-lift of its shopping and dining district in more than 15 years
The focus of the overhaul at CityWalk is to cut back on the low-priced souvenir shops that appeal to tourists and instead add more high-end retail outlets and restaurants that will draw well-heeled locals and millennials as well as upper-income tourists.
Ron Friedman, a retail expert at consulting and accounting firm Marcum, agreed, saying that traditional malls are dying because more young people shop online. Today, locals and tourists are looking for a central place to congregate with good restaurants and cafes.
"More restaurants, more places for people to drop in and schmooze and enjoy themselves, that's the future," Friedman said.