After a two-year, pandemic-enforced break (and six years away from San Diego), the CBM1 team returned to the ICSC Western Conference.
In the meantime, a lot has changed. The world weathered a global pandemic. Workplaces have totally reshuffled. Demographics have shifted (several times) with exoduses out of and back into urban centers. And commerce, particularly retail, has been completely reimagined.
Not to mention, ICSC — formerly the International Council of Shopping Centers — changed its name. Meet the new Innovating Commerce Serving Communities.
It’s also significant that CBM1, once a retail property management and leasing firm previously known as Centers Business Management, reorganized and relaunched under new leadership amid the pandemic. With the new CBM1 now focusing exclusively and commercial leasing and investment sales.
And it was this revamped unit that gathered at this year’s ICSC Western Conference.
The Takeaway?
The usual suspects were in attendance. The development firms. The big brokerages. The, mid-sized regional brokerages. The vendors. The municipalities. And of course, the tenants.*
What was conspicuously absent, however, was the energy that typically courses through the show. The lack of excitement and engagement in the proceedings was clearly, and painfully evident.
A key contributing factor to the flagging activity was likely lower attendance. While past, pre-pandemic shows crested close to 5,000 attendees, this Western Conference counted only 2,600 total registrants. And…
Fewer people = Less Interest = A Less Than Captivating Event.
Could The Relocation Help?
After three years in Los Angeles and a year off during the pandemic, the event returned to San Diego in 2021. Last year’s conference was understandably under-attended, given lingering pandemic concerns.
The initial move to Los Angeles was apparently financially motivated. The folks at the LA Convention Center cut ICSC a better deal. But a return to San Diego was prompted by waning attendee interest.
With the majority of conference participants hailing from Los Angeles County, enthusiasm for dropping $500 on a ticket to spend a day in their own proverbial backyard grew dangerously low.
Conversely, spending a night or two in San Diego certainly makes the outing feel like more of a happening worth stepping out for.
But is that enough incentive to show up for the conference? If this year is any indicator — understanding that the pandemic hangover may still be a nagging issue — probably not.
The Future of ICSC Live Events?
Our team agreed that in its current format, interest in the Western Conference is dying out. And this likely applies to all ICSC shows.
Event organizers need to revamp and revitalize ICSC shows to increase enthusiasm for attendance and generate more energy and excitement amid the actual shows.
Certainly easier said than done. But a necessity nonetheless if ICSC hopes to retain its position as the retail real estate industry’s leading professional organization.
Regardless, CBM1 Made a GREAT Showing!
Our booth, as the pix demonstrate, looked awesome. Most of our leasing team was on hand to see and be seen, take meetings, and generally soak up the industry influences.
And it was great fun catching up with old friends — Shout out to former CBMer, Michael Pakravan.
*One of the main reasons many brokers attend ICSC events is to connect with tenants. In some cases, they’re looking to pitch sites or seek clarification on site criteria, and in other circumstances, they’re aiming to build relationships. But that requires tenants to actually attend the shows and be engaged in the proceedings. Meanwhile, at this Western Conference, it was clearly evident that fewer tenants were in attendance. And those present were mostly phoning it in. All of which needs to change if ICSC hopes to sustain broker interest.