Day Three Panel Recap: National Retail Outlook – Executive Perspectives

Retail is evolving fast, and the forces shaping its future go far beyond what happens at the register. 

During the National Retail Outlook, industry leaders Mike Dilley, CCIM, Sr. Director, Existing Restaurants Real Estate, Chick-fil-A, Inc, Kendra Doyel, President, Ralphs Grocery Company, and Brandi Norwood, VP of Retail Leasing, Lewis Retail Centers, pulled back the curtain on what’s influencing retail real estate right now, from rising operating costs and shifting consumer expectations to regulation, security, AI and changing store strategies. 

For commercial real estate professionals, the message was clear: understanding the retailer’s challenges can help you better understand the real estate opportunity. 

Retail Is Local, Even at a National Scale 

One of the biggest themes? What happens locally can have a major impact on a national portfolio. 

The panel explored how regulations, packaging fees, minimum wage requirements, theft and security concerns can quickly affect operating costs and real estate decisions. For owners, investors and advisors, knowing the market increasingly means understanding the policies and operating realities affecting the tenants inside it. 

The conversation also highlighted the continued strength of grocery-anchored shopping centers, where everyday consumer needs can provide resilience through changing economic conditions. 

Follow the Consumer 

Retailers are constantly adapting to how, where, and why customers shop. From evolving store formats and co-tenancy strategies to changing community needs, the panel emphasized the value of listening to the customer and using data to make smarter real estate decisions. 

“At the end of the day, really, when we are just maniacal about listening to our customer and what they tell us every single day. They're going to tell me something different in the store that I run in Malibu than the one I run in Riverside, right? And how do I get hyper local to be able to have the buying power and ... really help to deliver what this community on this street needs every single day because it's different store by store.” 

Kendra Doyel, President, Ralphs Grocery Company 

AI is becoming part of that equation, helping organizations analyze portfolios, streamline repetitive work, and uncover insights faster, but the goal isn’t technology for technology’s sake. It’s using better information to make better decisions, while preserving the human experience that keeps customers coming back. 

The CRE Takeaway 

For commercial real estate professionals, retail opportunity increasingly lives at the intersection of location, consumer behavior, operating realities, data and adaptability. 

Know what’s affecting the tenant. Know what’s changing the consumer. Know what makes a location continue to perform. The strongest retail strategy isn’t simply about predicting what comes next; it’s more about recognizing the signals early enough to act on them. 

And for those who were in the room, the National Retail Outlook also offered a firsthand look at those signals from the leaders navigating them every day. That’s the kind of perspective that makes being at the 2026 Fall Forum different from simply reading about it afterward.