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Optimistic Outlook During Extended Holiday Shopping Season


November 25, 2020     4 minute read

ICSC President and CEO Tom McGee, TD Bank Head of Consumer Products Matt Boss and NEST CEO Rob Almond provide insight on the state of the retail industry

(PHILADELPHIA – Nov. 24, 2020) Retail and banking industry leaders came together during The Rollout Event, hosted virtually by RetailSpaces.  The panel included Tom McGee, President and CEO of ICSC, Matt Boss, Head of Consumer Products at TD Bank, and Rob Almond, CEO of NEST, the leading integrated facilities management firm.

Despite the pandemic, McGee, Boss and Almond provided an optimistic outlook for the retail industry due to retailers’ ability to be flexible, pent-up customer demand and consumer’s available liquidity.

“ICSC is forecasting a solid holiday season with 1.9% growth year-over-year,” said McGee.  “This holiday season will be longer for a variety of reasons, including retailers encouraging shoppers to get out earlier.  As a result, you’ll see a continuation of the trends that have accelerated over the course of the last number of the months due to the pandemic.”

“NEST’s retail clients are telling us they have received more foot traffic than they expected during the pandemic,” said Almond.  “People want to get back out and shop.  That made us feel good, knowing that once people feel safe, customers are going to walk back into the stores.”

“One thing we’ve seen (at TD Bank) is that loyalty really matters,” said Boss.  “With specific retailers, a disproportionate amount of their business has come from what we consider loyal customers.  We’ve seen some of that physical spend come back and there are reasons for optimism.”

About NEST

NEST is the pioneer of the Integrated Facilities Management (IFM) industry in the United States and Canada since 1994.  NEST’s Integrated Facilities Management solution pairs financial acumen and business analytics with a strategic consultative approach. Real-time data, reporting and analytics technology empowers business leaders and facility management teams with the informed insights that enable them to make smarter decisions. To learn more about NEST, visit enterNEST.com or follow NEST on LinkedIn.

About ICSC

ICSC is the preeminent membership organization serving retail and real estate professionals. Our members believe ICSC’s unparalleled programs and services are the most efficient and effective way to develop relationships, facilitate transactions, share insights and shape public policy and perception. For more information about ICSC, visit www.icsc.com.

About TD Bank, America’s Most Convenient Bank®

TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 9.5 million customers with a full range of retail, small business and commercial banking products and services at more than 1,220 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US and www.twitter.com/TDNews_US.

TD Bank, America’s Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol “TD”. To learn more, visit www.td.com/us.

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