Shoppers wear protective masks inside the Glendale Galleria shopping mall in Glendale, California, on Thursday, May 6, 2021.
Bing Guan | Bloomberg | Getty Images
The biggest global trade association for the retail real estate industry is rebranding to update its image amid massive changes in the way people shop.
The International Council of Shopping Centers announced Monday its initials ICSC will now stand for Innovating Commerce Serving Communities. ICSC said the changes have been about nine months in the making.
The 65-year-old trade group said the shift is indicative of how ICSC, its members — which include U.S. mall and shopping center owners — and the entire retail real estate industry are rapidly evolving, in part due to repercussions of the coronavirus pandemic.
“The terminology ‘shopping centers’ or ‘retail real estate’ are still clearly an important part of our membership,” ICSC President and CEO Tom McGee said in an…