Never has the “real” in real estate held so much potential than today as customers tethered to their tech devices crave the satisfaction gained from authentic human connection, social experiences and physical places.
Retail has moved to change the rules that defined it for a century, and its role in real estate is also being reinvented. With technology – the very thing challenging retail – it is vital to keep momentum and make the positive change to cement its future existence.
Revolution demands that we get real. This does not mean going back to a simpler time or doing a digital detox. The solution is more complex. Ironically, it is tech and specifically social media that are partly driving the experience economy, where a product is the memento of the leisure travel or food moment shared.
To navigate these uncharted waters, it is more important than ever to measure real activities and operations as accurately as you can. If you cannot clearly understand everything from your front lines, you cannot effectively manage retail assets.