Traditional retail-led environments must embrace a new Revolution of Purpose, but the ultimate objective remains the same: To foster value and captivate stakeholders, be they customers, communities, tenants, employees or investors.
Pursuing differentiation strategies to cure the ‘curse of clones’ remains as valid as ever. However, the brutal realities of current events and the last few years will accelerate the fundamental transformation of retail properties from product-led channels distributing merchandise to occasion-led multi-purpose platforms.
Platform retailing is about breaking down every conceivable omnichannel barrier and attracting consumer spend and loyalty in a myriad of new ways and means. Brick & mortar premises will thus morph into primary showcases for experiencing a brand’s physical and digital universe at its best. A Revolution of Purpose indeed.
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