Inventing new experiences to engage and excite
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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For us, ‘reviving retail-led destinations’ tackles many granular and tactical challenges, but more importantly, also deals with the ‘bigger picture’ issues which are essential to any future-proofing efforts.
This includes searching questions like:
- What business are we really in?
- Are we prepared to change from traditional Landlords to being more proactive in the curation of blended-use environments? And what will that entail for the managerial skill mix?
- Which asset classes will be the strategic cornerstones in the years ahead?
- If the new KPI is an 18-hour experience program, how must we adapt our F&B and L&E strategies?
- How will we master the ‘fast’ and the ‘slow’ of tomorrow’s retailing?
- Is the quality of our digital infrastructure up to scratch? Not just for attracting demanding tenants, but for our own operational efficacy?
