There was an overall sense of excitement and change in the air at this year’s RECon, the global retail real estate convention. The phenomenal speakers (great job @ICSC!) provided countless insights on a range of topics. Here are several great takeaways:
1. Relationships are an essential part of our industry. Retail CRE is based on business-to-business interactions, and it is likely that you will meet the same associates time and again. Make sure every interaction is a good one.
2. Technology is taking the CRE industry by storm. Over the last few years, there has been increased interest in how we can incorporate different technologies into our daily work.
3. Loyalty is a great quality, according to Michael Strahan, one of the keynote speakers. You should give back and be loyal to the company that gave you your chance. They picked you! Both you and your employer want loyalty and hard work.
4. “Have jobs that you love, and you won’t feel like you are working.” (More words of wisdom from Mr. Strahan!)
5. Retail is becoming omni-channel. Retailers and retail centers need to adapt and create spaces for consumers so they can see brands both online and offline.
6. Digitally native brands have shifted from becoming anti-brick and mortar to embracing it with key flagship store locations.
7. The retail apocalypse is real, and it makes for great headlines, but it is also exaggerated. Some retailers have been unable to adapt to the shift in retail. For example, Toys-R-Us and Winn-Dixie filed for bankruptcy multiple times prior to Amazon’s ascent.
8. Most spaces being built today are mixed-use, whether they are vertical, horizontal, or proximity to residential with a wrap of retail.
9. The experience sector of CRE is booming! Consumers are spending their money where they can immerse themselves in entertainment or an experience instead of on things.
10. Mash-ups and partnerships with different brands are a trend that is here to stay and expand.
What did you learn at RECon? Did any of these takeaways strike a chord with you?
Please add your comments below. We would love to hear your thoughts.
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