Retail Space is up for Grabs: Why the Physical Future Will be Data-Driven
Once a sign of a prosperous community, many of today’s malls face strong economic headwinds. But that doesn’t mean the mall will be relegated to the history books. In fact, there may be a new chapter in the mall’s story. As The Wall Street Journal recently reported, a diverse group of players are investing in retail locations, or buying retailers outright, because they see an opportunity to shape the future of brick and mortar. But who will win that future?
Unlike in years past, where investors often banked on the cyclical nature of real estate, the winners this time around will be firms that understand how to leverage data to better analyze the connection between geography and consumer behavior. Yes, location still matters, but just as important is what you know about that location and the people who are likely to frequent it.
To read more from UberMedia CBDO Eric Aledort, please visit The Drum.