With the evolution of retail shopping and new e-commerce platforms popping up every day, commercial real estate agents and investors need to be ultra-attentive to data trends as they plan for the future of retail spaces.
Fortunately, as noted in Forbes, technology is playing a big role in how data is helping shape the future of commercial real estate in this space. While seen as a disruptor to some of the more traditional methods in commercial real estate, technology also is making listings and data more accessible to all interested parties – and that should be seen as a win for everyone.
What does data mean for the future of malls?
Despite what many of the headlines are telling us, shopping malls and open-air retail spaces have continued to thrive in this new retail environment, but retail trends will always be at the whim of consumers.
Whether it is a shift in the demographics of an area, consumer behavior, or technology advancements, there are many factors that can be used to evaluate the success or failure of a retail space and of shopping malls in particular. Measuring and tracking market changes with real-time data is the best way for commercial real estate agents to have a leg up when it comes to identifying property trends.
How to Zero In on Retail
Knowing your demographic is one piece of the retail puzzle, but as CRE professionals, you know there are so many more data points riding on a single decision. With our robust tools and technology, you’re able to stay informed and feel confident knowing you have the latest information to make the sale. Get in touch with us today to learn what we can do for you.