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3 Things To Do At ICSC RECon
This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
QuantumListing will be exhibiting at Booth S246 S Street in the South Hall at ICSC RECon 2018 and we’d love the opportunity to meet with you there. Call 914-470-5719 to schedule an appointment with David or send an email to [email protected].
We’ll also be co-hosting two great events during RECon. On Sunday May 20th, join the #LetsGetSocial18 Meet Up from 5:00pm to 7:00 pm at the Aria Sports Bar. If you register by clicking HERE we’ll have a name badge waiting for you. Owners, brokers, developers and more from all over the country will be on hand for this fun and relaxed kick off to RECon. Walk ins are welcome but if you let us know you’ll be there we’ll have a name badge ready and waiting for you.
On Wednesday, May 23rd, from 9:00 to 1:00 we’ll be hosting the #LetsGetSmart Speaker Series at our booth, S246 S Street in the South Hall. We’ve lined up an incredible array of speakers from all over the country. Read all about it HERE. They are guaranteed to make Wednesday at RECon interesting and informative.��If you attend #LetsGetSmart, you won’t be looking at your watch waiting for RECon to end. You can register HERE, but walk ins are welcome. You don’t need to be on hand for the whole event. Come and go as your schedule permits, but be sure to be on hand when the In-N-Out burgers arrive!
David Perlmutter – 914-470-5719 [email protected] Watch this 3 minute video on YouTube to get a quick overview of many of our features. Click to schedule a demo Already a member? Earn extra free months when you refer a colleague Not a QuantumListing Member yet? Join now!
RSS Feed provided by theBrokerList Blog - Are you on theBrokerList for commercial real estate (cre)? and 3 Things To Do At ICSC RECon was written by David Perlmutter.
3 Things To Do At ICSC RECon published first on https://greatlivinghomespage.tumblr.com/
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The Best QuantumListing Articles of 2018
This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
Check out some of the highlights from the QuantumListing blog in 2018!
2018 has been a busy year at QuantumListing with lots of new members, features, and partnerships with the other players in CRE tech to make sure your user experience keeps improving. We’ve also kept busy posting content on the blog to document all these big developments
Take a look below at some of the QuantumListing team’s favorite blog articles of 2018 and see what QuantumListing has been up to this year.
From Seinfeld to QuantumListing, the Power of Syndication: We take a look at syndication, how it’s still used to make hundreds of millions of dollars for Jerry Seinfeld and Larry David in the 20 years since Seinfeld has been off the air, and how it’s being used by QuantumListing to make posting listings easier than ever. You can also read more about our specific syndication partnerships with Buildout, SharpLaunch, and LDCRE.
Meet the Quantum Listers: Over the past few months, we’ve been running an interview series with some of our most active users, the Quantum Listers. We asked them about how they get their deals, their opinions about the CRE industry, and what they love about QuantumListing. Does becoming a Quantum Lister interest you? Then fill out this questionnaire, and we can get you on your way to being our next Quantum Lister.
Socializing Commercial Real Estate: This article takes a look at how the brokers can harness the power of social media to get more exposure, build their brand, and land more deals. QuantumListing makes sharing a listing or a listing report as easy as clicking a button. Find out all about it in the article!
What do The Telephone, Etsy, Real Estate Conventions, and QuantumListing All Have in Common?: And the answer is….drumroll please…network effects! A network effect is the concept that as more people join a network, like Facebook or QuantumListing, the more powerful the network becomes. The more users that join QuantumListing, the more useful it becomes, giving you more connections to other users and—most importantly—getting you more deals. QuantumListing created its Networks feature to supercharge these network effects. Check the article out to learn about network effects, one of the most important concepts of our modern, hyper-connected era, and how QuantumListing Networks use them.
Meet the QuantumListing Tribe: Our user base is made up of all kinds of different people with their own style for using QuantumListing. Together, they make up the QuantumListing tribe. Check out this article to see different types of users in the QuantumListing tribe, like Navigators, Hunters, Gatherers, and Chieftains. What type of tribe member are you?
#LetsGetSmart Keeps Getting Smarter: For the third year running, QuantumListing has hosted the #LetsGetSmart speaker series at RECon in Las Vegas. During the series, some of the leading innovators in retail, real estate, and tech spoke about topics such as mCart, a blockchain-based retail platform, Walc, a GPS app built specifically for pedestrians, and Digsy.ai, a commercial real estate CRM that’s supercharged with AI. To learn about these disruptive ideas and more, check out the above link which has a list of all the presentations from #LetsGetSmart18.
QuantumListing’s Homecoming: Earlier this year, QuantumListing released its iOS app. This article takes a look at QuantumListings beginnings on mobile, its evolution to a web-based platform, and its recent return to the app store. Now you get the best of both: the mobile app and the desktop version!
Status Quo, Avant Garde, or Both?: This article takes a look at how QuantumListing is disrupting the commercial real estate business, and why you should be using the platform if you’re not already. For too long CRE has accepted a status quo in which you have to pay too much for lacking services from other services. QuantumListing, with its free listing viewing and reasonable prices, is bringing this era to an end.
We take great pride in our blog at QuantumListing, bringing you quality, useful content in addition to the quality, useful services provided by our platform.
We look forward to continuing keeping you updated on everything CRE and QuantumListing on our blog in 2019!
RSS Feed provided by theBrokerList Blog - Are you on theBrokerList for commercial real estate (cre)? and The Best QuantumListing Articles of 2018 was written by David Perlmutter.
The Best QuantumListing Articles of 2018 published first on https://greatlivinghomespage.tumblr.com/
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The Best QuantumListing Articles of 2018
This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
Check out some of the highlights from the QuantumListing blog in 2018!
2018 has been a busy year at QuantumListing with lots of new members, features, and partnerships with the other players in CRE tech to make sure your user experience keeps improving. We’ve also kept busy posting content on the blog to document all these big developments
Take a look below at some of the QuantumListing team’s favorite blog articles of 2018 and see what QuantumListing has been up to this year.
From Seinfeld to QuantumListing, the Power of Syndication: We take a look at syndication, how it’s still used to make hundreds of millions of dollars for Jerry Seinfeld and Larry David in the 20 years since Seinfeld has been off the air, and how it’s being used by QuantumListing to make posting listings easier than ever. You can also read more about our specific syndication partnerships with Buildout, SharpLaunch, and LDCRE.
Meet the Quantum Listers: Over the past few months, we’ve been running an interview series with some of our most active users, the Quantum Listers. We asked them about how they get their deals, their opinions about the CRE industry, and what they love about QuantumListing. Does becoming a Quantum Lister interest you? Then fill out this questionnaire, and we can get you on your way to being our next Quantum Lister.
Socializing Commercial Real Estate: This article takes a look at how the brokers can harness the power of social media to get more exposure, build their brand, and land more deals. QuantumListing makes sharing a listing or a listing report as easy as clicking a button. Find out all about it in the article!
What do The Telephone, Etsy, Real Estate Conventions, and QuantumListing All Have in Common?: And the answer is….drumroll please…network effects! A network effect is the concept that as more people join a network, like Facebook or QuantumListing, the more powerful the network becomes. The more users that join QuantumListing, the more useful it becomes, giving you more connections to other users and—most importantly—getting you more deals. QuantumListing created its Networks feature to supercharge these network effects. Check the article out to learn about network effects, one of the most important concepts of our modern, hyper-connected era, and how QuantumListing Networks use them.
Meet the QuantumListing Tribe: Our user base is made up of all kinds of different people with their own style for using QuantumListing. Together, they make up the QuantumListing tribe. Check out this article to see different types of users in the QuantumListing tribe, like Navigators, Hunters, Gatherers, and Chieftains. What type of tribe member are you?
#LetsGetSmart Keeps Getting Smarter: For the third year running, QuantumListing has hosted the #LetsGetSmart speaker series at RECon in Las Vegas. During the series, some of the leading innovators in retail, real estate, and tech spoke about topics such as mCart, a blockchain-based retail platform, Walc, a GPS app built specifically for pedestrians, and Digsy.ai, a commercial real estate CRM that’s supercharged with AI. To learn about these disruptive ideas and more, check out the above link which has a list of all the presentations from #LetsGetSmart18.
QuantumListing’s Homecoming: Earlier this year, QuantumListing released its iOS app. This article takes a look at QuantumListings beginnings on mobile, its evolution to a web-based platform, and its recent return to the app store. Now you get the best of both: the mobile app and the desktop version!
Status Quo, Avant Garde, or Both?: This article takes a look at how QuantumListing is disrupting the commercial real estate business, and why you should be using the platform if you’re not already. For too long CRE has accepted a status quo in which you have to pay too much for lacking services from other services. QuantumListing, with its free listing viewing and reasonable prices, is bringing this era to an end.
We take great pride in our blog at QuantumListing, bringing you quality, useful content in addition to the quality, useful services provided by our platform.
We look forward to continuing keeping you updated on everything CRE and QuantumListing on our blog in 2019!
RSS Feed provided by theBrokerList Blog - Are you on theBrokerList for commercial real estate (cre)? and The Best QuantumListing Articles of 2018 was written by David Perlmutter.
The Best QuantumListing Articles of 2018 published first on https://greatlivinghomespage.tumblr.com/
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Text
The Best QuantumListing Articles of 2018
This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
Check out some of the highlights from the QuantumListing blog in 2018!
2018 has been a busy year at QuantumListing with lots of new members, features, and partnerships with the other players in CRE tech to make sure your user experience keeps improving. We’ve also kept busy posting content on the blog to document all these big developments
Take a look below at some of the QuantumListing team’s favorite blog articles of 2018 and see what QuantumListing has been up to this year.
From Seinfeld to QuantumListing, the Power of Syndication: We take a look at syndication, how it’s still used to make hundreds of millions of dollars for Jerry Seinfeld and Larry David in the 20 years since Seinfeld has been off the air, and how it’s being used by QuantumListing to make posting listings easier than ever. You can also read more about our specific syndication partnerships with Buildout, SharpLaunch, and LDCRE.
Meet the Quantum Listers: Over the past few months, we’ve been running an interview series with some of our most active users, the Quantum Listers. We asked them about how they get their deals, their opinions about the CRE industry, and what they love about QuantumListing. Does becoming a Quantum Lister interest you? Then fill out this questionnaire, and we can get you on your way to being our next Quantum Lister.
Socializing Commercial Real Estate: This article takes a look at how the brokers can harness the power of social media to get more exposure, build their brand, and land more deals. QuantumListing makes sharing a listing or a listing report as easy as clicking a button. Find out all about it in the article!
What do The Telephone, Etsy, Real Estate Conventions, and QuantumListing All Have in Common?: And the answer is….drumroll please…network effects! A network effect is the concept that as more people join a network, like Facebook or QuantumListing, the more powerful the network becomes. The more users that join QuantumListing, the more useful it becomes, giving you more connections to other users and—most importantly—getting you more deals. QuantumListing created its Networks feature to supercharge these network effects. Check the article out to learn about network effects, one of the most important concepts of our modern, hyper-connected era, and how QuantumListing Networks use them.
Meet the QuantumListing Tribe: Our user base is made up of all kinds of different people with their own style for using QuantumListing. Together, they make up the QuantumListing tribe. Check out this article to see different types of users in the QuantumListing tribe, like Navigators, Hunters, Gatherers, and Chieftains. What type of tribe member are you?
#LetsGetSmart Keeps Getting Smarter: For the third year running, QuantumListing has hosted the #LetsGetSmart speaker series at RECon in Las Vegas. During the series, some of the leading innovators in retail, real estate, and tech spoke about topics such as mCart, a blockchain-based retail platform, Walc, a GPS app built specifically for pedestrians, and Digsy.ai, a commercial real estate CRM that’s supercharged with AI. To learn about these disruptive ideas and more, check out the above link which has a list of all the presentations from #LetsGetSmart18.
QuantumListing’s Homecoming: Earlier this year, QuantumListing released its iOS app. This article takes a look at QuantumListings beginnings on mobile, its evolution to a web-based platform, and its recent return to the app store. Now you get the best of both: the mobile app and the desktop version!
Status Quo, Avant Garde, or Both?: This article takes a look at how QuantumListing is disrupting the commercial real estate business, and why you should be using the platform if you’re not already. For too long CRE has accepted a status quo in which you have to pay too much for lacking services from other services. QuantumListing, with its free listing viewing and reasonable prices, is bringing this era to an end.
We take great pride in our blog at QuantumListing, bringing you quality, useful content in addition to the quality, useful services provided by our platform.
We look forward to continuing keeping you updated on everything CRE and QuantumListing on our blog in 2019!
RSS Feed provided by theBrokerList Blog - Are you on theBrokerList for commercial real estate (cre)? and The Best QuantumListing Articles of 2018 was written by David Perlmutter.
The Best QuantumListing Articles of 2018 published first on https://greatlivinghomespage.tumblr.com/
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Top 10 QuantumListing Videos of 2017
This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
Video Overview of the New QuantumListing.com Website
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15 Reasons to Join QuantumListing
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#LetsGetSmart – Liz Holland
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#LetsGetSmart – Pamela Flora
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#LetsGetSmart – Doug Jerum
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#LetsGetSmart – Andrew Bermudez
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#LetsGetSmart – Mike McClure
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#LetsGetSmart – John Sherry
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#LetsGetSmart – Craig Wood
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Introducing the CRE Podcasts Directory
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RSS Feed provided by theBrokerList Blog - Are you on theBrokerList for commercial real estate (cre)? and Top 10 QuantumListing Videos of 2017 was written by David Perlmutter.
Top 10 QuantumListing Videos of 2017 published first on http://ift.tt/2hkHhkP
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The Best of the 2017 QuantumListing Blog Posts
This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
The blog posts are organized more thematically then anything else. Several of them were written by guest posters. I hope you’ll enjoy them as much as I have.
Xceligent Job Matching Xchange
Xceligent Has Ceased Operations, Now What?
How Can We Help Each Other
I’m Charged Up
Introducing the CRE Podcasts Directory
Recent Listings From NAI Isaac In and Around Lexington, Kentucky
QuantumListing Hot Spot: Southern California’s Inland Empire
Brown University Real Estate Group Real Estate Technology Event
UPDATED: What’s Wrong with ICSC RECon?
#LetsGetSmart – Skate to Where the Puck is Going to Be
#LetsGetSmart – A Data-Driven Look at the Future of Retail
#LetsGetSmart – Digitalization Will Create Opportunities for Shopping Centers
#LetsGetSmart – The Evolution of Retail: Gatherers Become Hunters
#LetsGetSmart – Data Insights Drive Sales Productivity
#LetsGetSmart – Data Must Drive Customer Engagement
#LetsGetSmart – Smart Signs for Changing Times
Thanks for checking out these posts. Look for a summary of what I think QuantumListing has accomplished in 2017 in the next week. Thanks for being a reader! If you would like to join QuantumListing, CLICK HERE. If you’d like to schedule a webmeeting demo of QuantumListing, CLICK HERE.
RSS Feed provided by theBrokerList Blog - Are you on theBrokerList for commercial real estate (cre)? and The Best of the 2017 QuantumListing Blog Posts was written by David Perlmutter.
The Best of the 2017 QuantumListing Blog Posts published first on http://ift.tt/2hkHhkP
0 notes
Text
The Best of the 2017 QuantumListing Blog Posts
This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
The blog posts are organized more thematically then anything else. Several of them were written by guest posters. I hope you’ll enjoy them as much as I have.
Xceligent Job Matching Xchange
Xceligent Has Ceased Operations, Now What?
How Can We Help Each Other
I’m Charged Up
Introducing the CRE Podcasts Directory
Recent Listings From NAI Isaac In and Around Lexington, Kentucky
QuantumListing Hot Spot: Southern California’s Inland Empire
Brown University Real Estate Group Real Estate Technology Event
UPDATED: What’s Wrong with ICSC RECon?
#LetsGetSmart – Skate to Where the Puck is Going to Be
#LetsGetSmart – A Data-Driven Look at the Future of Retail
#LetsGetSmart – Digitalization Will Create Opportunities for Shopping Centers
#LetsGetSmart – The Evolution of Retail: Gatherers Become Hunters
#LetsGetSmart – Data Insights Drive Sales Productivity
#LetsGetSmart – Data Must Drive Customer Engagement
#LetsGetSmart – Smart Signs for Changing Times
Thanks for checking out these posts. Look for a summary of what I think QuantumListing has accomplished in 2017 in the next week. Thanks for being a reader! If you would like to join QuantumListing, CLICK HERE. If you’d like to schedule a webmeeting demo of QuantumListing, CLICK HERE.
RSS Feed provided by theBrokerList Blog - Are you on theBrokerList for commercial real estate (cre)? and The Best of the 2017 QuantumListing Blog Posts was written by David Perlmutter.
The Best of the 2017 QuantumListing Blog Posts published first on http://ift.tt/2hkHhkP
0 notes
Text
The Best of the 2017 QuantumListing Blog Posts
This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
The blog posts are organized more thematically then anything else. Several of them were written by guest posters. I hope you’ll enjoy them as much as I have.
Xceligent Job Matching Xchange
Xceligent Has Ceased Operations, Now What?
How Can We Help Each Other
I’m Charged Up
Introducing the CRE Podcasts Directory
Recent Listings From NAI Isaac In and Around Lexington, Kentucky
QuantumListing Hot Spot: Southern California’s Inland Empire
Brown University Real Estate Group Real Estate Technology Event
UPDATED: What’s Wrong with ICSC RECon?
#LetsGetSmart – Skate to Where the Puck is Going to Be
#LetsGetSmart – A Data-Driven Look at the Future of Retail
#LetsGetSmart – Digitalization Will Create Opportunities for Shopping Centers
#LetsGetSmart – The Evolution of Retail: Gatherers Become Hunters
#LetsGetSmart – Data Insights Drive Sales Productivity
#LetsGetSmart – Data Must Drive Customer Engagement
#LetsGetSmart – Smart Signs for Changing Times
Thanks for checking out these posts. Look for a summary of what I think QuantumListing has accomplished in 2017 in the next week. Thanks for being a reader! If you would like to join QuantumListing, CLICK HERE. If you’d like to schedule a webmeeting demo of QuantumListing, CLICK HERE.
RSS Feed provided by theBrokerList Blog - Are you on theBrokerList for commercial real estate (cre)? and The Best of the 2017 QuantumListing Blog Posts was written by David Perlmutter.
The Best of the 2017 QuantumListing Blog Posts published first on http://ift.tt/2hkHhkP
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#LetsGetSmart – Digitalization Will Create Opportunities for Shopping Centers
This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
The first speaker of #LetsGetSmart17 was Doug Jerum. Doug is a managing partner at Ferrara Jerum International, a real estate brokerage firm based out of Rodchester, NY that specializes in big box stores like Walmart and Kohl’s and is now developing several locations for Seritage.
Doug focused his talk on how digitalization is affecting the direction of retail. Gartner Research defines digitialization as, “the use of digital technologies to change a business model and provide new revenue and value-producing opportunities.”
The internet is the biggest factor changing retail. This especially applies for people who’re under 40 today. These under-40s, often referred to as Millennials, do large amounts of shopping online, and are thus less likely to shop in a physical retail location. “The younger side is sweeping away everything we thought to be true,” according to Doug.
These younger shoppers “need everything to be an experience in one way or another.” For shopping that is not an experience, younger shoppers prefer the convenience of online shopping.
This experience-based shopping includes entertainment venues, such as movies and bars, and also “internet-proof” things, like barbers and gyms. In addition to being “internet-proof”, retail should also be “boring-proof”, meaning that it should hold the shoppers’ interest with some unique and enriching element.
At this point in the talk, an audience member asked a question about how Walmart and similar bix box stores will do in this new retail environment. As Doug has been involved with over 60 Walmart locations, he was well positioned to answer.
Doug said that it is unlikely that another behemoth like Walmart will emerge in the foreseeable future. There is simply no need for another retail store of Walmart’s scale when so much can now be bought online. In fact, most of Walmart’s recent growth has been from its website. Walmart’s business has had to evolve to accommodate this new world of digital retail, even given its predominant place in traditional retail.
The winners in the future of retail will be services, food, and entertainment—businesses that provide experiences.
At this point in the talk, Doug pivoted to discuss a few emerging sectors that will provide growth for retail going forward, eSports and location-based virtual reality.
If you are unsure of what eSports are, it is playing video games professionally. Do not worry if you are unfamiliar with this term, as when Doug asked the audience who knew what eSports are, only a paltry two hands went up.
While the commercial real estate brokers and other participants in #LetsGetSmart17 may not follow eSports, these digital competitions are quite popular among young people. The industry is currently worth $700 million, and has grown 40 percent since last year. Future rapid growth is certain. Heralding eSport’s emergence to the mainstream, eSports arenas are popping up all around the country. There is currently a 20,000 square foot eSports arena being built at the Luxor in Las Vegas.
Also like with traditional sports, there is are retail opportunities with eSport merchandise, particularly as popular teams and celebrities emerge begin to get more mainstream media attention.
It remains to be seen how eSports will play out, but the industry is a worth watching because it is certain to boom in coming years.
Doug also talked about location-based virtual reality (LBVR), another digital development that will grow in the near future. LBVR is virtual reality (VR) that is experienced outside of the home. Having a VR set up at home can be prohibitively expensive and complicated for many people, so they would rather just go to a dedicated LBVR space.
There are almost limitless possibilities for VR, such as putting a headset on to take a tour of a museum 2,000 miles away, or even climbing a mountain with more advanced VR equipment.
Doug cited the Ghostbusters exhibit at Madame Tussauds in Manhattan as a great example of LBVR’s potential. Similar LBVR experiences will be spreading across shopping centers in the near future.
LBVR is a new area, so nobody has yet figured out a formula for its success. But, Doug believes, “in the next year or two someone will have one [location based VR] that blows everyone away.”
Given younger people’s desire for experiences while shopping, such as going to a LBVR center, many new retail businesses will be local stores, regional firms, and franchises, according to Doug. These types of stores can cater to local tastes better than the big national corporations that drew customers in the past.
While these smaller business will create more revenue in coming years, they present challenges as well. It is often harder to suss out if a smaller firm is a good operator than it is for a big national business. There is less transparency and information about smaller businesses than their large national counterparts. Therefore, Doug said, it is very important to know how to analyze financial statements to better-understand smaller businesses.
Doug concluded his time discussing the role of digital technology in the commercial real estate industry. He said, “there is a long way to go before anybody is going to tell us our industry is tech savvy.” Compared to other industries’ digitalization, commercial real estate is the “caboose on the train.” But, this lack of digitalization means that there is enormous opportunity to be made digitizing the industry. There has yet to be a “killer app” for commercial real estate, but the industry is ready for such innovation.
Watch Doug Jerum’s presentation at #LetsGetSmart below.
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Ben Perlmutter is a freelance writer and English teacher in Seoul, South Korea. He can be contacted for inquiries at [email protected].
RSS Feed provided by theBrokerList Blog - Are you on theBrokerList for commercial real estate (cre)? and #LetsGetSmart – Digitalization Will Create Opportunities for Shopping Centers was written by David Perlmutter.
#LetsGetSmart – Digitalization Will Create Opportunities for Shopping Centers published first on http://ift.tt/2hkHhkP
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#LetsGetSmart – Digital Hunters and Retail Gatherers
This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
Prior to ICSC RECon, David Perlmutter wrote an article, “What’s Wrong with ICSC RECon?,” which challenged ICSC’s leadership to make Wednesday at ICSC better than it has been, and how the #LetsGetSmart17 Speaker Series was a grass roots effort to do just that. Liz Holland, the CEO of Abbell Associates, a real estate investment and management company based in Chicago and 2016-2017 Chairman of the International Council of Shopping Centers (ICSC) accepted the challenge.
During her term as ICSC Chairman, Liz has focused on whether internet sales are really killing brick and mortar stores, as so many media reports lead us to believe. In her talk, she analyzed whether online sales are really killing physical retail to the extent that it is so often presented and how the internet is changing people’s shopping behavior.
Liz began by discussing a talk that she had with representatives from the U.S. Census Bureau. Their meeting was to analyze the data that the Census Bureau has about retail.
The meeting revealed that the Census Bureau’s data does not reveal as much about the real estate as was hoped. The data was more about the economy and information that could benefit federal policy. This is not the information that is most beneficial for the retail industry. Moreover, this information is often misrepresented (unintentionally or not) in a way that makes the retail industry seem to be doing worse than it actually is.
To explain why the data was insufficient, Liz provided the example of the often-cited statistic that 9.2 percent of retail sales are no longer coming from brick and mortar stores. This number may sound relatively large, but when broken down into its component parts, it becomes less intimidating. For example, a tenth of the number accounts for shipping costs, like FedEx and UPS. Mail order accounts for a further third of the statistic—and half of this is for mail order prescription drugs. These numbers, according to Liz, put serious dents in the idea that ecommerce is rapidly replacing traditional retail.
Even Amazon, Liz noted, barely makes a profit from its ecommerce business, and these profits have been shrinking in recent years. In the past couple of years, Amazon has entered the brick and mortar retail business, opening large stores in major cities.
Liz discussed at length the Amazon store in Chicago, her home town. The 6,000 square foot location uses the vast troves of digital marketing data from its website to know which books to stock. With the demographic information about the online book choices of the area, Amazon can stock probably only a quarter of the books stocked in a traditional bookstore. This creates synergy between data and physical retail and could prove to be a powerful force in retail going forward.
While Amazon’s physical locations have a long way to go before matching the company’s digital revenue streams, the brick and mortar stores “create customer loyalty and brand identity,” according to Liz.
Ulta, a chain of beauty stores, is another example of a company that utilizes digital technology at its retail locations to improve the customer experience. If a customer who is a member of the frequent buyer program logs into the store Wi-Fi, they will get a notification telling them which of their previously bought items is on sale.
As these examples demonstrate, the internet is not killing brick and mortar retail as much as it is changing how retail is done.
In the past, said Liz, “there used to be two kinds of shoppers: there were hunters and there were gatherers. Hunters go into a store knowing what they want, buy the product, and leave. Gatherers have a less purposeful shopping mindset, going store to store while looking at a broader selection of products. After lots of looking, gatherers finally make their purchase.
The internet has led to many more people “hunting” rather than “gathering”. People can suss out what they want beforehand online, and then go shopping for the specific product they they know they want.
Consumers are now “channel agnostic”, according to Liz. They care much more about the product that they buy more than where they are buying the product.
This new paradigm of retail requires greater coordination between landlords and retailers than in the past. There needs to be communication about inventory to ensure that the hunters can get the products they seek. Liz said, “technology can go such a long way to supporting shopping in what we all invest in as real estate people.”
Liz cited Homeplus, a supermarket chain in South Korea, as a model example for integration of digital technology in brick and mortar retail. Homeplus plastered subway stations in Seoul, South Korea with pictures of the shelves on their grocery stores with QR codes next to each item. People could scan the QR codes with the Homeplus app on their phone to put items in their digital shopping cart. Then, they could choose a time to pick up their items from a physical store or have the groceries delivered to their home. Liz emphasized that this very novel idea was done completely with very much established technology, meaning something like this is very possible in the United States as well.
After Liz finished her talk, the audience engaged her with various questions about the ICSC, large malls, and using social media to reach millennial users. The audience was particularly interested with Liz’s knowledge of millennials. They discussed how the rise of social media has made everything part of people’s “personal brand”, making people identify more with the things they buy. This further accentuates people’s “hunting” mentality.
In parting, Liz shared some thoughts on how best to reposition retail for the future. As millennials are more likely to shop online then their older counterparts, they crave shopping experiences. So, popular stores for millennials, and growth sectors as millennials become more established consumers, are things like craft breweries, bowling alleys, and movie theaters.
Watch Liz Holland’s talk at #LetsGetSmart
youtube
Ben Perlmutter is a freelance writer and English teacher in Seoul, South Korea. He can be contacted for inquiries at [email protected].
RSS Feed provided by theBrokerList Blog - Are you on theBrokerList for commercial real estate (cre)? and #LetsGetSmart – Digital Hunters and Retail Gatherers was written by David Perlmutter.
#LetsGetSmart – Digital Hunters and Retail Gatherers published first on http://ift.tt/2hkHhkP
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#LetsGetSmart – Data Must Drive Customer Engagement
This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
Craig Wood, Vice President for the Western Region for AMP Technologies focused his talk at #LetsGetSmart on using digital technology to improve the retail sector. AMP Technologies, is a cloud-based real estate asset management platform based out of San Ramon, California. Craig has been working on the technology side of retail for nearly twenty years. Before joining AMP, he worked with AT&T on the partner side of the business helping early stage companies.
Craig began his talk by discussing the idea that although many people have recently made claims about the decline of physical retail, it is by no means a “dead” industry; rather, it is merely changing as our society moves from an industrial one to a technology-based one.
While Craig credited some companies like Amazon for making online retail fast and convenient, he also points out that humans are by nature social creatures and that many researchers are coming out with studies that point to the negative effects of sitting in front of a computer for hours on end.
In fact, Amazon itself is working on creating physical retail in addition to its online presence, recognizing that while shopping over the internet is convenient there is no replacement for the social interactions a shopper gains from going into a physical retail space. Thus, the challenge for businesses today is to figure out the optimal balance of online retail and physical retail.
Craig used the example of the changing look of physical retail to transition into one of his main points: in a technology-based society, the real key for businesses is data. “What matters the most is who has the most data, who has the greatest insights, and most importantly who can execute on that data the fastest,” Craig claimed.
In a marketplace that is changing quickly, Craig encourages businesses to streamline their data and assess how quickly they can access and respond to it. “I have come into the real estate world and the retail side of things from a technology background, and what has been most amazing to me is the lack of automation that exists in the real estate side of things.” Craig believes that many businesses can cut out manual data-sharing and move toward unified insights that allow them to access their data in an instant. Optimizing data in this way allows a business to quickly access the information they need, allowing them to be more nimble and efficient as they work to outperform opponents.
In general when it comes to handling data, Craig claimed that “those who can move fastest will win.”
As Craig concluded his talk, he opened up the stage to the audience members to ask questions, who focused their questions on how businesses can use technology to their advantage in today’s industries.
One member asked Craig how he thinks companies can continue to use data to improve, citing that Walmart has been using real-time data from its stores and warehouses for years. Craig explained that in this sense, an area that retailers will move toward is the “instant fulfillment” model; he predicted retailers will spend more money in the future on expedited delivery options (in a similar way to UberEats’ recent rapid delivery model).
Another audience member asked Craig more broadly how businesses can use technology to their advantage while competing in the market today. In response, Craig made three suggestions. First, he pointed out that businesses need to look at their data in-house and figure out how to optimize how quickly their team members can respond and collaborate within their platform. For example, businesses should look to cut down on emails and attachments and replace them with the collaborative tools available today. Second, Craig suggested that companies make having a successful online presence a top priority, especially in terms of boosting web traffic. Lastly, Craig suggests that businesses focus on and evaluate how all of the aforementioned aspects of their business come together cohesively.
Finally, Craig responded to a question from an audience member by discussing what he views as successful tactics from online retailers today. Craig discussed that smaller brands that focus heavily on consumer engagement are seeing some of the greatest successes online today, which can be a more difficult aspect of business for the larger companies like Amazon and WalMart. Lastly, Craig pointed out the importance of working against what he calls “cultural inertia” within companies, meaning that company leaders should continue to be open to new strategies and perspectives rather than get stuck in their old ways.
Watch Craig Wood’s presentation at #LetsGetSmart:
youtube
Mary Keough is a recent graduate of University of Virginia, where she earned her bachelors degree in psychology and her masters degree in teaching. She is looking to pursue a career in elementary education. She can be reached at [email protected].
RSS Feed provided by theBrokerList Blog - Are you on theBrokerList for commercial real estate (cre)? and #LetsGetSmart – Data Must Drive Customer Engagement was written by David Perlmutter.
#LetsGetSmart – Data Must Drive Customer Engagement published first on http://ift.tt/2hkHhkP
0 notes
Text
#LetsGetSmart – Data Must Drive Customer Engagement
This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
Craig Wood, Vice President for the Western Region for AMP Technologies focused his talk at #LetsGetSmart on using digital technology to improve the retail sector. AMP Technologies, is a cloud-based real estate asset management platform based out of San Ramon, California. Craig has been working on the technology side of retail for nearly twenty years. Before joining AMP, he worked with AT&T on the partner side of the business helping early stage companies.
Craig began his talk by discussing the idea that although many people have recently made claims about the decline of physical retail, it is by no means a “dead” industry; rather, it is merely changing as our society moves from an industrial one to a technology-based one.
While Craig credited some companies like Amazon for making online retail fast and convenient, he also points out that humans are by nature social creatures and that many researchers are coming out with studies that point to the negative effects of sitting in front of a computer for hours on end.
In fact, Amazon itself is working on creating physical retail in addition to its online presence, recognizing that while shopping over the internet is convenient there is no replacement for the social interactions a shopper gains from going into a physical retail space. Thus, the challenge for businesses today is to figure out the optimal balance of online retail and physical retail.
Craig used the example of the changing look of physical retail to transition into one of his main points: in a technology-based society, the real key for businesses is data. “What matters the most is who has the most data, who has the greatest insights, and most importantly who can execute on that data the fastest,” Craig claimed.
In a marketplace that is changing quickly, Craig encourages businesses to streamline their data and assess how quickly they can access and respond to it. “I have come into the real estate world and the retail side of things from a technology background, and what has been most amazing to me is the lack of automation that exists in the real estate side of things.” Craig believes that many businesses can cut out manual data-sharing and move toward unified insights that allow them to access their data in an instant. Optimizing data in this way allows a business to quickly access the information they need, allowing them to be more nimble and efficient as they work to outperform opponents.
In general when it comes to handling data, Craig claimed that “those who can move fastest will win.”
As Craig concluded his talk, he opened up the stage to the audience members to ask questions, who focused their questions on how businesses can use technology to their advantage in today’s industries.
One member asked Craig how he thinks companies can continue to use data to improve, citing that Walmart has been using real-time data from its stores and warehouses for years. Craig explained that in this sense, an area that retailers will move toward is the “instant fulfillment” model; he predicted retailers will spend more money in the future on expedited delivery options (in a similar way to UberEats’ recent rapid delivery model).
Another audience member asked Craig more broadly how businesses can use technology to their advantage while competing in the market today. In response, Craig made three suggestions. First, he pointed out that businesses need to look at their data in-house and figure out how to optimize how quickly their team members can respond and collaborate within their platform. For example, businesses should look to cut down on emails and attachments and replace them with the collaborative tools available today. Second, Craig suggested that companies make having a successful online presence a top priority, especially in terms of boosting web traffic. Lastly, Craig suggests that businesses focus on and evaluate how all of the aforementioned aspects of their business come together cohesively.
Finally, Craig responded to a question from an audience member by discussing what he views as successful tactics from online retailers today. Craig discussed that smaller brands that focus heavily on consumer engagement are seeing some of the greatest successes online today, which can be a more difficult aspect of business for the larger companies like Amazon and WalMart. Lastly, Craig pointed out the importance of working against what he calls “cultural inertia” within companies, meaning that company leaders should continue to be open to new strategies and perspectives rather than get stuck in their old ways.
Watch Craig Wood’s presentation at #LetsGetSmart:
youtube
Mary Keough is a recent graduate of University of Virginia, where she earned her bachelors degree in psychology and her masters degree in teaching. She is looking to pursue a career in elementary education. She can be reached at [email protected].
RSS Feed provided by theBrokerList Blog - Are you on theBrokerList for commercial real estate (cre)? and #LetsGetSmart – Data Must Drive Customer Engagement was written by David Perlmutter.
#LetsGetSmart – Data Must Drive Customer Engagement published first on http://ift.tt/2hkHhkP
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