Retail Can Bounce Back, If Technology Is Wielded Right

by MR Magazine Staff

Retailers should focus on scaling back on bricks-and-mortar to focus on digital, but keeping the in-store presence to act as showrooms for customer engagement in the upcoming year, according to CBRE Research.While 2016 was a rough year for retail, 2017 could be poised for a comeback but retailers must proceed with care due to the tumultuous political environment. Many brands are sticking to markets that have proven to be successful due to the uncertainty. “At times it feels like we are being hit by gale-force winds. Nowadays we use the word ‘disruption,’ rather than ‘destruction,’ but the meaning is the same,” said Richard Barkham, global chief economist at CBRE Research. “All of the main real estate sectors we review in this outlook for 2017 are in the process of reinventing themselves to accommodate technology-driven changes in business operations.” Although the rate of change is very rapid, it’s the most exciting and interesting time to be involved in commercial real estate for many generations,” he said. Read more at Luxury Daily.