From its inception, experts were of two minds on the internet’s effect: either it would revolutionize industries or make them antiques.
As often occurs, the truth lies somewhere in the middle, yet many industries have experienced major shifts and are poised to face more. For those industries heavily reliant on real estate, change has come more slowly. But that is not likely to last.
Real estate is already transforming under pressures ranging from new consumer expectations to the impact of extreme weather events. It’s an integral part of daily life, but for many lenders, owners, retailers, restauranteurs, and others, the way we interact with real estate is shifting.
While the much-vaunted retail apocalypse has birthed endless media debate, those retailers adopting new strategies, tackling new technologies, and innovating in their respective spaces have seen not an apocalyptic slide, but new clientele and sources of revenue. Technology is increasingly embedded into every facet of our lives as smart buildings, driverless vehicles, and other denizens of science fiction become part of the fabric of daily life.
While we don’t yet live in an age of space travel, hoverboards, or self-lacing shoes, technology has become a significant driver of result of near-constant technological advancement. In many cases, they have defied expectations and become more focused on the experience of interacting with brands. Those experiencing breakout success are clearly defining their clientele and delivering a superior client experience.
Some of these shifts are substantially different than expectations. For instance, Baby Boomers are aging in place more than their parents, and if they move to senior communities, trends indicate it has more to do with the lifestyle they aspire to. In fact, shifting lifestyle preferences transcend generations, with each generation placing more significance on the experience of a place, rather than location or status.
Over the next few months, we will be looking at the trends influencing the way we use real estate, delving into what they mean for you and your industry. Join us as we expand our understanding of the way consumers interact with brands, and how to build brand loyalty in innovative ways that reflect this evolution of industry.