Implementing technology to be ahead of the pack

data real time, technology, PropTech, CREtech solutions

It is well known that COVID-19 deeply changed every aspect of our personal and professional lives, in all fields and spheres. And the impact it had on the real estate industry forced workers to adapt to a new reality. Shopping malls were closed and sat empty for months. Merchants were forced to develop new strategies to reach their customers, and customers, for their part, had to discover a new way to engage with their favourite brands, without the possibility to interact in person as easily as before.

Although COVID-19 represented numerous challenges for the industry, it was also the trigger for the development of new tools and strategies in order to renew the industry and adapt innovative modalities in the different stages, including marketing, communication with clients, the presence in social networks and the implementation of new approaches for the reopening in shopping centres.

One of the most useful fundamental tools to deal with this situation was, without a doubt, technology. The digitization of processes and spaces was present in practically all the shopping centres that sought the best ways to get ahead. Specifically, PropTech provided technology platforms focused on improving workflows and access to real-time data. For the particular case of commercial real estate technology (or CREtech), these platforms help reduce paperwork, improve security and efficiency, streamline leasing transactions, and centralise teams, processes, and data into a single digital workplace.

The digitization of processes and spaces was present in practically all the shopping centres that sought the best ways to get ahead

The implementation of PropTech and CREtech solutions allows you to easily access data, analyse it and put together a more solid and secure action plan. In this way, downtimes are also shortened and production is increased, since the organisation of clear information serves to save time without the need to go back and repeat processes that did not yield the desired results. Check out some of the many possibilities that technology and digitization provided to shopping centres:

  • Flexible workspaces: In order to adapt to different needs and situations
  • Improved customer experiences: Taking into account customers’ needs and expectations and being able to act accordingly will make customers feel more comfortable
  • Omnichannality: This one is a must. Being present throughout different social media is crucial to keep in touch with users from different ages and spheres
  • Connectivity: Organisations can deliver a more tailored customer service, including a picking service, personal deliveries, reverse logistics, no freight charge and, essentially, constant communication throughout the whole delivery Journey
  • Digitization of leasing processes: Commercial real estate managers, retailers, and investors make use of databases that gather information from several sources and help them work in a more dynamic way

The new era of technology is here and it is here to stay. We must take a flexible position to be able to adapt to the changes and benefits that it offers us, with the primary objective of offering a better service to our clients and continuing to grow.

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