Many shopping centres continue to rely on outdated practices that are both time-consuming and lack measurable data on their effectiveness. And, as retail environments are forced to evolve and consider how they build and nurture communities, these outdated processes create a bottleneck to success. They create silos.
Retail occupiers, on the other hand, have made concerted efforts to modernise their propositions. The Retail Bulletin estimates that by 2030 retail IT expenditure will hit $9.07 billion, up from $5.48 billion in 2023. On one hand this presents a challenge for shopping centre owners, but on the other, an opportunity.
Communications in retail management is a key area for modernisation. The aim is to streamline operations, adopt data-driven strategies and build engaged communities. Eldon Square saw this as an opportunity and sought to digitise their operations with the Kinexio solution.