The Future of Retail is Fluid

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by Jeff Pollak, Managing Principal

Is the future of space whatever you need it to be, wherever you need to be?

 

Throughout history, real estate has been purpose-built for a particular function. You can no longer rely on the historical use of space and expect the same results. Today, places must be dynamic, inspiring, enriching, and unique. They are defined not by their function but by their purpose. Gone are the days when we describe places by their singular function. Instead of “that’s my gym” it’s “that is where I feel the most energized.” Instead of “that is my office” it’s “that is where I feel most inspired.” And instead of “that’s my apartment” it’s “that is where I go to relax.”

 

There is no longer a place for spaces that don’t hold a vast purpose or a greater sense of meaning to our lives. When you see someone on a laptop or on their phone in a coffee shop – do you wonder what they are doing? Are they working, shopping, dating, or gaming? Regardless, we do know one thing: that coffee shop is no longer just a coffee shop. When you walk through a park, walkers, dog owners, and families are now accompanied by entrepreneurs, group meetings, and photographers, who all now prioritize getting outside throughout the day and thankfully can, because today, there is as much technology on a park bench as in most offices. The future of space is whatever you need it to be, wherever you need to be.

 

With this newfound fluidity comes an even stronger importance of quality of place. As spaces become more versatile in the purpose they serve throughout someone’s day, individuals will spend longer amounts of time in a given place. As such, creating quality feeling environments is of the utmost importance, now more than ever. No detail is too insignificant when it comes to enhancing quality, from creating a pleasant arrival experience whether by foot, car, or bike, to providing a variety of unique and diverse spaces to sit and work, to hosting various evening and daytime activations to engage people of all ages; curated details within each of these aspects of a place are what will ultimately make them dynamic, inspiring, enriching, unique, and most importantly, remain versatile for years to come.

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