LAS VEGAS—The retail and retail real estate industries are currently in a period of data-driven evolution, according to Mark Sigal, CEO of Datex Property Solutions. He tells GlobeSt.com that while the proptech sector was once a shiny and new frontier, the industry has since amassed a wealth of data on usage patterns and what works and what doesn't. In today's market, the focus is on proving that a solution can deliver as promised and be deployed on time.
Sigal is one of the many in attendance at this year's big ICSC Las Vegas event, which kicked off festivities last night, where he says that despite this shift towards more pragmatic thinking, there is still plenty of room for innovation in retail and retail real estate. He notes that retail is one of the most competitive segments of the economy and is always evolving. As a result, concepts and players must evolve rapidly or risk becoming obsolete.
The pandemic has further underscored the need for retailers to reassess their core business and develop thoughtful strategies for competition. As a result, the industry has emerged stronger and more differentiated than ever.
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