Market Repurposing

The market is changing at a breakneck pace an impact on participants in ways that never would have been imaginable just 3 years ago. This is the result of breathtaking advances in technology and especially the network and connectivity of the technology and tools across the marketplace. I live in an urban area and can just look out the window and see the impact of the technology and the connectivity. Add to this the promise of 5g wireless technology and this pace will only increase and the disruption based on the technology will increase as well. This all leads to a focus on market repurposing of technology capabilities and more importantly of real estate and the use of physical locations to extend and provide new capabilities to the brand. There is really no telling right now how the market will look in the next 5 to 10 years but I think it's safe to say that the retail brick and mortar location will be completely re-purposed.




We are in the midst of almost complete market disruption where many of the largest historic retailers are failing in new ways as result of the digital retail competition coupled with consumer embrace of the technology and the opportunity to reshape their shopping and purchasing to meet their lifestyle needs. This change has reached a level of velocity that is most difficult for the legacy retailers to maintain as a result of their need to redesign their services and practices to support the new digital demands of consumers to support their shopping. Another result of the digital disruption is the impact on the brick and mortar stores and malls. You can see the results everywhere with empty malls and store fronts and as the larger retailers are fighting to survive they are also shedding real estate. This leaves new opportunities in the market to address other demands of the market but it will take imagination to re-purpose to meet the digital demands.




Repurposing is an important method recycle and reuse processes systems and most importantly physical structures. Retailers have been very adept at adding new processes and systems to meet the market demands and now these retailers must also become adept and re-purposing processes and systems to quickly and efficiently adapt to the market change. Frankly I don’t see a way that retailers especially can survive the velocity of change and market disruption without re-purposing. Repurposing becomes even more valuable when you extend your capabilities through enhanced and increased collaboration with network partners.




Repurposing is also becoming important in the brick and mortar side of the omni market as well. Real estate re-purposing presents and allows the market to reuse the real estate to better support the changing market demands. As the real life shopping decreases it leaves more time for life style enhanced activities and drives the re-purposing of the real estate landscape. For instance, with the increase in eCommerce sales, the demand for big box stores and brick and mortar outlets is changing and decreasing which provides the opportunity for retailers and malls to repurpose building, perhaps converting large big box stores into direct to consumer fulfillment centers, for instance, or even entertainment centers or even living spaces.