From mobile apps to social media to push notifications via iBeacon, marketing continues to increase effectiveness and investment returns. Through retail marketing technology, retailers are increasingly able to custom tailor buying experiences and better serve consumers to create win-win situations for all sides. Ultimately, this drives sales and profits for brick and mortar retailers in Canada, resulting in increased tenant revenues and higher rents for retail property investors.
When used by both landlords and retail tenants, technologies can help increase foot traffic, community, loyalty, customer retention and consumer spending for local shopping plazas.
In addition, new marketing technologies are also helping landlords and property managers promote and increase performance of retail properties in Canada. Better data, accuracy and effectiveness in marketing and improving per-foot sale figures allow for filling units and maintaining maximum occupancy at the best rates easier.
Operational efficiency is also improving for both retail tenants and landlords – thanks to many new technologies and software. Better bookkeeping software results in less down time dealing with paper and taxes, while online and mobile payments are decreasing retailers’ possibility of fraud.