{"id":1004326514,"date":"2019-05-23T21:52:29","date_gmt":"2019-05-24T05:52:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004326514"},"modified":"2019-05-24T06:43:38","modified_gmt":"2019-05-24T14:43:38","slug":"recon-buzzes-with-retail-technology-trends","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/recon-buzzes-with-retail-technology-trends\/","title":{"rendered":"RECon Buzzes With Retail Technology Trends"},"content":{"rendered":"
\"\"

Demonstration of augmented reality software by Thyng at JLL’s booth during RECon.<\/p><\/div>\n

Cereal boxes that come to life. Tools that bring data analytics to a new level. And yes, facial recognition software.<\/p>\n

Amid the untold thousands of dealmaking meetings at RECon this week was another constant topic of discussion: technology in all its forms. By the time the International Council of Shopping Centers\u2019 spring event concluded in Las Vegas on Wednesday, it was clear that plenty of brainpower, capital and determination are flowing into many-sided efforts to remake retail real estate for a new age.<\/p>\n

In a corner of JLL\u2019s booth near the entrance to the Las Vegas Convention Center\u2019s central hall, Ed Lahood made the case for role of augmented reality in augmenting the brick-and-mortar experience. Most of us assume that the online experience and the brick and mortar experience are entirely separate. \u201cImagine those two experiences (combined) on top of one another,\u201d he said. Lahood, the founder of a young Chicago-based AR specialist called Thyng, showed how augmented reality can work in conjunction with a smartphone to show Snap, Crackle and Pop hopping off a Rice Krispies box and guiding the shopper down the aisle.<\/p>\n

\"\"<\/p>\n

Christopher Maling, a Los Angeles-based principal and retail investment specialist at Avison Young, related how high-tech communications enables one investor client to serve as his own asset manager.. Visiting the client\u2019s residence in Malibu, Maling was ushered into his home office, where a half-dozen plasma TVs adorned a wall. The client, a high net-worth investor in retail properties, relies on the screens to monitor activity. If a worker at a convenience store cuts corners by making a trash run from the front door rather than from the service door, leaving behind a messy tell-tale trail, Maling\u2019s client sees it in real time. \u201cHe can make one phone call and take care of it,\u201d Maling said.<\/p>\n

Embracing Massive Data<\/h2>\n

Other industry veterans at RECon said that technology is gaining ground in other respects, as well. One of the new tech-related buzzwords is \u201cmassive mobile data,\u201d noted Brandon Famous, executive managing director of CBRE\u2019s retail advisory and transaction services\u2014occupier practice. \u201cI think the retailers are starting to have a better understanding of how to use the data and the analytics that are now available to them,\u201d he said, adding, \u201cFar more retailers are embracing it than they were a year ago.\u201d And for native online retailers moving into brick-and-mortar formats, assessing the supply chain for maximum efficiency is vital to success.<\/p>\n

\"\"

Sandy Sigal, NewMark Merrill<\/p><\/div>\n

As data analytics is expanding its influence, some executives are testing other new directions. NewMark Merrill is testing facial recognition technology at three of its Southern California properties. Among its uses: customer recognition, monitoring the flow of foot traffic at the property and for loss prevention, reported Sandy Sigal, the firm\u2019s founder & CEO.<\/p>\n

That is only the latest exploration of technology for the privately held, Los Angeles-based firm, which was an early adopter of data analytics to gauge store performance and assess customer habits. Meanwhile, interest in proptech is rising to unprecedented heights, from the tens of billions to hundreds of billions. \u201cIt\u2019s gone up hockey-stick crazy,\u201d Sigal noted.<\/p>\n","protected":false},"excerpt":{"rendered":"

From augmented reality to the latest in analytics, ICSC\u2019s Las Vegas event highlighted the tech tools that aim to enhance brick-and-mortar retail. <\/p>\n","protected":false},"author":445,"featured_media":1004326751,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23891,21742,21749,21787],"tags":[33022,32789,32796,34942],"class_list":["post-1004326514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-latest","category-retail","category-technology","tag-avison-young","tag-cbre","tag-jll","tag-newmark-merrill-companies"],"acf":[],"yoast_head":"\nRECon Buzzes With Retail Technology Trends - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/recon-buzzes-with-retail-technology-trends\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RECon Buzzes With Retail Technology Trends\" \/>\n<meta property=\"og:description\" content=\"From augmented reality to the latest in analytics, ICSC\u2019s Las Vegas event highlighted the tech tools that aim to enhance brick-and-mortar retail.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/recon-buzzes-with-retail-technology-trends\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-24T05:52:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-05-24T14:43:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/RECon_JLL.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Paul Rosta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/recon-buzzes-with-retail-technology-trends\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/recon-buzzes-with-retail-technology-trends\/\",\"name\":\"RECon Buzzes With Retail Technology Trends - 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