That’s #RevoLiverpool2019 wrapped upDigital Manager
The stands are packed away. The business cards are all exchanged. The great and the good in property and retail have left Liverpool and returned to normality. Revo 2019 is over. It’s not all just branded yo-yos and free chocolate. Year-on-year there is a surfeit of insightful content in the conference programme with topics ranging from technology, through to distribution and logistics, and to the halo effect interaction between physical stores and online retail channels. So, aside from new friends and, perhaps, a slight hangover, what will we take away from Revo 2019?
We learned that having a digital presence and a physical store is an absolute must for retail players. It could be argued that the most dominant retail narrative of our time is that of a struggling high street and its supposedly doomed population of bricks and mortar shops.
Reports, articles and studies announced the death of the traditional retail store as a victim of progress. However, this well-worn narrative misunderstands the complex relationship between on and offline retailing. Market analysis from CACI, released during Revo, showed us that online sales are 106% higher within a store catchment. It means for every £1 spent online outside the store’s catchment there is just over £2 spent online inside it. Click and collect services and digital returns via shops further deepen the symbiosis. It would seem that stores have become an essential showroom for a digital purchase. This marriage of convenience set tongues wagging in Liverpool this week.
We learned of the rapid growth in the importance of tech. Walking around the hall you couldn’t fail to notice the prominence of innovating and exciting technology. Holographic billboards, customer banking analytics, and mobile monitoring of maintenance staff were all being demonstrated at this year’s Revo. Car park monitoring software seemed to be a hot topic, with several stands dedicated to data streamlining solutions for retailers and occupiers. The hypervision technology company, Encore Motions, caused a stir with its vivid examples of holographic product marketing for shops and shopping centres in a similar vein to billboards. The products are realised in 3D holograms, which are spun to give a 360-degree view of the item, and is managed through Encore Motions’ platform which then schedules media campaigns for the client. The mood at Revo was one of innovation and optimism. Where might retail as a sector be heading next?
We were also excited to be supporting Capital & Regional this year, who’s community strategy – operating assets as community hubs rather than mere shopping centres – signified a shift away from arbitrary asset management strategies towards a hyper-localised and customer-centric approach. Industry leaders were excited to get involved in the community movement, offering their heartfelt views on what community means to them. Check out @CapRegPLC’s social channels for key insights.
Also at Revo and supported by Innesco was Hines Ireland, showcasing its Cherrywood project, currently being developed in south Dublin and hailed as Ireland’s Future of Retail. Make sure to follow @CherrywoodTC on Twitter and LinkedIn for updates on
We were reminded that location and community are central to what we do. Revo itself underscores the importance of a sector coming together under one room to reflect on its course and what the horizon holds. The changing retail environment is driving and challenging us to be more creative, more considered, and to actively seek out innovative ways to deliver value for landlords, retailers and consumers. From Innesco’s experience at Revo Liverpool 2019, the future is a bright one.