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By associating experimental data and gut intelligence, experts from Colliers International have given their professional forecast regarding what commercial real estate industry might face this 2015.
1. According to President Craig Robinson, the location of the commercial space will weigh more above other factors to consider in commercial properties. Clients will not focus on the high cost as long as the space caters their needs. This prediction was backed by the fact that firms decided to stay within the central business districts despite the tempting low cost offered by suburban.
2. Exec. Managing Dir. Chris Zlocki agreed with Robinson’s forecast. Tech firms may be willing to relocate to other technology hubs depending on its funding and target employees.
3. Meanwhile, Chief People Officer Mindy Geisser predicted that companies may face problems regarding employee retention as Millennials join today’s workforce. Unlike Gen Xers (those who were postwar survivors) and Boomers (children of Gen X), Millennials willingly embrace change in career paths. As a result, tech firms would need to persuade the new generation to consider commercial real estate as a practical career option.
4. In the field of retail industry, Retail Services National Director Anjee Solanki foresees a significant breakthrough. Since smartphones has been part of everyone’s lives, mobile payment will advance the cashless experience. In the same way, retailers can propose customer loyalty awards. This cashless transaction trend will also eliminate credit cards in the future. More people will choose mobile payment because it eliminates issues in security, processing and reporting.
5. Lastly, IT Manager Saku Hyttinen revealed that the rapid change in the field of information technology will continue. The focus of the industry will be shifted from maintenance and fixes to business services. IT firms will strive and try their best to meet the needs of their market.
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