Innovation working groups
In 2022 we have started so-called innovation working groups. These small working groups consist of a number of colleagues and they work on a specific topic within the innovation scene.
They brainstorm, research the markets for existing solutions, develop a proof of concept and do pilot projects. The first working group was set up to push business adoption of Location Intelligence. At the beginning of 2022, we collaborated with an advisor to undertake a scan of the Location Intelligence market to identify the optimal provider for Redevco. We identified a number of potential providers and explored their compatibility with our business needs.
Starting pilots with Location Intelligence providers
We are now in the process of testing these providers. We already have pilots running in Belgium in four retail parks, one at Promenade Sainte Catherine in Bordeaux, another one at Parque Corredor in Madrid
and are about to start a pilot for ten assets in the Netherlands as well as a couple of assets in the UK. The pilots have allowed us to compare providers; we see that the market and thus their platforms and
services are developing rapidly. We decided to not contract one or two providers to cover all countries, but to continue our pilot approach in 2023 with the purpose of creating a blueprint for specific use cases
and further increase business adoption. Some of these use cases for asset management and transactions are:
- Impact of marketing campaigns on visitor numbers
- Catchment area potential of the Redevco asset (based on visitor origin)
- Evolution of traffic performance versus competitors
- Penetration rate
“We have done an inventory at country level focusing on best practices, project learnings and business needs. Early 2022 we kicked off with an ideation session. As an outcome we are piloting technologies and digital solutions, amongst other things, and explore how we can accelerate on our Mission 2040 and to lead the transformation of cities to become more liveable and sustainable.”