June 2, 2016 | Bart Waldeck
ICSC RECon 2016 – Store Lifecycle Management Darwinism
The dust has finally settled on ICSC RECon 2016, and now that I’ve had a chance to catch my breath, I can honestly say in the sixteen years I’ve been attending, this year’s show was the most successful of my tenure. The next logical question is “why?” Why was this year’s show so great? Why did we have more meetings than any other previous ICSC? Why did those meetings have more substance than the usual “drive-by” appointments we’ve all experienced before?
Yes, there was high traffic and energy - more than 36,000 anticipated attendees. Yes, the weather was fantastic – mild by Vegas terms with temperatures in the mid-80s. While these factors set the stage for a successful ICSC, upon reflection I think the real reason is much bigger. In retrospect, this year’s ICSC RECon show was a microcosm of what has been playing out in the broader predictive analytics and store lifecycle space over the last year plus. What’s really happening is Store Lifecycle Management Darwinism. Those who are innovating have captured the minds and hearts of retail and restaurant companies. And what’s really exciting for us here at Tango is being at the forefront of that innovation.
Tango is the first provider to deliver a true end-to-end strategic store lifecycle management solution – Predictive Analytics, Retail GIS and Store Development – what we call Total Solution. Most retail and restaurant companies wire together 3-8 systems from different companies at a heavy cost in an attempt to cover the same solution breadth – Predictive Analytics | Market Planning & Site Selection | Program & Project Management | Lease Administration | Facilities Maintenance | Franchisee Lifecycle Management | Data | Geospatial Location Platform.
And it’s not just the breadth of a single solution, but how we’ve developed our capabilities. Take Tango’s Lease Administration solution, which we showcased at ICSC, as an example. We’ve taken a fresh look at an old requirement, and gauging by the response of retailers, our user-first approach and ground-up compliance with the new FASB/IFRS regulations has struck a strong cord. If ever the Albert Einstein quote applied it’s here - “We cannot solve our problems with the same thinking we used when we created them.” It’s amazing the reaction you get when you show someone who has spent the last 15+ years doing the same thing that there’s a better way.
Innovation has also come in predictive analytics and the new data sources fueling the modeling process. Tango continues to lead this space as evident in our two data partnership announcements at ICSC RECon.
First, we deepened our partnership with UberMedia with the release of SiteImpact™, a new service that enables retailers and restaurant companies to quickly and cost-effectively determine the sales cannibalization impact of proposed new locations on existing stores. You can find the full press release here. Second, we announced a new partnership with PlanetRisk and the incorporation of their innovative CrimeRisk℠ solution into Tango models to help retailers and restaurant companies better understand the localized risk of criminal behavior and leverage that data to make better real estate strategy decisions. You can read more about this partnership in our recent press release.
The success of ICSC RECon 2016 served as an emphatic proof point that the breadth of Tango’s products and services, and the fresh perspective we’ve taken to solve predictive analytic and store development problems, has tapped into a deep need for retail and restaurant companies. That the old way of doing things cannot survive Store Lifecycle Management Darwinism.
Download the Making Store Lifecycle Management Strategic white paper.