In my career, particularly during my time as a center manager between 1996 and 2000, the landscape of retail was vastly different. In those years, the topic of data collection simply wasn't on the table; it was a non-issue. But as the industry has matured, I have watched data transform from a background detail into what I consider "gold"—a very hard currency that defines the success of a physical location.

Today, the success of a physical shopping center depends on how well we measure our efforts. As we’ve discussed, data allows you to actually measure whether a campaign is "doing okay" or if the results are falling short. However, there is a significant gap we must bridge if we want physical retail to remain resilient.

The Widening Data Quality Gap

Retailers were the clear early adopters in this space. They began building customer databases 15 to 20 years ago, starting with very simple databases and treating that information with extreme care. They understood early on that knowing the customer was the only way to survive.

On the other side, center management and marketing teams have only recently begun to catch up. While center management companies have started developing their own tools and getting better at the process, a distinct quality gap remains. There is still a distance between the sophisticated data a retailer holds and the metrics collected by center management. To me, this siloed approach, where information is guarded rather than shared, is a significant hurdle to progress.

The Case for a Data-Sharing Model

The most innovative strategy for the modern era should be a data-sharing model between retailers and center management. I am convinced that the more data you have, the better you can serve a customer.

This isn't just about spreadsheets; it’s about the "data density" and quality required to make a physical place stronger. If someone is able to develop the right tools and find the right argumentation to bring both sides together, the winner will be the physical place itself. By sharing this "gold," we can improve the quality of the entire shopping environment and make physical retail better for everyone involved.

The Art of the Negotiation: Authenticity Over Games

Negotiating these models is a "tricky and hard process." It requires convincing both sides that they have distinct advantages. When I was a young, less experienced center manager, I relied on one key principle that I believe is still missing today: Authenticity.

In today's market, I see too many "games." Both sides often play games by talking about one topic while secretly combining it with another. This constant "deal-making" and maneuvering leads to a situation where you can never actually clarify one specific topic in detail. My strategy has always been to move away from that:

• Be Open and Honest: If you approach a tenant with a clear, honest message, you can negotiate much more effectively than if you are playing a part.

• Aim for a Clear Yes or No: My goal was always to reach a definitive answer. I found that there should be nothing "in between"—just a straight point that allows everyone to move forward.

• Establish the Win-Win: You cannot convince people to share their most valuable assets unless you can prove it is a "win-win" for both the brand and the center.

Establishing this process successfully is a massive step. It takes a lot of work to bring people to the table and find a fair way to share data, but with the right tool and an authentic approach, it is the most successful path forward for physical retail.