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TOP OF THE WEEK TO YOU!
(by realwired! CEO, Brenda Dohring Hicks)
Top of the Week to You! is designed to offer the inside scoop and latest of what's important in the world of technology as it relates to the commercial real estate industry. |
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Maybe We Need to Hang Out with Younger People
On Christmas Eve, 1924, a group of industrialists held a secret meeting in Geneva, Switzerland. There was no official agenda and not a single man present would confirm the meeting ever took place. Yet, what transpired at that gathering would come to define the future of consumerism. The group became known as the Phoebus cartel, and their particular concern was the longevity of light bulbs. There were representatives from all the big electrical companies of the day--Osram, Philips, Tungsram, General Electric, and Compagnie des Lampes.
The light bulb invented by Thomas Edison in the late nineteenth century could burn for 1,200 hours. Further developments in the technology of incandescence led to an improved light bulb that could last indefinitely. One only need visit the fire station in Livermore, California to see a light that has glowed continuously since 1901, and still burning. Today, you would be hard-pressed to buy a light bulb anywhere in the world that will burn for more than 1,000 hours.
Obviously, a light bulb that never burns out is not good for business, and so at this fateful meeting, the notion of built-in obsolescence was born. It has been defining our lives directly and indirectly ever since. Buy a printer, for example, and it will stop after 100,000 pages. It's controlled by a microchip, which if hacked, can at best, add another few hundred thousand pages to the clock. The same applies to refrigerators, vacuum cleaners, clothes dryers, cars, and of course the first iPod that hit the market in 2001. Products that run on irreplaceable lithium batteries will not last forever and the need to replace what has become an "essential electronic item" keeps the wheels of consumption happily turning.
Recently, I spent some time playing LEGOs with a bunch of kids. As I discussed brands and toys with them, I realized that this younger generation's view of brands is likely to bring about another fascinating change. As they built a giant LEGO castle, I noticed that they followed the instruction manual to the letter. I made the mistake of positioning a flag on a spire facing in the wrong direction. I was quickly informed that if I did not correct it, the castle "would not work." Bear in mind that this is a generation born with a mouse in their hands and a computer screen as a window on the world. They are well aware that if a "dot" is placed incorrectly in an email address, their message will bounce back. What was fascinating, and somewhat scary, was that I was witnessing a new generation of planned obsolescence in action.
Indeed, these kids were born to ever-newer versions of software, hardware, and games. For them, it is perfectly normal to assume that Windows 8 is in the making, just as they're purchasing the newly released Windows 7. And, as sure as night follows day, they know that when they buy their iPhone 4, an iPhone 5 is just around the corner. Popular video games like Halo and Super Mario Bros. come in ever-expanding series. There's version 1, 2, 3, and still counting.
It was fascinating to listen to their conversation about brands and products. One kid wondered why Coke didn't add a version to their product. He thought Coke 5.0 would be good place to start. Another wondered why his Jif peanut butter didn't have a version number. "I mean it's been around for so long, how do you know if something about it has changed if it doesn't have a number?"
While those of us with gray in our hair are often heard muttering, "They don't make things like they used to," this generation has no problem with products that are upgraded while the older version remains perfectly functional. These kids were puzzled by products with no version numbers. It was hard for them to conceive that the Jif peanut butter that first came on the market in 1958 was the same product in 2011.
So is good enough just that or should we strive to seek perfection through an ever evolving version of the original? It is funny to think that our addiction to "disposable" was created by a handful of white-haired men. In this generation's need to build a better version, our old ways of leaving good enough alone will be replaced with Good Enough 2.0. Where does your version of doing business fit in?
Click here to join our blog discussion or simply shoot me an email when you get a chance.
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Hot Deals/Leads
Hooters of America, Inc. trades as Hooters at 455 locations nationwide and internationally. The restaurants occupy spaces of 5,000 sq.ft. in freestanding locations and power and regional centers. Plans call for one to two openings within the Atlanta, GA metropolitan area during the coming 18 months, with representation by The Shumacher Group. Typical leases run 10 years with options. A vanilla shell and specific improvements are required. Preferred demographics include a population of 60,000 within three miles earning $65,000 as the average household income. The company is franchising. For more information, contact Harold Shumacher, The Shumacher Group, 3188 Saybrook Drive, Atlanta, GA 30319
Hy-Vee, Inc. trades as Hy-Vee Food Stores at 233 locations throughout IA, IL, KS, MN, MO, NE, SD and WI. The supermarkets, featuring bakery, floral, gift, home and garden and photo departments, as well as a pharmacy, occupy spaces of 35,000 sq.ft. to 85,000 sq.ft. in freestanding locations and lifestyle, power, specialty and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 20 years. For more information, contact Dennis Ausenhus, Hy-Vee, Inc., 5820 Westown Parkway, West Des Moines, IA 50266
Giant Food Stores, LLC trades as Giant and Martin's at 185 locations throughout MD, PA, VA and WV. The supermarkets, featuring deli, bakery, produce, floral, meat and seafood departments, as well as offering health and beauty items, pet supplies and natural food products, occupy spaces of 30,000 sq.ft. to 73,000 sq.ft. in freestanding locations and lifestyle, power and strip centers. Plans call for four to six openings throughout the existing markets during the coming 18 months. Typical leases run 20 years. For more information, contact Joe LaCagnina, Giant Food Stores, LLC, 1149 Harrisburg Pike, Carlisle, PA 17013
Meijer, Inc. trades as Meijer at 199 locations throughout IL, IN, KY, MI and OH. The stores, featuring a full-service grocery department as well as apparel, automotive, home décor, health and beauty, electronics and pet supplies departments, in addition to a pharmacy, occupy spaces of 156,000 sq.ft. to 192,000 sq.ft. in freestanding locations and power centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. A land area of 15 to 25 acres is required for freestanding locations. For more information, contact Mike Kinstle, Meijer, Inc., 2929 Walker Avenue Northwest, Grand Rapids, MI 49544
Like these leads? Want More? Go to the Dealmakers website for a Subscription. Dealmakers, the nation's weekly news source on retail real estate. |
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