Dottid Retail: Powering In-Person Experiences

Last year was a tough year for brick-and-mortar retailers, but with the return to in-person work and increased consumer spending, the retail sector is booming! That’s why we are excited to announce Dottid Retail, a lease management workflow solution specific to retail property owners.

Several sectors in CRE were significantly impacted by the shutdowns and social distancing measures of 2020. The retail sector, however, bore the brunt of that impact. Reduced traffic directly resulted in reduced sales, which took a dramatic toll on retailers’ bottom line. Last year, a record 12,200 retail stores closed, continuing a trend that had been accelerating in recent years due to the shift to online commerce. 

This year, however, retail is roaring back! Companies are posting record-breaking sales. Traffic is up. And all of those purchases that consumers had put off last year because of economic uncertainty—those transactions are being fueled by a return to the office, a return to school, and consumers’ overall desire to return to in-person experiences related to dining, shopping, and entertainment.

(Seriously, though. If you’ve ever tried to buy a good pair of running shoes online, you’ll know that there are just some things you’re better off buying when you can try them on in person.)

Photo by Mike Petrucci on Unsplash

This July, retail sales were up 15.8% over last year, according to the latest Census Bureau data. Sales at clothing stores were up 43.4% while department store sales increased 24.3%. What’s more, retailers are closing fewer stores than anticipated.

What does that mean for the retail sector? Retail tenants are renewing or signing new leases, and earnings are expected to continue to rise in the sector. The retail-leasing market has more than demonstrated its resiliency in 2021, which makes Dottid Retail the right product to help your team capitalize on this moment.

Dottid Retail was designed to give asset managers and their leasing teams the appropriate data, visualizations, and processes to keep up with today’s increasing retail demand. For example, retail stores are demanding more flexible rent terms due to the ever-evolving nature of the retail asset class. Dottid tracks these details throughout the lifecycle of the deal.

“By bringing tremendous attention to detail, while prioritizing ease of use and efficiency, Dottid has built a powerful product that serves the retail space,” said Dottid Chief Product Officer Alex Hibbard. “We understand that retail asset management and leasing is complex, that is why we created a product that streamlines the entire deal process by providing leasing teams with the software they need to operate at the highest level."

With Dottid, users have access to valuable data at their fingertips. We strongly believe that retail owners and asset managers need the right data to make better decisions about their assets, especially as the asset class bounces back after the pandemic.

Not only is Dottid Retail built specifically for the needs of the retail asset class, but it was also designed during a time when the retail sector was looking for innovation and growth to drive their asset class forward.

COVID-19 left the retail sector of CRE particularly exposed, but the sector is making a strong comeback as the industry begins adopting technology to streamline deals, communicate faster, and enhance consumer experiences which ultimately lead to increased revenue for all stakeholders. Technology enables retail asset managers and brokers to be more resilient during times of uncertainty and to quickly adapt to unforeseen challenges with better data. Dottid Retail gives users the competitive edge they need to get deals done.

“We specifically created Dottid Retail with our clients in mind. That’s why users can track key information like exclusive uses, zoning, and traffic count,” said CEO and Founder, Kyle Waldrep. “Dottid Retail addresses a huge need in the asset class for better data and workflow solutions, and we are releasing new features every month to transform how Commercial Real Estate professionals buy, lease, and manage their properties.”

Keenan Hunn (Sr. Software Engineer) & Kyle Waldrep (CEO and Founder)

Schedule a demo today to learn more about how Dottid Retail can help your company adapt to the demands of these changing times and position your company for many years of successful returns.