It's no secret, the retail landscape is changing and stores and shopping centers are shuttering as a result.
An April story from CNBC stated that more stores had closed in the first four months of 2019 than in all of 2018.
PlaceWise CEO John Dee is well aware of these struggles and is optimistic a digital component will help boost the future of the retail industry.
“It's no surprise that retail is changing and shopping centers are struggling to keep up with those changes,” he told Colorado Inno.
Denver-based PlaceWise is a provider of digital services to the shopping center industry, delivering over 200 million digital engagements annually.
The company announced this week that it has merged with Norway's Boostcom to offer a comprehensive suite of digital solutions to the global shopping center industry, connecting physical and digital shopping experiences.
Dee said PlaceWise and Boostcom have very complimentary services, making the merger a natural fit.
The combined company will enable shopping centers to deliver a connected consumer experience across all digital channels. Together, it will serve close to 1,000 shopping centers in 20 countries, located in Europe, Asia, the U.S. and Canada.
"We're fundamentally changing the way people and shopping centers interact. Retail is changing, and digital is driving the evolution – and not just online. Digital holds the keys to retailer productivity and consumer satisfaction in the physical shopping center as well," Peter Tonstad CEO of Boostcom Group said in a statement.
In March of this year, Boostcom acquired iColumn, a company focused on digitalizing shopping centers in Southeast Asia.
The newly merged companies will continue to operate under their individual brands in their local markets, with 130 total employees.
Dee said the 32-person PlaceWise team will likely grow as a result of this merger, especially here in Denver.
While retail has struggled in recent years, Dee said the correction for over-building is soon coming to a close. He is optimistic for the future of shopping centers that embrace digital options.
"Digital improves the physical experience in all regards, at a concert, baseball game and in the shopping experience," Dee said.
