The office market is rebounding according to Link Asset
The Hong Kong office market has started to rebound as online and traditional retail channels are not mutually exclusive, said Greg Chubb, Link Asset Management’s new international chief operating officer.
He wrote in an article that there is a clear shift underway as occupants move from secondary quality buildings and locations to higher quality office districts and newer buildings with infrastructure, services and other superior characteristics that contribute positively to well-being.
The hybrid work model was common before the pandemic, but the office remains an integral part of doing business because nothing can beat face-to-face and in-person interactions, Chubb said.
He also pointed out that online and brick-and-mortar retailers are not a zero-sum game and in fact, their coexistence is probably the best way for all retailers to maximize their profits.
Omnichannel retailing is an extremely valuable strategy for businesses, and brick-and-mortar store networks play an important role.
For example, the “click and collect” model has been particularly successful for supermarkets, as it’s a very convenient way for families to quickly pick up groceries on the way home, Chubb said.