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CEOs Speak: Westfield, Under Armour Leaders Talk the Future for Retail

Imagine driving into a mall parking lot and getting a welcome alert on your smartphone because your license plate was recognized, then getting directions to an available parking space closest to the stores you want to go to, because the mall knows you like that.

That’s just part of what Westfield co-CEO Steven Lowy envisions for the malls he manages, and the notion isn’t all that far off.

But to get it done, brands will have to learn to share.

“Collaboration is the new competition,” Lowy said. “Traditionally, our industry has protected proprietary intellectual property above everything else, but things are changing. Businesses are beginning to realize that their biggest threat isn’t one another, their biggest threat is actually the status quo.”

Read more at Sourcing Journal.