If you own your building in a major urban center, you understand that there are many things involved when managing a property. Commercial property owners have numerous responsibilities on both a daily basis and over the long term.
Yet, over the course of the pandemic, many cities have witnessed significant domestic migration out of urban areas. As a result, building owners now have the additional challenge of ensuring full occupancy of their commercial spaces.
According to research, since the onset of COVID-19, only 19% of Americans said they preferred living in an urban setting, rather than suburban or rural environments - that's down from 23% of Americans in 2018 who had a preference for the urban milieu. Throughout North America, many people decided to leave downtown cores, which in turn, has played a consequential role in the amount of foot traffic for commercial buildings.
Organizations recognize that for some team members the transition from the work from home (WFH) model will be a bit more challenging than for others. An excellent way of incentivization to increase foot traffic from the return to work in the office is with food. Providing free healthy snacks and free meals is a fantastic way to incentivize employees to return to work in the office setting.
Fortunately, building owners have retail property solutions with the help of Ritual - more precisely with the Ritual for Companies platform. One of the numerous benefits of Ritual for Companies is the opportunity it affords companies to welcome back team members to the office with location-based food credits that are activated by the location of your building.
Furthermore, corporate meal programs are available offering one-time or recurring credits for employees, group ordering options, and advanced office catering solutions, just to cite a few options. In addition, your organization will be contributing to the much-needed urban revitalization of metropolitan areas.
Ritual for Companies gives organizations the opportunity to provide team members with the invaluable opportunity to bond over a delicious office meal. This, in turn, will boost your team's productivity, employee engagement, and overall job satisfaction.
Commercial property management involves the daily management of office buildings, retail space, industrial space, and residential rental units.
Commercial real estate owners have had to pivot in the wake of the pandemic, as most employees across North America adopted the work from home (WFH) model. A June 2021 report found that in Toronto alone, the downtown district has experienced a 60% decline in foot traffic and consumer spending during the pandemic.
However, pandemic restrictions are being lifted, and luckily we are returning to a “new normal”. A great way to help increase foot traffic to any office building is by providing team members with incentives such as workplace food perks. Food provides an immense amount of happiness for each of us, especially when we’re given the opportunity to share a meal with others.
With the help of Ritual, commercial real estate owners can have their office tenants order from the best local cafes and restaurants, thus increasing foot traffic. With Ritual’s exceptional platform, online ordering for buildings has never been easier.
Since the onset of the pandemic, many commercial areas such as office buildings, food halls, and malls have faced challenges with pandemic restrictions. For a commercial property manager or a commercial property owner, Ritual for Companies is one of the best services that will help restore foot traffic to the metropolitan downtown cores of North American cities.
This welcomed revitalization signals new beginnings after a period of so much uncertainty. Especially, for downtown areas that often felt the brunt of the shift from in-person office work, to the work from home (WFH) model adopted by so many organizations out of necessity.
Obviously, the revitalization of downtown business areas is essential for recovery in the post-pandemic world. According to the Toronto Region Board of Trade, there were an estimated 2,500 small businesses in Toronto’s downtown core alone, affected by the ramifications of pandemic lockdowns. As more employees return to work in the office, these small businesses and local restaurants will reap the benefits of a solution like Ritual for Companies. Not only will there be a vital economic activity, but in addition, the sociability component is of equal importance as well.