It's Official: Live, Play, Work Is the New Live, Work, Play

NEW YORK, July 19, 2021 /PRNewswire/ -- The Brand Guild, the integrated communications agency with headquarters in New York City and Washington DC, today released its 2021 Commercial Real Estate Trend Report, titled Live, Play Work: The Great American Shakeup. The extensive report analyzes consumer behavior and the future of brands through the lens of commercial real estate.

In partnership with market research firm Lucid, The Brand Guild surveyed about 1,000 Americans across the country, with an additional focus on NYC, DC, Houston, and Miami. The survey asked consumers to define if and how their priorities have shifted between living (defined as meeting the needs of day-to-day life, including housing and transportation), working (defined as one's career, including work environment and length of commute) and playing (defined as leisure time both at and away from home).

"We built this report to study the reciprocal relationship between the evolving real estate industry and consumer behavior," said The Brand Guild Co-CEO Barbara Martin. "This relationship reveals so much about why things have changed, and which of those changes are likely here to stay, and gives us a great roadmap as we continue to help our clients across industries adapt and innovate post-pandemic."

Key points from the report include:

• Pre-covid, American priorities were 1) Live, 2) Work, 3) Play. That has now shifted to 1) Live 2) Play 3) Work. The takeaway: business--whether the CRE industry or businesses that employ these consumers--need to meet consumers where they are;
• 50% of Americans said that Covid-19 has made them consider moving to a new area. Where would they move? 82% thought suburbs were better than cities (and even 73% of city dwellers agree);
• People are willing to make sacrifices to continue to work from home: 52% are willing to have a longer commute in order to work from home a few days per week. And 65% of employees predict that open offices will be a thing of the past;
• The buying power of Gen Z is quickly increasing, which is influencing purchasing when it comes to sustainability--4 out of 5 consider sustainability an important factor in deciding on purchasing or renting their next home--or consumers voting with their wallets: 28% said they were more conscious than last year of political figures and policies supported by the companies they purchase from.

In addition to the survey, the report draws on expert insights from top executives across consumer brands and commercial real estate, such as VC firm Lerer Hippeau, online real estate marketplace Zillow, international developer Skanska, American furniture maker Room & Board, handbag company Dagne Dover, and more.

"It remains to be seen whether these shifts are a temporary reaction to the pandemic or the dawn of a lasting reprioritization," said Jayne Sandman, Co-CEO of The Brand Guild.  "But what can't be ignored is that consumers see this as a seismic shift, and businesses, from real estate developers to retailers, need to meet consumers where they are — and do it quickly."

For a deeper analysis of these trends, please refer to the full The Brand Guild's Commercial Real Estate Trend Report here.

About The Brand Guild
The Brand Guild is a fully integrated agency that builds and grows the most powerful brands in consumer lifestyle, food & beverage, and real estate. Our holistic approach to brand creation, strategy and storytelling creates critical momentum for our client-partners through a comprehensive suite of services that includes public relations, marketing, content, design, experiential and branding. For more information, please visit www.thebrandguild.com and follow @thebrandguild.

SOURCE The Brand Guild

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