New Balance

Bruno Vaz

Bruno Vaz is currently working as the Senior Director Global Head of Real Estate at New Balance. With an experience of 20 years in International Real Estate & Retail Management, he has an immense track record of working in various store banners. He is an enthusiastic communicator possessing multilingual capabilities. Before joining New Balance, he had worked with Walmart for more than 6years. His extensive experience in project management, design, construction, asset maintenance, property management, portfolio management, remodels, and retail has allowed him to work with International Top Global Companies. He is an MBA graduate and proficient manager with an experience in leading diverse and inclusive teams.

Could you shed some light on the recent trends in the real estate market?

The real estate market is experiencing a lot of recent trends. However, the omni-channel capabilities in the retail industry have gained the attention of customers. The omni-channel capabilities assure customers of a seamless shopping experience not only in standard brick-and-mortar stores but also in online mode. The store can perform as a logistics hub for deliveries. Moreover, the new digital capabilities that involve marketing through websites, apps, social media, and email are pleasing customers. Fleet management is also making its way for on-time dispatch and routing of products for proper asset management. Therefore, retailers are spending huge amounts to keep the fleet alive and updated for customer needs.

What are some of the significant challenges you have observed in the market?

Many retailers are facing issues of outdated stores due to a lack of investment in updating and maintaining the fleet. It requires investing more in updating the fleet and bricks and mortar to keep the store updated for customers' satisfaction. The key metrics to a retailer's success are keeping the stores alive by meeting customers' expectations and serving their needs. Retailers must maintain the look and feel of the store and keep an updated fleet. I would suggest updating the store based on the concept of omni-channel capabilities of marketing. It has enabled seamless shopping by connecting everything through the internet. Now, customers can navigate e-commerce and check on the delivery of the product. Therefore, a retailer must focus on creating a combined easy shopping experience for customers in online as well as offline mode.

“We analyze the competitive environment among the peers and evaluate the sales volume before investing capital.”

Could you tell our readers about the measures you are taking to reduce overheads and improve investments?

Inflation has impacted global investment markets, and despite excellent sales, retailers are struggling to keep their fleets updated in an efficient manner. Due to the pandemic, construction and equipment costs have increased, which has impacted retailers' ability to maintain their fleets. Investors are also facing issues in allocating money. To address this, we are investing time in understanding the age of the fleet and setting priorities before investing capital. Based on the socioeconomic levels of the market, we analyze the competitive environment among peers and evaluate sales volume because higher volume stores will generate more CapEx requirements. Considering these key metrics, we are investing capital and generating CapEx to maintain our assets and earn a return on our investments.

Could you shed some light on the technological advancements that help solve these issues?

In today's business scenario, data is integral to decision-making in any industry. Data-driven decisions are mandatory because they are based on facts, metrics, and data, rather than gut feelings, and help make strategic decisions that align with business goals. Data has helped retailers make the right decisions and attain their business objectives.

Could you tell our readers about the impact of the pandemic on the global retail market?

The pandemic had an adverse impact on the global retail market. Many countries experienced total lockdowns that affected FX rates, impacting American companies operating there. Retail companies are striving to attain their business goals, and the post-pandemic world has presented many opportunities for companies to become stable and economically strong. Companies are investing in omni-channel capabilities and fleet management, resulting in a considerable return on investments.