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6 COMMERCIAL CONSTRUCTION & RENOVATION — MARCH : APRIL 2016 Michael J. Pallerino is the editor of Commercial Construction & Renovation. You can reach him at 678.513.2397 or via email at mikep@ccr-mag.com. EDITOR'S NOTE EDITOR'S NOTE by Michael J. Pallerino We want to hear from you At Commercial Construction & Renovation, we're always looking to showcase the best of what our industry is doing. If you have a project profle or a fresh perspective on how to keep our industry positively moving forward, shoot me an email at mikep@ccr-mag.com. We'd love to take a look. All about adapting H ere are some numbers you should know. A recent Forbes article showed that Millennials hold more than $200 billion in buying power. In fact, they will constitute up to 75 percent of the workforce by 2025. For example, instead of table areas designed to give private spaces to small parties, seating arrangements feature "hangout spaces" on either side of the restaurant that offer ca- fe-style couch and armchair areas for conversa- tion and coffee-drinking, not just eating. And the new layout offers extended hours – opening four hours earlier at 7 a.m. and closing one hour later at 2 a.m. The plan is to have patrons come in early to work at reservable tables, and to hang out after hours to listen to music, play trivia or take part in open-mic nights. What TGI Friday's and the scores of other brands are doing is creating a community-centric vibe for today's community-oriented gen- eration. An interesting study conducted by shopping center developer Westfeld Group provided a brief glimpse into what the future of retail might look like, including vintage clothing clubs, discounts for recycling old clothes and shoes and renting apparel via virtual-reality devices. The report, which intended to identify transformational consumer trends that will shape future suc- cess for retailers, shows that to- day's consumers – both Millennials and older consumers – want stores to offer learning experiences, such as cooking classes or ftness classes, or clubs and activities. In the conversations in and around our CCR Retreats and Summit, the need to continually change in our changing world is always front and center. There is no way around it – companies in our line of work have to be ready to adapt and adapt quickly. Have we reached the "adapt or die" part of the equation? That really depends on your plan of attack and whether or not your brand is designed for what your customers, and your customers' customers want and need. This much we know – with more than $200 billion in buying power in tow, your construction strategies had better have some play for the future at hand. With a steadfast reliance on technology, convenience and a desire to connect with a brand on a more personal level, they're helping shape everything and anything we do these days. Whether you're in the restaurant, retail or hospitality sector, it is imperative that you become Millennial friendly. Take what TGI Fridays' did with its experimental store redesign in Corpus Christi, Texas. The 10,000-square-foot WiFi-centric pilot location is a whole new cultural experience. In the conversations in and around our CCR Retreats and Summit, the need to continually change in our changing world is always front and center.