Newly-released data from the American Institute of Architects (AIA) indicates that retail construction is on the rise following the deleterious effects of the recession on corporate spending. Chains may benefit from having strong, updated bid management software and change order software in place as the pace of building increases.
“Spending on hotels, industrial plants and commercial properties are going to set the pace for the construction industry over the next two years," predicted the AIA's chief economist, Kermit Baker.
The AIA data, collected twice a year from several construction industry forecasters, has retail's rise in 2012 at 5 percent, followed by a very robust 9.9 percent in 2013. The institute chalks the increases up to corporate spending making a comeback as profits have largely risen to their pre-recession levels. Commercial development of all kinds is set to outpace the numerous economic forces which have hobbled it in the past few years and lead an overall recovery in the U.S. construction and design industry.
Constructech magazine reports that the contractors who are undertaking these new developments are prioritizing data management more than ever. Retailers with strong systems in place to dispense change orders or information requests could be better positioned for a strong working relationship between retailer and builder.
