Nordicum - Real Estate Annual Finland 2016 - Page 12

Enter: Eventification Urban grassroots activism is spreading – and real estate players need to adjust What is the relevance of Experience Economy in terms of real estate or, more simply put, space? When one looks at space not as a production system but as a valuable stage – engaging various producers, intermediaries and consumers – it becomes more than mere territory. Value is created not only from the mobility of goods and knowledge but also from the mobility of consumers. Ultimately, it’s the voting with your feet that wins the day. R esearcher Doreen Jakob put her own spin on Experience Economy by introducing ‘eventification’ which is defined as the process by which consumption and space are turned into events. The problem, however, is that the events themselves are not always as ‘inside-out’ as one should hope – meaning, in essence, that do not come from the community, but are introduced from the outside. Juha Kostiainen, Senior Vice President (Urban Development and Corporate Relations) for YIT Corporation has long studied the theme in depth. He points out that the whole concept of Experience Economy has been revitalized by citizens, as local, grassroots events have emerged as a response to mega-events. “Eventification means that various happenings can take place anywhere,” he says, adding that the phenomenon is rooted on the element of surprise – quite like a flashmob in its fascination, eventification comes from the community and resonates strongly with the natives. Going Viral One example of this trend is Restaurant Day, a Helsinki food carnival when anyone can set up a restaurant, café or a bar for a day. It can happen anywhere, too: at home, on a street corner in the park. Invented by three local food enthusiasts longing to see some buzz in the culinary department, Restaurant Day featured 45 pop-up restaurants in May, 2011, despite the fact that the event was very hastily put together. Today, less than five years late