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