Cushman & Wakefield has formed a partnership with foot traffic analytics platform Placer.ai to equip the firm’s professionals to demonstrate key statistics about a property and its tenants to clients. Data, especially helpful in the retail sector, include the nearby competitive landscape, consumer foot traffic, engagement metrics, cross-shopping locations and more. The firm will deploy the platform across the U.S.
“In the current environment, it is imperative that tenants and property owners — especially in the retail sector — understand where they have the best chances of success and how a location can optimize the goods or services they offer,” said Barrie Scardina, head of retail for Cushman & Wakefield in the Americas. “By adopting technology solutions like Placer.ai, Cushman & Wakefield empowers clients to make well-informed, data-driven decisions about their portfolios.”
By harnessing mobile data from tens of millions of devices, Placer.ai applies the latest in AI, machine learning and big data analytics to generate accurate insights and behavioral predictions for any location or store. Cushman & Wakefield collaborated with Fifth Wall, a venture capital firm with which it has a strategic relationship, during the selection process to set a framework around choosing a technology solution that was a right fit.
“In today’s current environment, accurate and accessible data is more crucial to retailers than ever before. The future of retail will be defined by CRE leaders who embrace innovative thinking and data-driven decision-making,” said Koby Ben-Zvi, president of Placer Labs Inc. “We are incredibly proud to be partnering with Cushman & Wakefield, a leader that truly exemplifies these ideals. Enabling the organization to leverage this critical tool inspires an authentic confidence that retail’s recovery will evolve the industry into something brighter and more productive than ever imagined.”
Other proptech relationships for Cushman & Wakefield include a partnership with Matterport Capture Services to offer clients turnkey solutions to scan commercial properties in 3D.