Based in Oslo, Norway, Plaace provides data insights to help match prospective retail tenants and properties. As of September 2021, the solution also features movement data from Telia Crowd Insights, which enables clients to see how, when and where people move around and use a certain area.
“If you’re a property company looking to improve your tenant mix, or a retail company looking for the right location for your next branch, this is a service you need,” says Plaace’s CEO and co-founder, Snorre Jordheim Myhre. “As a retailer, you probably have a limited expansion budget, so it’s important to understand the potential of an area before deciding to invest in it.”
Launched in April 2021, Plaace’s platform uses state-of-the-art data sources and analytics to enable prospective retail tenants to establish themselves in the best possible locations. At the same time, it also enables property owners to choose the most suitable tenants.
For retail property owners and prospective tenants
“As a property owner, you want to rent to the tenant with the best potential to increase turnover and traffic in the area. If you have an attractive space, you may have multiple potential tenants to choose between. Now, you can assess their suitability with the help of Plaace’s data,” continues Myhre.
Plaace offers two types of services: the basic, free model allows anyone to sign up and create a user profile, in order to view available spaces and access basic data on demographics. The premium model is significantly more complex, offering detailed analytics, including debit card data, as well as estimates of annual turnover for existing businesses and demographics from Statistics Norway. It also includes movement data, provided by Telia Crowd Insights.
“Every day, we gather signals from our cellphone towers around the Nordics,” says Lars Helge Richter Strand, business developer at Telia. “The average person pings into the network between 200 and 400 times a day. In Norway alone, that adds up to some 600 million signals a day.”
Aggregated and anonymized data
The first thing Telia does with the data is to anonymize it, so no one can ever be identified. The data is aggregated into groups of at least five individuals, as required by the European Privacy Regulation (GDPR), and, every day, the identity from each cellphone is rehashed to preserve the user’s anonymity. With a market share of more than 40% in Norway, Telia is uniquely positioned to gather and analyze movement data that enables users to understand how and when people move between different parts of the country.
According to Myhre, the data provided by Telia Crowd Insights is one of the most central features of Plaace’s premium model.
“Knowing how many people are in an area is crucial before deciding whether or not to establish a branch there,” he says. “A typical downtown area has very few actual residents, but a lot of people moving around it. Telia’s data tells us not only how many people are in an area and how long they spend there, but also if they live there, work there or if they are just visiting and from where.”
“These are insights nobody else is able to deliver and our users are super excited about them” adds Myhre.
Going forward, Plaace plans to expand its service offering to include not only data analytics but also a recommendation algorithm to help companies to make the best expansion decisions.
“Telia is not only a credible partner delivering high-quality, reliable data, we also appreciate how forward leaning and enthusiastic they are about our product,” says Snorre Jordheim Myhre, concluding: “We are really excited about this collaboration and the potential we have to work together as partners to create the most value for our customers.”
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