A Stockholm shopping mall: rents on real footfall
One measurement, three commercial conversations: tenant rents, advertising value and tenant satisfaction, all resting on visitor data both sides trust.
Rent discussions in a shopping mall have a structural problem: landlord and tenant each hold their own numbers, and neither fully trusts the other’s. A Stockholm shopping mall removed the problem at its root by putting the relationship on measured footfall, one number, produced the same way for everyone, visible to both sides.
Rents on real footfall
The mall moved tenant relationships onto footfall-based rents, built on visitor data both landlord and tenants trust. That changes the tone of every negotiation: instead of arguing about whose estimate is right, the conversation starts from what actually happened in the corridor outside the unit. How footfall data supports lease negotiations in general has its own page; this mall ran it as standing practice.
Three conversations, one measurement
The same numbers valued advertising space inside the mall, priced on measured audience rather than claimed exposure, and improved tenant satisfaction, because a neutral measure took the friction out of the relationship. One measurement carrying three commercial conversations: rents, advertising and tenant dialogue. That is the economics of mall measurement in one sentence: the data pays for itself several times over, in conversations that used to run on opinion.
The property view
For an operator, the mall-wide picture, every entrance, floor and food court on one anonymous measure, is what makes the commercial applications possible. The full approach for property owners is on mall operators & property owners, and the retail context on visitor analytics for retail.
Key features
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Footfall-based rents
Tenant relationships moved onto visitor data both landlord and tenants trust.
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Advertising, valued on data
The same numbers priced advertising space inside the mall, on measured audience rather than claims.
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Trust between parties
One neutral measure improved tenant satisfaction, because the number was nobody's opinion.
At Ray our motto is customer success, and we are excited about our partnership with Bumbee Labs. Complimenting the seamless Wireless provided by Ray, our customers will now be able to leverage the deep analytics provided by Bumbee Labs and take informed business decisions to aid their growth.