The Norwegian technology company Plaace has developed a platform that matches shops and restaurants with the most suitable commercial spaces.
This is possible with the help of large amounts of data which gives insights into where consumers travel and spend their money. With this information, shops, cafés, and restaurants can easily determine where they are most wanted and accordingly where they should rent premises. Those who rent out premises can by turn use the data to find out what kind of tenants they should be on the lookout for.
Now Plaace scales up its analysis coverage with datasets from Prognosesenteret on the platform. The data provides an overview of all retail, hospitality, and service companies established in Norway, and give insights on how company turnover and considerations such as employee numbers evolve in specific areas.
“It gives users the opportunity to conduct competitor analyzes and dive into the branches of the various concepts. You will be able to see how each location performs and how attractive different areas and locations are from a market and competition perspective”, says general manager Snorre Jordheim Myhre in Plaace.
The footing of the data comes from public registers, but Prognosesenteret further develops them by calculating approximate turnover figures for the majority of companies that do not have accounts linked to the physical address. Then, SSB´s municipal and district statistics for the individual industry are used to calculate turnover per employee. All turnover figures are trimmed to match official figures for industry, municipality, and shopping center.
“The fact that that new companies are started up while others go bankrupt or change chain affiliation should also be taken into account. Therefore, this is a dynamic data set that is constantly updated – almost like a living organism. We do not only provide data but also assist with methodology”, says Bjørn H. Nygaard, Nordic leader of consumer insight in Prognosesenteret.
The collaboration furthermore includes a joint effort to improve the dataset based on feedback from users. The result is that better decisions can be made by retail-, catering- and real estate agents as fewer establish themselves in places where there is no basis for operation and both tenants and landlords avoid unnecessary expenses.
“Combined with data from Telia’s mobile network capturing the movement of people and payment information from Vipps and BankAxept, Plaace will be an invaluable tool when many actors expand in compliance with lifted covid-19 restrictions”, says Snorre Jordheim Myhre in Plaace.
The marketplace part of the platform is already live and ready to be used, free of charge. Here users can see demographic data for different areas, and profiles and advertisements from both tenants and landlords.
Now, the analysis section will be rolled out for paying users, initially to give them a full overview of what is happening in the commercial retail market. Soon, automatic analyzes and recommendations will also be presented for paying customers.
“Plaace is very satisfied with the collaboration with Prognosesenteret so far, and appreciates the strong professional expertise in retail and real estate that the company possesses”, says Jordheim Myhre.
“Prognosesenteret thinks Plaace brings innovative ideas to this market and looks forward to further developing the collaboration”, says Nygaard.
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- Norwegian prop-tech startup founded in 2020.
- Provides a data-driven platform to match businesses with the most favorable rental premises.
- Uses external data sources and analytics to enable tenants to establish themselves in the most lucrative premises, and let property owners choose the concepts that best suit their commercial space.
- Independent research companies that specialize in the Nordic construction, civil engineering, and real estate market in a broad sense
- Since its inception in 1978, the company has developed into the Nordic region’s leading supplier of high-quality market analyzes to the sector.