It has been one week since Motionloft participated as an exhibitor at ICSC’s annual real estate convention, RECon. We had a great time connecting with the industry in Las Vegas and the experience was invaluable. Not only were we able to introduce commercial real estate to the idea of real-time pedestrian and vehicle data, we learned a great deal about how the world of CRE operates. The contacts we made at the convention indicate continued rapid expansion of the Motionloft network and a firm interest in our data.
Until now, many property owners, brokers, developers, and retailers have avoided dealing with pedestrian data, even though they recognize the clear need and value of having access to such data. The reasons they gave us for not knowing the number of people who are walking by their properties included lack of access to that service, that the existing information is mainly guesswork, outdated or unreliable, and that the data they are able to collect provides only a snapshot. At RECon, we were able to educate CRE professionals about how our sensors are reliable and accurate in counting numbers of both pedestrians and vehicles. We also discussed the value of ongoing pedestrian and vehicle data – from initial property development to assessing a location’s value during leasing and even for retail staffing or promotional decisions, the analytics provided by Motionloft show not only what is happening at that moment, but also trends as they occur over time. Add to this the ease of access of our interface, and one struggles to find a valid reason to not get up to date (and ahead of the competition) with Motionloft. At the convention, it was clear to us that the world of commercial real estate is more than ready for data innovation.