Press release from Cushman & Wakefield Madrid, January 29, 2020 – Infinity, the “Big Data” digital platform developed exclusively by Cushman & Wakefield together with proptech giant Boostcom, is celebrating its first year of operation. During these twelve months, the loyalty program has achieved 220,000 registrations among the visitors of the ten shopping centres – managed by the real estate consultant – that use the tool. This figure represents 15% of the total unique clients who visit these spaces each year and the result is an increase of 50% compared to the best reference cases at a global level.
Infinity, which uses Boostcom’s “The Mall Performance Cloud” technology, provides, through the interaction of visitors with the centre itself, highly relevant information on demographics, interests, consumption habits and customer behaviour. With the processed data, the mall has the ability to forecast behaviour and communicate with its visitors in real-time, sending hyper-segmented information.
The mix of personalized content, special actions and member benefits have increased engagement to unprecedented levels, with 50% of the members interacting with the project on a monthly basis. Among the benefits, collaborations have been made with more than 130 retailers that are already obtaining higher revenues thanks to Infinity.
Rafael Mateu, Partner and Director of Asset Services at Cushman & Wakefield, highlights that “the results obtained together with Boostcom in Infinity’s first year of operations confirm that customer knowledge will be the key to the future of retail. We are working on expanding the project to other shopping centres managed by Cushman & Wakefield in Europe”.
Peter Tonstad, CEO of Boostcom Group, is very pleased with the initial results and says that “together with Cushman & Wakefield, we are setting a new standard for shopping centre loyalty in Europe. C&W’s strategic approach to digital interaction and their operational expertise have played a crucial role in Infinity’s rapid success. This will enable C&W to generate substantial revenue for its clients in the coming years”.
The first annual penetration figures for Infinity, which has become a new industry benchmark, come against a backdrop of increased traffic to the shopping centres that make up Cushman & Wakefield’s management portfolio. Specifically, the centres managed by C&W show an increase of 2.3%, compared to the 1.9% decrease recorded by the ShopperTrak Footfall index (average for the Spanish market) in the last 12 months.