Vancouver, BC – Tribe Property Technologies (TSXV: TRBE) (“Tribe” or the “Company”) has partnered with Luxer One, a leading developer of smart locker technology to bring secure and versatile parcel storage to Tribe communities across Canada.
“As we enter one of the busiest times of year for online shopping and package delivery with Black Friday and Christmas, it is important to acknowledge the massive consumer shift to online shopping that has recently impacted residential community living,” said Tribe CEO Joseph Nakhla. “Five years ago, a condo or apartment building would receive between 10-20 packages a day, now they are receiving anywhere between 50-200 a day. This shift has created a need for logistical parcel storage solutions for residents in multi-family dwellings.”
Canadian retail e-commerce sales reached a record $3.9 billion in May 2020. Year over year, e-commerce sales more than doubled—with a 110.8% increase compared with May 2019. Canada Post, the leading parcel shipping provider in Canada, reported delivering 389 million parcels in 2020, up from 320 million units delivered in the previous year and expected to have grown even higher in 2021. However, many consumers don’t have a secure way to get a package delivered to their unit.
“We are excited to partner with Luxer One to bring security and peace-of-mind to our communities, particularly those without concierge service,” added Mr. Nakhla. “Digitizing parcel delivery from the point of ordering through to arriving at your home in a secure environment, all while receiving mobile notifications so you know where your packages are and when they arrive – it eliminates so many points of friction.”
“Given the growing demand for parcel storage solutions and the number of residential buildings that Tribe manages, this partnership was a natural fit,” said Luxer One President, Josh Middlebrooks. “Like Tribe, technology and innovation are at the heart of our customer-focused company. Our mission is to accept 100 per cent of the packages that come to Tribe buildings, with no restrictions on size or storage.”
Tribe manages approximately 40,000 homes made up of more than 100,000 residents. The Company’s proprietary community management software Tribe Home is integrated into every community with its ability to connect, inform, educate, and protect through the digitization and simplification of residential community living.
About Tribe’s Digital Partnership Program
Tribe receives compensation from partners for use of the Tribe Home platform. The Company’s partners also commit to providing a special offering for Tribe’s homeowners/tenants allowing them to take advantage of Tribe’s group buying power.
The type and amount of compensation varies from partnership-to-partnership but generally falls into one, or a combination, of the following models:
- Commission: Tribe receives a one-time fixed or variable fee for each transaction that occurs through their platform; and/or
- Residuals/Recurring: After the initial transaction, the Company receives ongoing revenue for as long as the service remains in place.
About Luxer One
Luxer One is a technology company specializing in contactless pickup and drop off for packages and goods. The company’s smart package lockers and access control technology is used and preferred across industries, including multifamily residential, retail, commercial, and higher education. Luxer One has performed more locker deliveries through its advanced technology platform than any other smart locker company. To date, over 150 Million packages have been delivered to Luxer Lockers. To learn more, please visit luxerone.com.
About Tribe Property Technologies
Tribe is a property technology company that is digitizing the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe’s integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers.
Tribe’s three revenue pillars are made up of software and service (recurring licensing and management fees), transactional (rent or condo fees, banking services, lease-ups) and digital services and partnership (smart building products, financial and insurance service) revenue.
Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe’s platform decreases customer acquisition costs, increases retention and allows for the addition of value-added products and services through the platform. Visit tribetech.com for more information.
ON BEHALF OF THE BOARD
Chief Executive Officer
Tribe Property Technologies Inc.
Chief Executive Officer
1155 West Pender Street, Suite 419 Vancouver, British Columbia
Corporate + Media
VP Communications and Marketing Tribe Property Technologies
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Cautionary Statement on Forward-Looking Information
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws regarding the Company and its business. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Forward-looking statements or information in this news release may relate to statements with respect to the aims and goals of the Company; financial projections; growth plans including future prospective consolidation in the property management sector; future acquisitions by the Company; beliefs of the Company with respect to the independent owner-investors market; prospective benefits of the Company’s platform; and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. The Company does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.