RetailNext: Comprehensive In-store Analytics to Know Your Shopper

In-store analytics make it easier for retailers to improve staffing and marketing efforts that drive traffic, build customer loyalty and enable personalization strategies. Founded in 2007, RetailNext is the market leader in applied Big Data solutions for brick-and-mortar challenges. Its technology delivers comprehensive, real-time analytics that empowers worldwide retailers, shopping centers, and manufacturers to collect, analyze, and visualize in-store data. Using best-inclass video analytics, Wi-Fi detection, Bluetooth, and data from point-of-sale systems and other sources, the patented technology instantly informs retailers about how shoppers engage with their stores. The highly scalable RetailNext platform easily integrates with promotional calendars, staffing systems, and even weather services to calculate how internal and external factors impact customer shopping patterns. With the platform’s sophisticated yet intuitive tools, retailers can identify opportunities for growth, implement change, and evaluate success.

“With the help of the RetailNext technology solution, retailers can extract a precise, factual understanding of how shoppers move around their stores – where they go, in what order, how long they stay, when they come to the store, and how these behaviors map to actual sales,” explains Alexai Agratchev, Co-Founder and CEO, RetailNext. “Retailers today have massive appetite for fact-based insights about the physical shopping world,” adds George Shaw, Head of R&D, RetailNext. “One hundred twenty brands are using our Big Data innovations to improve staffing, store layouts, fixtures, or ma r ke t ing campaigns, based on what they learn about human behavior in their stores. We’re not looking at traffic counting or sales data alone–it’s the collection, correlation and analysis of so many disparate data sources that makes RetailNext powerful.

Currently operating in 33 countries, the company has partnered with global retail brands to help them measure store performance, identify opportunities for growth, implement strategies that drive results, increase capital savings and boost bottom-line sales.

The company’s customer list includes Bloomingdales, Pepsico, AmericanApparel, Verizon Wireless, Frito Lay, P&G and Family Dollar.

With better understanding and the information to make betters decisions, retailers are greater equipped to improve service, retain loyal customers, and improve bottom-line performance, and RetailNext’s world-class team and collaborative partners are here to lead their way

In the American Apparel use case, the national retailer increased same store sales more than 30 percent and reduced theft 16 percent across the chain, with theft reduced up to 75 percent in some store locations. The cost savings from theft reduction alone outweighed the investment in the RetailNext platform in just four months. Additionally, America Apparel also used RetailNext to combine its people-counting and Loss Prevention platforms, saving 40 percent in capital expenditure for those two functions.

Stacey Shulman, former CIO, American Apparel, quotes “RetailNext has been a profitable investment and we are reporting better customer service and higher conversation rates than before.”

Moving forward, RetailNext strives to continue to apply the most comprehensive suite of Big Data solutions to retailers, including real-time and predictive analytics.