RetailNext Heats up Competition with Online Counterparts; brings on new Shopper-centric strategies

By CIOReview | Friday, September 11, 2015
860
1521
276

SAN JOSE, CA: There has been a gradual decline of overall traffic to physical convenience stores owing to the explosive growth of e commerce portals leading retailers to crave information that can help them gain a competitive edge in this data-driven environment. RetailNext, a provider of retail analytics for brick and mortar store extends the development forward by introducing its analytics platform to support Bluetooth beacon-based solutions to identify and exclude the movement of stores sales associated from traffic counts and shoppers’ in-store shopping paths.

The beacon version program allows retailers to not only accurately count, observe and measure the paths of shoppers and associates, but also determine when shopper-associate interactions occur, how often, in what duration and the affect on conversion and other key performance indicators.

RetailNext augments its patented Wi-Fi and video analytics solutions to integrate with smaller and lesser expensive Bluetooth 4.0 Low Energy (BLE) beacons, leveraging retailers to deploy exclusion solutions at a larger scale.

Previously, retailers used to count store traffic by collecting the traditional front door traffic- initially through pen and paper, followed by clickers, and then by more automated ‘clicker’ technologies like beams and cameras. But now with simple foot-traffic metrics Traffic 2.0 retailers have developed methodologies to use the data in understanding several store performance levels, including marketing effectiveness, staffing planning, and ultimately, the store’s ability to convert those people entering the store. The 2.0 deployment helps retailers in optimizing the stores which is based on the same metrics as its online counterparts use.

The solution also empowers retailers to more accurately determine the correct balance of labor investment and customer service levels, and ensure staffing is aligned with traffic patterns.