Retail Analytics Leader Determines Sales Will Increase Despite a Flat to Modest Decline in Store Traffic
Retail Analytics Veteran to Spearhead Industry Leader’s Aggressive Growth
New Release Packs Features onto Leading Retail Analytics Platform.
Cameras aren’t just for deterring shoplifting. Video analytics can tell a retailer the age and gender of shoppers, what they touch and where they go in a store.
“We had a store targeting the Millennial crowd when it turned out it was Gen X shopping there,” said Shelley Kohan, vice president of retail consulting at RetailNext.
RetailNext, a data analytics firms that works exclusively with retailers, is one of the change agents helping retailers survive the great commerce evolution. In a podcast interview with Webster, RetailNext’s CEO Alexei Agratchev and Head of Business Analytics Chitra Balasubramanian explained that when their firm first launched 7 years ago they had a simple goal – to give physical retailers access to the same kind of information that their online counterparts routinely capture and use.
RetailNext feels that although November started off on a more difficult footing because Halloween fell on the Friday before the first holiday shopping weekend (the first Saturday in November, Nov. 1, saw sales down 10% on a 7.8% decrease in traffic), this will make for a particularly strong Thanksgiving weekend.
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