SAN JOSE, Calif. – December 4 , 2013 – RetailNext, Inc., the in-store analytics market leader, announced today the acquisition of Nearbuy Systems, the leading provider of location-based Wi-Fi Analytics solutions for retailers. Based in San Mateo, California, Nearbuy is the largest provider of in-store opt-in analytics, enabling retailers to enhance one-to-one engagement and personalization strategies. Nearbuy’s mission has been to help retailers and malls build a competitive advantage in the new world of omnichannel shopping. By leveraging a retailer’s existing Wi-Fi infrastructure, Nearbuy provides a fast and powerful way to engage valuable omnichannel shoppers with opt-in guest Wi-Fi, create a single view of customer behavior channels, and influence purchases while they are in the store through personalized campaigns.
“We are thrilled to join the RetailNext team where we can contribute to building the most advanced in-store analytics platform for retailers around the world,” said Bryan Wargo, CEO of Nearbuy Systems. “We are confident that with the combination of top-tier talent and the common drive for innovation, we have the opportunity to continue developing cutting-edge technology that will enable retailers to gain unprecedented insights into their stores.”
According to Alexei Agratchev, CEO of RetailNext, “RetailNext has invested more than $25 million in R&D to deliver ecommerce-style analytics to physical stores and shopping centers. We are growing over 100% year-over-year and have more than 100 large-scale, global retailers actively using the RetailNext platform. We offer the most comprehensive solution for Applied Big Data for physical retail ─ the most features, data types and data analytics.”
“By incorporating an industry leading opt-in guest Wi-Fi Analytics platform and the deep mobile expertise of the Nearbuy team, RetailNext can offer retailers a proven, measurable and best-practice way to collect and analyze every aspect of data needed to gain a complete view of what happens in their stores,” added Mr. Agratchev.
With the acquisition, RetailNext will fully integrate Nearbuy’s technology and experienced team into its brand, enabling RetailNext to:
- Grow its employee base to more than 120 people worldwide
- Expand its global partner network to include guest Wi-Fi leaders Motorola Solutions and AT&T
- Gain unparalleled wireless industry expertise
- Expand its platform to include integration with:
- Leading Wi-Fi infrastructures (Motorola Solutions, Cisco Systems, Aruba, Meraki)
- Guest and opt-in Wi-Fi Analytics
- Browsing analytics within the store (top websites, searches, etc)
- Add dozens of specialty, department store and mall retailers to its customer roster
- Increase its patent portfolio
“Nearbuy offers the first Wi-Fi Analytics platform with a personalization API that integrates shopper data for more targeted and personalized marketing. We lead the Wi-Fi Analytics market with more than 1,000 stores installed in the last year and more than 100,000 new users opting in every day through our platform,” added Nearbuy Systems CEO Bryan Wargo.
“RetailNext is leading the way in modernizing and transforming the retail industry by enabling physical retailers to not only improve operations and increase profit per shopper, but also mirror many of the e-commerce marketing best practices that have increased sales and customer loyalty for decades online,” stated RetailNext CEO Alexei Agratchev.
RetailNext, Inc. is the leader in Applied Big Data for brick-and-mortar retail, delivering in-store analytics that enable retailers, shopping centers, and manufacturers to collect, analyze, and visualize in-store data. The company’s patented solution uses best-in-class video analytics, Wi-Fi detection, Bluetooth, on-shelf sensors, and data from point-of-sale systems and other sources to automatically inform retailers about how people engage with their stores. The highly scalable RetailNext platform easily integrates with promotional calendars, staffing systems, and even weather services, to analyze how internal and external factors impact customer shopping patterns – providing retailers with the ability to identify opportunities for growth, execute changes, and measure success.
RetailNext tracks more than 500 million shoppers per year by collecting data from more than 65,000 sensors in retail stores and analyzing trillions of data points annually. Headquartered in San Jose, CA, RetailNext is a growing global brand operating in 33 countries.