For 15 years, online eCommerce has been eating brick-and-mortar retail for lunch.
C;mon, we can talk about it. We’re among friends. Besides, it’s the truth.
The online shopping experience has changed dramatically over the past 15 years, primarily because online merchants have gained more and more understanding of who their shoppers are and how they like to shop.
In-store retail analytics are designed to level the playing field, providing data and shopper insights to empower retailers to better manage their stores. But, up to now, those powerful analytics were often viewed as the province of giant retailers with hundreds or even thousands of store locations.
Earlier this week, RetailNext announced the release of its Accelerator Kit, a packaged retail analytics solution designed specifically for small- and medium sized retailers, stores with smaller footprints, and traditional online merchants just entering the brick-and-mortar space.
The RetailNext Accelerator kit allows retailers to go well beyond basic, single-point solutions like simple front door traffic counts. The out-of-the-box solution comes complete with video cameras and other sensors and, of course, RetailNext’s market-leading, industry-standard SaaS platform. Together, the package delivers insights and overlays additional metrics to best understand shoppers and how they shop, including pass-by traffic and capture rate, percentage of repeat visitors, frequency of store visits, duration of visits, unique visitors and more.
The new Accelerator Kit also incorporates RetailNext’s cutting-edge Loss Prevention module, including best-in-class POS Exception Reporting capabilities.
Brick-and-mortar retail is not dead, as well over 90 percent of retail transactions occur in the physical store, and the channel affords numerous competitive advantages in today’s omnichannel retail reality. Moreover, brick-and-mortar is not only huge global conglomerates, as more than 98 percent of American retail establishments employee less than 50 people.
The store – no matter how large or small – remains the heart and soul of retail. And RetailNext’s market-leading platform empowers retailers to be better experience providers.
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