SAN JOSE, CA – April 3, 2014 –RetailNext, Inc., the market leader in big data solutions for brick-and-mortar challenges, today announced new pinnacles in big data in the retail industry. Providing the most comprehensive in-store analytics platform, RetailNext is experiencing 100% year-over-year growth and measuring the behavior of more than 800 million shoppers per year by collecting data from more than 65,000 sensors (Wi-Fi, video cameras, POS, and other sources). With each shopping trip generating an average of 10,000 data points, RetailNext now analyzes 8 trillion data points annually.
“Retailers today have massive appetite for fact-based insights about the physical shopping world,” said George Shaw, Vice President of R&D, RetailNext. “One hundred twenty brands and retailers are using our big data innovations to improve staffing, store layouts, fixtures, or marketing 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.”
RetailNext was named among Fast Company’s 2013 “World’s Top 10 Most Innovative Companies in Big Data.” The Company provides retailers with in-depth views of their customers and potential customers while in the store, whether engaged physically or though their smartphones. Recent innovations address the mobile and personalization challenges of multi-channel retailers and have driven even greater use of RetailNext products, and therefore massive volumes of applied big data.
RetailNext provides ecommerce-style measurements, analytics, and actionable insights, derived from myriad data sources, including:
Opt-In Wi-Fi Analytics
RetailNext’s location-based Wi-Fi Analytics platform manages guest-Wi-Fi services and provides a real-time personalization API that integrates shopper data for more targeted marketing. More than 100,000 new shoppers opt in daily, offering new ways to influence purchases through 1-to-1 personalized campaigns while shoppers are in stores. Partnerships with CRM database, marketing database, marketing automation, and loyalty program providers help ensure communications are timely and relevant across channels.
Shopper Maps & Video Analytics
RetailNext makes sense of big data gleaned from video recordings for analog and IP cameras, including those used for Loss Prevention. Innovations enable retailers to understand in-store shopper activity and movement, with varying levels of detail and granularity. For instance:
- Kinetic Heat Maps help to understand shopper movement in stores, revealing high-traffic areas or dead zones needing attention.
- Department and Full Path Analysis Maps illustrate the areas shoppers visit (and in which order, when married with mobile detection) or paths taken when moving across departments and through aisles.
- Queue Analytics offer metrics about wait times, service times, and queue length; for checkouts, fitting rooms, and other areas. Video analytics also reveal ways to improve staffing, the customer experience, and even conversion, by understanding abandonment rates.
Point of Sale (POS) and Other Data Sources
RetailNext extracts data from all popular POS systems and integrates the transaction data with other sources, such as traffic counting and loss prevention video, to generate a variety of analytics and help retailers realize significant savings in capital expenditures. The hardware-agnostic platform also integrates and correlates data from dozens of other sources, making it the most complete in-store analytics solution.
RetailNext is the leader in applied big data for brick-and-mortar retail, delivering real-time 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, Bluetooth, data from POS 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.
Headquartered in San Jose, CA, RetailNext is a growing global brand operating in 33 countries.
RetailNext, Inc. and RetailNext are trademarks of RetailNext Inc. in the United States.