CBL Announces Partnership with RetailNext
CBL, One of The Largest Owners and Developers of Malls and Shopping Centers in the US, Announces Partnership with RetailNext Smart Store Solutions to Enhance the Shopper Experience
CHATTANOOGA, Tenn. & SAN JOSE, Calif. - Sept. 14, 2017- CBL & Associates Properties, Inc. (NYSE:CBL) today announced that it has entered into a partnership with RetailNext, the worldwide leader in smart store retail analytics for optimizing shopper experiences. The comprehensive RetailNext platform will be deployed at two of CBL's properties, Hamilton Place in Chattanooga, Tennessee, and Asheville Mall in Asheville, North Carolina.
"This partnership supports our ongoing commitment to enhancing the shopper experience at our properties through the thoughtful deployment of leading edge technology," said Stephen Lebovitz, president and CEO, CBL. "RetailNext's platform will provide us with the data necessary to design and deliver the experience our customers demand, help inform future decisions and empower our partners to better succeed."
CBL joins RetailNext's rapidly growing global customer list of over 350 retail brands, and represents the new breed of property operators reinventing the brick-and-mortar experience in today's omnichannel environment.
As the retail landscape evolves to meet the demands of the modern consumer, progressive shopping center owners like CBL are utilizing enhanced technologies to capture the shoppers' attention. Gaining a greater understanding of customers' shopping habits through tools like RetailNext has become increasingly important to property owners. These insights afford retailers and property owners alike the ability to create more efficient and desirable customer experiences.
"RetailNext is honored and excited to be selected by CBL as its smart property solution provider as it continues its quest to revamp the shopping experience at its properties," said Alexei Agratchev, co-founder and chief executive officer of RetailNext. "Over the past several years, there has been an exponential growth in the deployment of IoT-powered retail analytics platforms, with innovative and creative companies like CBL recognizing the value associated with deep insights into today's shoppers and their values, behaviors and preferences. Shoppers no longer have to shop at malls, rather they want to shop at malls, and CBL is among the leaders in designing and delivering new state-of-the-art experiences in attracting and serving customers."
The first retail vertical IoT platform to bring e-commerce style shopper analytics to brick-and-mortar stores, brands and malls, RetailNext is a pioneer in focusing entirely on optimizing the shopper experience. Through its centralized SaaS platform, RetailNext automatically collects and analyzes shopper behavior data, providing retailers with insight to improve the shopper experience real time.
More than 350 retailers in over 70 countries have adopted RetailNext's analytics software and retail expertise to better understand the shopper journey in order to increase same-store sales, reduce theft and eliminate unnecessary costs. RetailNext is headquartered in San Jose, Calif. Learn more at www.retailnext.net.
About CBL & Associates Properties, Inc.
Headquartered in Chattanooga, TN, CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 123 properties, including 80 regional malls/open-air centers. The properties are located in 27 states and total 76.9 million square feet including 5.9 million square feet of non-owned shopping centers managed for third parties. Additional information can be found at cblproperties.com.
CBL & Associates Properties, Inc.