RetailNext Introduces Expanded Smart Store Solutions
Expanded Capabilities, Services, and Partnerships Empower Brands to Better Understand Consumers and Deliver Outstanding Experiences
SAN JOSE, Calif. - Jan. 12, 2020- Today, RetailNext Inc., the worldwide expert and market leader in smart store retail analytics for optimizing shopper experiences, announced key software and solution advancements, including advanced in-store analytics with full shopper path analysis, to better empower retailers in engaging and serving shoppers throughout their connected journeys. RetailNext is showcasing its innovative solutions at booth #4373 at NRF 2020, Retail's Big Show & Expo, presented by the National Retail Federation in New York City, January 12-14.
"RetailNext was founded on the principle of creating and developing the technology solutions necessary for retailers to succeed in the new era of shopper-centric retail," said Alexei Agratchev, co-founder and chief executive officer of RetailNext. "With expanded platform capabilities, retailers can now more easily operationalize data-driven shopper insights throughout their organizations and make a difference where it counts the most - with shoppers."
Expanded Platform Capabilities
Already an innovative market leader in advanced interior analytics within physical stores, the RetailNext smart store SaaS platform now offers more full path analytics insights and visualizations in its user interface, including seamless transitions from one store zone to another, segmentations of purchasers and shoppers who do not convert, and customer/staff interactions. Full shopper path visualizations allow retailers to measure shopper behavior either at scale, over time or down to individual shopper journeys, determining behaviors as to where shoppers dwell and engage with product and/or staff. Most importantly, retailers can now discern the cross-shopping behaviors of shoppers, determining where shoppers are most likely heading once they leave one product category or store zone and move to another.
"Retailers strive to understand shoppers' full connected journeys, both online and in-store, and for years the largest data void has been in-store, and what happens from the front door to the register," said Vedrana Novosel, director of product management at RetailNext. "Full path analysis eliminates the blind spots of in-store shopping, allowing retailers the ability to further test, learn and improve upon their delivered shopping experiences. RetailNext's ability to take full shopper journeys and segment them based on criteria such as age or gender, buyer versus non-buyer, or staff versus shopper brings a new level of understanding and allows retailers to analyze in-store shopper activities and behaviors in the way they've become accustomed to with digital channels."
Also new for 2020, the RetailNext Performance Dashboard now offers enhanced store insights, with staffing recommendations based on shopper traffic trends and weekly analyses of store data, all available in the improved RetailNext mobile app. Introduced to the user interface (UI) a year ago, the RetailNext Performance Dashboard provides retailers easy comparisons of in-store performance against past periods, including day, week and month, and permits real-time tracking toward the achievement of current performance goals and benchmarking against peer stores within the fleet. Moreover, the Performance Dashboard also condenses actionable insights into automated, prescriptive recommendations tailored specifically to a store's opportunities to improve.
Lastly, gender-based classification is now available with RetailNext's all-in-one Aurora sensor. Mounted with a top-down view, Aurora's firmware counts all shoppers, and then uses deep learning-based artificial intelligence to classify shoppers into gender classifications based on gaits and movement patterns.
[Note: RetailNext recognizes and values all dimensions of diversity, including gender identity anywhere along the spectrum of gender expression. For aggregated counts of shoppers and their gender to better understand broader shopper trends at retail locations, Aurora's gender algorithm recognizes only easily discernible, visual indications when determining whether a shopper is more likely to be female or male.]
Published monthly since 2014, the RetailNext Retail Performance Pulse report provides a detailed overview of brick-and-mortar store performance in the United States. Beginning in the first quarter of 2020, that monthly report will be complemented with the RetailNext EMEA Retail Performance Pulse, reporting store performance metrics in the European, Middle East and Africa (EMEA) region.
Available monthly, the RetailNext EMEA Retail Performance Pulse reports store performance metrics as a percentage change year-over-year for the month, based on the retail industry's 4-5-4 calendar. In addition to overall monthly aggregated store performance metrics like sales, shopper traffic, conversion and more, the EMEA Retail Performance Pulse provides detailed breakouts on high and low days of the retailing month, weekly performance indicators and regional breakouts. Like the U.S. Retail Performance Pulse, data is aggregated from stores on the RetailNext smart store analytics platform, and encompasses brands across a wide variety of retail segments, with both mall-based and standalone stores.
Solution Provider Partner Program
For the first time, RetailNext now offers its proven infrastructure of next-generation sensors and data network management platform to developers for the creation of state-of-the-art indoor traffic analytics applications for retail and other industries. With the RetailNext Solution Provider Partner Program, developers can now integrate RetailNext's next-generation Aurora all-in-one sensor with built-in deep learning-based artificial intelligence and its data management platform into their own value-added products and solutions.
"RetailNext has long been the de facto standard for traffic counting at retail storefronts, and those proven technologies are now available for other developers to integrate into their solutions across the vast number of industry verticals outside of the retail sphere," said Greg Porlier, head of international sales at RetailNext. "Wherever there is a need for an accurate, precise and contextual count of people traffic, RetailNext has the proven infrastructure to fast-track success."
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 500 retailers in over 90 countries have adopted RetailNext's analytics software and retail expertise to better understand the shopper journey in order to increase same-store sales, eliminate unnecessary costs and mitigate liability risks. RetailNext is headquartered in San Jose, Calif.
Learn more at www.retailnext.net.