Product Overview of RetailNext
RetailNext is a pioneering retail analytics platform designed to bring e-commerce-style measurements and analytics to brick-and-mortar stores, malls, and shopping centers. Headquartered in San Jose, California, RetailNext is recognized as a leader in Applied Big Data for retail, focusing entirely on optimizing the shopper experience.
What RetailNext Does
RetailNext’s centralized SaaS platform automatically collects and analyzes shopper behavior data from multiple sources, including video analytics, Wi-Fi detection, on-shelf sensors, and data from point-of-sale systems. This comprehensive data collection enables retailers to gain deep insights into how customers interact with their stores, allowing for real-time improvements in the shopping experience.
Key Features and Functionality
1. Traffic and Occupancy Analytics
RetailNext tracks entrance traffic, pass-by counts, and staff exclusion counting to provide accurate footfall data. This data is used to optimize labor scheduling, real-time task management, and predictive traffic trends, helping retailers to merchandise, staff, and secure their stores more effectively.
2. Loss Prevention and Security
The platform includes advanced loss prevention tools, such as remote video viewing and instant access to video, images, and point-of-sale data. This reduces internal theft and Organized Retail Crime (ORC) investigation time significantly, from days to hours.
3. Advanced Analytics and Visualizations
RetailNext provides traffic heatmaps and visualizations of shopper journeys through the store. Aurora sensors capture millions of data points daily, offering a single view of each shopper’s journey. This allows retailers to analyze interior traffic, dwell times, and conduct A/B testing on store layouts, merchandising, and visual displays.
4. Merchandising and Product Insights
The platform offers data-driven insights for product placement, assortment, and visual merchandising compliance. It supports multi-brand or shop-in-shop concepts, ensuring consistency across various store formats and enhancing fleet-wide performance. These insights can also be shared with brand partners to build relationships and maintain trust.
5. Seamless Integration
RetailNext integrates seamlessly with other retail systems, such as Lightspeed, to provide comprehensive sales, conversion, and other key performance indicator (KPI) metrics. This integration ensures a unified view of store operations and customer behavior.
6. Operational Efficiency
The platform streamlines various store functions into one intuitive suite, eliminating points of friction through optimized labor scheduling, real-time task management, and remote visibility for field and corporate staff. This functionality is supported by accurate traffic, occupancy, and conversion data.
Global Reach and Adoption
RetailNext has been adopted by more than 500 retailers in over 90 countries, demonstrating its global reach and the value it brings to retailers in understanding and optimizing the shopper journey. The platform’s scalability and ability to deliver localized solutions and support have made it a preferred choice for both global and local retailers.