RetailNext Announces Version 4.5 of In-Store Analytics Solution for Brick-and-Mortar Retailers

SAN JOSE, Calif., Sept. 17, 2013 /PRNewswire/ -- RetailNext Inc., the leader in Applied Big Data for brick-and-mortar stores, today announced the availability of RetailNext 4.5, which includes an innovative, patent-pending, queue analytics solution for all retailers, including the specialty sector. The new in-store analytics solution also introduces a new group of metrics focused on customer behavior and experience, further positioning the RetailNext platform as the leading analytics solution in the market.

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RetailNext brings e-commerce-style measurements and analytic capabilities to physical stores by delivering analytics that enable retailers and manufacturers to collect, analyze, and visualize store-related data while providing actionable insights. Unlike other solution providers that offer siloed or a limited number of combined insights, RetailNext's integrated platform processes the largest number of real-time data sources in the store and offers the largest set of analytics, enabling retailers to make better decisions that ultimately improve their business.

"As retailers upgrade any of their systems that monitor real-time store activity, they should also think about how to develop a real-time store monitoring platform. Retailers should look for vendors that can tie all the real-time data sources together. They should also focus on those vendors that have the expertise and ability to manage the huge data streams from source systems across the channels and provide simple, meaningful actionable alerts for store staff and headquarters," wrote Mim Burt, Research VP, Gartner, in the Gartner Hype Cycle for Retail Technologies (July 2013).

"The number of data sources available to retailers is growing every day, which makes this a very exciting time for in-store analytics," said Maria Fernandez Guajardo, VP of Product Management. "Our platform was built on three pillars: real-time data integration with both existing and future data sources, scalability, and retail knowledge. Our customers benefit from having a 'one-stop-shop' solution, enabling them to better understand their shoppers, evaluate store performance, measure campaign effectiveness, and improve their business overall."

The RetailNext platform continues to deliver new and actionable insights to empower data-driven decisions for retail professionals across all departments including marketing, store operations, loss prevention, insights, information technology (IT), and store management. More specifically, the platform provides insights that address three important areas for retailers.

Customer behavior and experience ─ Available insights include:

• Merchandising exposure
• Shopper engagement at display level
• Fixture and display effectiveness
• Shopper demographic profiles
• NEW in version 4.5:
  • Shopper loyalty
  • Shopper engagement at store level
  • New and unique visitors traffic
  • Window display performance

Traffic counting and operations ─ Available insights include:

• Accurate traffic counting
• Accurate shopper-only traffic counting (excludes employees)
• Staffing performance
• Conversion and shopper yield performance
• NEW in version 4.5:
  • Queue analytics

Loss prevention ─ Available insights include:

• Advanced video management system, including state-of-the-art analytics
• POS fraud analytics and investigation capabilities

The newly released RetailNext 4.5 platform provides a patent-pending and retail-focused queue analytics solution. By comparing queue statistics to key factors such as staffing levels and store traffic, and to results like conversion or sales, the technology helps retailers uncover opportunities to create the best possible checkout experience to maximize conversion and customer satisfaction. The solution supports linear, snake, and even unstructured queue types, and works with all popular video cameras. The solution supports large queuing areas through RetailNext's patent-pending cross camera-mapping capabilities and automatically supports variations in length, position, and nearby shopper traffic.

RetailNext continues to deliver innovation to address the growing demand of retail analytics and drive improved store performance. To learn more about RetailNext 4.5, contact us at [email protected].

About RetailNext
RetailNext is the leader in Applied Big Data for brick-and-mortar retail, delivering analytics that enable retailers and manufacturers to collect, analyze, and visualize in-store data. The company's patent-pending in-store analytics solution uses best-in-class video analytics and analyzes store-related information from the largest number of data 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 weather services, to analyze how internal and external factors impact customer shopping patterns, providing retail professionals with the ability to identify opportunities for growth, execute changes, and measure success.

RetailNext makes sense of more than 500 million shopping trips per year by collecting data from more than 65,000 sensors in retail stores and analyzing trillions of data points annually.  Headquartered in San Jose, CA, RetailNext is a growing global brand operating in more than 20 countries across five continents.  For more information, call +1-888-609-5877.

RetailNext Inc. and RetailNext are trademarks of RetailNext Inc. in the United States.

SOURCE RetailNext Inc.

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