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Corporation
INTERNET | Internet Software & Services / Retail & Inventory
retailnext.net

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Founded Year

2007

Stage

Line of Credit | Alive

Total Raised

$234.48M

Last Raised

$42M | 6 mos ago

About RetailNext

RetailNext is a provider in Applied Big Data for brick-and-mortar retail, delivering real-time analytics that enable retailers and manufacturers to monitor, collect, analyze, and visualize in-store data. The solution uses video analytics, Wi-Fi detection, on-shelf sensors, and data from point-of-sale systems and other sources to automatically inform retailers about how people engage with stores. The scalable RetailNext platform integrates with promotional calendars, staffing systems, and weather services to analyze how internal and external factors impact customer shopping patterns, providing store operations executives with the ability to identify opportunities for growth, execute changes, and measure success.

RetailNext Headquarter Location

60 S. Market Street Suite 310

San Jose, California, 95113,

United States

408-884-2162

Latest RetailNext News

How Retailers Can Use Data to Improve Customer Experience

Aug 6, 2021

Share By BoF Team August 6, 2021 12:00 Retail futurist Doug Stephens is joined by a panel of experts to tackle the tricky business of collecting, understanding and using data to improve retail. Share To subscribe to the BoF Podcast, please follow this link. In retail, data can be a powerful tool to help brands understand their customers and how they engage with products. But just as retail itself has changed dramatically over the past few years, so have a retailer’s most important metrics of success — it’s no longer just about sales. As highlighted in the BoF Professional Summit: What’s a Store For? , it’s not sufficient for retailers to solely measure variables related to purchase — such as sales per square foot, or average footfall. But while there is no shortage of data that retailers can capture (and hundreds of ways to do it), not all data is worth paying attention to. Knowing what data is worth paying attention to can be tricky. “Simply because you can measure something, doesn’t necessarily mean that you should or it doesn’t necessarily make it important,” said Doug Stephens, retail futurist and BoF columnist. This week on the BoF Podcast, Stephens is joined by Brittany Hicks and Jessica Couch of Fayetteville Road, a consulting firm which helps retailers understand niche markets and women of colour, as well as Alexei Agratchev, co-founder and chief executive of in-store analytics firm RetailNext to discuss how retailers should be using retail data. Retailers have access to an overwhelming amount of information: what percentage of passersby enter a store, how much time those visitors spend inside, what merchandise they interact with and how many times they return to the space, as well as demographic details like age and gender. “The most important thing that stores can do to be great is to constantly invest in tools and processes to listen and respond to their customers,” said Agratchev. Retailers need to be agile and translate the information they gather into actionable strategies for trying out new formats, layouts and sales associate engagement tactics. “It’s not not just a matter of implementing the technology to gather data but potentially using it as a means of experimentation and testing as well,” said Stephens. Couch says retailers also need to dig deeper to understand some of the more complicated attributes about their consumers, like where they come from, what communities they belong to, and what their sentiments are about the brand. “There is a disconnect,” said Couch. “A lot of brands don’t understand how people feel about their products or experience.” Related Articles:

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Research containing RetailNext

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned RetailNext in 2 CB Insights research briefs, most recently on Mar 25, 2020.

Expert Collections containing RetailNext

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

RetailNext is included in 5 Expert Collections, including CPG & Retail Innovation.

C

CPG & Retail Innovation

255 items

AI, proximity marketing, product discovery, and more for CPG brands.

I

In-Store Retail Tech

1,524 items

Startups aiming to work with retailers to improve brick-and-mortar retail operations.

G

Grocery Retail Tech

300 items

Startups providing B2B solutions to grocery businesses to improve their store and omni-channel performance. Includes customer analytics platforms, in-store robots, predictive inventory management systems, online enablement for grocers and consumables retailers, and more.

b

big data

1,068 items

T

Targeted Marketing Tech

265 items

This Collection includes companies building technology that enables marketing teams to identify, reach, and engage with consumers seamlessly across channels.

RetailNext Patents

RetailNext has filed 15 patents.

The 3 most popular patent topics include:

  • 3D imaging
  • Image processing
  • Object recognition and categorization
patents chart

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Related Topics

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12/26/2018

8/10/2021

Artificial neural networks, Artificial intelligence, Machine learning, Classification algorithms, 3D imaging

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Artificial neural networks, Artificial intelligence, Machine learning, Classification algorithms, 3D imaging

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RetailNext Web Traffic

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