Leading retailers improve the bottom line with RetailNext.
“Purchased separately, traffic management and loss prevention systems would have cost American Apparel up to 40% more. With RetailNext we were able to bring in something we didn’t have before and got better quality at a lower overall price. Beyond that we’ve used RetailNext to identify low-converting locations for concentrated attention and driven increased sales in these stores. There’s no doubt RetailNext has been a profitable investment for us.”
American Apparel used RetailNext to increase sales between 30% and 40%, reduce theft between 16% and 20%, and save upwards of 40% in capital costs for traffic management and loss prevention systems. RetailNext was instrumental in a 75% theft reduction in a series of targeted stores with high shrinkage.
“We have insight into employee behavior that is linked to traffic patterns and conversion rates. For example, we use analytics to identify suspicious returns and even use video to make sure a customer is present during the transaction.”
Using the RetailNext platform Brookstone reduced shrinkage approximately $1 million a year in its stores.
The Art of Shaving
“RetailNext provides The Art of Shaving with invaluable access to key metrics and data by adding Conversion as a new KPI. This metric allows the company to see opportunities by store and therefore increase overall sales. A mere 1% increase in Conversion can yield $200,000 in additional sales per month, or $2.4 million a year.”
“With RetailNext, I can connect at any time from the convenience of my computer and know exactly how many people shopped which area of the store and what was my conversion metric by area, thus allowing us to optimize our share of space dedicated to our different categories and improving on our staffing goals.”
“RetailNext will give us the ability to test every element that goes into driving traffic and conversion. This includes price, signage, assortment, and design, as well as many additional factors. What’s more, we can see how this impacts shoppers in real time.”
Family Dollar has remodeled more than 1300 stores based on findings from the RetailNext platform.
“We believe that installing the RetailNext system will provide us with better information and intuitive access to data that we have not had available before this roll-out. We expect that we will be able to uncover opportunities for improving the shopping experience that otherwise would be invisible to us.”
“It helps us make a better correlations between transaction data and traffic. So now we can find opportunities we might be missing.”