Source Profile: RetailNext.
RetailNext is a retail analytics and advisory firm that supports brick-and-mortar retailers’ efforts to understand what is happening in their stores, at scale. RetailNext tracks store traffic levels, measures traffic patterns and conversion rates, and supports retailers’ loss prevention efforts.
We value RetailNext’s rich view of store traffic from small and large retailers, combined with traditional web analytics metrics, such as conversion rate, monthly granularity, and recency.
Methodology Behind the KPIs
RetailNext’s technology uses its own proprietary cameras and analytics to track shoppers’ entrances, paths, and purchases in stores. It aspires to bring web analytics-style visibility to brick-and-mortar retail. In addition to traffic, RetailNext is able to look at shopper journeys, demographics, visit duration, and repeat visit rates. Data reported here is based upon “tens of millions of shopping trips to specialty and large-format retailer stores in the continental US.”
KPIs in the Portal
|Brick-and-Mortar KPIs||Traffic growth||Year-to-year change in the total number of shoppers across a group of RetailNext clients|
|Brick-and-Mortar KPIs||Sales growth||Year-to-year change in sales, net of returns|
|Brick-and-Mortar KPIs||Conversion rate growth||Year-to-year change in sales transactions as a percent of store traffic|
|Brick-and-Mortar KPIs||Average transaction growth||Year-to-year change in average transaction size|
|Brick-and-Mortar KPIs||Shopper yield growth||Year-to-year change in sales divided by store traffic|
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