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"RetailNext offers StarVest a winning combination for a growth equity investment: proven and smart management, a growing roster of customers and a unique and timely offering. The retail sector continues to embrace the RetailNext platform because there is clear value in improving performance of brick-and-mortar stores, particularly by measuring and testing myriad data sources within those walls. It's a clear fit for our data-as-a-service practice," stated Ms. Sachar.
The first technology platform to bring e-commerce style shopper analytics to brick-and-mortar stores, RetailNext enables retailers to collect and correlate data from the broadest available set of sources including video cameras, point-of-sale (POS) systems, Wi-Fi devices, and time and attendance applications.
More than 60 retailers have adopted RetailNext to glean the insights necessary to increase same-store sales, reduce theft, eliminate unnecessary costs, and improve the customer experience.
"Considering that ninety-five percent of purchasing still takes place in the brick-and-mortar channel, it is not surprising that we've seen a strong appetite among retailers to collect the factual knowledge about shopper behavior that can directly lead to bottom-line improvement. This rapid adoption is driving more than triple year-over-year revenue growth for the company," said Alexei Agratchev, CEO of RetailNext.