Raydiant’s Acquisition of Perch Marks Major Milestone for the Retail Industry
The acquisition of Perch’s AI-powered interactive displays and smart shelf technology accelerates Raydiant’s ongoing mission to create amazing experiences for enterprise brick-and-mortar retailers and its customers.
Raydiant, the industry-leading in-location experience platform, announced its acquisition of Perch, retail’s leading digital shopper marketing platform for in-store product engagement and sales. Integrated into the new Raydiant Shop offering, this acquisition ushers in what will be the only contextual physical and digital retail experience platform. Combined with Raydiant AI and its customer experience platform, Perch’s technology will be able to fully understand and analyze how customers interact with in-store products.
“As a current Perch customer, we couldn’t be more excited about Raydiant’s acquisition,” said Kenny Endermuhle, Category Experience Design Manager at Nestlé Purina. “It accelerates meaningful AI and data capabilities, and enables us to provide our retail partners next-generation omnichannel shopper experiences that will help drive the category forward.”
A recognized leader in digital shelf, lift and learn and computer vision technologies, Perch was responsible for the largest lift and learn deployments to some of the world’s most recognizable retail brands, including Johnson & Johnson, Nestlé Purina, Unilever, Invisalign, and Coty. Categories utilizing this technology, including those in beauty, fragrance, grocery, electronics and apparel, have even seen an average sales lift of 87%.
“To thrive in the world of brick-and-mortar, companies must move beyond traditional physical and digital signage,” said Raydiant Chief Executive Officer, Bobby Marhamat. “Companies need to be bold and unapologetic when it comes to creating in-store experiences for their customers. But they also need data and insights to develop those experiences. This acquisition will enable us to equip brick-and-mortar retailers with the best tools to generate the right insights to deliver the most personalized in-store content. We need to rapidly evolve in order to create the most engaging customer experiences and Raydiant’s acquisition of Perch marks a huge turning point for the retail industry.”
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Coming on the heels of Raydiant being named to Inc 5000 Fastest Growing Companies, this acquisition is a breakthrough in the space, finally providing an opportunity for businesses to improve how they merchandise items, price products and engage shoppers.
“No industry personifies the need to bridge physical and digital experiences more than the $4 trillion brick-and-mortar retail industry,” said Trevor Sumner, formerly CEO of Perch and Raydiant’s new Head of AI and Innovation. “Raydiant will be the first company to offer advanced AI and analytics for unique in-store experiences. They’ll be able to tailor messaging based on demographics and what products shoppers physically interact with. Raydiant will unite the best of physical and digital shopping by providing AI insights into the science of in-store conversion. This acquisition is going to fundamentally change the retail landscape.”
This acquisition will provide a deeper understanding of shopper behavior and unparalleled product engagement insights. Key insights this technology uncovers include:
- Engaged viewer counts with demographic segmentation, dwell times and sentiment analysis.
- Product conversion metrics such as screen pickup and sales conversion ratios.
- Merchandising insights such as planogram distribution and messaging conversion.
