Nexite, the pioneering data platform for real-time in-store intelligence and truly seamless retail shopping, announced the launch of its Connected Merchandise Solution, a module within the Nexite platform that delivers real-time customer journey analytics to help retailers increase in-store revenue and margins.
Nexite’s Connected Merchandise Solution works with the company’s patented, first-of-its-kind, battery-free NanoBT (Bluetooth) tag, which is attached to the retailer’s merchandise, to pull data on merchandise performance. This data includes what customers are seeing, whether or not customers are engaging with a product, purchasing or abandoning merchandise, what is selling well together, the availability of a product, and what shelves or locations in the store grab the most attention. When combined, this data delivers actionable insights to ensure the right product, right place and right quantity so that retailers can optimize the path to purchase in real time, protecting sales margins and turnover rates. Insights derived on the merchandise level can be applied across the retail chain to rapidly increase merchandise performance while in-store insights can be used to optimize and even localize stores.
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“The Connected Merchandise Solution is unlocking store potential that many retailers didn’t even know was possible,” said Anat Shakedd, Co-founder and Chief Executive Officer at Nexite. “By offering a continuous flow of data, we are able to give retailers a big picture view of whether or not their product is in the right place at the right time, for the right price – which is imperative to store success. This kind of awareness allows retailers to make better decisions that benefit their customers and employees. I’m incredibly proud to launch this product and I’m excited to see the positive impact it has on brands.”
“Our decision to use Nexite’s Connected Merchandise Solution across Factory 54 has completely transformed the business. It’s the only in-store solution on the market that delivers real-time data on the customer journey, merchandise location and availability and localized insights, yielding unseen results to date,” said Tomer Irani, CEO, Factory 54. “In using Nexite’s technology, we experienced a 13.5% increase in sales which represents a 14x return on investment. The excitement of our merchandisers, retail managers and store staff is reflective of the simplicity of a solution that fits into our existing business processes, with no additional work needed. This is tangible proof of how understanding the customer journey directly translates to incredibly impactful results that can improve a business and optimize sales tenfold.”
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