SOURCE: NexVisionIX

November 05, 2013 09:00 ET

In-Store Analytics in the Cloud Gives Retailers Powerful Tool to Cash in on the Holiday Shopping Season

NexVisionIX Cloud-Based Software as a Service Platform Slashes Time to Market, Eases Implementation Path; Retailers Can Be Operational in Just a Week -- In Time for Black Friday

IRVINE, CA--(Marketwired - Nov 5, 2013) - In-store analytics -- providing insight on customer behavior and store performance to help retailers maximize conversion of customer interactions to transactions -- it's the top technology on every retailers' holiday wish list this year, given they have six fewer shopping days this holiday season as compared to 2012.

To this end, NexVisionIX today announced its new Cloud Analytics packages, powerful big data/analytics packages rendered via a Software as a Service (Saas) model, making it easy for retailers to leverage the power of in-store analytics to optimize holiday shopping outcomes -- and with a price tag starting at $100/month -- to do so at a price they can afford.

The new packages make NexVisionIX's proven big data/analytics technology -- in use today by major retailers -- rapidly deployable and accessible to midmarket retailers as well as large retailers looking to boost key store location performance for incremental benefit during the holiday season. Three different Cloud Analytics packages offer functionality to allow retailers to analyze zone level conversions and traffic trends to optimize conversion, labor and product placement; understand customer segmentation, demographics, and promotion and cross-sell effectiveness; and offer personalized promotions and product recommendations.

"While omni-channel retailing has been all the rage in the retail sector, up until now brick-and-mortar retailers have been left in the 'digital dust'. In store analytics changes that, giving retailers the same types of valuable insights they get from their online retailing initiatives," said Rick Dutta, NexVisionIX CEO. "This holiday shopping season retailers need to have new strategies in place to satisfy their customers and influence buying behavior. In-store analytics gives retailers real-time insights to optimize performance; with NexVisionIX Cloud Analytics, retailers can be up and running within a week. And with multiple packages available, retailers can get exactly what they need at a price point they can afford."

Dutta says having in-store analytics in place over the Thanksgiving weekend can provide retailers with valuable insights to help drive decisions to 'course correct' as needed to make the most of this year's shortened holiday shopping season. According to the Accenture Holiday Shopping Survey, U.S. consumers are increasingly embracing the concept of shopping on Thanksgiving Day and evening. Among those planning to hit the shops on Thanksgiving Day or Black Friday, 38% expect to visit four or more stores and more than one-third plan to shop before midnight on Thanksgiving Day.

"In-store analytics delivers valuable store insights to help retailers reduce queue time at the cashiers, improve traffic conversion, and promotion effectiveness, among other outcomes. An incremental improvement in any one of these areas can be the difference between a 'make or break' holiday shopping season for any retailer," said Dutta.

NexVisionIX leverages comprehensive technology means to collect myriad types of data from in store shoppers with predictive algorithms to help determine next best actions that are relevant to influence consumer behavior and affect Merchandising, Store Operations, CRM and eCommerce -- essentially providing both the "brain" to capture big data and the "nervous system" to make those insights actionable, in congress with downstream retail systems.

About NexVisionIX
NexVisionIX is the leader in big data analytics for brick-and-mortar retailers and eCommerce, leveraging a Cloud-based Software as a Service (SaaS) platform. We provide business intelligence analytics that aggregate, analyze, and visualize myriad data to optimize operational execution for increased sales, advanced loss prevention capabilities, improved marketing spend, and enhanced organizational decision making. Delivering insights that turn interactions into transactions, NexVisionIX drives improved profitability, customer loyalty, market share, and customer satisfaction. Winner of an SAP Startup Focus Award in 2013 for most transformative solution with the highest potential to change an industry, NexVisionIX is headquartered in Irvine, Calif. Contact us at 714-665-6240, or visit us on the web at: www.nexvisionix.com