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We understand the changing role of technology in retail.
Technology has changed the way retailers analyze consumer behavior and preferences to optimize a personal shopping experience to attract and retain brand loyalty. Retailers have embraced new technologies such as RFID inventory tracking chips, sensors and beacons to create connected stores. And some are using or testing artificial intelligence, virtual reality, augmented reality and machine learning capabilities to more acutely predict customer desires and preferences in hopes that meeting those wishes will turn into profits.
Quotes from Media Coverage Tanis Placed for RetailNext
“RetailNext, an analytics company, predicts that Black Friday will be the second-busiest shopping day
of the year, with only the second-to-last Saturday before Christmas drawing more store visits.”
– The Washington Post
“The Black Friday shopping frenzy is increasingly moving online, and Black Friday net sales in store have been in decline, according to analytics firm RetailNext. Sales dipped 1.6% last year compared with 2014 and dropped 14.1% in 2014 from the previous year. Traffic also slipped, dropping 1.8% in 2015 vs. the previous year and 16% in 2014 compared with 2013.”
– USA Today