New Connected Retail Platform: Real-Time Control Over Store Operations

Connected Merchandise
nexite

With new AI features, Nexite offers retailers actionable insights to improve store performance, localize visual merchandising strategies, quickly identify underperforming merchandise, upsell at the fitting room and more.

Tel Aviv, Wednesday, May 22nd: Nexite, the retail AI intelligence platform,  announces the launch of its new Connected Retail solution to help fashion retailers take control of store performance and generate growth through real-time customer behavior data and AI-based insights. 

 

The platform features a new “control” dashboard giving retailers a chain-level view of store performance, from the full customer journey in each store through hidden opportunities for greater revenue and early warnings when revenue is at risk. Bringing in more control, now multiple stakeholders across headquarters and stores gain visibility into the cause of underperforming stores and can take actions to address zero and low sellers quickly, reduce overstocking and understocking, localize assortments, and apply best practices across stores to optimize store performance and sales.      

 

Nexite’s solution pulls real-time, item-level data on merchandise in stores continuously every thirty seconds from battery-free, patented NanoBT (Bluetooth) tags and readers, delivering 98%+ inventory accuracy and translating merchandise movement and location data into a money map of how customers see, pick up, try on, and purchase or abandon merchandise in each store, and how this affects sales and conversion. These never-before-seen insights arrive within days, giving retailers full visibility and control over their merchandise, stores, and employees to perfect the customer experience and improve sales and conversion in physical stores in real time.

 

“Fashion retailers are challenged to get visibility and continuous control over thousands of physical stores with millions of merchandise,” said Anat Shakedd, Nexite Co-Founder and CEO. “So much of what makes luxury luxury, for example, is the relationship between store associates and the customers. But are store staff doing what they need to do? Are they presenting the right products to the customers, are they meeting the highest possible potential?

“We took these questions and used Nano BT and AI to capture unique customer behavior data in stores to provide answers. And while doing so, we’ve seen up to a 16% increase in sales for our customers. This solution will change how stores operate to convert customers, disrupting the brick and mortar retail market.”
Anat Shakedd
Anat Shakedd
CEO & Co-Founder, Nexite

“Since the new solution has been rolled out globally across several premium brand stores, our customers have seen week-over-week sales increases per store. This increase comes in part from using real-time data and AI analytics to reach greater control over store performance, localizing assortments, optimizing displays, helping store associates upsell at fitting room and recommend the optimal styles to customers, and Nexite’s unique ability to identify the cause of zero sellers and generate sales from previously slow-moving merchandise.”

The new Connected Retail Solution features dedicated dashboards for:

 

  • Hidden opportunities to sell more per store, audience, and brand– Retailers get visibility into styles which will sell more if increasing visibility on the sales floor, and take actions that increase exposure and have been tailored to their business processes. Another dashboard provides a snapshot of everything in stores not on display, with recommendations of what to put on display in each store based on their potential to sell in that store. 

 

  • Early warnings to reduce overstocking and zero sellers – Retailers receive real-time warnings when customers begin to see, select, or try on merchandise less – even before it impacts sales. The zero seller analysis dashboard ensures new collections are effectively put on display, styles are given the exposure they need, and zero sellers are reduced across all collections and stores. 

 

  • Money Maps to optimize sales per square meter – Each store has a 3D visual replica of the sales floor that helps retailers visualize where the most potential value is. The Maps help retailers track visual merchandising compliance in real time, understand gaps in store performance, and optimize sales per square meter by better utilizing the ‘hot’ converting zones in the store..

 

  • AI-generated actions that increase conversion and sales – retailers can accept recommended actions for merchandise such as moving, transferring, displaying, highlighting, asking for feedback – all on the style/color level. These actions, once accepted automatically generate tasks for store teams on the dedicated Store App

About Nexite

 

Nexite helps fashion retailers take control of their physical retail operations to increase sales with real-time in-store customer behavior data, truly automated inventory management and a digital-first customer and staff experience.

 

Using our Next-gen RFID, IoT and AI technology – the impossibly tiny, battery-free, long-range NanoBT tag – Nexite connects physical merchandise to the cloud to deliver a continuous stream of item-level insights from every store so you can understand and better control what’s happening with your most expensive assets: customers, inventory and staff.  Now, clothes tell you where they are and where they can sell best, why some styles are bestsellers, and others are abandoned before checkout, alert staff when they’re running low, automatically disable alarms at checkout, and offer customers in-store digital experiences and more.