RetailNext acquires cloud-based marketing provider
Brick-and-mortar analytics provider RetailNext Inc. is expanding into the marketing space.
RetailNext has acquired Pikato, http://www.pikato.com/ a Chicago-based company whose cloud-based software enables personal, one-to-one mobile customer interactions.
The acquisition immediately extends RetailNext’s analytics platform to encompass Pikato’s solution for mobile shopper engagement. Pikato’s targeted marketing solution is used in thousands of standalone stores and 160 shopping malls, and engages a total customer population of 47.6 million individual users, including 5.7 million unique monthly users.
The Pikato solution is designed to improve performance in areas such as coupon redemption rate, basket size and profit margin.
The new RetailNext solution, marketed as Targeted Marketing & Engagement, ·will allow retail marketers to plan and execute targeted mobile interactions. Offers delivered to shoppers will increase in relevance and effectiveness as the system employs advanced machine learning and rules to incorporate and analyze hundreds of data points, now including in-store shopper behavior data.
As a result, users will be able to manage one-to-one personalized engagements across all retailer communication channels, including SMS, POS, email, in-store Wi-Fi, beacons and more.
“When a retailer can more effectively engage with its shoppers – on shoppers’ terms, not the retailer’s – the shoppers benefit,” Alexei Agratchev, CEO of RetailNext, told Chain Store Age. “When shoppers benefit first, retailers benefit long-term, with greater shopper retention, shopper loyalty and ultimately, store profits.”
The RetailNext acquisition of Pikato is subject to customary conditions of closing. The transaction is expected to close by the end of the quarter.
No comments found