10/13/2015
RetailNext Acquisition Transforms Targeted Mobile Marketing
RetailNext Inc., which does retail analytics for brick-and-mortar stores, has acquired Pikato, a Chicago-based company whose cloud-based software transforms retail mobile marketing channels into personal interactions between retailers and shoppers.
The acquisition immediately extends RetailNext’s comprehensive analytics platform to encompass Pikato’s market-leading solution for mobile shopper engagement, boasting the deployment of targeted marketing solutions in thousands of standalone stores and 160 shopping malls, and engaging a total customer population of 47.6 million individual users, including 5.7 million unique monthly users. Within those marketing deployments, retailers regularly experience an eight-fold increase in coupon redemption rate, doubling basket size and delivering a 10 percent increase in profit margin.
The new RetailNext solution, marketed as Targeted Marketing & Engagement, transforms the way CMOs and retail marketers drive engagement, loyalty and sales via mobile and other personalized interactions by delivering three major capabilities:
1. Retail marketers can now plan and execute targeted, mobile interactions with ease and at scale. The solution is deployed and activated in weeks with no disruption to the business, channel vendors or IT environment.
2. 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.
3. Retail marketers can finally manage 1:1 personalized engagements across all retailer communication channels, including SMS, Point-of-Sale, email, in-store Wi-Fi, beacons and more, effectively making RetailNext the single targeted marketing and engagement platform retailers need.
Pikato’s mobile engagement solution has a proven track record in producing an exponential increase in redemption rates of mobile coupons by more effectively executing on personalized, mobile marketing recommendations delivered across multiple touchpoints.
The RetailNext acquisition of Pikato is subject to customary conditions of closing, and will be accounted for as a purchase transaction. The transaction is expected to close by the end of the quarter.
The acquisition immediately extends RetailNext’s comprehensive analytics platform to encompass Pikato’s market-leading solution for mobile shopper engagement, boasting the deployment of targeted marketing solutions in thousands of standalone stores and 160 shopping malls, and engaging a total customer population of 47.6 million individual users, including 5.7 million unique monthly users. Within those marketing deployments, retailers regularly experience an eight-fold increase in coupon redemption rate, doubling basket size and delivering a 10 percent increase in profit margin.
The new RetailNext solution, marketed as Targeted Marketing & Engagement, transforms the way CMOs and retail marketers drive engagement, loyalty and sales via mobile and other personalized interactions by delivering three major capabilities:
1. Retail marketers can now plan and execute targeted, mobile interactions with ease and at scale. The solution is deployed and activated in weeks with no disruption to the business, channel vendors or IT environment.
2. 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.
3. Retail marketers can finally manage 1:1 personalized engagements across all retailer communication channels, including SMS, Point-of-Sale, email, in-store Wi-Fi, beacons and more, effectively making RetailNext the single targeted marketing and engagement platform retailers need.
Pikato’s mobile engagement solution has a proven track record in producing an exponential increase in redemption rates of mobile coupons by more effectively executing on personalized, mobile marketing recommendations delivered across multiple touchpoints.
The RetailNext acquisition of Pikato is subject to customary conditions of closing, and will be accounted for as a purchase transaction. The transaction is expected to close by the end of the quarter.
