Russia’s leading retail analytics company, and the author of the Watcom Shopping Index, has signed off on an exclusive distribution agreement of the US-based RetailNext’s advanced suite of in-store analytics to drive additional value for its Russian retailer customer base, the company said in a press release on February 12.

RetailNext Inc. is a leading international company for smart store retail analytics to optimise shopper experiences. Among Watcom’s services is its ability to track foot traffic in Russia’s leading malls in its leading cities so the franchise owners can better understand shopping habits and improve their store’s performance.

Watcom also produces the Watcom Shopping Index, which give almost all retail information about consumer habits that is regularly published in bne IntelliNews. The latest results showed the shopping index got off to its worst start on record during the first three weeks of 2021.

“Our retailers have matured beyond the need for basic traffic counting and require an increasingly complex set of data to optimise their businesses. With the RetailNext platform we will be able to deliver the most sophisticated, easy to manage and cost-effective entrance traffic/footfall analytics as well as the advanced analytics required to optimise marketing, operations and merchandising inside of the store. RetailNext suite of solutions and extensive support for channel partners will fuel the next phase of Watcom Group growth in the Russian and CIS market,” said Watcom Group general director Roman Skorokhodov.

RetailNext has seen explosive growth in its channel partner programme over the past year, and now has more than 50 distribution partners globally. The company continues to expand its international footprint as well as its distribution to companies seeking solutions such as asset protection, building occupancy and retail banking analytics through these partnerships.

“We have long admired Watcom’s position in the Commonwealth of Independent States (CIS) markets and are especially excited by their understanding of the role data and analytics is playing in the evolution of retail. With RetailNext, Watcom Group will be able to deliver a comprehensive set of analytics at the door and throughout the entire shopper journey, giving retailers the data they need to grow and optimise as they emerge from the [coronavirus] COVID-19 pandemic. We are very excited to have them as our partner in this market,” said Alexei Agratchev, co-founder and CEO of RetailNext.

As the first retail vertical IoT platform to bring e-commerce style shopper analytics to brick-and-mortar stores, brands and malls, RetailNext claims to be a pioneer in focusing entirely on optimising the shopper experience. Through a centralised platform, RetailNext automatically collects and analyses shopper behaviour data, providing retailers with insight to improve the shopper experience in real time.