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Build a competitive analysis between Retailnext.com and 3 competitors, and include points of differentiation in the market - specifically the industry of brick and mortar retail analytics from: Video Cameras, Cell phones other. FOCUS: companies headquartered in the US only
For the purpose of this research, Euclid Analytics, Radius Network and ShopperTrak were identified as the main competitors of RetailNext based on similarity of services being offered. The four companies cater to the analytics needs of brick-and-mortar stores. In addition, the companies have the same objective of providing insights on customer behavior to increase customer engagement, traffic and sales.
Euclid Analytics, Radius Network, ShopperTrak and RetailNext were all included in the 2017 list of top predictive analytics companies for retail companies by retailcio.com. The companies were evaluated and selected by a panel of CEOs, CIOs, VCs and analysts. Retail CIO Outlook provides the latest trends, technologies and solutions in the retail industry.
RETAILNEXT
Differentiator: RetailNext has the first patented vertical IoT integrated platform that uses video analytics, Wi-Fi and Bluetooth detection of mobile devices and other sources to provide clients with data on shopper behavior.
Estimated Cost of Service: According to practicalecommerce.com, installation cost starts from a few thousand dollars or more depending on the size of the store. Subscription to monthly analytics ranges from $50 to $250.
EUCLID ANALYTICS
Differentiator: Instead of using hardware such as door clickers or cameras like other companies, Euclid uses Wi-Fi systems to monitor traffic inside brick and mortar businesses and to collect MAC addresses from smartphones. As people browse, they can already be tracked in terms of location, their length of stay in an area and frequency of visits.
Estimated Cost of Service: An article by Xconomy quotes a price range of $70 to $300 a month per location for more sophisticated analyses. According to the article, Euclid also has a free option where clients are provided with simple behavioral metrics. Euclid sells services based on tiered, monthly pricing.
RADIUS NETWORKS
Differentiator: Radius Networks claims to be the leader in proximity solutions and services. The company utilizes Beacon technology to improve customer experience. The company also carries a wide range of hardware, software and proximity services. RadBeacon USB is a unique offering developed by Radius Networks. It is the world's first multi-beacon.
Estimated Cost of Service: No information can be found regarding the cost of the company's services. The beacons they sell in the company website's store cost between $10-$29.
SHOPPERTRAK
Differentiator: ShopperTrak takes pride in inventing the business of people counting or counting analytics. The company stays at the forefront of the industry by constantly developing technology, capabilities and expertise.
Estimated Cost of Service: An article from Trax Sales says that the cost of units with installation is around $995 per unit. As for the cost of maintenance, Cloud reporting, 5-year warranty and technical support is approximately $100 a month. The total cost for the first year with monthly recurring costs is estimated to be $2,195.
CONCLUSION:
The attached Google sheet titled Spreadsheet: RetailNext Competitor Analysis contains detailed information regarding each company's competitive advantage, geographic footprint, solutions offered, and pricing.