NEW YORK, Jan. 13, 2022 (GLOBE NEWSWIRE) — NRF Jacob K. Javits Convention Center, NYC, Booth #948 – Pathr.ai, the industry’s first and only artificial intelligence (AI) powered spatial intelligence platform, today announced three powerful new spatial intelligence analytics tools focused on helping retailers drive in-store profitability. Pathr.ai’s CPG Display Tool, True Conversion Rate Tool, and Brand Effect vs. Location Tool are all designed to deliver previously unavailable business insights that empower retailers to obtain higher levels of revenue and make stronger business decisions for their physical stores.
“Retailers today lack in-store analytics around customer behavior – critical information that can lead to increased profitability and improved business outcomes. We designed our new tools to address some of the most pressing concerns for retailers,” said George Shaw, CEO and Founder of Pathr.ai. “In addition to our Brand Effect vs. Location Tool and True Conversion Rate Tool, now, for the first time ever, retailers will be able to assess the effectiveness of CPG brands at their stores with our CPG Display Tool.”
Pathr.ai’s new tools include:
- CPG Display Tool: For the first time ever, retailers have a solution that helps them assess the effectiveness of CPG brands at their stores with store-level data to directly measure and maximize the impact of Category Management efforts. By analyzing shopper traffic and dwell impressions within various store departments, retailers can enhance their strategic CPG brand partnerships by offering them valuable data to improve their merchandise placement and marketing promotions. This information also allows CPG brands to better understand how their products are performing in different areas of a store and can be a potentially lucrative new data source for retailers.
- True Conversion Rate Tool: Allows retailers to quantify group size dynamics in their locations (ex: families, couples, or singles) and delivers a more accurate buyer conversion rate for retailers. This is a huge departure from how the conversion rate is typically calculated, with most retailers measuring individuals, not groups. If a family of 4 enters a retail location, usually only one person from that family will pay for a product, not all 4. In addition to a more accurate conversion rate, this data can also be used to inform merchandising and in-store promotion initiatives.
- Brand Effect vs. Location Tool: Lets retailers assess how effective their store-within-a-store brands and locations are performing. For example, retailers can leverage this data to understand the full business impact of their store-within-a-store, assessing if that location resulted in traffic to other areas or if it outperformed conventional sections of their store. Retailers can quantify traffic and dwell times around store-within-a-store locations to benchmark rents for each area and guide potential adjustments in location and surrounding store signage to improve performance.
“Spatial Intelligence can be a powerful asset to retailers focused on maximizing their profits and improving operational efficiencies critical to their success,” said Alan Flohr, Chief Revenue Officer of Pathr.ai. “We’ve created our insight tools to empower retailers to make business decisions in an accurate and data-driven way, and ultimately share that insight with their CPG supplier base.”
Pathr.ai integrates and collects data from a retailer’s existing camera infrastructure. It measures customer movement inside a physical space anonymously – allowing companies to comply with GDPR and CCPA standards and achieve positive business results in an unbiased way.
These tools are available immediately. To learn more, visit https://pathr.ai/ or visit Booth #948 at the show.
Pathr.ai is the industry’s first AI-powered spatial intelligence software company that uses anonymous location data from available and existing infrastructure to observe human behavior in any physical space. Its sophisticated technology turns raw behavioral and spatial data from existing sensors into actionable and applied business learnings – allowing companies to drive the business results that matter most to the growth of their companies in real-time. Founded in 2019, Pathr.ai is headquartered in Mountain View, California. To learn more about Pathr.ai, please visit https://pathr.ai/.
Linden Kohtz, CommStrat for Pathr.ai