Singapore – Digital brand agency Bonsey Jaden and tech firm CUE Group have introduced a data-drive solution which is primed for the retail industry that delivers a deeper understanding of consumer practices with real-time analytics, at all levels of operations and marketing.
RetailX, developed by CUE Group, is one of the latest solutions to be included as part of Bonsey Jaden’s 360 integrated approach to necessary digital transformation.
The partnership comes after the recent investment of CUE Group to Bonsey Jaden in September 2021, aiding to boost the digital development of enterprises, industries, and governments.
With existing methods of data monitoring, companies should be able to understand the flow of traffic in both their physical and online outlets, as well as identify unique patterns among their specific clientele. However, many ultimately fall short in implementation; although solutions similar to RetailX already exist for the benefit of face-to-face retail, the landscape of consumer behaviour is constantly shifting, highlighting the common fallacy that depending on artificial intelligence is the only way forward.
“In a similar vein, the greatest advantage with RetailX is achieved by giving equal importance to an expert team, and understanding that top-down data interpretation is possibly the most crucial step in not only sales advancement and improvements to customer experience, but also in business as an entire field—including marketing,” both companies said in a press statement.
RetailX acts as an enabler that gathers and analyses in-store traffic data to empower retailers with key insights to make smart business decisions, from the obvious to the out-of-sight—from identifying customer foot traffic both in and out of a brick-and-mortar to a full consumer profile, including but not limited to age, gender, and purchasing patterns.
In addition, the data gathered through RetailX introduces a new perspective for store operation management, paving the way for a more targeted and personalised shopping experience, potentially accelerating sales growth.
Daniel Posavac, group CEO of Bonsey Jaden, said, “Since embarking on this new relationship with CUE Group, it has been exciting to explore how we can integrate their avant-garde technologies with our own unconventional ideas and applications. We look forward to bringing RetailX beyond the retail industry into other industries that could benefit from it, such as hospitality, health and fitness, food and beverage, and many more.”
He added, “The information we get in the end allows us to strategize more efficiently, for both online and offline consumers of all identities and personas—we can cover more ground while keeping it personal.”
