Innovator Intelligence: Radius8—In-Store and Digital Experiences Powered by Local Demand

Executive Summary

This report forms part of our Innovator Intelligence series, which focuses on emerging companies that are disrupting traditional retail and fueling innovation across the retail value chain.

Radius8 has created a platform that empowers retailers to dynamically merchandise online by using data on their physical stores and local market intelligence to provide contextual discovery for shoppers, which ultimately drives both online conversion and store foot traffic.

• Mass store closures, soaring online sales and changing shopper expectations testify to the rapidly shifting nature of retail. At the same time, many traditional retailers are underleveraging their brick-and-mortar stores, despite the fact that physical stores still account for the majority (~80%) of sales and have lower customer acquisition costs and higher customer lifetime value than online stores.
• The Radius8 localization cloud collects data on local browsing behaviors, weather, store inventories, events, geolocation, time of day, social trends and in-store sales trends, then leverages analytics on these data. The platform identifies differences between store locations and shoppers’ proximity to stores, providing retailers with insights on local in-store and online buying trends that enable them to offer more relevant and engaging experiences across physical and digital channels.
• Radius8’s Pre-Shop and Smartbars tools enable retailers to provide dynamic, store-powered catalog pages on specific website pages, such as store search engine optimization (SEO) pages and store locator pages, to connect with shoppers during the pre-shopping experience. The tools allow consumers to view inventory available in local stores, reserve products for pickup and receive localized product recommendations.
• National retailer Guess implemented Radius8’s Smartbars on its store SEO pages, and claims that it saw increased click-through rates and greater average order value (AOV), while recording a rapid ROI.
• Radius8 provides two core feature sets: store-centric online experiences and digital-centric in-store experiences that are based on local digital demand. These experiences are rapidly becoming table stakes to meet rising consumer expectations.