RetailNext Partners With Bespoke To Help Retailers Transition From Online To Offline
Six e-commerce apparel sellers hope to make the leap from experimental pop-up shop to permanent physical store.
Bespoke, the triple-combo events, co-working, and demo hub for “the business of retail technology,” has signed up clicks-to-bricks data provider RetailNext to support pop-up shops working within its warehouse-like space.
The initial project involves assisting six fashion designers who want to expand their respective e-commerce models into full-fledged physical operations. Read the release.
Bespoke will provide a place for the pop-ups within its 3,000 square foot place (dubbed “the white box”) at the Westfield San Francisco Centre, while RetailNext, which completed a $125 million fifth round funding in April, will supply the designers with consumer insights designed to show them how to transform digital-only customers into walk-in sales.
To solidify the partnership, RetailNext has opened its new San Francisco office in Bespoke’s co-working space, filling it with a team of platform engineers and retail analysts.
Bridget Johns, head of Customer Engagement at RetailNext, says that the San Jose, CA.-based company has worked extensively with both Westfield and its Westfield Labs group to better understand today’s shoppers and their new shopping behaviors and desires. As the concept of the Bespoke retail incubator was being discussed, RetailNext jumped at the opportunity to collaborate, Johns says.
GeoMarketing: What is Bespoke’s role in working with burgeoning retailers and how do RetailNext’s in-store analytics fit in with its incubator program for these pop-up businesses?
Bridget Johns: Bespoke is a demonstration, co-working, and event space in Westfield San Francisco Centre. The specific application of retail analytics is in the demonstration space, in particular the 3,000 square foot “white box space” that will house a variety of pop-up tenants — six at the initial launch.
The “white space” environment is a place where its pop-up tenants will innovate, experiment and learn, and the results will go a long way in shaping what retail looks like in the future.
We already know the customer journey has changed and retail has been caught trying to catch up with it. But, online-to-offline retailers, along with new entities, are now approaching the art and science of retail with a “beginner’s perspective,” unhindered with both legacy systems and outdated business paradigms. [RetailNext’s] analytics provide the hard data to make the best decisions.
What specifically will RetailNext’s analytics help Bespoke’s businesses do at the outset?
In all six cases [of the tenants], it is their first foray into the brick-and-mortar world. RetailNext’s analytics allow them to learn the physical retail space – what works and what doesn’t – and provides useful data for everything from store design and fixture layout to merchandising and staffing.
The white space, complete with its retail analytics, is the perfect environment to creatively innovate and experiment, test and control, and learn and continually improve. The insights gathered will not only help the tenant properties better grow into their future brick-and-mortar footprints, but will shape the future delivery of the shopper experience for retailers everywhere.
What does this partnership follow for RetailNext? What other partnerships have you formed recently?
RetailNext constantly evaluates opportunities to expand its capabilities for customers and shoppers. Earlier this year, RetailNext announced its partnership with Nielsen. And we’re continually building out the analytics platform with third-party applications from companies like StepsAway. With the recent announcement of securing an additional $125 million in growth funding, RetailNext will be rapidly expanding its global business.