Sharaf DG, the leading electronics destination in the Gulf Cooperation Council (GCC) countries, today announced its partnership with RetailNext, the leading data analytics solution for brick-and-mortar retailers, to power its in-store data-sharing platform. Speaking at the recent RetailNext Executive Forum 2023 in Louisville, Kentucky, leaders from Sharaf DG shared with 100+ C-suite retail executives how RetailNext’s comprehensive store data drives retail intelligence in its physical locations and has laid the foundation for future data monetization programs.
Founded in 2005, Sharaf DG is the UAE’s leading multi-brand retailer operating 30 stores in the United Arab Emirates, Bahrain, Egypt, and Oman with more on the horizon. While building its in-store data-sharing platform, Sharaf DG turned to RetailNext to provide accurate store traffic and conversion, plus a more comprehensive analytical view of their shoppers’ journeys through their stores. The RetailNext store data, combined with other data sets such as staff data, demand forecasting and inventory management, provide a clear picture of brand performance.
Sharaf DG divides its retail space into "brandboxes" in which a certain amount of floorspace is allocated to a specific brand. This allows for the precise measurement of the performance of those brands and their specific items in-store. Sharaf DG set out to maximize the utility of brandboxes by collecting integrated data analytics to better understand consumer-product-employee interactions, which ultimately inform key strategic decisions for resources planning, merchandising, and staffing allocations. The comprehensive data also yields an abundance of insights for partnering brands to uncover real-life customer shopping trends, in a way that they could have never done before.
Using RetailNext’s tailored advanced analytics approach, Sharaf DG is able to collect vital data that answer important business questions for brands, such as what percentage of customers visiting a store enter a brandbox and how many of those customers spend more than 10 seconds in a brandbox down to the average seconds a shopper spends in a particular square foot in a brandbox. Additionally, data from RetailNext’s Full Path Analysis indicated better ways to optimize staffing presence, highlighting instances where more staff on hand would have maximized sale potential.
“We have combined the full suite of data from RetailNext with our operational data from other systems to provide actionable insights to our brand partners at every shop in shop. Not only are we benefiting from the data internally to optimize in-store operations, but the many brands we work with access ezInsights through a portal to make data-informed decisions about their businesses to improve performance,” said Sharaf DG CEO and Founder, Nilesh Khalkho.
“As the leading electronics and appliance destination in the region, Sharaf DG is the standard bearer among its peers and RetailNext is honored to serve as the technology backend that powers its end-to-end, data-driven operations across the entire shopper journey,” said Alexei Agratchev, CEO and Co-Founder for RetailNext. “We are especially proud of how our partnership is producing valuable data for the brands that Sharaf DG works with and we are excited to explore other ways in which our data supports future business projects.”
The first technology platform to bring e-commerce style shopper analytics to brick-and-mortar stores, brands, and malls, RetailNext is a pioneer in focusing entirely on optimizing the shopper experience. Through its centralized SaaS platform, RetailNext automatically collects and analyzes shopper behavior data, providing retailers with insight to improve the shopper experience in real-time.
More than 400 brands in over 90 countries have adopted RetailNext's analytics software and retail expertise to better understand the shopper journey in order to increase same-store sales, mitigate risks and eliminate unnecessary costs. RetailNext is headquartered in San Jose, CA. Learn more at www.retailnext.net.
About Sharaf DG
Sharaf DG is a leading Specialty Electronics Retailer based in Dubai and operates over 30 stores in UAE, Oman, Bahrain, Egypt and marketplaces for B2C and B2B customers. It serves millions of customers in its stores and online. It engages more than 500 brands through its retail as a service marketplace model inside physical stores and online. It provides ICT solutions and services to over 50,000 SMBs in GCC. Sharaf DG is a member of Euronics International (http://www.euronics.com/) which operates over 10,000 stores in over 30 countries. Sharaf DG is headquartered in Dubai, United Arab Emirates. Connect with Sharaf DG on www.sharafdg.com.Contact: firstname.lastname@example.org