Radius8 launches retail technology platform with Guess
Retail tech startup Radius8 announced on Monday the launch of its technology platform with Guess. Guess will serve as the company’s launch partner and the technology will roll out across Guess stores this summer.
The new technology creates a direct connection from any consumer’s device to the physical retail store that is closest to them. This allows retailers to curate local store inventories online in real time to customers who are online and at nearby stores. The platform marries retailers’ current technologies with its cloud-based analytics, which provides insight to local online browsing. Instead of customers having to search an e-commerce site for an item’s local availability, Radius8 enables instant access to inventory and drive traffic and sales right into the store.
“This technology will help make the retail store a key strategic advantage,” said Sandeep Bhanote, Radius8 co-founder and CEO. “While the customer journey to the store begins online, more than 70 percent of consumers still prefer to buy apparel, footwear and cosmetics in-store where they can touch and feel the product and try it on. But foot traffic in stores is down considerably because there is a lack of information in the store that turns off consumers. Radius8’s solution bridges the gap.”
Guess SVP-Head of Retail and E-Commerce Edward Park added, “Radius8’s technology is connecting the synergy between two valuable channels -- online and offline -- so we can truly respond to our customers’ needs and wants in their local areas across all 450+ of the Guess, G by Guess, and Guess Kids North American stores.”
Founded in 2016, Radius8 is a Princeton, NJ-based team of retail technology experts. The company secured a pre-seed funding round of $1 million from Brooklyn Bridge Ventures, Commerce Ventures, Tigerlabs and Arc Angel Fund.
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