RetailSonar: Boost Your Location Performance with AI and Data
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RetailSonar: Boost Your Location Performance with AI and Data

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Pieter-Jan De Smet, Marketing Manager, RetailSonarPieter-Jan De Smet, Marketing Manager
Modern retail store owners find it daunting to stay profitable against the growing influence of eCommerce and changing consumer behavior. In such a scenario, opening a new store at a location only to be closed after a few days, can be detrimental to the business. Although retailers look for ways to re-optimize their store network, many of them end up spending years spotting the best location as part of their expansion process. They need to leverage rich and accurate data for efficient location planning and follow their efforts with effective marketing campaigns to boost location performance. Headquartered in Ghent, Belgium, location intelligence expert RetailSonar is helping retailers steer clear of making wrong decisions in expanding their store network and engage more people in the vicinity for maximum campaign performance. RetailSonar enables this through its cloud-based platform that provides insight into all their data in an instant. The unique platform captures and collects up-to-date market data and utilizes artificial intelligence to enable retailers to make well-informed decisions by helping them understand customer behavior from a local perspective. “At a time when the cost of a wrong decision in optimizing store network is higher than ever, our AI-based platform allows clients to make smart decisions that are 90 percent accurate,” says Pieter-Jan De Smet, Marketing Manager of Retail Sonar.

The state-of-the-art platform offered by RetailSonar not only stimulates strategic decisions and guarantees immediate results but also creates a sustainable relationship with clients. “We combine our AI expertise with the know-how of our clients about their markets while making location-based decisions, particularly in three domains,” adds Pieter-Jan De Smet.

At a time when the cost of a wrong decision in optimizing your store network is higher than ever, our AI-based platform allows our clients to make smart decisions that are 90 percent accurate

The first domain relates to location planning that deals with making changes in the store network and detecting hotspots through AI-based predictions to obtain better results and higher sales. In the second domain, the focus is laid on the location performance of stores.With RetailSonar’s tailor-made solutions backed by AI and data, it is possible to benchmark the performance of existing stores, identify underperformers, and set the right actions to make the stores perform to their theoretical potential. The final domain concerns local marketing that deals with sharing the right messages with consumers at the right time. RetailSonar works closely with its clients to understand who they see as competition, target audience, and perfect neighbors.

The unique platform has earned RetailSonar a thriving clientele. For instance, companies from the banking industry approached RetailSonar to optimize their branch networks in accordance with the current digital age. “Even though it was a massive challenge, we helped our clients spot the perfect locations where they were more accessible to their customers,” highlights Pieter-Jan De Smet. With RetailSonar, companies can stay relevant to the current trends and make decisions that are strategic, smart, and cost-effective. In other instance, RetailSonar enabled hearing aid stores to over-perform and create an optimal hearing aid network for the future.

Driven by smart data capturing processes, RetailSonar records open data on a structural basis. It then uses technology and people in the best possible way to clean and enrich the data to make it valuable. So each country is served with relevant local and environmental market data. On the other hand, RetailSonar is integrating more and more data packs from crowd monitoring. Such an approach helps in translating raw anonymous location data from telco or apps into reliable aggregated statistics per road segment or point of interest.

As for the future, the company aims to become the leading geo-marketing company in Europe in the next three to five years.
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Top 10 Retail Tech Solution Companies in Europe - 2019

Company
RetailSonar

Headquarters
Ghent, Belgium

Management
Pieter-Jan De Smet, Marketing Manager and Dieter Debels, CEO and Wouter Souffriau, COO

Description
The unique platform has earned RetailSonar a thriving clientele. For instance, companies from the banking industry approached RetailSonar to optimize their branch networks in accordance with the current digital age. “Even though it was a massive challenge, we helped our clients spot the perfect locations where they were more accessible to their customers,” highlights Pieter-Jan De Smet. With RetailSonar, companies can stay relevant to the current trends and make decisions that are strategic, smart, and cost-effective. In other instance, RetailSonar enabled hearing aid stores to over-perform and create an optimal hearing aid network for the future