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RapidBlue Metric Links Shopping Behaviour to Purchase
Helsinki, Finland-based RapidBlue Solutions has announced a new metric, 'Gross Shopping Hours' (GSH), which it says is based on the discovery of 'a significant relationship between the brick-and-mortar shopping behaviour of shoppers and retail sales.'
RapidBlue uses radio frequency technologies in retail locations to provide shopper and visitor analytics to retail and commercial property owners via dashboards and other media.
The venture-funded firm studied off-line shopper behaviour using data collected from retail environments worldwide over 24 months. COO Sampo Parkkinen says as a result the firm has 'highlighted a single metric about shopper behaviour that impacts the bottom line of the retailer. GSH is compiled from multiple elements in shopper behaviour and has 'a more than 90% relationship with retail sales', according to RapidBlue, which says shopping centres and others can now 'understand sales fluctuations in real-time without access to retailer sales data'.
Parkkinen continues: 'We're extremely excited to have discovered Gross Shopping Hours (GSH). This metric changes the meaning of analytics for brick-and-mortar retailers... Being able to universally relate brick-and-mortar retail analytics to retail sales is something that every retail analytics company dreams of.'
The company is on the web at www.rapidbluesolutions.com .
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