Terms of the deal were not disclosed. The investment comes as brands and retailers seek ways to improve the shopping experience amid the convergence of digital and physical. Radius8’s platform aims to “bring the influence of the physical store to the brand’s e-commerce site,” the company noted.
“This new functionality allows the customer to browse and reserve items that are available in the nearest John Varvatos store,” Radius said in a statement. “This enables the shopper to come into the store understanding that their preferred size in a specific product is in-stock and on hold.”
The tech start-up said “store powered experiences” are a priority for shoppers, and noted that 80 percent of consumers “pre-shop” their store visits. “Providing inventory data and reserve functionality is critical to meeting the rising demands of today’s consumer for store-connected pre-shopping experiences,” Radius8 said adding that its technology also “enables a more curated experience for customers in-store.”
The company explained that after a shopper reserves products online, “the store associate immediately begins preparing the merchandise for the client’s arrival in store.”
“While the store associate is gathering the reserved items, they are also curating additional pieces for the customer to try on to complete the look,” the company explained. “They are able to do this by utilizing critical information captured by Radius8 specifically, customers product interest, size, and other key information the customer may have shared.”
Radius8 said offering a “store powered experience” for consumer who shop online “drives greater conversion and brings customers into the physical store where average order value and customer lifetime value are maximized.”
Guy Sommerhalder, chief operating officer at John Varvatos, said working with Radius8 allows the fashion brand to “translate the strength and distinctive nature of our in-store experience to our customers online by offering inventory visibility of locally available products.”
“We are able to combine advanced digital technology with the opportunity to touch and feel our products and experience the brand in stores,” Sommerhalder added. “This fosters a previously untapped level of connection with our customers and helps us stand out as a brand.”
Aside from John Varvatos, Radius8 counts Guess and Zumiez as among its clients.
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