The retail market is getting a lot of help from two Tampa Bay technology firms.
CCG, a data analytics company in Tampa, and Marxent, a St. Petersburg company that focuses on virtual and augmented reality, were among the companies showing off new products for retail clients at Shoptalk, a trade show in Las Vegas.
CCG took the wraps off Customer Intelligence for Retail, an analytics platform that provides tools that lets mid-market retailers attract and keep more customers and get insights into customers’ buying behaviors.
CCG highlighted its work with vineyard vines, a clothing and accessories retailer, citing two examples of how the technology boosted sales.
In one case, the data from the CCG platform showed vineyard vines that its women customers were buying products for men and for children, but not for themselves. Using that data, the company developed a campaign to focus on women’s products that increased sales for those products by 46 percent.
In another case, the data showed a dip in new customers during the holiday season.
“We were quickly able to act off this information and implement two credit card acquisition partnerships that targeted our best potential customers, resulting in a very successful holiday period,” Chris Fitzpatrick, vice president of business analytics and strategy at vineyard vines, said in a news release.
The CCG platform also helped vineyard vines measure the value of new brick and mortar stores against their overall business, develop a website personalization strategy to increase online sales and better understand buyer demographics. Overall, vineyard vines saw a more than 150 percent return on investment in the first year it used the technology, the news release said.
Marxent, which has drawn national attention for its partnership with Macy’s and other furniture retailers, is now offering social media teams for home goods stores a virtual reality product that lets users upload a photo and design a room around it.
The product, 3D Room Designer with Photo to Floorplan, appeals to retailers courting millennials.
“Starting with a photo — this is how 20- and 30-somethings want to shop and how they want to design,” Beck Besecker, Marxent’s CEO and co-founder, said in a news release. “Instagram, Pinterest, and Houzz know that millennials are acting on inspirational photos discovered through unbranded searches (like ‘blue sofa’ or ‘modern lamp’). Our data shows that they also want to use interactive photos to plan an entire room or kitchen remodel.”
Major retailers using the technology to sell whole rooms are seeing up to a 50 percent increase in “basket size,” or average transaction value, the news release said.
A handful of other Tampa Bay area companies also were scheduled to attend Shoptalk, which continues through tomorrow. Jagged Peak, a Tampa ecommerce firm, said it would showcase its full spectrum of software and services. Triad, a digital marketing company in St. Petersburg; Ashley Furniture, with an ecommerce operations center in Ybor City; and Lakeland-based Publix Super Markets also were on the attendees’ list.