“True to the motto 'Data has a better idea', at The Latest we rely on sensalytics to provide baseline KPIs for both operational and strategic decision-making. Our customers also benefit from the data to constantly improve.“
Dhi Matiole Nunes
Co-Founder
THE CUSTOMER
In the fall of 2020, the Munich-based agency Avantgarde opened The Latest on Berlin's Kurfürstendamm, the store of tomorrow: curated products from startups, young and established brands from the fields of technology and design, fashion and lifestyle, as well as indulgence and health are presented on 260 square meters.
The Latest offers space for around 100 new products. The presentation areas are rented by the brands on a monthly basis and interested customers can try out and test the products on site. The Latest thus enables suppliers to present their products in stationary retail without entering into a long-term commitment and without major financial outlay.
THE CHALLENGE
The Latest is rethinking the entire concept of brick-and-mortar retail. This includes making what happens on the floor measurable and analyzable: All visitors to the store are to be counted as they enter and the walking paths across the entire sales floor are to be constantly tracked. For the individual products in the store, this tracking data will be used to determine how many customers spent how long with which product. It should also be determined whether the customers are men or women.
This mass of collected data is to be meaningfully analyzable via clear key figures in order to provide the operator and the brands with valuable insights into the customers in the store and their behavior. The aim is to make the performance of the entire store and the basic concept of The Latest, as well as that of the individual products and brands, measurable and analyzable.
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