Editor’s Note
This Q&A with RetailNext CEO Alexei Agratchev offers a glimpse into the origins and vision of the pioneering in-store analytics firm. His background at Cisco Systems, where he led new product initiatives, provides crucial context for understanding the company’s innovative approach to bridging the physical and digital retail worlds.
Q&A with Alexei Agratchev, CEO of RetailNext
May 13, 2025
Before founding RetailNext in 2007, the world’s first technology company dedicated to providing advanced in-store analytics for brick-and-mortar retail businesses, Alexei Agratchev spent eight years at Cisco Systems. During his tenure at Cisco, Alexei held a number of leadership positions with direct responsibility for developing and launching new product lines. He was the Founder and General Manager of an internal startup within the Cisco Systems Emerging Technologies Group focused on developing video applications for the gaming and retail markets.
Prior to Cisco Systems, Alexei was a consultant at Accenture in its Electronics and High Tech Operating Unit. He was responsible for designing and implementing enterprise solutions that enhanced business performance for various corporations.
Among Silicon Valley Business Journal’s 40 Under 40 list, Alexei holds a bachelor’s degree in International Relations from Claremont McKenna College, where he graduated Magna Cum Laude. He has also completed the Stanford Graduate School of Business Executive Program and the Cisco Leadership Series.
What does RetailNext do?
“At RetailNext, we’re bringing e-commerce-style insights to brick-and-mortar retailers. Currently, we’re trusted by 560+ retailers in 100+ countries. Businesses can use our SaaS solution to help measure store occupancy, analyze foot traffic, optimize store layouts, and prevent theft—this, in turn, empowers these retailers to boost sales, reduce costs, and enhance the overall shopper experience.”
How will Battery Venture’s investment drive your next phase of growth?
“The investment from Battery Ventures has equipped us to accelerate product innovation, expand our global team, and acquire complementary technologies. With this capital, we’re doubling down on delivering cutting-edge analytics that will help retailers elevate their in-store experience.”
What types of AI and retail tech startups are you targeting for acquisition, and how will they enhance your current offerings?
“We’re looking at companies that can help us with geographic expansion and strengthen our presence in key markets (e.g. India, Latin America, France and Germany). We are also looking at complementary technologies that can help retailers do more with our data and provide additional value to our customers. We are especially interested in products that provide value to store operations.”
Can you share a success story where RetailNext’s analytics significantly transformed a retailer’s in-store performance or customer experience?
“Let’s look at Daniel’s Jewelers, a legacy jewelry retailer. Before working with us, they struggled to understand how in-store traffic correlated with marketing campaigns and store performance. With our Traffic 3.0 solution, they were able to track customer behavior (such as peak shopping hours), check on dwell times near high-value displays, and assess how in-store campaigns like promotions or events influenced foot traffic.”
After analyzing the data, Daniel’s Jewelers made key operational changes, such as shifting staffing schedules during peak hours and moving around the placement of promo displays. They also tied traffic patterns directly to marketing efforts, measuring the ROI of their campaigns for the first time. In doing so, they achieved a 10% increase in average transaction values, improved overall customer satisfaction, and created a more engaging in-store shopping experience.
With the rise of experiential retail and omnichannel strategies, how is RetailNext helping brands meet evolving consumer expectations?
“The modern shopper expects the best of both worlds: the convenience of online shopping and the tangible, engaging experience of brick-and-mortar stores. RetailNext enables brands to deliver just that. Our platform acts as the bridge between physical and digital, integrating data from multiple touchpoints—AI sensors, POS systems, marketing campaigns, and even foot traffic outside the store.”
For example, let’s say a retailer runs a major omnichannel campaign for a product launch. Using our predictive traffic forecasting, the retailer can analyze how online promotions translate to in-store visits. Additionally, this passby traffic is over and above the predictive traffic in the stores, so they can measure how many people walk past the store, stop to look at a window display, and ultimately enter.
Beyond this, we help retailers create personalized in-store experiences. By combining online and offline data, store associates can tailor their approach. For example, recognizing loyal customers who frequently shop online but are visiting the store for the first time. This integration of data helps brands stay agile and meet evolving expectations.
What innovations can we expect from RetailNext in the coming years?
“We’re advancing our Traffic 3.0 solution with features like queue detection, staff exclusion, and enhanced deep learning capabilities. We also have our sights set on prioritizing AI-driven predictive analytics that will help retailers forecast traffic and optimize store layouts, ultimately transforming the physical retail experience. We’re building a world where physical stores are as dynamic and data-driven as e-commerce, and that’s a vision I’m proud to lead. Above all, we just want to stay committed to our customers. We want to continue listening to their challenges, adapting to their needs, and keeping our focus on value delivery.”
After 10+ years at the helm, how has your vision for RetailNext evolved, and what excites you most about the company’s future?
