Category Archives: Announcements

by Ulyana Avetisov

Can retailers afford to forego business intelligence?

426-01

In retail business, as in life, there can be no such thing as stagnancy; you are either moving forward or you’re falling behind. Every tactic that is not in line with the corporate strategy is effectively undermining it. Every expense – whether inventory, technology, rent, sales staff, or any other expense – that is not driven by concrete data justifying its necessity is a waste and the opportunity cost of proper resource allocation is unsalvageable.

Misinvestment into inventory that proves to be slow-moving means sub-par sales, decreased profit margins, and loss of customer interest, which snowballs into lost market share, less resources for the next season, poorer company performance, and impaired investor relations. The effects can be crippling and compound over time.

In retail business, as in life, you only have one shot at getting it right.

It’s no wonder business intelligence is so critical a factor in every industry. A growing number of retailers are seeing the need for a more strategic use of the raw data they collect from every transaction. The challenge then becomes knowing which data to single out from the torrent of data they have available to them: which metrics should a retail company track when leveraging their retail management software’s reporting functions?

When the stakes are so high, you cannot afford to make mistakes. Yet so many companies continue to sacrifice their performance by foregoing the use of BI. According to a SunGard survey of executives in two industries, only 13% of respondents utilize advanced BI techniques such as predictive analytics and alerts. The remaining 87% of businesses are steadily chiseling away at their profit margin with uninformed decisions, or decisions made from siloed departmental data, which is a fragmented, incomplete representation of the company’s health. “The ambition for retail growth, when severed from a holistic recognition of performance drivers and shortcomings, is powerless to effect productive change,” said Kerry Lemos, CEO of Retail Pro International, a global retail management software provider

For the global apparel retail company, American Apparel, business intelligence has been paramount to success. American Apparel integrated retail tools that give comprehensive visibility into all stock across locations, which has resulted in an overall reduction in inventory. Along with better turn, the strategic use of business intelligence also streamlined their related operations, which drives improvement in resource allocation.

But leveraging data for smarter operations is not a feat reserved solely for the global retailer. In fact, small and medium-sized retailers are often in a better position to see into their data and derive actionable strategies for improvement. Crafty Yankee, a US specialty retail gift shop with two locations, saw the value of business intelligence early on. Owner Kathy Fields has been using the reporting tools in her retail management software to inform every aspect of her retail decisions. “I like to analyze my business in different segments. Let’s say we had a 20% increase last month. Where did that come from? Jewelry? Glass? Pottery? Once I see the trend in the data, I can break it down by vendor or resources, and I can compare that data to last year’s.”

The changing retail landscape and evolving customer expectations necessitated her use of BI. “I constantly reshape the store,” said Fields. “We must change with the customer: Patterns, age, tastes.”

Retail Pro University, the training arm of Retail Pro International, has developed a new training series to help retailers capitalize on the data they collect. The new course, titled Understanding Retail Metrics, is a partnership with Dan Jablons from Retail Smart Guys, a consulting company for independent retail. Each video lecture features a particular key performance indicator, from turn to sell through percentage to gross margin return on investment, and, most critically, gives insight on how to use the statistic to be more profitable. Retailers are taking advantage of resources like these as an integral springboard for smarter retailing.

In the same way that uninformed decision-making carries compounding inefficiencies, intelligent use of data in strategic, tactical, and operational retail decisions can create compounding productivity benefits that translate into profits.

BI, says journalist Kim Nash, is all about understanding what makes your company thrive. Knowing what makes your company thrive improves decision-making. Improved decision-making – little by little, day after day, season after season – builds the foundation for sustainable retail growth and long-term retail success.

by Jennifer Bosavage

Converging Retail Channels

In just three short years, the Web will influence $1.8 trillion in retail sales, according to Forrester Research. It’s therefore imperative for retailers to maximize their online potential, and leverage it to enhance traditional store sales, thereby improving overall revenue. By converging the sales channels, retailers can improve inventory ordering, customer satisfaction as well as loyalty.

In the retail marketing world, omnichannel is one of the biggest trends.

In the retail marketing world, omnichannel is one of the biggest trends.

GSI Commerce reports that 45% of consumers prefer shopping for clothing online. That number is likely to trend up, not down. Combined with Interactive Advertising Bureau’s finding that a whopping 80% of people shop through the smartphone, retailers, particularly those with traditional storefronts, must find a way to take advantage of e-commerce and m-commerce sales opportunities, while bringing brick and mortar advantages into the mix.

”Click and collect,” or “Buy online, pick up in store” is an example of how a mobile platform may bring a mobile shopper into the brick and mortar storefront. The mobile phone acts as a gateway; the shopper wants information quickly and in a focused manner; the site offers a way to get in and out of the store efficiently, yet with the benefit of trying it on and returning it on the spot if needed. Furthermore, accessory items are just a cash wrap away — a good way of extending the sale and meeting a customers’ needs simultaneously.

To meet the challenges of converging technology to provide a seamless buying experience, retailers are busy implementing business process integration solutions. Through BPI, a company synchronizes its purchasing channels by connecting disparate systems in real-time. A BPI solution will not only automate manual processes and streamline the communication between different systems and databases, but it also lowers operational costs and reduces dependence on proprietary interfaces.

In addition, process integration provides better insight into customer trends, reduces out-of-stocks (as well as over stocks) and increases customer satisfaction. And that leads to rising  revenue, and even a boost in marketshare.

by Ulyana Avetisov

Retail Pro International and 24Seven Commerce Form Strategic Alliance to Help More Retailers Expand Online with POS Integrated E-commerce

FOLSOM, CA, March 26, 2015 – Retail Pro International (RPI), a leading provider of Point of Sale (POS) and retail management solutions, today announced a strategic partnership with 24Seven Commerce®, a Silicon-Valley based global provider of integrated e-commerce software and market place solutions for independent retailers. The alliance leverages the companies shared capabilities and expertise to provide increased value to their customers and business partners. Through this partnership, 24Seven Commerce is extending the value of its cloud-based e-commerce solutions, making Retail Pro integrated e-commerce accessible to more specialty retailers globally.

24Seven’s cloud commerce solutions are developed specifically for brick-and-mortar retailers and connect directly to Retail Pro® retail management software, delivering a unified platform for managing in-store and online operations, including integration between Retail Pro®, eBay and Amazon.

“24Seven serves an important role in providing an accessible omni-channel solution that is affordable for even the smallest enterprises. Our partnership enables our customers to build and launch an integrated online/offline operation at the minimum investment possible. With 24Seven, Retail Pro customers have access to turn-key integrated e-commerce applications that extend and enhance the capabilities of their physical stores,” said Kerry Lemos, RPI CEO.

As specialty retailers expand to the web, they become increasingly reliant on trusted partners that can deliver scalable cloud-based solutions. 24Seven Commerce combines the power of their e-commerce solution with Retail Pro® retail platforms, enabling retailers to administer web orders and web products through the familiar Retail Pro® user interface, and without data duplication. The 24Seven Cart® also includes an adaptable responsive design and easy to navigate interface for the rapidly expanding segment of smartphone shoppers.

“Our partnership with Retail Pro International validates our mission to extend a retailer’s POS system, providing a unified solution for both physical and online operations, including e-commerce and market places like eBay and Amazon,” said Anil Jindal, CEO 24Seven Commerce. “While on tight budgets, small businesses often lack the knowhow needed to implement and manage a POS integrated e-commerce system. Our mission is to make integrated e-commerce accessible to every brick-and-mortar retailer, deliver it on an easy to manage platform, and provide flexible plans that fit different needs and budgets,” said Jindal.

 

###

 

About Retail Pro International

Retail Pro International (RPI) is a global leader in retail management software that is recognized world-wide for rich functionality, multi-national capabilities, and unparalleled flexibility. For over 25 years, RPI has innovated retail software solutions to help retailers optimize business operations and have more time to focus on what really matters – cultivating customer engagement and capitalizing on retail’s trends. Retail Pro is the chosen software platform for omni-channel strategy by serious retailers everywhere. To learn more, visit www.retailpro.com

 

About 24Seven Commerce, Inc.
24Seven Commerce is a global provider of integrated e-commerce and market place solutions for independent retailers. Our application suite includes 24Seven Cart®, 24Seven Link® and 24Seven Channel®, providing retailers with the tools and professional services required to sell on global marketplaces, including Amazon and eBay. Our feature rich platform is developed specifically for brick-and-mortar retailers and integrated with in-store point of sale (POS). With our client focus being on the specialty retailer, our applications are an affordable solution for the small retailer and start-up. 24Seven Commerce is headquartered in San Jose, CA with an office in Asia. For more details, please visit www.24sevencommerce.com, or call 408-329-6551.

by Jennifer Bosavage

Facebook ‘Friends’ Mobile Payment Industry

Last week Facebook announced it was going to make it easy to transfer funds between people. While that’s not on the same level as paying bills online or paying for purchase at a retail store, it has tremendous implications.

Right now a very small percentage of the overall buying public uses mobile payments. But many are eager to start doing so, and those that do are very enthusiastic. A study earlier this year by Verifone found that 84 percent of shoppers said they would use a phone to pay for small and medium purchases, but that many U.S. adults are still unaware of these services or how to use them.payments

The rollout of Apple Pay in October 2014 made huge strides in the public’s acceptance of mobile payments. Since then, more than 220,000 retailers have partnered with Apple to offer contactless mobile payments, enabling iPhones and iPads to wirelessly communicate with checkout machines using near field communication (NFC) technology. Facebook’s latest move using Messenger to transfer money between friends has the potential to move the needle in a similar manner.

For eight years, gamers and advertisers have processed payments on Facebook. With 1.4 billion active monthly users, Facebook offers huge potential growth in the mobile payment space. And it works very simply: Via Facebook’s Messenger app, users open a message with a friend, tap the $ symbol and enter the amount to send, then tap “Pay” in the upper right, and add a debit card. The friend receives it when he or she opens the conversation and taps “add card” to add a debit card and accept the funds.

The system may eventually help increase retail sales. As IFAN Financial President and CEO J. Christopher Mizer noted: “IFAN has long-recognized the growing synergies between social commerce and mobile technologies. We believe that Facebook’s participation in the mobile payments arena will likely accelerate consumer adoption of peer-to-peer money transfers via smartphone and ultimately add value to our platforms.”

For instance, often times shoppers will see an item and remember that it was something a friend mentioned wanting to pickup. Typically, the shopper would call or text the friend with information on the product, and the friend would need to arrange getting to the store or looking it up online to take ownership. With the increasingly social nature of shopping, however, the purchase can be handled in one trip: The shopper not only advises the friend the product has been located, but also can accept payment for buying it on her friend’s behalf. (It could take one to three business days to make the money available to you depending on your bank, just as it does with other deposits.)

Of course, consumers are still very concerned about security of their information, and time will tell if players such as Apple and Facebook can instill more confidence in mobile payment platforms.  But despite that hesitance, the public is clearly interested in mobile payments, and with Facebook providing a solution it makes the process seem more accessible to many shoppers— perhaps billions of them.

by Ulyana Avetisov

ASICS Chooses Retail Pro® for Its South East Asian Expansion Strategy

Retail Pro International (RPI), global provider of flexible retail management software, is pleased to announce that ASICS, a popular footwear retail brand, chose a Retail Pro® platform over its previous POS solution for their expansion in South East Asia.

Dubai, UAE March 4, 2015  ASICS Asia Pte Ltd, the SEA regional arm of ASICS Corporation, a leading designer and manufacturer of running shoes, is expanding in South East Asia and needed retail point of sale software that would:

  • Centralize store operations
  • Ensure pricing transparency and supply chain visibility
  • Guarantee the consistency of product availability across the markets.

ASICS chose Retail Pro® for its all-in-one, feature-rich POS software platform, with its easily customizable workflows, security and central control.

“Anima Sana In Corpore Sano, meaning ‘A Sound Mind in a Sound Body,’ is the old Latin phrase from which ASICS is derived and the fundamental platform on which the brand still stands,” said ASICS Group Financial Controller, Maureen Neo. “Retail Pro is clearly a sound product in a sound company with its quality and global presence–over 54,000 stores with impressive clientele in over 95 countries.”

ASICS chooses Retail Pro to centralize its store operations.

ASICS chooses Retail Pro to centralize its store operations.

Retail Pro’s® flexible design, easy setup and fast roll-out capabilities, combined with the local expert team at Integrated Retail, a Retail Pro Business Partner in the region, allowed for a quick implementation. With aggressive roll-out targets and region-wide support requirements, RPI’s proven support network across Asia with accessible locations in Singapore, Malaysia, Indonesia and Thailand is critical for ASICS’s retail expansion strategy. Other retail software providers are unable to guarantee the same adoption speed and level of support.

“RPI’s global support network of Business Partners helps our customers tailor Retail Pro to their particular operations, so it’s an exact match for their business needs,” said RPI’s VP for MEA and Asian Markets, Bevin Manian. “As market needs evolve, our customers respond, and local Business Partner experts are there to guide them through the adaptation process, so they aren’t abandoned in their customizations or expansion across channels or geography.”

Retail Pro International and Integrated Retail look forward to many years of supporting ASICS for their continued success in footwear, fitness apparel and accessories retail.

For more information about ASICS, visit www.asics.com

###

About Retail Pro International

Retail Pro International (RPI) is a global leader in retail management software that is recognized world-wide for rich functionality, multi-national capabilities, and unparalleled flexibility. For over 25 years, RPI has innovated retail software solutions to help retailers optimize business operations and have more time to focus on what really matters — cultivating customer engagement and capitalizing on retail’s trends. Retail Pro® is the chosen software platform for omnichannel strategy by serious retailers everywhere. To learn more, visit www.retailpro.com

by Jennifer Bosavage

Mobile Payments Start to Take Shape

Once upon a time, customers had very few options for mobile payments. Today, the technology is improving rapidly and options are growing. More than a quarter (27%) of consumers plan to use some form of mobile payment solution in the next year. Whether that type of payment will be through Apple Pay, Google Wallet or CurrentC — or through digital gift cards — remains to be seen. And a new player has arrived on the scene as well: Samsung’s LoopPay.

LoopPay is unique because it piggybacks on an older, pre-existing technology that virtually every retailer already has: the magnetic stripe. With LoopPay, a metallic coil generates a magnetic current that transmits to the magnetic strip card readers found in most modern payment terminals.In contrast, Apple Pay and Google Wallet are mobile payments services that depend on NFC hardware — the phone communicates wirelessly with the contactless payment terminal.

In adidition, digital gift cards are a large part of the overall mobile payment picture. eGift cards are emerging as part of retail’s payment and loyalty solutions. For example, Starbucks’ reloadable digital gift card acts as a brand’s own currency to add efficiency and reduce cost at the point of sale. But customers must be incented to participate is such programs, so they are rewarded with some of that savings in the form of loyalty points and discounts.

But those plastic cards may soon fade away, replaced by digital counterparts. eGift cards provide always-there access to the money stored on them. Research from eGifter found that 53% of consumers have reached for a plastic gift card only to realize it wasn’t on them when they were getting ready to pay for an item. That dynamic has contributed to more than $27 billion in gift cards going unused from 2007 through 2013, with another $1 billion

in spillage expected this year. While current gift card laws have reduced such spillage, mobile wallets are poised to further correct the problem. Digital gift cards are designed to work in tandem with digital wallets; however, when plastic cards are in the mix, 40 percent of consumers are willing to scan them into a digital wallet to be certain that they always have their cards when they need them.

As retailers implement mobile payment technology, consumers’ willingness to use a particular type or types of technology will determine which ones stores ultimately embrace.

by Ulyana Avetisov

Innovative NYC Apparel Retailer Leverages Retail Pro to Add, then Aggressively Scale New Luxury Spinoff Brand

NEW YORK – In a hyper-competitive New York City apparel market, retailer OMG Jeans has been a mainstay along the Manhattan Broadway district utilizing Retail Pro as their retail management solution across three decades to grow from a single store in 1998 to a local mid-sized retail chain today. After opening dozens of stores, OMG Jeans has found Retail Pro’s flexible deployment options invaluable, particularly the thin-client capabilities delivered with Retail Pro 9. Attracted by Prism’s ultra-flexible and fast deployment options and its cross-platform capabilities, OMG Jeans became one of Prism’s earliest adopters, finding themselves impressed with the new platform’s stability, ease of implementation, lightweight design and intuitive user interface.

In 2012, OMG Jeans shifted their retail strategy to portfolio diversification and market expansion by introducing a luxury sunglass kiosk within their stores. The new offering turned out to be very successful across multiple locations. The market for luxury sunglasses is a surprisingly uncompetitive niche, and after evaluating the market, OMG Jeans’ leadership decided to craft a standalone brand, Specs, to capture market share along the East Coast sector. Specs further secured its position by finalizing a deal to become an authorized reseller of Luxottica designer brands, which gave them access to over 20 of the world’s most recognizable luxury eyewear brands, such as Ray-Ban, Coach, DKNY and  Giorgio Armani.

The first Specs store opened in January 2014 to an encouraging market response, but with a few additional challenges as well. Although Specs’ leadership team was very familiar with Retail Pro, miscommunication with a business partner led them to believe to that another retail management system, Lightspeed, was required for use by all Luxottica resellers.  As Specs’ relationship with Luxottica comprised a core value offering for their business, upon launching, the new brand aimed to maintain symbiosis with its primary reseller by implementing Lightspeed.

Not long after implementation, Specs soon encountered issues with Lightspeed’s inability to be flexible and adapt to their business workflows. After learning that the perceived stipulation was indeed a misunderstanding, Specs quickly transitioned back to Retail Pro, implementing combinations of Retail Pro 9 and Retail Pro Prism, realizing that several of the platform’s key attributes, in addition to the store operators’ familiarity with the software, positioned them to scale the brand rapidly.Specs

Retail Pro’s choice of database and cross-platform capabilities shined especially in this regard. Retail Pro’s flexible database options let Specs configure instances of MySQL and Oracle databases in various combinations, allowing them to tailor future implementations to a new store’s individual hardware requirements and preferences.  Retail Pro Prism’s cross-platform capabilities also gave Specs the freedom to deploy Retail Pro smoothly across all-in-one desktops, as well as iPad & Android tablets with no loss in functionality or change in workflow. The glaring, untapped market space in the luxury eyewear market, combined with the ability to stabilize Specs’ operations and workflows using Retail Pro, gave Specs the confidence to capitalize on a unique opportunity to scale its new brand aggressively. Between January and October 2014, Specs opened an impressive 7 new stores in 3 regions along the East Coast: New York, Maryland, and Washington DC.

“After returning to Retail Pro, we were truly able to appreciate the value of being able to easily tailor a workflow to your needs,” explained Joe Bahar, Head of IT at Specs. “Just as well, Retail Pro has always been easy to train new associates on, but now with Prism, the interface is even more intuitive and works across platforms, so that now we can train new employees on multiple devices in a really short time. Basically this gives us the freedom to add employees or devices at whatever rate we choose, which is critical at our stage of buisness. Retail Pro has always been easy for us to install and implement, but now being able to rely on it to scale Specs exactly the way we want to is both extremely promising and very refreshing.”

by Ulyana Avetisov

Retail Pro University and Your New Year’s Resolution

January always feels like a fresh start, like turning to a new page in a notebook.  After the rush and bustle of the holidays, it is a time to reflect and set resolutions to help you achieve your business goals.

Did you know that 45% of people make New Year’s resolutions but only 8% of them follow through?  According to a recent study published by the Journal of Clinical Psychology, the top two resolutions (after losing weight and getting in shape) involve getting more organized and making better financial decisions.  47% of survey participants indicated that their resolutions were related to self-improvement and education.

Learn to Get the Most Out of Your Retail Pro with Retail Pro University

At Retail Pro University, we want to help you succeed in the self-improvement and education resolutions you set for your business.

You have probably heard that your Retail Pro is a valuable tool to maximize productivity and enhance the shopper experience. But even the best tool can’t help if you don’t align its capabilities to your needs and strategies.

Retail Pro University’s comprehensive training classes teach you to tap into Retail Pro’s potential, so you can get the most out of your Retail Pro.

 

Retail Pro University’s Flexible Learning Optionsrpi university

Live, in-person classes are held every month at our offices located near Sacramento, California.  In just two weeks, you and your employees can be fully certified in three different programs: the applications expert, the systems engineer, and the reports professional.

We can also bring our training to you with a two-week course held at your office.  Save time and money by training your entire staff at the same time.  Call or email us to find out about custom training solutions.

People who explicitly make New Year’s resolutions are 10 times more likely to attain their goals than those who don’t explicitly make resolutions.  If your goals include using your Retail Pro to increase efficiency as you grow your business, let us show you how a Retail Pro education can help you accomplish your resolutions.

Make 2015 the year you invest in being more productive and educated, so you can improve your business operations with a Retail Pro University training.

 

Tell us what you would like to learn this year with Retail Pro University!

 

 

by Jennifer Bosavage

Mobility, NFC, Boost POS Market

Last week’s National Retail Federation’s Big Show showcased many advances in point-of-sale terminals. Transaction speed, efficiency and accuracy are offered in different shapes and sizes destined to meet the needs of every retailer. Propelling that market’s growth is the desire of retailers to upgrade equipment to enable adoption of near-field communication technology for payments, according to a new study by Grand View Research. The dramatic popularity and subsequent growth of the NFC-based smartphone category, in addition to increasingly affordable wireless communication technologies, will continue to influence the mobile POS terminal market.  According to the report’s authors:

Mobile POS (mPOS) systems give customers convenient options for checking out in the store and can provide employees with additional information to assist shoppers.

Mobile POS (mPOS) systems give customers convenient options for checking out in the store and can provide employees with additional information to assist shoppers.

“mPOS terminals are expected to replace the current transaction and payment techniques owing to their improved features such as mobility and better user experience. They allow sales and service industries to conduct financial transactions remotely for improving customer experience. Mobile POS terminals have low initial cost as compared to their traditional counterparts leading to increasing demand from SMBs. Retail and hospitality sector have experienced significant growth in demand for mPOS solutions, driven by increased need for customer analytics features and high ROI.”

The researchers also found that the ease of use and improved return on investment offered by those newer systems has favorably impacted the market. Increased demand for mobile POS terminals such as smart card EFT (Electronic Funds Transfer) is also estimated to stimulate the market. Advanced POS systems are more durable and reliable than their ancestors (aka, cash registers), resulting in significant reduction in total cost of ownership (TCO), making them a hot ticket for small and midsize businesses, which are always trying to maximize cost efficiencies.) Further, the introduction of chip-embedded payment cards and personal identification numbers have minimized security concerns pertaining to sensitive data theft, which is also expected to augment POS terminals market growth. The global POS terminals market was valued at more than $30 billion  US in 2012; the POS software segment is expected to surge in the near future due to increased demand from retail businesses, in large part. In fact, the study found that retail is expected to remain the major market segment during the next six years.

by admin

Learn all about Open to Buy in next week’s Retail Pro webinar

There are many strategies and tools that retailers use to boost their operations, whether its point of sale software, loyalty initiatives or marketing efforts, among other factors. Another method that significantly helps merchants is Open to Buy planning, as this gives businesses more insight into their inventory and its related aspects for a clearer view of current processes and performance.

Retailers that want to know more about Open to Buy and how it can benefit their companies can sign up and tune in next Thursday, June 13, for the Retail Pro webinar on the strategy. Registration information can be found at https://www2.gotomeeting.com/register/380156530.

Independent Retailer writes that Open to Buy is vital for any merchant that wants to succeed. Without having a clear picture of inventory and how stock levels support sales, businesses could experience setbacks, such as a failure to accurately forecast future inventory needs and know when markdowns should occur. Perhaps the most detrimental factor that comes from lacking an Open to Buy planning process is lost sales, as customers will go elsewhere to find the products they want.

Companies can avoid these problems by developing an Open to Buy plan, and interested retail industry professionals can learn all about the strategy at next week's webinar.