Improve Financial Performance

Improve Financial Performance

The complexities surrounding retail financial
performance have increased drastically over the past
decade. With high competition and numerous ways
consumers can now shop. Effective smooth-running of
operations is essential; a chink in the value chain can
disrupt the customer experience, and cost retailers.

  • Sell More Stock
  • Reduce Stock Holding
  • Reduce Shrinkage
  • Increase Associate Productivity
  • Improve Cash Flow

Increase Profitability -
Sell More Stock

How much stock are you hiding from customers both in-store and online?

Customers cannot buy what is not displayed. Stock layouts and availability from various styles, all available colors and size options are expected to be on display and easy to find. While seemingly simple in concept, consumers are disappointed when they are unable to complete either in-store or online purchases.

‘’By simply ensuring the right products are on display at the right time and on-shelf availability maintained to 100%, has been proven to increase sales revenues’’

Increase Profitability -
Reduce Stock Holdings & Markdowns

Know what's selling and always have the right
stock available.

Misjudged inventory decisions – including overbuying, wrong
types of products and misallocating inventory can account for an estimated 53% of unplanned markdown costs for retailers.

Regular cycle counts, good supply chain visibility, a combination of POS + POE information and inventory counting gives retailer’s higher levels of accuracy of available stock.

Increase Profitability -
Reduce Shrinkage

An effective profit protection strategy

The average shrink percentage in the retail industry is about 2% of sales. Without an active inventory process, or a product protection plan retailers do not realise their losses until it is too late.

Increase In-Store Productivity

Retail store expenses continue to rise, reducing profits.  The additional complexities of consumer expectations put further pressure on stores, with many becoming distribution and returns centers. With payroll the single largest operating expense in retail, it is imperative that in-store operations run as efficiently as possible and staff are deployed effectively to best serve shoppers. Cost of sales can typically represent  50% – 80% of a retail business cost, so inventory control strategies must be deployed to manage this effictively.

Increase Associate Productivity

By equipping associates with the right tools and action driven task management, retailers can achieve higher in-store compliance, quicker stock movement while improving the customer experience by freeing up staff, ensuring they are available to serve customers at the front of store.

myer
CASE STUDY

Myer
Analysing the commercial benefits of RFID

To find out how Myer tests the commercial benefit of RFID technology.

Read our case study

Increase In-Store Productivity

Improve Cash Flow

Over-stocking, seasonal demand, labor demands, inconsistent or inefficient processes and incorrectly forecasting sales all reduce cash flow and impact profitability.

Improving processes, reducing expenses and freeing up your staff incentivises customers to spend in-store.

RFID is revolutionising the retail industry

● Increase Sales - Sell more stock
● Complete supply chain visibility
● Source tagging strategy
● Reduce stock holding
● Reduce markdowns
● Reduce shrinkage

Increase Profitability -
Sell More Stock

How much stock are you hiding from customers both in-store and online?

Customers cannot buy what is not displayed. Stock layouts and availability from various styles, all available colors and size options are expected to be on display and easy to find. While seemingly simple in concept, consumers are disappointed when they are unable to complete either in-store or online purchases.

‘’By simply ensuring the right products are on display at the right time and on-shelf availability maintained to 100%, has been proven to increase sales revenues’’

Increase Profitability -
Reduce Stock Holdings & Markdowns

Know what's selling and always have the right
stock available.

Misjudged inventory decisions – including overbuying, wrong
types of products and misallocating inventory can account for an estimated 53% of unplanned markdown costs for retailers.

Regular cycle counts, good supply chain visibility, a combination of POS + POE information and inventory counting gives retailer’s higher levels of accuracy of available stock.

Increase Profitability -
Reduce Shrinkage

An effective profit protection strategy

The average shrink percentage in the retail industry is about 2% of sales. Without an active inventory process, or a product protection plan retailers do not realise their losses until it is too late.

Increase In-Store Productivity

Retail store expenses continue to rise, reducing profits.  The additional complexities of consumer expectations put further pressure on stores, with many becoming distribution and returns centers. With payroll the single largest operating expense in retail, it is imperative that in-store operations run as efficiently as possible and staff are deployed effectively to best serve shoppers. Cost of sales can typically represent  50% – 80% of a retail business cost, so inventory control strategies must be deployed to manage this effictively.

Increase Associate Productivity

By equipping associates with the right tools and action driven task management, retailers can achieve higher in-store compliance, quicker stock movement while improving the customer experience by freeing up staff, ensuring they are available to serve customers at the front of store.

myer
CASE STUDY

Myer
Analysing the commercial benefits of RFID

To find out how Myer tests the commercial benefit of RFID technology.

Read our case study

Increase In-Store Productivity

Improve Cash Flow

Over-stocking, seasonal demand, labor demands, inconsistent or inefficient processes and incorrectly forecasting sales all reduce cash flow and impact profitability.

Improving processes, reducing expenses and freeing up your staff incentivises customers to spend in-store.

RFID is revolutionising the retail industry

● Increase Sales - Sell more stock
● Complete supply chain visibility
● Source tagging strategy
● Reduce stock holding
● Reduce markdowns
● Reduce shrinkage

Discover more on how our solutions fully respond to the challenges of improving financial performance

Source Tagging Solutions
RFID IoT Software Solutions
Software Solutions
Apparel Labeling Solutions
Electronic Article Surveillance (EAS)
Alpha High Theft Solutions