Sales Audit Saves Millions For NEX

Auditing retail sales doesn’t require an advanced degree in mathematics. In and of itself, it’s simple addition of tender and payment types in pursuit of a topline number that matches total sales. In theory, determining your cash-on-hand requires nothing more than data, time, and simple math. But when you run more than 400 multi-segment stores staffed by more than 13,000 associates and operated by 11 different management “jurisdictions,” that simple math can get a bit fuzzy.

FEATURED VIDEO CASE STUDY

  • Interactive Retailer STORY Gains Insights Into Customer Behavior With Video Analytics
    Interactive Retailer STORY Gains Insights Into Customer Behavior With Video Analytics

    STORY is a 2000 square foot retail store in New York with a unique approach to floor plans and store design. Every four to eight weeks the entire showroom is torn down and rebuilt with a completely different theme to tell a different ‘story’. STORY wanted to better understand how to optimize their ever-changing floor plans based on its customer’s behavior and began looking for a video analytics solution. Check out this full video case study now to discover STORY’s chosen solution and results!

THE CURRENT ISSUE

  • The 180-Day Plan
    The 180-Day Plan

    What you can do to minimize six months of pain from a credit card breach

  • Merchandise Management Becomes Second Nature For Soft Surroundings
    Merchandise Management Becomes Second Nature For Soft Surroundings

    An established catalog company successfully expands its brick-and-mortar operations using a complete retail management software solution.

  • iBeacon: Monster Benefits From Mobile Apps
    iBeacon: Monster Benefits From Mobile Apps

    On the heels of the NRF show, where iBeacon technology was the flag bearer for a massive contingent of consumerfacing mobile applications, I was eager for Brad Fick’s take. Fick is president at mega-integrator Direct Source. I’m suspicious of any integrator who would claim to have more experience building these things into real-world retail environments than Direct Source, and Fick is one of those guys unafraid to disclose failure. When guys like that tell you a technology is a winner, it’s a safe bet they’ve already put money on it and come out ahead.

  • Retailers Go On Offense Against Organized Retail Crime
    Retailers Go On Offense Against Organized Retail Crime

    Standing up to ORC requires keeping up to date on LP best practices and building toward a comprehensive national strategy.

  • Kiosks Support Converged Channels And Differentiated Shopping
    Kiosks Support Converged Channels And Differentiated Shopping

    Channel convergence is on the top of retailers’ to do lists, and progress requires a multi-faceted approach.

More From The Current Issue

RETAIL INDUSTRY RESEARCH

Can You Meet Consumer Expectations At Any Cost?. Mobile 2014: Best Bets And Epic Fails In Retail Mobility. Supply Chain Execution 2014: Making Any-Channel Retail Fulfillment Profitble.
Can You Meet Consumer Expectations At Any Cost? Mobile 2014: Best Bets And Epic Fails In Retail Mobility. Supply Chain Execution 2014
There’s no prescriptive approach to establishing true, seamless, anychannel retail commerce, but experts agree on four imperatives to the equation. Mobile POS races to the bottom, customer service apps reign supreme, and BYOD begins to make perfect sense. Omni-channel is evolving and maturing. Retailers are turning from envisioning the future of digitalenabled shopping toward making that vision a reality.

More Industry Research

RETAIL GUEST EXPERT SERIES

  • Keeping Your Branch Locations Up And Running
    Keeping Your Branch Locations Up And Running

    How to maintain critical business continuity for online transactions.

  • In-Store Analytics Will Change The Face Of Loss Prevention
    In-Store Analytics Will Change The Face Of Loss Prevention

    We all know that “shrinkage” is no joke – current research estimates that shoplifting and other forms of fraud cost retailers more than a hundred billion annually. And while the use of security cameras for loss prevention purposes is widespread, pinpointing incidents worth investigating can be a painstaking process, and some activities, such as return fraud and “sweethearting” at the register, are notoriously difficult to detect. Is there more that retailers can be doing to combat shrinkage? Hiring more resources to monitor security video and patrol store aisles is not necessarily practical, or even desirable, but technologies for in-store data collection and analysis may offer a better way.

  • Engaging Shoppers With In-store WiFi
    Engaging Shoppers With In-store WiFi

    By the time many retailers started talking seriously about mobility, the “mobile invasion” had already occurred – and it’s quickly reshaping how consumers shop. Forward-thinking retailers moved fast to leverage this trend for greater customer engagement.  For those who haven’t fully embraced mobile, now is the time to get in the game. More than half of U.S. consumers own smartphones, and those who don’t are adopting them at a steady pace.

  • Quick How-To: Secrets For Mobile E-Commerce Success
    Quick How-To: Secrets For Mobile E-Commerce Success

    The mobile market is one of the fastest growing opportunities for retailers looking to drive sales and gain a competitive advantage. People are now spending more time on mobile devices than they are watching TV or on a desktop computer. Goldman Sachs predicts that global ecommerce sales made via mobile devices will top $638 billion by 2018. That’s roughly equal to all global ecommerce sales in 2013. Total online spending in the U.S. grew 14 percent in 2013, compared to single digit total retail spending according to comScore.

  • True Workforce Optimization Requires Going Beyond The Vital Signs
    True Workforce Optimization Requires Going Beyond The Vital Signs

    Managing a retail operation in today’s hyper-competitive market place requires visibility to key performance indicator (KPI) metrics that serve as the vital signs of operational health.  In this first in a three part series we will examine one such KPI, and explain why taking things at face value may lead to some unexpected and undesirable results.

More From The Expert Series

FEATURED CONTENT

More Featured Content

FEATURED RETAIL SOLUTIONS PROVIDERS

  • CognitiveTPG
    CognitiveTPG

    CognitiveTPG is a leading provider of on-demand barcode and point-of-sale transaction printers to the retail, healthcare, manufacturing, service and financial sectors worldwide. For over 35 years, CognitiveTPG has supplied its customers with compact and ultra-reliable printing solutions.

  • Sprint Retail
    Sprint Retail
    In today's retail environment, you've got to be quick. Quick to go to market first. Quick to have new stores and staff fully functional. Quick to give customers exactly what they want. With Sprint Retail Solutions, you'll be one step ahead of the game with seamless communications at a low up-front cost.
  • EarthLink
    EarthLink

    A wave of innovation in retail technology provides opportunities to enhance the way your customers engage while increasing employee productivity and strengthening PCI compliance. But how do you upgrade your stores without driving up costs? EarthLink Business® can help you get more from your IT and communications infrastructure with solutions tailored to store size, application needs and seasonal changes.

  • SATO America, Inc.
    SATO America, Inc.

    Today, SATO continues its tradition of designing and manufacturing high-quality industrial printers that deliver reliable performance with each print job.

  • CFI Group
    CFI Group

    CFI Group helps organizations across the private and public sector use voice of the customer insights to improve customer satisfaction, leading to increased loyalty, recommendations and financial results.

  • Celerant Technology Corporation
    Celerant Technology Corporation

    Celerant Technology, a privately held Corporation, develops in-house and provides high-quality, advanced retail management software systems to retail organizations.

FROM THE EDITOR'S DESK

Omni-Channel Retail: A Black Hole For Operational Shrink?

I had the benefit of getting a sneak peek at some brand new retail customer research released by CFI Group last week. One consumer stat that jumped out clearly underscores just how “omni-channel” shoppers really are, and just how much an unprepared retailer stands to lose by meeting cross-channel customer demands.

Webrooming: A True Omni-Channel Benefit

Webrooming has been referred to as one of retail’s (somewhat) recent trends, but consumers have been webrooming long before it was given a name. Anyone with a computer or a smartphone could have webroomed years ago. The opposite of showrooming, webrooming is the practice of browsing online and buying in-store, and according to Accenture, 88 percent of shoppers are doing it. As retailers step up their game with same-day pick up and seamless shopping experiences, webrooming is expected to increase throughout 2014.

Retail Teaches “Consumerization” 101

With a slight, yet palpable degree of trepidation, Oracle hosted its first “Industry Connect” conference in Boston March 24-26. The ‘major ERP provider holds a single conference for all of the industries it serves’ concept isn’t new, but it’s nonetheless risky. Logistically, it challenges conference organizers to make it easy for representatives from each industry to find and settle into their respective programming tracks.

Consumer Resistance To In-Store Tracking: Now What?

In the April issue of Integrated Solutions for Retailers, Matt Pillar wrote a great article about the customer centric and business benefits of the iBeacon technology.  He explains that the iBeacon is a welcome addition to retail’s technology lineup not only because of the real-time, personalized offers it helps deliver to consumers, but also due to the real-time data it can capture for the business — aisle-specific dwell time, traffic counts, etc. — at a cost-efficient price.

More From The Editor

ABOUT INTEGRATED SOLUTIONS FOR RETAILERS

Integrated Solutions For Retailers is the premier source for technology solutions in the retail industry. Our goal is to help retail executives make informed decisions about technology and operations solutions for every sales channel. The magazine and website provide insight on how retailers can achieve critical business objectives by integrating leading-edge solutions across the entire retail enterprise.

Integrated Solutions For Retailers has a strong commitment to coverage on omni-channel retailing (including fulfillment, mobility, and marketing), in-store systems & operations, and loss prevention. Our annual resource guides and research supplements feature content and opinions from our editorial staff and the retail analyst community.

Over the years, Integrated Solutions For Retailers+ has achieved an unparalleled reputation for the development, organization, and presentation of information necessary for IT and operations users as well as the entire C-suite. Readers are enriched with valuable information that can improve your business and make it more profitable. Please take a moment to join our community and discover the benefits of your free subscription and membership.

MULTIMEDIA

  • Interactive Retailer STORY Gains Insights Into Customer Behavior With Video Analytics

    STORY is a 2000 square foot retail store in New York with a unique approach to floor plans and store design. Every four to eight weeks the entire showroom is torn down and rebuilt with a completely different theme to tell a different ‘story’. STORY wanted to better understand how to optimize their ever-changing floor plans based on its customer’s behavior and began looking for a video analytics solution. Check out this full video case study now to discover STORY’s chosen solution and results!

More Multimedia

FEATURED PRODUCTS

  • SATO Take-A-Number Systems
    SATO Take-A-Number Systems

    It is not always possible to service all of your customers as quickly as you would like. A Turn-O-Matic system allows your customers to wait in relaxed comfort without having to worry about missing their turn.

  • Perfect Pick
    Perfect Pick

    A revolutionary picking technology that is uniquely scalable and able to grow with your business.

    Building an automated multichannel fulfillment network that provides the highest level of customer satisfaction often seems out of reach for many small to medium sized businesses. Typically, businesses are forced to spend significant money up front on automation for what they might need 3, 5, or even 10 years down the road. Instead, what if you could invest in entry-level technology that is able to grow at the rate your business grows? Perfect Pick offers growing businesses the opportunity to purchase an automated system to meet today’s requirements, secure in the knowledge that it can quickly and easily adjust to future demands.

  • EmpowerWFM
    EmpowerWFM

    Designed for  the most complex, enterprise-wide labor management environments, EmpowerWFM delivers true workforce optimization in real-time via a suite of flexible integrated solutions, including budgeting, forecasting scheduling, and powerful analytics.

  • M2M Solutions From Sprint
    M2M Solutions From Sprint Machine-to-Machine applications are expanding exponentially, and Sprint is leading the charge with its innnovative partners to bring these ideas to life.
  • Workbrain Workforce Planning
    Workbrain Workforce Planning Operating on the critical front lines of the retail operation, an optimal workforce creates a shopping experience that is profitable for retailers and satisfying for customers.
  • Technology Solutions For Retailers
    Technology Solutions For Retailers

    Your goal is gaining customer loyalty and driving repeat business. And to reach that goal you've got to provide a superior customer experience. Optimize the breadth and strength of logistics, and we'll help you get more flexibility, more savings, and more satisfied customers.

More Featured Products