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

  • 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.

  • Moneyball Management: Playing The Labor Stats
    Moneyball Management: Playing The Labor Stats

    Hannaford, a subsidiary of $27.8 billion Delhaize Group, is banking on analytics as the cornerstone of workforce optimization.

  • Taking An Iconic Brand Cross-Channel
    Taking An Iconic Brand Cross-Channel

    A single-source POS and e-commerce system drives store growth, 25% jump in Web sales for BEER NUTS, Inc.

  • 7 Questions Retail Executives Need To Ask Their IT Departments
    7 Questions Retail Executives Need To Ask Their IT Departments

    Being proactive in overseeing security policy and procedure is essential for retail executives.

  • 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.

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.

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RETAIL GUEST EXPERT SERIES

  • 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.

  • Wine Retailer Opts For Hybrid Solution
    Wine Retailer Opts For Hybrid Solution

    Capturing a clear image of the denomination on a bill deposited in a cash register or the label on a $2,000 bottle of wine requires a high-definition IP camera, but if your video recorder limits your options to analog only, what do you do?

More From The Expert Series

FEATURED CONTENT

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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.

CURRENT RETAIL HEADLINES

  • Fortinet Leads Industry In Zero-Day Discoveries

    Fortinet a world leader in high-performance network security recently announced that FortiGuard Labs, the global threat research arm of Fortinet, discovered 18 critical zero-day vulnerabilities in 2013 – more than any other network security vendor in the industry.

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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!

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FEATURED PRODUCTS

  • 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.

  • Total Store Care
    Total Store Care

    By leveraging a powerful combination of retail expertise, round-the-clock availability and extensive technical resources, Total Store Care enables you to take full advantage of technology that will help you capture, engage and convert shoppers into buyers.

  • Celerant Command Retail Web Development E-Commerce
    Celerant Command Retail Web Development E-Commerce Celerant has developed and launched over 33 custom sites for various clients, for both first time e-commerce retailers and also retailers that decided to replace their pre-existing, established sites.
  • 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.

  • Thor Vehicle-Mount Computer
    Thor Vehicle-Mount Computer

    In today’s supply chain, the only constant is change. Disruptions, whether short-term like a forklift failure, or long-term like a natural disaster, are a fact of life. The supply chains best prepared to adapt to these disruptions will use mobile computing technology that gives them greater flexibility.

  • Toshiba TCxWave
    Toshiba TCxWave

    TCxWave by Toshiba is a new breed of retail system created to give retailers the freedom to use one platform for multiple purposes throughout the store. TCxWave has the flexibility, performance and distinctive design that global retailers have come to trust from the team that continues to produce the Number 1 store solutions in the industry.

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