How Loss Prevention Leaders Drive Sharper Visibility in Retail – Infographic

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Effective loss prevention is always a hot topic among retailers, and in a recent infographic developed by Tyco, the security firm highlights the top sources of inventory shrinkage among retailers, as well as potential solutions.

Based on data from the 2011 National Retail Security Survey conducted by the University of Florida, the total inventory shrinkage dollar amount for that year was $35.28 billion dollars, with primary shrinkage sources coming from:

  • Employee theft (44.2%; or $15.59 billion)
  • Shoplifting and organized retail crime (35.8%; $12.63 billion),
  • Administrative (12.1%; $4.27 billion),
  • Vendor fraud (4.9%; $1.73 billion)
  • Unknown sources (5.3%; $1.87 billion)

Solutions like Retalix’s Connected Cashier Analyzer, Connected ShrinkTrax and Demand-Driven Replenishment applications help provide retailers with greater visibility into their store operations, and help them quickly identify loss prevention opportunities.

Loss prevention shrinkage

Five Questions Retailers Should Ask When Choosing a Systems Integration Partner

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As retail IT infrastructure becomes increasingly complex, many retailers’ internal systems integration (SI) organizations are struggling to maintain the processes and resources required to support vital systems and applications. To make things worse, SI is no longer limited to technology alone, but has expanded to include broader business aspects of the entire retail IT environment and lifecycle.

Therefore, choosing a system integration partner is no small task. Below are five questions retailers should ask themselves when choosing a partner:

1.      How will my system integration partner build the most effective program that meets my business needs, my budget and my timelines?

The ability to build an effective program relies heavily on your SI partner’s knowledge of the products and applications within your organization. This characteristic is vital to delivering strategic, high-quality services that are on budget and on time.

By selecting a partner that thoroughly knows and understands your technology ecosystem, you will save time and money while becoming more efficient and responsive across your business.

For the best project results, your partner should implement a structured program that includes all of the necessary building blocks of successful deployments – change management, quality management, delivery and architecture services.

2.      Does my prospective partner have enough experience and resources in-house to create a comprehensive program? 

To achieve ideal results, make sure your partner has seasoned experts and professionals on staff with relevant experience in the retail industry, technology and products. They should also be able to properly assign the most qualified resources to each task, per the program goals and objectives.

By outsourcing IT activities, retailers can re-focus on their core business, while the system Integration partner completes the IT tasks at hand. The partner should also routinely report back to the customer and provide complete visibility and transparency into all deployment processes.

3.      Can my partner execute on a program that incorporates multiple vendors?

Be sure that your SI partner can successfully implement complex programs with multiple vendors. The partner should offer a structured plan based on best practices and proven methodologies, including communication programs that ensure successful planning, execution and management of the solution implementation and the business transformation process.

An effective communication plan helps guarantee that accurate and consistent communications are conveyed at the right time, by the right source, to the right audience, via the right channel. The result is a system that communicates important information to program stakeholders and sponsors and enables timely and ad-hoc decision-making.

4.      Does my system integration partner know how to maximize the potential of my applications, while aligning them with my business strategies?

One of the most important characteristics of a system integration partner is its innate ability to unleash the full potential and benefits of your applications. With their deep knowledge of your products, they should already understand all features, functions and capabilities of the hardware and software that you’ve deployed. Thus, they should be able to easily analyze your business requirements and configure your systems in a way that effectively meets your objectives, while generating efficiencies and cost savings across your business.

5.      Will my partner help ensure a smooth technology deployment?

As retail technology becomes more sophisticated, capable and intricate, practical implementations become increasingly complex, time consuming and costly. Therefore, it is important that retailers engage highly professional service providers with the experience and skill-set required to simplify and streamline deployment processes.

Whether facing system integration tasks of limited scope, or highly complex, , be sure that your partner can provide you with ideal solutions for any implementation needs. If you need help finding an SI partner, please contact the Retalix SI Services team today at shirley.kovach@retalix.com

Mobile Payments in Retail: Where are We Headed?

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Mobile Payments in Retail: Where are we headed? from Retalix on Vimeo.

IT executives from Target, Saks Fifth Avenue and United Supermarkets recently gave their insights and perspectives on the topic of mobile payments during the Retalix Synergy 2012 conference. They discussed how mobile payments might emerge in the coming years, and what challenges lie ahead for the technology and for retailers.

Takeaways include:

  • Brad Thompson, director of IT-stores and financial services at Target, is excited about mobile payments. His stores have wholeheartedly committed to the merchant-customer exchange (MCX) – a consortium of retailers that is developing a payments network designed for retailers. He hopes it will become an industry standard for mobile payments, while giving retailers the ability to still develop, offer and deliver relevant coupons and promotions to customers.
  • Windell Manuel, SVP & CTO of Saks Fifth Avenue, is looking at mobile payments. However, he is concerned that his company will select a standard, and then the industry will change the standard again and head into a different direction. He also believes the industry should consider the consumer standard and preferences, along with the industry’s standards.
  • Chris St. Clair, EVP of information and logistics and United Supermarkets, says Apple drives the consumer adoption of mobile payments, and their non-committal on NFC is a significant issue. In addition, Visa’s requirement to implement “chip and pen” is potentially game-changing, forcing retailers to deploy a mechanism that accept mobile.

Retail Technology Ascends to the Cloud and Software-as-a-Service

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The Cloud, Software as a Service and Retail Operations from Retalix on Vimeo.

The cloud and software-as-a-service (SaaS) are increasingly becoming big players in retail technology. During the Retalix Synergy 2012 conference, a panel of the world’s top leading retailers talked about the rise of the cloud and whether or not their companies are embracing it.

Viewpoints include:

  • Chris St. Clair, EVP of information and logistics and United Supermarkets, discusses how cloud-based payments systems like Retalix’s Connected Payments software is beneficial for his grocery chain.
  • Ed Collupy, VP of retail IT and POS systems at The Pantry says the cloud has allowed his company to provide a “sandbox” for its merchandise analytics team to compile and sort through market basket data.
  • Phillip Robbins-Jones, IT director of Tesco, says they have an open mind to cloud-based technologies, but they haven’t been as robust as others. That may change as they may consolidate some data centers in the near future.
  • Windell Manuel, SVP & CTO of Saks Fifth Avenue, says the cloud helps them better focus on their market differentiators. He and his company have turned to SaaS based systems to drive cost-effectiveness and to unload business functions that are less valuable.
  • Chris Stanley, head of sales at Woolworths Limited, has dabbled in the cloud, but has stepped away from it at the moment. His focus is studying where the customer is going next, seeing where value-added services would be most needed, and applying those types of services.
  • Brad Thompson, director of IT-stores and financial services at Target, says they use SaaS and the cloud a lot. For example, on the company’s website, all product reviews and recommendations are delivered by software-as-a-service. He also warned that companies should take a sophisticated approach when assessing cloud providers, because they’re not all the same.

Bringing Online and Offline Shopping Together: Does It Work?

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During Retalix Synergy 2012, executives from Tesco and Woolworths Limited ’s discussed their current omni-channel initiatives, and whether or not customers could shop online and then consummate their transactions inside a store, or vice versa.

Highlights include:

  • Phillip Robbins-Jones, IT director of Tesco, says that while his company’s omni-channel initiatives are successful, they’re not entirely seamless. However, he’s found that when customers are given the opportunity to shop online and then pick up general merchandise in the store, more than 60 percent take advantage of the service.
  • Chris Stanley, head of sales at Woolworths Limited, says his company provides an app that allows consumers to build a shopping list that they can then be used for either in-store or online transactions. They have seen very encouraging results to-date.

The Pros and Cons of Mobile Shopping

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Mobile shopping is a hot topic in the retail industry, and executives at some of the world’s top retailers recently shared the pros and cons of mobile shopping during Retalix Synergy 2012. Some executives raved about its use and potential, while others believe it could limit the needed interaction between employees and customers.

Viewpoints from the session include:

  • Phillip Robbins-Jones, IT director of Tesco, is testing mobile shopping in his stores, and believes that if it works, he will be in favor of implementing across his chain. However, at the present time, does not believe there is enough information to support mobile technology one way or another.
  • Brad Thompson, director of IT-stores and financial services at Target, thinks mobile shopping has a place in his stores, but it must first be tested and learned to be successful. The pre-shopping research and list-building capabilities in particular are exciting, because they help prepare consumers for their shopping experiences.
  • Ed Collupy, VP of retail IT and POS systems at The Pantry, is currently using mobile technology, but notes that the trick to making it successful is learning how to lead the customer from the fore court into the store.
  • Chris St. Clair, EVP of information and logistics and United Supermarkets, doesn’t think mobile shopping will displace the associate at the point of transaction, but does believe it will enable a more user-friendly experience, as well as more information-sharing.

 

Social Media In Retail – Big Brands and their Businesses

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As retail executives continue to grasp the potential impact of social media in retail as a marketing tool, two retailers discussed their contrasting views and experience with those platforms during Retalix Synergy 2012. The Pantry, in particular has seen increased customer engagement and sales during a recent social media campaign that highlighted its soda fountain offerings.

Major viewpoints include:

  • Ed Collupy, VP of retail IT and POS systems at The Pantry. He discusses two of his company’s recent and successful social media campaigns. While they were different in nature, they were both effective at reaching the target audience and exceeding fundraising goals.
  • Chris St. Clair, EVP of information and logistics and United Supermarkets. He doesn’t see a strong correlation between social media and sales at his grocery chain. However, he does agree that platforms like Facebook and Twitter should be used as a relational tool to build their brand and promote advocacy.

The Pros and Cons of Retail Self-Checkout

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Self-checkout and self-service have become controversial topics in the retail industry. Some retailers love the technology, while others do not. At Retalix’s Synergy 2012 Conference, several of the world’s top retailers discussed their mixed perspectives on self-checkout and how they feel the technology will fare in the future.

Major takeaways from the session, include:

  • Brad Thompson, director of IT-stores and financial services at Target said his company has resisted the use of self-service technology until they recently tested it in select stores. The results were surprising, but the company is still in limbo as to whether or not its tests support the statistics.
  • Chris St. Clair, EVP of information and logistics and United Supermarkets, said his self-service strategy is not a self-checkout strategy. The grocer instead uses kiosks to manage its loyalty campaign. His company values the employee/customer interaction experienced during more traditional checkout processes, and he sees that as a direct conflict with self-service transactions.
  • Chris Stanley, head of sales at Woolworths Limited, believes differently. In his stores, about 40 percent of customers elect to go through self-checkout. This allows employees to engage consumers more on the sales floor, where they’ve proven to be more effective.
  • Phillip Robbins-Jones, IT director of Tesco, cites two examples self-service being implemented in stores around Europe.  He discusses various ways self-service and self-scanning technology can improves the shopping experience.

What is the Next Big Thing in Retail Technology?

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Several of the world’s top leading retailers recently led a discussion about “the next big thing” in retail technology during Retalix’s Synergy 2012 conference. The panel shared their forward-looking visions, as well as the types of technology they see emerging in the industry. They were also asked to describe what they feel captures their aspirations either as a business or IT professional.

Key perspectives:

  • Phillip Robbins-Jones, IT director of Tesco, believes that personalization will be significant trend. He also predicts that “scan-as-you-shop” retailing is going to change shape and enable true personalization with consumers’ mobile devices.
  • Windell Manuel, SVP & CTO of Saks Fifth Avenue, says his company will be focused on the future of mobility. His vision is to use mobile technology in a way that meets the needs of retailers and consumers alike.
  • Ed Collupy, VP of IT & POS systems at The Pantry, has a few ideas stemming from the company’s recent annual retreat. One interesting concept is an automated in-store kiosk that can provide customers with made-to-order hot food in one minute.

Employees Celebrate New Building – Pictures

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Retalix Israel employees celebrated the completion of their move to the brand new Retalix office building yesterday.

The buildup for the event started with intriguing teasers sent by email and posted on the digital signage system in the week that preceded the event. On Monday, March 11th, the surprise awaited Retalix Israel employees as they arrived to work in the morning.

A fresh fruit shake- bar with tasty drinks was set up in the balloon- filled lobby. An actor dressed as Columbus welcomed everyone who walked through the door and invited them to tour the building, and lively background music contributed to the fun.

Each floor in the new Retalix Israel building is named after a different country in which Retalix operated. In the 7 cafeterias spread throughout the building’s floors, employees were greeted by an actor dressed in a costume representative of the respective, and invited to eat or drink foods typical for this country.

For instance, an actor dressed as Uncle Sam invited employees to eat pancakes in the US floor, an actress dressed as the queen of England invited employees to sip a cup of tea with biscuits in the UK floor, and a lively kangaroo offered beer and munchies in the floor named after Australia.

Additional fun activity in the Lobby included a unique photo opportunity: carrying boxes against a truck backdrop.

Great fun was had by all! And here are some pictures to prove it!!!