Today at NRF 2022: Retail’s Big Show, Retail Pro International is leading the conversation on strategies to streamline omnichannel store experiences with the Retail Pro Prism POS and retail management platform and addresses retailers’ heightened need for stock accuracy with RFID for Retail Pro, since flexible store fulfillment options for online orders add significant complexity to inventory management.
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Streamlining Omnichannel Operations with Retail Pro Prism
Specialty retailers adapted their operations throughout the duration of COVID phases by launching hybrid omnichannel options to keep connected with their customers and offer flexibility in fulfilling customer needs. For many, these operations were built on legacy or unintegrated systems. Consequently, retailers are faced with addressing data disparities, inefficiencies, and bottlenecks as they plan their technology strategy through COVID’s prolonged impact. Retail’s Big Show plays a central role in connecting retailers to the best technologies to address these needs.
“Specialty retailers have shown so much tenacity and ingenuity in their response to the pandemic in these past two years — we at Retail Pro International felt compelled to show our support and commitment to the global contingent of retailers who are making the trek to Retail’s Big Show to seek out insight and technology solutions that will help them further their omnichannel strategies in 2022 for better customer experiences. We are grateful for the abundance of caution the NRF team has shown in the required health and safety protocols to allow for retailers and technology providers to converge for the kind of conversations that happen most effectively in person,” said Retail Pro International CEO, Kerry Lemos.
“Retail Pro Prism is the advanced Point of Sale and Retail Management platform technology which is the foundation on which retailers are building and streamlining their omnichannel operations. Our A-team of technology experts is on-site to start the conversation about retailers’ retail management needs this year, including data integration, visibility, and accuracy as a base for efficient fulfillment and profitable omnichannel operations,” said Lemos.
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With new and significant advances in the Retail Pro Prism technology in the past year, the technology developer is helping retailers craft seamless omnichannel retail experiences with data insights and efficient operations built on Retail Pro Prism POS and retail management software.
Retail Pro Prism empowers retailers to:
- Take control of omnichannel store operations with flexible Retail Pro Prism POS and retail management software
- Unify all data sources with Retail Pro Prism’s accessible API for a complete picture of shoppers’ journeys, activity, and preferences
- Streamline operations needed to support the omnichannel retail environment for more efficient omnichannel operations
- Act on customer insights from their activity with a retailer at every touch point to deliver consistent, relevant omnichannel experiences
“The upgrade to Retail Pro Prism has proved to be a smart move as TMG is now able to manage inventory centrally and smoothly integrate to our diverse selling channels, such as our website, Facebook page, and e-commerce platforms like SHOPEE, VNSHOP, SENDO, etc. Orders from all of these channels are centralized in Retail Pro Prism and coordinated to the nearest store for the quickest possible fulfillment,” shares TMG’s IT Manager, Mr. Le Hoang Viet.
RFID to Solve Stock Inaccuracy for Omnichannel Operations
With BOPIS, ship-from-store and other store fulfillment options now playing a larger role in omnichannel operations, the need for accurate inventory visibility across the organization is especially relevant for retailers, and stock inaccuracy leads to poor experiences that damage customer trust.
Complete, secure visibility into inventory and customer information is a hallmark of Retail Pro Prism; the addition of affordable, integrated RFID for Retail Pro helps retailers increase stock accuracy to 98%+ to better support online sales and pickup in store.
With RFID for Retail Pro, retailers can benefit by:
- Saving hundreds of hours and thousands of dollars per year, per store in Physical Inventory and Receiving labor
- Cutting retail losses from shrink by an average of 25% when using RFID to identify theft earlier
- Increasing sales with better on-shelf availability and improved re-ordering
- Improving shopper satisfaction by helping them find what they want based on accurate stock levels
“Retailers face real and costly problems due to inventory inaccuracy and it’s getting worse as retailers attempt to use store inventory to fulfill online orders for pickup or shipments. Being able to reconcile what has just been purchased online with in-store inventory – and meeting the expectations of both types of customers is a gargantuan task. Shoppers should never see an item in stock online and discover it is sold out once they reach the store,” commented Retail Pro International’s VP of Product, Kevin Connor. “The addition of RFID for Retail Pro gives retailers access to game-changing technology that can pave the way for profitable omnichannel operations.”
The Retail Pro Prism solution is being exhibited at NRF 2022, January 16 – 18 in the Retail Pro booth #6210.