Press release from: 18 January 2016
Smartrac Presents Metrics, a Comprehensive In-store Analytics Solution
Amsterdam (The Netherlands), January 18, 2016 – At Retail’s Big Show in New York, Smartrac is showcasing its all-new in-store analytics solution, Metrics. Based on Smart Cosmos (the company’s Internet of Things platform) and its RAIN RFID inlays and tags, Metrics delivers significant sales lift and gross margin increase.
Metrics empowers retailers and brand owners with end-to-end supply-chain visibility and real-time analytics that provide comprehensive reports to optimize store and shelf availability of merchandise, increasing customer satisfaction. In addition, the deployment of Metrics in stores leads to significant sales lift, labor savings and strong improvement in gross margin.
The Metrics solution utilizes real-time location data provided by Smartrac’s RAIN RFID inlays in the price tags and gathered via network connected location sensors to increase sales and thus improve gross margin in three different ways. First of all, stock-outs are drastically reduced. Second, by providing automated replenishment actions, the effectiveness of the sales force is enhanced providing more time for serving customers. Last but not least, sales at regular prices are increased by optimization of in-store placement through consideration and conversion analytics.
Cross Organizational Benefits
Significantly, Metrics also provides store operations with insight into in-store product consideration and conversion, empowering merchandisers to optimize product placement, and giving merchandizers unprecedented visibility into shopper engagement. By clearly understanding consideration versus conversion at the item level, smarter decisions can be made. In addition, the hands-free system gives 100% inventory visibility, helping to increase sales and decrease shrinkage, whereas fashion designers get faster and more precise feedback on the performance of their designs and patterns.
E-commerce benefits for brick & mortar
“To differentiate from e-commerce and any possible delayed fulfillment, brick & mortar stores need to provide customers with immediate product availability. By utilizing Metrics, retailers and brand owners can now maintain the highest level of inventory visibility needed to meet shopper’s demands, and lift their sales and improve their gross margin at the same time,” says Leonard Nelson, Director Retail Solutions, Intelligent Things Business Division at Smartrac.
Smartrac is presenting its innovative products and solutions at NRF Retail’s Big Show 2016 in New York, January 17-19, 2016, booth # 1413.
Smartrac is the world’s leading developer, manufacturer and supplier of RFID products and services, providing both ready-made and customized products and services suitable for a large number of applications. Smartrac makes products smart, and enables businesses to identify, authenticate, track and complement product offerings. The company’s portfolio is used in a wide array of applications: access control, animal identification, automated fare collection, automotive, border control, contactless payment, electronic product identification, industry, libraries and media management, laundry, logistics, retail, public transport, and many more. Leveraging its global R&D, production and sales network, Smartrac combines physical products with its Internet of Things platform Smart Cosmos, empowering the ecosystem of connected things. Smartrac has its registered headquarters in Amsterdam, the Netherlands. For more information, visit www.smartrac-group.com, www.smart-cosmos.com and follow us on Twitter: www.twitter.com/SMARTRAC_NV.
Smartrac Technology Group
Head of Corporate Communications & Marketing
Phone: +31 203 050 150