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Study Reveals how Best-In-Class Small Retailers are Enhancing Customer Satisfaction
Multi-Channel Integration Identified as Key to Satisfying ShoppersSARATOGA SPRINGS, NEW YORK - APRIL 2, 2008 CORESense, the leading software-as-a-service (SaaS) multi-channel retail management system company serving small to medium-sized specialty retailers, today announced the results of the AberdeenGroup’s “Migrating to Customer-Centric Point of Sale” benchmarking report. The study, which included responses from more than 175 small and mid-sized retailers, identified key methodologies and practices leveraged by retailers in upgrading to and deploying next generation customer-centric retail management systems.
According to the report, best-in-class small and mid-sized retailers increasingly utilized multi-channel integration to create a seamless and consistent cross-channel shopping experience. Nearly one-third of retailer respondents cited the ability to access web sites, catalogs and fulfill web-generated orders at POS as critical to their success. The survey also revealed that 70% of retailers consider a multi-channel customer as more valuable and profitable, as they tend to spend more when offered the ability to shop through different channels.
“Consumers today expect retailers to provide access to information on purchases, returns, exchanges, and available inventory regardless of the sales channel involved,” commented Jason Jacobs, CEO for CORESense. “To satisfy customers, a retailer must have a seamless real-time connection between their back office, point of sale, call centers, web store and other online marketplaces such as eBay or Amazon.”
AberdeenGroup’s study also noted that best-in-class retailers are twice as likely as others to have customer-centric technologies that facilitate a consistent approach toward fulfilling customer needs at POS. These capabilities include order management, loyalty program, guided selling, and payment acceptance standpoint. SaaS is the key technical enabler for retailers seeking to integrate POS with multi-channel order management, loyalty, pricing, inventory, and payment capabilities. Multi-channel management solutions delivered via the SaaS model do not require on-premises software installation. Rather than purchasing a software license, retailers typically pay only for actual usage or transactions.
“Aberdeen data has revealed that while 20% of SMB retailers have currently integrated multi-channel service functions at the point of service, 55% in the SMB retail space plan to integrate POS with website access and fulfill web generated orders,” said Sahir Anand, senior retail analyst for AberdeenGroup. “Based on the unique infrastructure and resource needs of SMB retailers, on-demand POS and multi-channel solutions can be more effective from an operational cost and ease of data management standpoint when compared to on-site point solutions. Our analysis of the SMB retail space and current deployments at retail sites shows that CORESense has the ability to address the specific multi-channel and point of service integration needs of SMB retailers.”
The “Migrating to Customer-Centric Point of Sale” report, underwritten by CORESense, was conducted by the AberdeenGroup, a leading independent provider of fact-based research and market intelligence, between December 2007 and January 2008. Three key performance criteria were used to identify these best-in-class retailers:
- More than three quarters have 80% or more customers that meet customer satisfaction goals
- Averaged one and a half minutes POS checkout time for brick-and-mortar stores
- Averaged 19.5% improvement in transaction size compared to previous year
A complimentary copy of the “Migrating to Customer-Centric Point of Sale” can be found at: http://www.aberdeen.com/summary/report/benchmark/4649-RA-customer-centric-pos.asp.
For more insight on the changing nature of POS and multi-channel retail management, join CORESense and AberdeenGroup for a webinar on May 16th. To register for this complimentary event, go to:
CORESense is a market and technology leader in software-as-a-service (SaaS) multi-channel retail management. CORESense solutions are used by small and mid-sized specialty retailers including sporting goods, apparel and accessories, shoe and wine companies. CORESense front- and back-office capabilities unite brick-and-mortar and ecommerce retail management in a single, fully integrated system. CORESense provides multi-channel management, order life-cycle management, inventory and supplier management and customer relationship management, all via the SaaS model. CORESense solutions enable retailers to gain a competitive advantage by increasing sales per customer, delighting customers with great service, and building and maintaining a loyal customer base. CORESense has offices nationally and is headquartered in historic Saratoga Springs, New York. For additional information visit www.CORESense.com or call (866) 229-2804.
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