Through the partnership and the development of its own smart device compatible technology, Avery Dennison strengthens its ability to provide retailers with effective solutions for mobile devices.
Smart devices are infiltrating the retail environment, improving the customer experience with more efficient and productive interactions between shoppers and associates. They are also establishing a better way to keep track of and manage inventory data.
As more retailers continue to arm their employees with smart devices to help customers, it will be important for them to look at how they can get the most out of these implementations. Through the Avery Dennison and VeriFone partnership, retailers can now add price markdown capabilities into their existing smart device systems quickly and easily.
Markdowns are a fact of life in apparel, with 35 percent of unit volume moving at discounted pricing. Effective execution is critical, but most retailers currently rely on an inaccurate, labor-intensive process. Using the traditional “red pen” markdown process, store associates can only complete three garments per minute with 63 percent accuracy.
That means that over a third of items are mismarked, leading to lost sales when a potential customer fails to see the deal the retailer intended to offer. There’s also no way for the merchandising team to monitor the timing and execution of the markdown process, and to work with store operations to address stores that have particular execution challenges.
The Avery Dennison solution includes a robust, turnkey markdown application developed through the new partnership that enables retailers to maximize the use of the smart devices that they are currently investing in for customer service, to improve sales and save labor through a more effective markdown process.
Combined with Avery Dennison’s own smart device compatible Pathfinder 6140 Printer, a one-piece scan, print and apply handheld price marking technology, the Avery Dennison Markdown application ensures markdowns are executed accurately and productively. It also provides retail executives with full dashboard reporting capabilities, creating increased visibility into the process, allowing for continuous improvement.
“The Avery Dennison Markdown application is highly configurable with smart devices, allowing for rapid deployment so that retailers can drive ROI very quickly,” explains Mark Hill, vice president and general manager, global innovation and solutions, Avery Dennison.
“Through our partnership with VeriFone, we are providing our customers with a fully featured price marking solution as well as the ability to easily add additional modules such as mobile POS and clienteling to their smart device application suites.”
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