Avery Dennison and VeriFone Create Breakthrough Smart Device-Enabled In-Store Price Marking Solution
Avery Dennison Partners with Global Market Leader to Maximize the Value of Existing Smart Devices to Further Advance the Rapid Expansion of Smart Device Use at Retail
FRAMINGHAM, Mass.--(BUSINESS WIRE)-- Avery Dennison Retail Branding and Information Solutions (RBIS) division, a global leader in apparel and footwear industry solutions, is pleased to announce it has partnered with VeriFone, the leading provider of next-generation mobile retail software, to equip retailers with the GlobalBay Retailing solution, which provides the most productive and accurate markdown solution to date. 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. 1 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.”
“Our technology is deployed on mobile devices and already works seamlessly for many retailers,” said Sandeep Bhaonte, Vice President and General Manager of VeriFone’s GlobalBay solution. “Through this partnership with Avery Dennison, our customers will now have the ability to leverage their current mobile device investment to integrate price markdown capabilities instantly into their smart device technology. This powerful integration allows retailers to streamline their operations process and free associates to spend more time selling.”
The complete Avery Dennison Markdown solution consists of the application, the Pathfinder 6140, markdown labels from Avery Dennison, as well as integration and support from both Avery Dennison and VeriFone. With this complete solution, retailers receive all the benefits of the industry-leading markdown technology, and can be up and running in a matter of weeks with little IT involvement required. The Markdown solution has been certified under the Apple MFi program as “made for iPhone®, iPad® and iPhone®” and is also compatible with Android and Windows CE/Mobile operating systems.
About VeriFone Systems, Inc.
VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY ) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.
About Avery Dennison RBIS
Avery Dennison RBIS, a global leader in apparel and footwear industry solutions, is a $1.5 billion division of Avery Dennison (NYSE: AVY ) . Avery Dennison RBIS provides intelligent, creative and sustainable solutions to elevate brands and accelerate performance from design to retail store floor. The company’s industry leading, end-to-end solutions include innovative heat transfer technology, RFID and price management supply chain solutions and sustainable packaging services. Based in Framingham, Massachusetts, Avery Dennison RBIS employs 20,000 in 50 countries. For more information, visit www.rbis.averydennison.com.
Avery Dennison helps make brands more inspiring and the world more intelligent. The company is a global leader in pressure-sensitive technology and materials and retail branding and information solutions. A Fortune 500 company with sales of $6 billion from continuing operations in 2011, Avery Dennison is based in Pasadena, California with employees in more than 60 countries. For more information, visit www.averydennison.com.
1 Internal study using 500 scanned garments
Samantha Porter, 617-624-3226
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