Industry News - October 31st, 2008
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RETAIL AND TECHNOLOGY NEWS |
CVS Caremark Completes Acquisition of Longs Drug Stores
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CVS Caremark Corporation announces that it has completed its acquisition of Longs Drug Stores Corporation.
The acquisition provides CVS Caremark with Longs' 521 retail drugstores
in California, Hawaii, Nevada and Arizona as well as its Rx America
subsidiary. The subsidiary offers pharmacy benefits management (PBM)
services to more than 8 million members and prescription drug plan
benefits to approximately 450,000 Medicare beneficiaries.
"We look forward to working with our new Longs colleagues and to
serving the millions of loyal customers who shop Longs stores," says
Tom Ryan, chairman, president and CEO of CVS Caremark. "With the
closing now behind us, we are focused on realizing the many benefits of
this combination, which accelerates our expansion into key growth
markets and strengthens our position as the nation's leading pharmacy
services company."
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Toys "R" Us Launches Enhanced E-Commerce Site |
Toys"R"Us launches an enhanced version of www.Toysrus.com with new
features and functionality including easy-to-use navigation and new
applications such as 'gift finder,' 'online wish list' and 'want it
today?' The new site also includes upgrades to current online tools,
such as the online Baby Registry at www.Babiesrus.com.
As part of the site re-launch, the site has been updated with three new
applications that are displayed prominently throughout the navigation
process. These tools are designed to help customers select the right
gifts with ease or quickly locate a store in their area that has stock
of the in-demand toy or baby product they are seeking.
- Gift Finder - Online shoppers can filter gift
options by answering a series of questions related to the age,
interests and personality traits of the gift recipient. Shoppers
receive a tailored list of gift ideas specific to the child they have
in mind. And, when shopping for babies ages 12 months and younger, the
site allows customers to choose gifts based on building desired skills,
such as coordination and motor, creative play or nurturing.
- Online Wish List - Whether for holidays,
birthdays or special occasions, the Toys"R"Us online Wish List lets
parents and caregivers browse products with their kids to create and
update a running list online of their most desired presents. Kids can
generate as many Wish Lists as they'd like, tailoring them for specific
occasions. To ensure they get the gifts they crave, kids can share
their Wish Lists with family and friends via e-mail. Gift-givers can
also print Wish Lists in-store at Guest Service stations.
- Want It Today? - By accessing the "Want It
Today?" feature, online shoppers have the ability to check in-store
availability of toys and juvenile merchandise from the website by
entering their zip code into the "Want It Today?" box. The online
system can check for inventory of preferred products at the five stores
closest to the customer. Currently, the
"Want It Today?" feature is only available on select items in certain
markets throughout the U.S. but will be expanded to other areas and
items over time.
"At Toys"R"Us, we know our customers look to us for our expertise in
the toy and baby product categories, and an increasing number of people
are using our online store not only to make purchases but to conduct
research on products and services available in our stores," says
Michael Scharff, vice president, general manager, e-commerce,
Toys"R"Us, U.S. "By simplifying and enhancing the look of our
e-commerce site and adding helpful tools, it's easier than ever for
online customers to select and purchase the perfect gifts for their
loved ones, quickly locate in-store availability of a desired product,
and determine what items they need to prepare for the arrival of a new
baby. These advancements pro
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The Shoe Company Adds Store Ops-Center |
The Shoe Company fully deploys Store Ops-Center store operations
software from Opterus at all 65 store locations. The shoe retailer uses
Store Ops-Center to automate communications, messaging and operational
compliance. Implementation for the entire chain was completed with less
than a week's worth of effort.
For years, The Shoe Company attempted to communicate with store-level
employees via internal e-mail and paper-based methods. The Shoe Company
found that the majority of stores would ignore the emails, read the
e-mails but not complete the tasks, or read the e-mails and complete
tasks incorrectly. Store Ops-Center now provides The Shoe Company with
an 'eye-in-the-sky' view of store operations, and replaces the
retailer's manual communications methods through an on-demand retail
portal that helps ensure message delivery and verification of
operational compliance issues.
"Most retail software projects are very demanding on internal resources
and take time to implement," says Lewis Feinstein, vice president of
operations, The Shoe Company. "It took only days to plan and go live
with Store Ops-Center and our employees love using it because it's
easy, and it works well while greatly streamlining our store
operations."
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Social Commerce Delivered Through Escalate and PowerReviews Partnership |
Escalate Retail announces its partnership with PowerReviews, a provider
of customer reviews and social merchandising solutions. The partnership
will enable integration between Escalate's Blue Martini e-commerce
Suite and PowerReviews' tool for customer reviews.
Escalate provides merchandising, advanced search, embedded analytics,
personalized content and scalability. PowerReviews allows retailers to
create multi-dimensional tags based on the pros, cons, and best uses of
a particular product.
Through the partnership with PowerReviews, Escalate customers will have
the option to implement innovative customer review technology on their
Web sites . Many online retailers use the review data collected to fuel
targeted email marketing campaigns and add product review snippets to
their category pages. Multi-channel retailers also can add the review
snippet next to products in their catalogs and create in-store
displays.
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Best Buy Leverages Retail Traffic Analytics Tool
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Best Buy analyzes and optimizes customer experiences associated with
product placement and promotions by using the Nextiva Retail Traffic
Analytics Tool by Verint Systems. Best Buy deploys Verint's retail
traffic product on a 45 camera platform in one of its 45,000 square
foot retail stores. Designed to leverage existing video surveillance
applications, Nextiva Retail Traffic Analysis provides real-time
information regarding customer count, traffic patterns, dwell-times and
information regarding customers' in-store shopping behaviors. Best Buy
already monitors 60 percent of its retail stores with Verint equipment.
"We are already impressed with the value Nextiva Retail Traffic
Analysis has shown for Best Buy in the areas of product placement, and
the effectiveness of displays and promotional positioning," says Tim
Fisher, director of loss prevention and safety, Best Buy. "Within hours
of the installation, store management was working actively with the
solution and modifying product placement based on the information.
Store operations found the user interface to be intuitive and easy to
use, and we are very encouraged about the possibilities the solution
can deliver."
Best Buy uses Nextiva Retail Traffic Analysis to understand shopper
behaviors and trends by providing insight into in-store promotions and
advertising campaigns, identifying traffic flow patterns and measuring
dwell-time, and helping to ensure proper product placement on shelves
and aisles. By using a video analytics tool, Best Buy can extract and
search customer behaviors through a video management application. In
addition, the analysis can be used along with point-of-purchase data to
further understand buying patterns. Wth this type of information, Best
Buy can determine the success rate of promotions and optimize store
layout and design to help improve the customer experience and maximize
sales.
Giant Eagle Adds Deal Management Software
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Giant Eagle selects DemandTec's Deal Management software service and
has extended its agreement to manage pricing with software services
from DemandTec. The food retailer first deployed DemandTec's Everyday
Price Optimization software service to help manage everyday retail
pricing in 2005.
Prior to deploying DemandTec's pricing solution, price management at
Giant Eagle was a manual operation, using libraries of spreadsheets,
that required significant resources and provided little optimization.
The retailer uses DemandTec technology to more quickly respond to
competitive changes in the market, help ensure accurate prices across
thousands of items and multiple markets, and streamline pricing
business processes.
"DemandTec has helped us to plan and execute a pricing strategy that
provides consistent everyday value to our customers and at the same
time allows us to meet our objectives for company performance," says
Stephanie White, vice president of sales systems and operations at
Giant Eagle. "We have enjoyed our partnership with DemandTec and are
looking forward to working together to further advance our pricing and
promotions management".
DemandTec's Deal Management software service will replace Giant Eagle's
manual process that has consumed significant resources, resulted in
inaccurate deal submissions, and required the archival of paper deal
sheets for seven years.
"The process for negotiating, submitting and executing deals has been
very labor intensive, requiring a significant amount of non-value added
work, and has also lacked built-in quality controls, leading to errors
and omissions, time delays and team member frustration," says White.
"With DemandTec, these problems are greatly reduced, so we expect our
team to be more productive and better able to concentrate on delivering
the best available programs to our shoppers."
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