Retail Technology News: April 16-22, 2014

How to achieve omnichannel excellence, why teens still prefer to shop offline, what retail sales say about economic growth, and more—welcome to this week’s edition of Retail Technology News, a weekly wrap-up from Quantum Retail of some of the top stories in the retail industry. Here’s what was news last week:

Retail technology news April 22 2014Winning the race for omnichannel excellence (RetailingToday)

What’s most noteworthy about omnichannel isn’t how quickly its become part of mainstream conversation in retail so quickly, but how fast it’s become standard operating procedure. This has left many retailers trying to understand the impacts of omnichannel. Here’s how to optimize inventory allocation across channels.

U.S. Teens Still Prefer Shopping Offline, Study Says (Mashable)

Global ecommerce sales are expected to hit $1.5 trillion this year, up 20% from 2013. But a new study shows one surprising demographic is still devoted to shopping in brick-and-mortar stores: teenagers.

Bullish U.S. retail sales brighten growth outlook (Reuters)

Retail sales increased 1.1 percent last month, the biggest gain since September 2012, with receipts rising in nearly all categories. Combined with news about corporate profits, job growth, and the dollar, these bullish signals have bolstered hopes that growth this year will be the fastest since the 2007-09 recession ended.

The future of retail in 5 charts (Digiday)

While e-commerce revenue remains a small fraction of physical sales, online shopping is growing at a faster pace. An interesting trend within e-commerce’s growth curve has been the rise of “m-commerce”—using mobile devices (smartphones and tablets) to buy goods online—in recent years.

Study: Millennials show brand loyalty (Chain Store Age)

64% of Millennials are more brand-loyal or as brand-loyal as their parents. However, 77% of the Millennials surveyed said they are evaluating brands on a different set of criteria than their parents. Here’s what drives their brand choices.

Further Reading:

Effectively managing the evolving retail eco-system  [white paper]

Here are strategies retails can use to better understand their customers and deliver the right products to the right channel at the right time and at the right price.

Quantum Retail Featured in RetailingToday

Scott Aubitz provides insights about omnichannel retail on RetailingTodayWinning the race for omnichannel excellence

April 18, 2014

In the last 12 months the buzz around omnichannel has become the most consistently discussed trend for major retailers. It’s always noteworthy when a trend emerges and becomes a part of the mainstream conversation so quickly, but what is even more noteworthy is how fast omnichannel has become standard operating procedure.

 

This has left many retailers simultaneously trying to understand the impacts of omnichannel on their business, while trying to successfully merge their retail and e-commerce business into…

 

Read the full article here.

Retail Technology News: April 9-16, 2014

Welcome to this week’s edition of Retail Technology News, a weekly wrap-up from Quantum Retail of some of the top stories in the retail industry. Here’s what was news last week:

Retail Technology News, April 2014Total US Retail Sales Top $4.5 Trillion in 2013,
Outpace GDP Growth
(eMarketer)

Total retail sales in the US topped $4.53 trillion in 2013, and ecommerce accounted for a significant portion of that growth, up 16.9% in 2013—or nearly $40 billion. Retail growth is a reflection of what’s happening in the broader economy, which is gaining momentum.

What every man should know about fashion in 2014 (The Guardian)

What does “smart casual” actually mean? How much should one spend on a suit? And is it ever OK to wear a fleece? Alex Bilmes, editor of Esquire magazine, answers 2014′s most pressing style conundrums.

Reshoring and Revitalizing the American Supply Chain Network (Food Manufacturing)

When companies source in the U.S., they can take advantage of the world’s largest market and leaner supply chains since production is located closer to consumers. This affords them the flexibility to quickly respond to customers’ changing demands.

NRF: Easter spending (just) slightly down in 2014 (Chain Store Age)

The average American is expected to spend just slightly less to celebrate Easter this year than last. In addition to purchases for holiday meals, about 43% of consumers plan to shop for spring clothing; total spending on apparel is expected to reach $2.6 billion.

Further Reading:

Off the shelf: Smart retail strategies for competitive grocers [white paper]

As grocers seek new business tactics, they will find that two of the most profitable strategies for success lie in the balance of real-time demand forecasting and localized inventory.

Retail Technology News: April 3-9, 2014

Retail Technology NewsWelcome to the first installment of Retail Technology News, a weekly wrap-up of some of the top stories in the retail industry. Here’s what was news last week:

Frequent shoppers aren’t necessarily loyal (RetailWire)

A frequent customer is not always a loyal one. That a conclusion of a new study from Cardlytics based on a “whole-wallet” analysis of transaction records held by banks for nearly 70 percent of U.S. households. But that doesn’t mean frequent customers aren’t valuable.

A Growing Number of E-Commerce Sites Are Moving Into Print (AdWeek)

Print catalogs, really? Those relics of the 20th century? Read on to find out why while countless publishers are struggling to drive dollars via online shopping, there’s a growing number of e-commerce companies moving in the opposite direction.

Industry Crib Sheet: Consumer Spending Buoys Q4 GDP (Industry Market Trends)

Consumer spending increased 3.3 percent in the fourth quarter, but much of household take-home pay appears to have gone to utilities amid cold winter temperatures, rather than to retail stores. However, with the snow rapidly disappearing and winter behind us, Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ, expects a spring rebound in retail spending to boost second-quarter GDP.

What if Millennials Are … Sort of Like Everyone Else? (AdWeek)

Brands are awfully excited about twentysomething consumers right now, and understandably so. Millennial consumers (aka Gen Y) are now a quarter of the U.S. population and wield somewhere between $200 billion and $1.3 trillion in spending power. But while this age cohort does have some distinct characteristics, recent research suggests they are similar to previous generations in several important respects.

Further Reading:

Making Omnichannel Inventory Optimization Profitable [report]

Retailers don’t want to disappoint shoppers by being out of stock or limiting their purchase options, but they also don’t want to increase inventory levels or costs per sale. Find out in this RIS Roadmap how to balance customer benefits and profits through omnichannel inventory optimization.

Quantum Retail Featured on TECHdotMN

Growing Minneapolis software firm Quantum Retail names new CFO

March 31, 2014

Quantum Retail Technology today announced that Kevin Davidson has joined the company as its Chief Financial Officer.  Davidson brings…

Read the full article here.

Quantum Retail names Kevin Davidson Chief Financial Officer

Minneapolis, Minnesota – March 31, 2014 – Quantum Retail Technology™ Inc., the industry’s premier innovator of consumer driven merchandise solutions for retailers today announced that Kevin Davidson has joined  the company as its Chief Financial Officer. Davidson brings over twenty years of financial management and corporate development experience to Quantum and will report to CEO Steve Buege.

“Kevin’s track record as a CFO for several high growth companies combined with his hands on business experience made him an ideal candidate to step into this important role as we plan for Quantum’s next stage of growth,” said Steve Buege, CEO of Quantum Retail. “We were excited to find a seasoned professional who has experience in helping to scale fast-growing companies such as ours.”

“Quantum has a great reputation of being highly successful based on its track record of innovation and meaningful support for its clients,” added Kevin Davidson, CFO for Quantum Retail. “Quantum’s performance to date has been impressive. Their ability to quietly amass a client list that includes a number of tier-one retailers speaks to the significant value the Quantum product suite delivers to its customers.”

Davidson joins Quantum after serving as CEO of Critical Perfusion from 2012 to 2014. Previously he held C-level positions with BioDrain Medical Inc., OrthoRehab Inc., and was a Managing Director at Arthur Andersen LLP.

About Q
As consumer demand has becomes less predictable and as buying patterns and channels become more complicated many of the world’s most successful retailers utilize Q to provide answers to meeting their toughest marketplace challenges and better meeting their overall business objectives. Q combines deep retail and merchandising intelligence with a dynamic technology engine that adapts to a retailer’s needs and makes changes based on their requirements and how their customers are behaving. The Q system continuously learns and dynamically analyzes and responds to changes in demand for every product and store location to maximize value for retailers of all types. The Q system is adaptable within the retailer’s existing environment and works in conjunction with many of today’s supply chain and merchandising platforms including Oracle, SAP, and JDA.

About Quantum Retail Technology, Inc.
Quantum offers the retail industry’s premier solutions for understanding product demand based on consumer behavior and turning that understanding into actionable results.  Quantum Retail’s  Allocation, Replenishment and Order Planning solutions increase profitability by helping merchant’s to be more responsive and by supporting their Multichannel and International objectives easily and accurately.  Many of the world’s top retailers are already Quantum clients. Quantum is privately held and is headquartered in Minneapolis, Minnesota. For more information on Quantum Retail Technology, please visit our website at http://www.quantumretail.com.

Quantum Retail and Q are registered trademarks of Quantum Retail Technology, Inc. All other trademarks are owned by their respective companies.

Quantum Retail Presents Enhanced Customer Driven Q Merchandise Optimization Solutions at RetailConnections Summit

RetailConnections Summit, Miami, Florida and Minneapolis, Minnesota – March 4, 2014 – Quantum Retail Technology™ Inc., the industry’s premier innovator of retail-focused merchandise software solutions today presented its Q Merchandise Optimization Solutions at the RetailConnections 2014 Business Executive Summit. Quantum will be showcasing enhanced versions of its Allocation and Replenishment Solution throughout the event which is taking place at the Trump International Beach Resort in Miami, Florida.

“Quantum Retail solutions are the gold standard for retailers that want a way to predict their product demand and then leverage that understanding  to make more profitable decisions,” said Scott Aubitz, CMO and Vice President of Product Strategy for Quantum Retail. “Top tier retailers recognize the potential of combining consumer demand with targeted action to be transformational for their business. RetailConnections represents an ideal opportunity for the Quantum team to talk with retailers about their challenges and how we are uniquely able to help solve them.”

“The Quantum product suite delivers both a comprehensive and granular prediction of the retailer’s product demand allowing them to maximize their inventory investment by store and across the entire estate,” added Bill Mahoney, Product Manager for the Q Product Suite. “The result is an increase in full price sales and an accurate prediction of demand, which has become critical in today’s Omnichannel environments.”

Quantum’s solutions are unique in their ability to deliver the highest value from a retailer’s inventory on a daily basis leading to higher profitability and faster responsiveness for merchants operating in increasingly complex environments.

About Q

As consumer demand has becomes less predictable and as buying patterns and channels become more complicated many of the world’s most successful retailers utilize Q to provide answers to meeting their toughest marketplace challenges and better meeting their overall business objectives. Q combines deep retail and merchandising intelligence with a dynamic technology engine that adapts to a retailer’s needs and makes changes based on their requirements and how their customers are behaving. The Q system continuously learns and dynamically analyzes and responds to changes in demand for every product and store location to maximize value for retailers of all types. The Q system is adaptable within the retailer’s existing environment and works in conjunction with many of today’s supply chain and merchandising platforms including Oracle, SAP, and JDA.

About Quantum Retail Technology, Inc.

Quantum offers the retail industry’s premier solutions for understanding product demand based on consumer behavior and turning that understanding into actionable results.  Quantum Retail’s  Allocation, Replenishment and Order Planning solutions increase profitability by helping merchant’s to be more responsive and by supporting their Multichannel and International objectives easily and accurately.  Many of the world’s top retailers are already Quantum clients. Quantum is privately held and is headquartered in Minneapolis, Minnesota. For more information on Quantum Retail Technology, please visit our website at http://www.quantumretail.com.

Quantum Retail and Q are registered trademarks of Quantum Retail Technology, Inc. All other trademarks are owned by their respective companies.

Quantum Retail Featured in Retailing Today

Quantum takes leap with retail science

February 8, 2014 | By Mike Troy

Demand forecasting, inventory allocation and replenishment – the unsung building blocks of every successful retail enterprise – have gained a new level of respect with retailers striving to deliver the omnichannel experience shoppers demand.

Read the full article here.

NRF 14 in Pictures: Another Great Year at Retail’s BIG Show

Our Quantum Retail team is back in the office, after another successful and rewarding experience at Retail’s BIG Show in New York last week.

Traffic at the Quantum Retail booth - #NRF14

 

More than 30,000 attendees had the opportunity to be inspired by the creative and different initiatives of other retailers, as well as learning about the latest developments in retail technology from vendors.

In front of the Quantum Retail booth at #NRF14

 

As Nation Retail Federation (NRF) board chairman Stephen I. Sadove said in his address, “It’s no secret that 2013 was a challenging year for (the retail) industry. But if the energy here at retail’s big show is any indication, things are starting to turn around.” Indeed, a current of optimism about the year ahead seemed to flow through the entire event.

Demonstrating our newest merchandise optimization solutions

 

To all of those we met at the show, thank you! It was great to connect. For those who missed us, or weren’t able to attend the show—visit our contact page to reach us any time.

Side view of the Quantum Retail booth at #NRF14

 

We’re already making plans for next year’s event, January 11-14, 2015, once again at the Jacob K. Javits Convention Center in New York city. Hope to see you there!

See you next year at #NRF15!

 

Quantum Retail at #NRF14, Retail’s Big Show – Day 2

Quantum Retail is at NRF. Day two is about to begin. Come see us in booth 3655!

Quantum Retail at #NRF14, Retail's BIG Show