Detailed analysis by retail tech specialists at Detego has confirmed that the average retailer’s data is only about seventy-five percent accurate when it comes to knowing exactly what inventory is actually in stock at any particular time. The problem is often compounded by retailers continually managing stock across multiple channels and increasingly having to stay on top of consumer demands for up-to-the-minute, reliable information. Detego, which has been monitoring its own chatbot service that allows consumers to engage with retailers via their smartphones, found the most common enquiries to be about stock availability. It found data inaccuracies around inventory to be most of an issue in fashion retail where ever shorter product lifecycles, fast turnarounds of stock and multiple style, size and colour combinations can play havoc with the supply chain and in-store operations.
“Customers, above all, want instant and accurate information on product availability,” says Dr. Michael Goller, CTO at Detego. “If you’re shopping for clothes, you want to be sure of getting the exact size and style you’re looking for. But many retailers fall by the wayside here – their systems might tell them that a particular size is available; yet, there’s a one in four chance that this isn’t the case.”
According to Goller, continually relying on manual processes for something as vital to the retail business as stock – usually by shutting up shop once or twice a year for store or warehouse staff to do a stock-take – is madness. And especially given that smart technologies abound, including RFID and mobile devices which ensure continual monitoring and lead to near hundred percent accuracy and operational excellence in the stores.
Research by the University of Parma in Italy has shown consistent sales increases in RFID-managed apparel stores and deduced that “RFID item-level tagging is a powerful tool for improving inventory accuracy, which is a prerequisite for both omni-channel strategies and store floor replenishment from the backroom.”1
Thanks to technology that helps increase the availability of products on the shopfloor – such as using wearable devices that rely on alerts and images to guide staff and speed up the replacement of missing articles and gaps on the shelves – the industry is starting to see a gradual shift towards more connected technologies in retail. IDC Retail Insights predicts that eighty percent of retailers are due to spend on visibility platforms powered by RFID and IoT2 over the next few years.
Detego, market leader in real-time business intelligence for the fashion retail industry, showcases its innovative retail products at Whitebox – a digital experience space for various innovative in-store applications – in Future City Langenfeld. Retailers are introduced to new in-store technologies, test them and exchange their experiences with retail experts. With its innovative and beneficial in-store products, Detego perfectly fits into the concept of the Whitebox where the Detego InStore Lean Edition as well as the Chatbot Detega are showcased.
The Detego InStore Lean Edition meets the demand of the fashion retail industry for a quick-start solution into the digital store. With brick-and-mortar retail being under increasing pressure, innovative technologies play a significant role in regaining its former strength: Customer service that makes the difference – based on extremely high on-shelf availability and data accuracy in terms of inventory. This is possible through fast and accurate stocktakes and automated replenishment processes, bringing long-term benefits to fashion retailers and most importantly, delivers quick results. At Whitebox, fashion retailers have the opportunity to assess the Detego InStore Lean Edition, which is already successfully in use in over a thousand fashion stores.
In addition, visitors can find out more about the Chatbot Detega, the consumer engagement tool that helps increase sales. On request, Detega starts a dialogue on the customers’ smartphone immediately after entering the store, thus elegantly bridging possible waiting times. Consumers are already used to these services thanks to online shopping. The virtual sales assistant gives product recommendations, triggers cross-selling potential and increases retention time in the store. These are all features retailers will need in the future to make sure to keep their customers.
Frank Rehme, initiator of the Whitebox, Future City Langenfeld, wants to present visitors with a selection of innovative in-store systems and to give, in particular smaller retailers, the chance to digitalise their stores easily: “We are delighted to have Detego as a partner as their solutions bring much needed value to retailers quickly without much implementation time. Next to a clear vision for the future of retail, practical as well as result-oriented application of digital technologies are very important to us.”
More information: http://futurecitylangenfeld.de/whitebox/
Detego, a market leader in real-time business intelligence for the fashion retail industry, is releasing its latest whitepaper, providing valuable information on the use of Internet of Things (IoT) in fashion stores. Titled as “The perfect customer relationship – How fashion stores leverage Internet of Things (IoT) technologies to put the customer in focus of all activities “, fashion retailers get a practice-oriented guide that highlights the most important aspects such as: Why should fashion retailers deal with IoT?, What problems could be solved in the stores?, What results can be expected? Retail decision makers need to deal with IoT if increased article availability, exact inventories, interaction with customers and operational excellence in the stores are set as objectives. The 35-page guide sheds light on the triangle of “customer”, “processes in the store” and “deployment of new technologies” and shows how the use of IoT benefits retailers and ultimately the customer. The whitepaper is available for download on the Detego website.
Detego discusses the various IoT technologies as a way for retailers to realize the perfect customer relationship. Based on customer’s needs, the practical tips are divided into 1. Self-service in the store: The customer as the main actor, 2. Brand Ambassador: The customer as influencer, 3. Co-Value Creation: The customer as partner and 4. Predictive Analytics: The Customer as creator of the future. All four subchapters describe what retailers can do to connect with the customer and enable an interaction in the store.
In addition, infrastructural prerequisites such as the optimal process support through IoT technology and in particular support for the sales personnel are discussed. With the help of IoT, retailers and their store personnel gain valuable data that is translated into recommendations for concrete action to take. In addition to the operational excellence in the store, it is primarily about the new shopping experience for the customer. The whitepaper reveals the formula for the perfect customer relationship, based on the right technologies and processes and shows how retailers can apply them to their business.
Detego, a market leader in real-time business intelligence for the fashion retail industry, will showcase three of its software solutions at EuroCIS, taking place from February 27th to March 1st 2018 in Düsseldorf, Germany. Visitors to Europe’s leading trade fair for retail technology can experience the Detego Smart Fitting Room, the Chatbot Detega and the Detego InStore Lean Edition as live-demos in hall 9 on booth #C03.
The mobile Detego InStore Lean Edition, a quick-start solution for the digital store, allows fashion retailers to quickly adopt a “smart” replenishment process and carry out “intelligent” stocktakes, by starting small and scaling across the entire store network. Offered as a SaaS (Software-as-a-Service) model with cloud hosting, retailers benefit from high inventory accuracy and consistent article availability at low cost. Detego addresses retail chains, franchisees, as well as brand store owners. A clear path of scaling ensures a rapid deployment and an easy functional extension to the Detego InStore Full Edition.
The fitting room is the most important place in the entire store when it comes to purchase decisions being made. This means that it’s crucial to provide support and additional services for customers. These might include product recommendations, such as matching items available on the sales floor that can be brought directly to the fitting room by sales staff via a “call-to-assist” button. The customer can look up other products, check for availability, reserve articles or have them delivered directly from the store to their home. Links to videos or social media feeds can also help.
In the field of Artificial Intelligence (AI), Detego brings digital support to the store with its Chatbot “Detega©”. The virtual personal assistant accompanies customers throughout their entire shopping experience and provides additional support in the vital decision-making process, such as making product recommendations and earmarking other popular items, bestsellers, discounted articles or product variants.
The AI capabilities are not just limited to the chatbot itself, but also work continually in the background by communicating with other systems in the store. The chatbot checks the actual availability of articles and compiles data about customer types and their preferred article combinations and choices. As a result, recommendations become more meaningful and personal and only articles immediately available in the store are recommended. This makes the chatbot a reliable sales assistant and tool that customers will use again due to a positive shopping experience. The chatbot can even continue to interact with the consumer after leaving the store and inform them about new offers, or reserve articles in a preferred store.
“We want to introduce fashion retailers to solutions that support them in their daily challenges,” says Dr. Michael Goller, CTO at Detego. “We can show how fashion retailers can positively influence buying decisions and how a chatbot helps in the sales process, as well as witness how several global fashion brands have successfully adopted the Detego InStore Lean Edition.”
Retail software vendor, Detego, will be showcasing its latest digital in-store solutions for retailers at NRF, the world’s largest retail industry show on January 14-16 in New York, as a co-exhibitor on SAP´s booth # 2733. These include a new mobile solution for retailers, offering faster and cheaper access to the benefits of digital connectivity, as well as Detega, a new chatbot that supports customers throughout their entire shopping experience.
Detego’s software, in combination with tiny radio-frequency identity (RFID) tags on every item, makes it easier for retailers to boost inventory accuracy and on-shelf availability to levels consistently above 98 percent – a huge increment compared to the industry average of 75 percent. While Detego’s chatbot opens up the entire store chain and digital catalogue to consumers.
Detego says that it has decided to release a leaner version of its full product suite so that retailers can quickly experience the advantages of RFID-enabled merchandise management, which include reducing the number of markdowns and fewer gaps on shelves.
“The launch of Detego’s InStore Lean Edition provides a quick-start solution that’s productive within hours, not weeks or months, without the complexities typical of most IT implementations,” says Detego’s CTO, Michael Goller. “Fully hosted and managed in the cloud, it is being targeted at retail chains, pop-up stores, franchisees and brand store owners who want to benefit from modern in-store technologies without the need to invest in fully fledged, large-scale IT projects.”
The new software is highly modular and scalable, meaning that retailers can start with just a few stores and scale to hundreds or even thousands within a short period of time. Additional features can be added at later time, including retail analytics, omni-channel services such as “click&collect”, and other consumer engagement and supply chain applications.
The fully hosted and managed SaaS (software-as-a-service) offering that runs on SAP’s Cloud Platform enables retailers to seamlessly integrate systems across various applications. The combination of the SAP Cloud Platform and the analytics and merchandise software from Detego provides the basis for customer-centric processes and services, as well as real-time applications in omni-channel retailing. In the light of ongoing consolidations within retail chains, this gives fashion retailers a competitive advantage and differentiating element for their brick & mortar stores.
Detego’s new chatbot can be used at any time on a customer’s smartphone to help provide more pertinent product information or recommendations, based on real-time data on actual availability and customer preferences. The built-in machine-learning and artificial intelligence (AI) capabilities adapt to the ever changing dynamics of fashion retail, which means that results get better and better over time.
Detego, a market leader in real-time business intelligence for the fashion industry, is launching a new mobile solution for retailers which will give faster and cheaper access to the benefits of digital connectivity. Thanks to imbedded radio-frequency identity (RFID) tags on every product, benefits include being able to painlessly carry out stock-takes on smartphones and near hundred percent inventory accuracy, so fewer gaps on the shelves and no lost sales from missing sizes.
“Most retailers are aware of the advantages of RFID and want to constantly monitor the movement of goods, but many are put off by the perceived high costs of system integration,” says Detego’s chief executive, Uwe Hennig. “With the cost of tags having fallen dramatically over the last few years, the time is right to launch a new, leaner version of our software so that retailers can quickly see for themselves the gains being made in smart tracking devices and the endless opportunities of joining the Internet of Things.”
Detego’s InStore Lean Edition provides a “quick-start” solution for retailers that want to start small and possibly scale over the entire store network later on. Available via the cloud, it is being targeted at retail chains, pop-ups, franchisees and brand store owners that don’t necessarily want to invest in large-scale IT projects, he says.
The new software allows retailers to constantly monitor inventory in real-time and automate the replenishment process, not to mention improve both the availability of products and customer service. A clear path of scaling makes it possible to roll-out the software and later add other Detego products or functions at any time, including additional applications for all in-store processes and omni-channel services such as “click&collect”, as well as managing inventory throughout the supply chain, and comprehensive analytical features.
“The fashion retail industry in particular requires a fast introduction to the digital age, but at the same time a future-proof solution that is scalable,” adds Hennig.
Detego, market leader in real-time business intelligence for the fashion retail industry, is presenting in-store innovations at this year’s Paris Retail Week in cooperation with its French integration partner IER. The leading trade fair in fashion retail will be hosted at the Expo Paris Porte de Versailles from September 19th to 21st, 2017, and represents the largest cross-channel event in Europe, combining e-commerce and digital in-store topics. At the event, Detego will be demonstrating how fashion retailers are using RFID-based merchandise management to set the base for the Digital Store and actively drive in-store consumer engagement through intelligent fitting rooms, so-called Smart Fitting Rooms, and the chatbot Detega.
Fashion retailers, franchise partners and department stores are increasingly in need of real-time article transparency as well as analysis in the store; the basis for that is an RFID-based merchandise management that enables fashion retailers to provide their customers with a high level of article availability and reliable information on item-level. In addition, new technologies are required to ensure that consumers really relate with the brand and the store. Detego offers the right solution for both challenges and presents innovative in-store applications for the French fashion retail market that traditionally plays a leading role in the fashion industry.
„The fitting room is the place were buying decisions are made. With the help of interactive technologies, fashion retailers want to enter into dialogue with their customers in this stage of the buying process. Today’s digitally engaged customers expect an optimum shopping experience, this also includes online-experience in-store. Chatbots, for example, support customers in their search for articles and in checking article availability as well as provide product recommendations”, Uwe Hennig, CEO at Detego, explains new developments in the market.
Artificial Intelligence (AI) as well as self-learning systems should help to relieve store personnel. Therefore, chatbots take on the conversation with the customer when no sales assistant is available at the moment or offer self-service in the store for customers who initially do not want personal advice.
Visitors of Paris Retail Week will have the opportunity to engage with these new in-store applications first-hand.
Specialist retail software provider, Detego, has successfully eliminated over three million stock shortages during various pilots and ongoing retailer projects after using merchandise management software powered by artificial intelligence to help combat perilous out-of-stock situations.
Thanks to tiny radio-frequency identity (RFID) tags attached to every item and the real-time monitoring of articles from warehouse to store using connected devices, Detego is trying to make sure that missing sizes and gaps on the shelves are no longer such an issue and headache for retailers. Projects have shown high article availability and near hundred percent inventory accuracy when using IoT technology and the AI powered Detego suite, compared to an industry average of around seventy percent in most fashion retailers’ businesses.
The AI software is also being used to analyse vast amounts of data and uses machine-learning to better understand the behaviour of several million consumers, deriving insights and actionable recommendations for retailers, it said.
Analysis shows that the vast majority of shoppers today still favour visiting a store. This trend is particularly strong in fashion, although a growing proportion are switching to other omni-channel options, including shopping online, via smartphones, or click-and-collect from nearby stores.
“Even with all the advances of the digital age, more than 80 percent of retail sales happen in bricks-and-mortar stores. In the fashion industry, customers still want to walk into shops to see, touch, and try on different outfits. While customer motivations for entering stores are largely the same as they were twenty years ago, their expectations are much higher. Customers who can find anything they want on their smartphones in seconds expect similar instant gratification in stores. They want the items they see online to be available in the store and in their preferred size, style and colour,” said Uwe Hennig, CEO at Detego.
Detego has seen significant growth in omni-channel services this last year, recording over 1.5 million omni-channel transactions through its software suite.
“Omni-channel services like click-and-collect are another important cornerstone for connecting the best of the online world with the benefits of bricks-and-mortar,” said Hennig. “Customers now expect a seamless, unified retail experience across multiple channels: for instance, being able to click on and reserve any items discovered online for trying on in a store the next day.”
Detego, a market leader in real-time business intelligence for the fashion retail industry, announced today that the company is partnering with SAP. The software company is the first to offer in-store analytics fully integrated on the SAP Cloud Platform to the fashion retail market. The combination of the SAP Cloud Platform and the analytics and merchandise software from Detego provides the basis for customer-centric processes and services, as well as real-time applications in omni-channel retailing. This gives fashion retailers a competitive advantage that drives digital change within the company, especially in the store.
The RFID-based Detego Suite, which is offered in a SaaS (software-as-a-service) model, provides real-time insights into the inventory of fashion retailers and comprehensive in-store analysis and reporting. The highly scalable and flexible SAP Cloud Platform helps retailers expand and integrate their business applications more easily than ever before. The Detego software running on the SAP Cloud Platform enables a seamless integration with other existing applications. As a result, retailers gain various benefits one of which is from the smart linking of real-time information on article availability and their CRM systems that provides the necessary information for both store staff and consumers to improve the overall customer experience.
“A critical success factor for fashion retailers is to consistently align all processes and services within the company according to consumers’ requirements and to adapt quickly to change,” said Uwe Hennig, CEO at Detego. “This requires flexible, cloud-based IT systems, real-time software applications and the seamless integration of diverse applications. We are very pleased to be working with SAP and supporting the global, customer-centric IT strategies of fashion retailers through a joint platform.”
Today´s well-informed consumers have fundamentally changed the retail business. SAP solutions enable a detailed understanding of customer requirements and transparency along the entire supply chain. The SAP Cloud Platform based application SAP Fashion Management System is increasingly being used in the fashion retail industry. The partnership between SAP and Detego complements the offering of both companies in this particular market, especially in the store by providing near 100 percent inventory accuracy, fewer out-of-stock situations and important in-store KPIs. Together, SAP and Detego support fashion retailers to make the most out of their stores and to offer their customers a consistent positive shopping experience across all channels.
Detego, a market leader in business intelligence and real-time analytics for the fashion retail industry, is launching new software to actively support retailers in their consumer engagement strategies. As part of its omni-channel retailing software suite, Detego InChannels bridges the gap between online and bricks-and-mortar retailing by using more digital touchpoints in stores. These include digitally connected “smart fitting rooms” and interactive screens on the sales floor, as well as the introduction of a new Detego chatbot that accompanies customers throughout the entire buying process at any time on a customer’s smartphone.
Detego’s pioneering Smart Fitting Rooms technology allow customers to directly communicate with store personnel via interactive screens in the fitting room and request other products or sizes be brought to them (or even be delivered to other locations). A global sportswear retailer is currently rolling out the concept across its store estate, including arming its staff with iWatches to help guide them with more informative, real-time information.
The software provides reliable data on the number of articles that have been tried-on and sold or not (with fitting room conversion rates unique to the system). Social media feeds built into Detego InChannels also give customers the ability to post recommendations or put together outfits that can be shared within their community. This helps boost levels of engagement with customers, particularly in stores, increasing interaction across a broader range of products.
By using Detego InChannels, retailers are able to get a much deeper understanding of consumer behaviour across various different channels. Detego claims that its software’s more precise and intelligent product recommendations – based on using real-time data on product availability – can increase sales and reduce the number of unnecessary markdowns. For instance, only articles that are currently in-stock are flagged up and the intelligent system can even be used to encourage more sales of otherwise slower-selling or higher margin items. The AI capabilities of Detego’s software also mean that the recommendations get better and better as the logic behind the self-learning system continually improves and increases its functionality.
“Retailers have to adapt their store processes to the expectations of a new, digital customer using more modern-day technologies that bring the customer, store and online worlds together for good,” says Uwe Hennig, CEO at Detego.