On October 25th, the event “Fashion Retail Transformation – Connected Reality and how the Internet of Things is changing Fashion Retail” powered by Detego took place in the premises of Intel’s IoT Ignition Lab London.
Participants from the fashion retail industry gathered to gain new insights on how retailers can embrace and benefit from the connected reality. The guests of the event enjoyed presentations by adidas, Intel, SAP and Detego unveiling the transformational potential of IoT in retail. The speakers presented how data-led insights are used to strategically redefine the store, to improve operations as well as to offer a better in-store experience for customers.
Showcases presented in Intel’s IoT Ignition Lab gave participants the opportunity to engage with latest in-store technologies and to see how embedded sensors and real-time analytics are changing the way retailers manage merchandise and learn about their customers.
On October 4th, 2016 the the ScanSource Conference “Everything’s POSsible” focusing on POS and retail solutions took place in the Hightech Campus in Eindhoven, Germany.
Uwe Hennig, CEO at Detego, was invited to join the event as a speaker. In his presentation “Big Shift in Fashion Retail – How consumers and technology disrupting an industry” he gave insights into the massive changes the retail industry faces and how retailers can master the challenges involved.
For more information, please contact us: events@detego.com
Detego, a specialist in real-time business intelligence for the fashion retail industry, is launching Detego InStore 4.2, making it the first vendor to offer in-store software with comprehensive functionalities for omni-channel retailing. Many international fashion retailers, including G-Star and Marc O’Polo, already use Detego InStore for providing real-time transparency on individual items across multiple channels. Following the introduction of Detego software and RFID tags on every item of clothing, a recent pilot with one global fashion brand revealed that it was able to boost sales and improve inventory management across its mobile, store and online business. Other live projects have shown Detego’s software to increase merchandise inventory accuracy from an industry average of around 75 percent to up to 99 percent. The latest release features a number of standard applications for omni-channel retailing, including ‘click & reserve’, ‘ship-from-store’ and ‘return-to-store’, enabling fashion retailers to more effectively manage popular services like same-day deliveries.
“Detego InStore bridges the gap between online and offline retailing and allows fashion retailers to support their customers at every touchpoint, along the entire customer journey,” says Uwe Hennig, CEO at Detego. “It means that stocks will be used more intelligently and omni-channel retailing strategies can be implemented in a more cost-efficient way.”
The cloud-based Detego retail software differs from many rivals by providing item-level visibility of merchandise, whatever the channel, as well as offering a complete in-store solution with comprehensive omni-channel applications (including hardware, service components and updates), all for a monthly subscription fee, rather than large upfront investment. The software is particularly geared towards fashion retailers because of the need to closely monitor so many ranges, styles, colours and sizes, as well as the inherent costs of over-supply and discounting. Detego says that franchisees and consession stores are also built into the software’s omni-channel set-up to ensure a positive brand experience across all channels for customers.
“Consumers no longer distinguish between online and offline, or brand-owned and franchise stores, but rather expect a seamless shopping experience across all channels,” says Hennig. “And this can be achieved without the constraint of increasing stocks in stores.”
On Thursday, September 15th 2016, the official opening event of the Intel IoT Ignition Lab London took place.
The joint showcase of Intel and Detego gave retailers the possibility to experience the latest in-store technology and resulting business benefits. Real-time insights into merchandise flow and customer behaviour as well as newly gained store KPIs, enable fashion retailers to optimise their store business and to offer customers a positive customer experience.
Detego’s software suite for real-time analysis and article transparency for the fashion retail industry is part of the Intel® Retail Sensor Platform ecosystem.
For more information, please get in touch: events@detego.com
Detego, a provider of business intelligence for the highly-competitive fashion industry, announced today that the company is partnering with Software AG (Frankfurt TecDAX: SOW), to provide retailers with the ability to seamlessly incorporate real-time analytics and merchandise visibility at the item-level, enable retailers to interact with their customers and bring them on innovative ‘digital’ journeys, and transform their businesses without the need to replace their existing technology infrastructure.
The Detego suite provides granular insights into a retailers inventory, including real-time, item-level location (in the store, backroom and warehouse), a hands-free RFID system, comprehensive analytics and reporting. Software AG’s Digital Business Platform provides the “Integration glue’ to easily incorporate the Detego suite with their ERP and CRM systems, as well as their overall IT infrastructure.
Oliver Guy, retail industry director, Software AG said: “Digital transformation is a disruptive force that helps retailers become significantly more competitive and remain healthier for the long term as rapid change obliterates traditional business methods. By connecting to, and orchestrating across, a retailers’ IT ecosystem, the combined solution of Software AG’s Digital Business Platform and the Detego suite introduces an entirely fresh way to interact with customers, to promote unique value propositions, and to go to market in diverse and exciting ways.”
Detego enables fashion retailers to leverage one of their greatest investments – their brick and mortar stores – by transforming them into omni-channel hubs. Partnering with Software AG enables Detego to set a new benchmark in rapid and cost-efficient deployment of in-store software.
Uwe Hennig, chief executive officer, Detego, said: “Retailers around the globe are striving to create an omni-channel shopping experience. We are delighted to be working with Software AG by providing powerful new capabilities that evolve existing business models and design innovative omni-channel experiences, optimize legacy retail systems, and will generate new revenue streams. Time, cost and investment protection are key factors for fashion retailers when implementing digital store and omni-channel strategies.”
Software AG helps many retailers with their omni-channel strategies. Understanding inventory across the business is a first step towards being able to fulfill customer promises in an omni-channel environment. Without it, excess inventory and missed orders can result.
Oliver Guy also noted: “Importantly, digital transformation is more than an IT upgrade or add-on; it’s a completely different way to think and achieve things. Software AG understands this and introduced the Digital Business Platform to enable this digital transformation from retail store to digital showroom. And, since retailers must be able to connect to different, disparate merchandize and ecommerce systems from multiple technology vendors, Software AG offers a vendor agnostic approach to system integration. This means there is no vendor lock-in or lock-out to worry about.”
The combined Detego/Software AG solution is available on Software AG’s Digital Marketplace – a one-stop shop for digitalization solutions and development essentials from Software AG, its partners and customers.
For more information on omni-channel transformation using the Digital Business Platform, please visit: http://connected-retail.softwareag.com/.
Detego, the market leader in real time business intelligence for fashion retail, is the first vendor to offer in-store software that provides out-of-the-box support for fixed RFID readers.
Removing the need for store assistants to manually scan using handheld RFID readers, the hands-free reader system with Detego InStore creates complete inventory transparency and near 100% inventory accuracy and provides completely new insights into the in-store business. The implementation of Detego InStore and state-of-the art, hands-free RFID technologies enables fashion retailers to both automatise processes and reduce administrative duties, freeing staff to focus on customer service. In combination with increased inventory transparency, this leads to an enhanced shopping experience and a higher sales conversion rate. For retailers looking to implement an omnichannel strategy, Detego InStore and fixed reader infrastructure lays the right foundation through constant real-time transparency on item level.
Retail digitalisation and omnichannel strategies put a burden of transparency on merchandise flow and efficient channel coordination. Detego InStore with fixed reader infrastructure enables fashion retailers to automatically collect data from their entire range of articles in real-time with no scanning needed. This provides them with a reliable inventory and transparency without human intervention, meaning high quality data at a low operational expense.
The implementation of fixed reader infrastructure and real-time analytics opens up completely new opportunities for fashion retailers to gain deeper insights into their in-store operations and how to actively manage them. Through constant transparency of the flow of goods, a retailer can analyse the movement of products in-store, revealing insights such as which items are most frequently tried-on and subsequently bought; or those which never make it to the fitting room or Point of Sale. This analysis helps to avoid out-of-stock situations and enables fashion retailers to optimise their offerings and product presentation for higher revenue generation.
The RFID-based Detego Suite for real-time analytics and article transparency is already successfully in use by many leading fashion retailers. For Detego InStore with fixed reader infrastructure, Detego provides a competitive fixed monthly rate, including the hardware and software as a complete package, allowing customers to benefit from measurement and analysis of customer behaviour at a low cost.
Uwe Hennig, CEO of Detego, commented: “In today´s world of omnichannel retailing, article accuracy across all systems is no longer optional. RFID applications in fashion retail have already proven their business benefits. Fixed ceiling readers have now reached a level of technical sophistication and price point that allows for constant and fully automated stocktaking on the sales floor. We are glad to be the first software provider to offer in-store software for fixed readers for the fashion retail market. Successful customer implementations of this software have proven that hands-free reader infrastructure and real-time analytics open up completely new possibilities for managing and optimising in-store operations.”
Detego presented itself as an attractive employer for young talents of technical and scientific studies at this year’s Teconomy taking place at the Technical University in Graz. With more than 90 participating companies, the Teconomy is Austria’s largest career fair, organised by students and attracts 4.000 visitors every year.
Students and visitors of the exhibition had the chance to speak to representatives of Detego and to learn more about career opportunities the company offers. Since 2011, Detego develops and distributes the Detego Suite, a modular SaaS (Software-as-a-Service) software to provide real-time analysis and article transparency for fashion retailers in stores and along the entire supply chain. Detego’s qualified team of software engineers, RFID experts and fashion industry consultants continuously develops and improves the product that has proven to be an ideal fit for many well-known fashion brands.
Detego is continuing its growth strategy and is constantly looking for people with solid skills in software development, product management, project management and consulting.
Detego was invited to present itself as a Red Herring Top 100 company to an audience of investors, analysts and C-levels of different businesses at this years Red Herring Europe Event, which took place in Amsterdam from April 11th-13th, 2016.
Since 1996, the most promising high-tech start-ups in Europe, Asia and the United States are honoured with the prestigious “Red Herring Top 100”-Award. This year, Detego has been selected as a „Red Herring Top 100 Europe” company, thanks to its high innovative strength and great growth potential. In a multistage process, hundreds of companies were analysed and evaluated by a jury of experts. The evaluation criteria were focused on technology, innovative strength, market potential and business strategy, as well as management and economic performance of the different companies. Only those businesses with a promising future perspective, make it to the Top 100. Former winners of the Red Herring Award include companies like Facebook, Twitter, Tesla, Yahoo, Skype or Spotify.
Detego, the leader in business intelligence for fashion retailers, was selected for the prestigious “Red Herring Top 100 Europe” Award. The international Red Herring Business Magazine assigns its award since 1996 and thereby rewards the most promising high-tech start-ups in Europe, Asia and the USA. More than 20 quantitative and qualitative criteria are incorporated into the analysis and assessment by the jury. Detego was selected and added to the “Red Herring Top 100” list due to its high innovative capacity, its groundbreaking innovations for the fashion retail sector and its enormous growth potential. The award ceremony will take place in Amsterdam on April 12th.
Detego was chosen for the category “Retail Technology” and is being seen as one of the most innovative and promising high-tech businesses in Europe. The company develops and distributes a suite of software products for real-time analysis and article transparency and allows fashion retailers to meet the challenges of digitalisation and ever-changing customer requirements.
In a multi-stage selection process, the companies were rated on criteria such as the financial result, technology & innovation, management, business strategy as well as the market potential. Red Herring’s list has become a mark of distinction for start-up companies and Detego joins prominent previous Top 100 Global alumni including Facebook, Twitter, Google, Yahoo, Skype, Spotify, Tesla and Salesforce.com. As a consequence, the Red Herring Award is also an important indicator of the potential of start-ups for investors.
Uwe Hennig, CEO at Detego: “We are pleased to receive this award, especially as it confirms our position as an innovative leader in fashion retail technology. This benefits our customers; with our products and innovative strength, we ensure that international fashion retailers are prepared for current as well as future challenges.”
On March 23rd, 2016, Silicon Valley Bank, a leading bank dedicated to the innovation and technology sector, invited to its annual Forum taking place in London. More than 130 participants from the retail industry and high-tech investor community joined the invitation-only “Smart Retail Showcase 2016” event to discuss about digitalization and the necessary technological changes. Paul Coby, CIO of John Lewis clearly stated that delivering on the omni-channel promise for consumers necessitates retailers to renew their IT-systems. There was general consensus that without well-functioning software systems, retailers are not in the position to offer the customer experience that today’s consumers expect.
Detego was invited to talk about real-time in-store analytics as this is seen as one of the important technologies in retail to future-proof the business.