Eurostop publishes paper providing guidance to retailers, based on conversations with its customers
Eurostop, a leading supplier of retail management solutions used by thousands of fashion, footwear and lifestyle businesses across the UK, identified that their retail customers that took part in Black Friday 2014 reported healthy growth figures from participating in the one-day event. This correlates with the official figures, which revealed British consumers spent £810 million pounds during Black Friday, making it the biggest shopping day of the year in 2014. However, retailers need to beware.
Increasing turnover at the expense of profit margin is a difficult equation to balance. Planning is paramount and the route to retail success is to become more data aware. Decision-making based on hard data rather than guesswork enables retailers to make the smarter decisions towards higher profits, greater customer satisfaction and sustainable growth.
Phillip Moylan, Sales Manager at Eurostop comments; “It is easy to understand why Black Friday has become so popular, consumers benefit from huge discounts on goods and retailers achieve a significant lift in sales and revenue. However, discounted goods and increased profit margins don’t generally go hand in hand. Retailers need a solid strategy to achieve the full benefit from Black Friday.”
First arriving to UK shores in 2010, Black Friday is a day when retailers heavily discount goods. The concept grew in popularity and by 2014 most of the major UK retailers participated resulting in a one-day sales frenzy, with consumers spending at the rate of £9,375 per second. Retail analysts are predicting that Black Friday 2015, and its lesser known cousin Cyber Monday, could see sales figures surpass the £1 billon mark.
“Retailers who want to improve turnover and profits, must communicate well internally and enable a marketing plan for this event. It is vital that retailers are able to assimilate their retail data into the decision making process. For retailers that don’t have a Stock Control and EPoS solution that can give them the information needed, it might be time to find a new technology partner before missing out on the next biggest shopping day of the year,” Moylan concluded.
For a copy of the paper please visit: www.eurostop.com or email: andreina@pra-ltd.co.uk
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NOTES TO EDITORS
About Eurostop
Founded in 1990, with operations in London, Singapore and Shanghai, Eurostop provides complete solutions for Retail Management for the Fashion, Footwear and General Merchandise sectors encompassing both hardware and software.
Eurostop’s flagship products consist of:
e-rmis: A suite of head office management applications.
e-pos: EPOS system for standalone shops, concessions and franchises that can be easily integrated with e-rmis for larger users.
Mobile POS: wireless/mobile e-pos designed to run on Windows tablets with integrated Chip & PIN – ideal for boutique environments where there is less emphasis on the central payment desk
e-commerce: Responsive e commerce solutions customised for independent retailers that provides a hosted and fully integrated service.
e-cubes: Data Mining. A bespoke reporting tool which allows the slicing and dicing of data as well as selective publication of results and graphical representation.
e-time: The capture of staff working hours which aids in monitoring both stores’ and staff performances and productivity.
e-fulfilment: Intelligent optimisation of e-commerce orders for multi-channel retailers.
e-manager: Middleware layer that enables the fast, reliable synchronisation of product and pricing data from most major ERP solutions to your e-pos estate.
All Eurostop’s solutions can be fully integrated with other management and business systems, and all major ERP systems.
As well as advising on and supplying suitable hardware, Eurostop also undertakes training, support and custom development. Its systems are available in several different languages including Chinese.
Eurostop has accreditation for Chip and PIN solutions, and together with partners Anderson Zaks and YESPay, provides a Chip and PIN managed service.
High profile customers include: Aquascutum, Ann Summers, Ben Sherman, Cambridge Satchel Company, DAKS, Ghost, Help for Heroes, Joseph, Lotus Cars, Pretty Green, Pentland Brands Plc, Speedo, Trespass and many more.
For more information visit: www.eurostop.com or contact:
Editors’ Contacts
Andreina West
PR Artistry Limited
Tel: 01491 639500
email: andreina@pra-ltd.co.uk