Luxury Retailer Honored for Innovative RFID Implementation in Footwear Department
NEUHAUSEN, SWITZERLAND--(Marketwired - Sep 11, 2013) - Tyco Retail Solutions (www.tycoretailsolutions.com), a leading global provider of retail performance and security solutions, has been recognized for its work with Saks Fifth Avenue by Retail TouchPoints. The 2013 Retail TouchPoints Store Operations Superstar Awards honor the top retailers who have successfully implemented the most innovative store operations strategies. Saks Fifth Avenue was named a winner in the category of Inventory Management & Merchandising for its pioneering RFID implementation designed to improve inventory visibility and merchandising in the footwear department. Partnering with Tyco Retail Solutions, Saks was able to optimize the customer experience by ensuring all available shoe styles and colors were displayed and available for purchase.
Saks Fifth Avenue's eighth floor shoe department in their flagship New York City store is 15,000 square feet and displays 3,000 high fashion women's shoes alone. With 4,000 shoes on display throughout the store and a minimum of 5,000 pairs arriving each week, Saks wanted to ensure every shoe was represented on the selling floor at all times. However, their existing process was too time intensive and not only hindered customer service, but also made it difficult to meet back stock compliance goals.
Working with Tyco Retail Solutions, Saks made the decision to adopt an innovative RFID based solution in late 2012 to address their inventory management and merchandising needs. The solution is built upon Tyco's TrueVUE retail software platform and its new Display Execution application. After just a few short months, Saks has been able to dramatically reduce the number of missing shoe display styles and can now represent a larger percentage of the available shoe assortment on the selling floor. Display compliance rates have increased from 65 percent to nearly 100 percent since the start of the project.
"Our work with Saks Fifth Avenue is a great example of how specific departmental RFID-based projects can deliver immediate return," said Nancy Chisholm, vice president and general manager, Tyco Retail Solutions. "We are proud to partner with Saks on this award-winning opportunity and are committed to helping all of our customers derive tangible business results through our innovative solutions and deep retail domain expertise."
About Tyco Retail Solutions
Tyco Retail Solutions is a leading global provider of integrated retail performance and security solutions, deployed today at more than 80 percent of the world's top 200 retailers. Customers range from single-store boutiques to global retail enterprises. Operating in more than 70 countries worldwide, Tyco Retail Solutions provides retailers with real-time visibility to their inventory and assets to improve operations optimize profitability and create memorable shopper experiences.
The Tyco Retail Solutions portfolio for retailers is sold direct through Tyco businesses and authorized business partners around the world. For more information, please visit www.tycoretailsolutions.com or visit www.YouTube.com/TycoRetailTV.
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