Retail Pro® Ranked Top Retail POS in Market Share, Global Reach, Innovation, and Growth

Retail Pro® Ranked Top Retail POS in Market Share, Global Reach, Innovation, and Growth

Folsom, CA, Nov. 25, 2019 — Retail Pro International today announced its cross-platform, cross-channel POS and retail management software Retail Pro® ranked in IHL’s latest Retail Executive Advisory Program Research Study as number 1 retail mid-market POS in market share, global reach, innovation, and growth.

“Over the years we’ve amassed a tremendous amount of primary and secondary-source data in this pursuit to assist retailers in vendor selection and to help understand the trends transforming our industry,” said Jerry Sheldon, Vice President of the IHL Group.  “The study considers primary and secondary source data to evaluate and rank on-premise and SaaS POS for retailers with chains ranging from 1 to 100 locations – representing over 9 million POS locations installed POS units worldwide.” 

In this hyper-competitive context, Retail Pro holds 5.9% market share in the midmarket slice for general retail and also ranks as a top performer in IHL’s positioning map which measures vendors by innovation and market strength dimensions.

Kerry Lemos, CEO of Retail Pro International, comments, “We thrive in the highly creative and demanding environments in all major markets worldwide. Striving together with our loyal customers drives us to keep honing our technology to be more efficient, more innovative, and more adaptable to the diverse retail brands using Retail Pro worldwide.”

As retail in emerging markets continues to expand and enterprise retailers are rearchitecting systems for unified commerce, IHL projects the POS software market will grow 53% from $3.2 billion in 2018 to $4.9 billion in 2023, implying further growth opportunity for top POS providers.

“In spite of economic condition setbacks in some markets, retail continues to advance in North America, EMEA and APAC. This presents our retail technology solution providers with an opportunity to move forward and prosper in the era of intentional innovation,” commented Greg Buzek of IHL. 

“These companies, ranked above all others in our study, represent a cohort of movers who push and help organizations drive growth. We congratulate the top-performers who move our industry forward.”

POS - ww mid market pos vendor positioning general retail 1024x792 - Retail Pro® Ranked Top Retail POS in Market Share, Global Reach, Innovation, and Growth

About Retail Pro International

Retail Pro International (RPI) is a global leader in retail management software that is recognized world-wide for rich functionality, multi-national capabilities, and unparalleled flexibility. For 30 years, RPI has innovated retail software solutions to help retailers optimize business operations and have more time to focus on what really matters – cultivating customer engagement and capitalizing on retail’s trends. Retail Pro is the chosen software platform for unified commerce strategy by retailers in 130+ countries

Omnichannel: The “new” brick & mortar concept

Omnichannel: The “new” brick & mortar concept

    The face of Main Street stores has changed significantly during the last 20 years. Bookstores have been replaced by nail salons, clothing shops are now restaurants and flower shops have made way for pet groomers. Those are the types of services you can’t buy online, and they’re finding brick-and-mortar success. They are taking back Main Street, breathing life back into the vacant store fronts. And adding to this new look for downtown are traditional retailers that are using omnichannel to open successful businesses.

VIP Click and Collect

Take Nordstrom. The venerable, high-fashion store has debuted “Nordstrom Local.” Nordstrom Local doesn’t need a huge footprint, and doesn’t carry much inventory. But it’s a way for shoppers to buy online, pick up in store but also enjoy other amenities that are afforded the VIP shopper. Today’s fashionistas often order online, motivated by styles presented on social networking sites such as Instagram. A customer places her order online, then heads to Nordstrom Local to pick up her merchandise instead of taking advantage of free shipping. Why? To enjoy a manicure while sipping a smoothie and getting the inside scoop on the season’s hottest collection from the friendly, professional associate. Sure, curbside pickup is a popular option for those on-the-go, but those pedicure stations also have their place. Those are the competitive differences that will make Nordstrom’s top-of-mind for their next purchases. It’s Click & Collect, taken to new heights. It’s that type of something extra that drive customers into the store. This is the next level of omnichannel, in which the channel used for purchase is irrelevant.

 

A personalized approach

Retailers today need to entice shoppers out of their homes and into the stores. Just a few years ago, brick and mortar were written off as a dying breed, suitable only for “showrooming.” Slowly but surely, brick and mortar shops are finding secure footing back on Main Street. Not all the old names will make it back, and some are gone for good, because they just couldn’t reinvent themselves or their customer experience fast enough. But physical locations are a vital part of the omnichannel, offering a more personalized approach than any pure ecommerce retailer ever could.

Going Omnichannel with Retail Pro Prism

Going Omnichannel with Retail Pro Prism

Retail Pro Prism

Retailers going Omnichannel pass on tech benefits to customers

In-store customers account for 50% of all eCommerce activity, so closing the online-offline gap is critical for customer experience. In response, retailers pursuing omnichannel with Retail Pro are turning their technology gains into customer-facing conveniences for unified commerce that puts shoppers first. Here are three ways you can pass on the benefits of full data visibility in Retail Pro to your customers.

1: Show store inventory availability online

79% of shoppers research products online before buying in stores. Analysts are calling the trend ROPO – Research Online, Purchase Offline. With so many shoppers choosing this blended approach to shopping, you can use your inventory data in Retail Pro to give customers online visibility into a product’s availability at their local store and secure the sale.

2: Make personalized recommendations

Though personalized recommendations generate only 7% of online visits, they result in 26% of online conversions – well worth the effort. You can analyze customer history data in Retail Pro to personalize your marketing with recommendations based on items they recently or frequently purchased. Effective recommendations are those that complement what the shopper already purchased from you, rather than simply other iterations of items the shopper has already browsed or bought.

3: Blend channels into one holistic shopping experience

For on the go consumers, the real shopping is done on your website. They see your store as a fulfillment center where they will try on or pick up what’s needed on their way to do other things. Integrated ecommerce and store POS can help you create a streamlined experience for these busy shoppers: shoppers can plan ahead and fill up their online shopping cart, and then access it at your store POS to complete the purchase and get the goods.   Retailers pursuing omnichannel are taking on the monumental task of integrating all their data sources into a 360 degree view of their business.With full integrability in the Retail Pro platform, omnichannel is becoming attainable reality rather than simply rhetoric.Accurate, real-time communications in Retail Pro help you keep your inventory and customer information up to date across the entire business, so you can make better decisions from holistic, integrated business insights. Whether you’re leveraging Retail Pro for your brand stores, ecommerce, kiosks, outlets, franchises, store-in-store, or pop-ups, Retail Pro is one solution for all your retail and helps you unify commerce in a way that puts shoppers first.

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