SOURCE: Tyco Retail Solutions
NEUHAUSEN, SWITZERLAND and NEW YORK, NY--(Marketwired - Jan 13, 2014) - NRF Big Show & EXPO (booth #2875) -- January 13, 2014 -Tyco Retail Solutions (www.tycoretailsolutions.com), a leading global provider of retail performance and security solutions, today announced Macy's has successfully implemented the TrueVUE Inventory Display Execution application across its 850-store chain. One of the nation's premier omni-channel retailers, Macy's recognized the unprecedented value of RFID enabled technology to increase inventory accuracy, enhance the customer experience, drive sales and increase efficiencies. As the "world's largest shoe floor," the Macy's flagship Herald Square location was an ideal environment to deploy the TrueVUE Inventory Display Execution application, and lay the foundation for larger RFID initiatives designed to support Macy's strategic omni-channel retail initiatives and unwavering commitment to customer satisfaction and the enhanced shopper experience. The RFID-based Display Execution application was subsequently rolled out in Macy's and Bloomingdales stores nationwide.
The World's Largest Shoe Floor
The dynamic shoe "salon" at Herald Square is home to 20,000 pairs of women's shoes. The posh, 63,000 square-foot space contains over 300,000 pairs of shoes, over 500 customer chairs, employs more than 400 shoe store staff and features styles that range in price from $49 to $1,600 from nearly 30 of today's most in demand designers. The leading retailer faced a significant challenge effectively managing inventory at this scale. By relying on Tyco's TrueVUE Display Execution application, Macy's was able to tag every display shoe with an RFID label, and easily and accurately inventory the shoes on display each day. As a result, Macy's has increased display shoe compliance from 65-70% to nearly 100%, dramatically reduced the number of missing shoe display styles and can now represent a larger percentage of the available shoe assortment on the selling floor, offering its loyal customers more styles to discover.
"Achieving 100% inventory accuracy and ensuring a positive customer experience is paramount to our success. To meet these goals, we have partnered with Tyco Retail Solutions, a proven leader in RFID enabled inventory intelligence solutions, to ensure the accuracy and reliability of inventories at the Herald Square location and across the chain at any given moment," said Pam Sweeney, SVP Logistics Systems, Macy's. "Everyone from sales associates to key stakeholders has been impressed by the application's ease of use, efficiency and quick ROI, underscoring the undeniable benefits of RFID to achieve store excellence."
Key benefits of the application:
- Increase display compliance by over 30 percent, in most cases
- Promote sales increases
- Reduce time required for display counting and restocking
- Reduce overstock conditions and markdowns
- Decrease labor costs associated with inventory compliance
"The retail landscape is evolving and so are the technologies required to ensure success. RFID is emerging as a critical retail enabler, uniquely designed to provide the insight retailers need to optimize inventory and store operations," said Nancy Chisholm, Vice President and General Manager, Tyco Retail Solutions. "A retail thought leader and industry visionary, Macy's understands the value RFID can bring to bear and the opportunity to integrate RFID into the fabric of store operations, one pair of shoes at a time. We are thrilled to partner with Macy's on this strategic initiative."
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 TycoRetailSolutions.com or follow us on LinkedIn, Twitter, and our YouTube channel.
TYCO, SENSORMATIC, TRUEVUE and the product names listed in this document are marks and/or registered marks. Unauthorized use is strictly prohibited.