Retail Pro International has launched Retail Pro Planning, its latest software designed to optimize the use of data in the industry.
The global-leading retail management software company from California revealed the details of its new product on Thursday.
Its software leverages retailers’ Retail Pro POS data to forecast future sales and make data-driven recommendations in the areas of assortment, quantity, and timing to optimize inventory purchases.
Seasoned consultants with extensive retail expertise provide one-on-one guidance and training to help retailers realize profit potential in their inventory and purchasing strategy.
“Retailers are focused on integrating their key business technologies. This is creating a single, unified source of retail data and Retail Pro Planning empowers retailers to do something productive with it,” said Retail Pro International Director of Product Strategy, Kevin Connor.
“Retail Pro Planning converts inventory data into actionable insight that helps retailers improve forecasting accuracy, turn, and cash flow, and increase sales and profit.”
Retail Pro Planning software and consulting helps retailers analyze their current merchandising strategy to determine:
• Improvements for class performance
• Potential for increased sales
• Capacity for reduced markdowns
• Scope for generating more cash flow
• Expense structure fit for the business
Retailers using Retail Pro Planning experience significant business results, including:
• Increased turn
• More than doubled GMROI
• Substantive ROI increase, frequently ranging from 5 to 12.9 dollars for every dollar spent