Technology now key to moving, selling product
Gary Evans, Senior Editor -- Furniture Today, January 29, 2007
Tell us what you want." That's been the mantra for years at San Diego-based Myriad Software's annual users' conference, where leaders Carolyn Crowley and Russ Higgins ask retailers for software suggestions to help their stores run better and turn in higher profits.
At events like this, there's often enough feedback for Myriad to begin development of new software. The same thing happens at conferences put on by its competitors.
A couple of years ago, clients asked Myriad for a program that would make price changes fast and easy with a few keystrokes. That way, merchants could offer a sofa spectacular, a chair clearance, a seasonal sales event or a change in manufacturers' prices without stress or stain.
Myriad responded with the Retail Price Manager, which can handle hundreds, even thousands, of changes quickly. For example, using this technology a retailer could increase the price of all sofas from a particular manufacturer, decrease pricing on all dining room furniture or mark down discontinued items — and do it all simultaneously. What a time-saver! And, after all, time is money.
Innovation is always wanted and software companies work hard to provide it (and make money themselves). That's why user conferences are often productive and worthwhile as a place to learn and come up with new ideas.
Things like new products and faster delivery tend to create the buzz in our industry, while technology, which keeps track of those products and speeds delivery, is a behind-the-scenes element. Nothing flashy.
But technology has become more and more important to manufacturers and retailers, who are working harder and harder to eke out margins large enough to justify their existence.
Testimonials from retailers show that they are using today's technology to save thousands of dollars and, in one case recently, over $1 million dollars per year — not exactly pocket change. And while some may think of software as a nuts-and-bolts money-saver for accounting, inventory control, EDI and the like, it's also a highly regarded tool for driving sales.
Where's the savvy consumer's first stop on the way to a purchase? Nowadays, it's the Internet. Go to any store's Web site and you'll see, in most cases, a good presentation of everything the store has to offer. That's not just virtual reality, because a strong Web presence translates into dollars at the cash register. In other words, you snooze, you lose.
The amazing thing is that it wasn't so long ago that the only electronic means of selling was television and radio.
The point is that electronic programs and systems have become a major consideration for furniture stores. And that's what this new column will deal with, explaining the latest developments in technology and how they benefit retailers and producers.
I'm eager to know what's working for you. Call me at (336) 605-1087 or e-mail me at glevans@reedbusiness.com.
Let's stay in touch.
