Thursday, January 8, 2009

UK:Q helps New Look buck the downturn

UK:Q helps New Look buck the downturn

UK:Q helps New Look buck the downturn

With Marks & Spencers shedding staff, Debenhams and Next reporting weak sales over Christmas, Zavvi in receivership and others major stores in freefall, there is one retailer in the UK notable for its positive results – New Look. Instead, the UK’s third largest womenswear retailer have seen like-for-like sales rise by 2.8% over the 14 weeks to January 3, bucking the downward trend that has been the leading feature of the high street over this period.

Amongst one of the tools allowing them to grow is a new software system installed in 2008 called Q by Quantum Retail, which allows retailers to achieve their merchandising goals for every product, in every store. In layman’s terms, this means an intuitive system that detects when one size is selling faster than another, when a line is not moving or when a certain item is flying off the shelf and adjusts the buying accordingly so that the customer gets what they want, when they want, every time.

вЂQ has placed the customer at the heart of our stock management and delivered impressive financial paybacks,’ says New Look chairman Phil Wrigley.

Quantum’s goal is to see its software installed not just at mainstream retailers, but in every mom and pop shop around the world, guaranteeing that all inventory is sold off and that wastage is reduced to zero, meaning the end of seasonal sales, clear-outs, and bargain racks.

Quantum was founded by a world class team of retail industry experts, technologists and scientists who believe that there is a better way to leverage technology to solve retail’s age-old challenges.

Quantum Retail’s Q software addresses:
Out of stocks
Unproductive inventory
Disparate processes and goals
Historic data and reporting
Costly and complex systems

It may not be a great start to 2009 for most retailers, but at least for New Look, the future is looking very good indeed.

Quantum Retail Technology, Inc. is a leading provider of software solutions that enable demand driven supply networks. Quantum’s flagship solution, Q, allows retailers to optimize inventory availability and supply network performance with low risk and high ROI. Q helps retailers continually achieve the merchandise and financial goal for every item in every location.

New Look has 590 stores in the UK and Eire, and 263 stores in France trading under the name Mim. In addition, New Look has 13 New Look branded stores in France and Belgium, and has recently opened franchise stores in Dubai, Kuwait and Saudi Arabia.