Major benefits for Adams Childrenswear
High Street childrenswear retailer Adams has more than doubled its turnover of retail vouchers, following a major overhaul of the voucher processing system undertaken in conjunction with Nottinghamshire-based retail IT services specialist Retail Assist.
Retail Assist, a long-term partner to Adams in the supply of managed IT services was called in by Adams following a review of the company's existing approach.
Phil Davies of Adams explained: "The review undertaken by Secura Monde International, one of Europe's leading independent specialists in voucher and security printing, revealed that our existing system did not allow us to identify the volume of gift vouchers sold as gifts or given as credit vouchers.
"Furthermore, we had no way of analysing whether our existing gift voucher sales were bringing in additional revenue, in line with the industry average of a 60% uplift over the value of the voucher when redeemed.
"We also decided that we would need comprehensive management information to support future sales, as well as the new system needing to be able to handle transactions in Euros for the benefit of our customers in the Irish Republic."
A project team was set up involving experts from Retail Assist and Secura Monde alongside key Adams managers.
Retail Assist then undertook a two-day analysis of existing store systems to determine existing functionality. Key areas highlighted for development and then implemented by Retail Assist included a menu-driven, denomination specific sales and tendering system to facilitate gift and credit voucher transactions, alongside the imprinting of all voucher sales and redemptions at Point of Sale.
Retail Assist also activated a back-office voucher stock management and reporting system and introduced an electronic E-mail form for voucher reordering.
Most importantly, Retail Assist implemented a comprehensive central reporting tool, enabling Gift and Credit Voucher sales and Average Transaction value (ATV) information to be submitted to Head Office by stores.
Gift voucher stocks are now maintained and recorded remotely on the store stock management system, improving control and overall security, while the combination of the new mechanisms in place has allowed Adams to confidently schedule gift voucher sales on the company's promotional calendar.
Phil Davies continued: "Previously gift and credit vouchers were a part of our business that was difficult to monitor and therefore to maximise. Now thanks to the overhaul of the system undertaken by Retail Assist, we have integrated voucher sales into our overall business management, and are reaping the commercial benefits as a result."
Geoff Lloyd of Retail Assist added: "This project has further extended our long-standing relationship with Adams. This project is a clear example of how outsourcing some, or all, of the aspects of a particular project to specialist suppliers can bring measurable commercial benefits to a retailer.