Bransom solves pricing puzzle facing watch retailers

NEW YORK, NY – JUNE 04: Watches are viewed in a window display outside of a Manhattan store on June 4, 2015 in New York City. As the Apple Watch and other smart-watches continue to make in-roads into the traditional watch market, many in the industry are paying close attention to consumers preferences when it comes to purchasing a watch. Fossil Group, which produces watches for Michael Kors, Tory Burch, DKNY and other designers, has reported a 7 percent decline in revenues in the first quarter, to $725 million. (Photo by Spencer Platt/Getty Images)

Bransom is making control of price mark-ups for multiple pricing structures easier for watch retailers and jewellers with a new addition to its technology.

It’s becoming more and more frequent with the multiple sales channels now available that retailers need to have several prices structured in their stock management system to cater for varying prices for high-street and online stores, for seasonal sales, staff purchases, prices for alternate stores or wholesale selling prices.

To make this more efficient for its bsmart2 system clients, Bransom has introduced the Price Matrix Module, where more options to set prices have been added to the established functions which enable the user to set and calculate prices based on a default markup factor.

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These may then be applied conditionally to all items, to selected groups or departments or even applied on an individual supplier basis so all items from that supplier override the default markup.

This could be, for example, setting prices for a supplier’s premium range differently from its standard range. Various combinations of supplier, department and sub-department may be configured, each with its own overriding markup.

Where items are in a sale, the matrix will allow a ‘was/now’ pricing display to be used on pad labels to illustrate the offer. This flexibility in managing pricing will allow retailers to spend less time calculating prices and more on the business of retail, according to the firm.

Additionally, the company’s new Live Sales Analyser module offers retailers the chance to receive daily email alerts informing them how their store sales are doing, eliminating the need to access back-office systems and reports to get a view of store sales.

Store owners and managers get a summary of a store’s sales automatically emailed to them daily, so they can instantly review the overall performance from each store in their portfolio.

A similar email alert can be sent when a single transaction over a preset threshold is made, for example any sales over £500. These thresholds are configurable on a per-store basis, so can be tailored to different store profiles according to the type of product sold. Emails may be sent to several recipients.

As an add-on module to Bransom’s bsmart2 Stock Management & EPoS system, the Live Sales Analyser is an online tool which provides a simple web interface to the store’s tills to instantly report sales performance against preset targets by store, staff and by product.

Best sellers can be quickly identified, as can any discounted sales or refunds. A breakdown of data can also be provided for each till in a store, the firm said.

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