Science & Technology
Science and Technology
Science and Technology
Tue, January 13, 2009 i2 Offers Recommendations for Retailers in 2009
NEW YORK--([ BUSINESS WIRE ])--i2 Technologies, Inc. (NASDAQ:ITWO) today offered recommendations for retailers looking to navigate through the challenges of 2009's tough economy: Consumer spending is down, competition is up and the need for efficiency is greater than ever. Retailers around the world use i2 solutions, and the company recommends preparing for the long term effects of the slumping economy by leveraging current systems to maximize efficiency, and gain market share.
According to i2 Vice President of Retail Gurdip Singh, retailers should focus on meeting expectations for service, convenience, and price, while at the same time aligning with the social concerns and values of a new generation of consumers. i2 is uniquely positioned to help retailers achieve excellence in these areas and recommends that retailers examine the following initiatives in 2009:
1. Corporate and Environmental Sustainability
Initiatives to increase corporate and environmental sustainability can no longer be classified as a fleeting trend for the retail or any industry. They are now an imperative. Sustainability projects and efforts to decrease waste throughout the supply chain not only enable companies to lower manufacturing and transportation costs, but also reduce their environmental impact. Furthermore, as the environmental cost is factored into consumer products, manufacturers and retailers should begin to work on initiatives to communicate how "green" their products are as part of their competitive positioning.
2. Any channel retailing
Exciting opportunities are available for multichannel retailing when retailers marry the world of social networks with traditional online, catalog and brick-and-mortar stores. Every aspect of a product's lifecycle from product design, marketing, launch, promotion and end-of-life markdown offers avenues for sustaining a loyal brand following for the retailer. This has expanded to include online community networks where consumers can be nurtured and incented to become brand ambassadors. In a tough economic climate when brands are likely to see consumers migrate to lower-cost store brands, Singh recommends that brand owners work collaboratively with retailers to create and promote social networks around key brands.
3.Enhance the consumer experience to increase loyalty
Today's tech-savvy consumer has instant access to competitive pricing information, allowing them to make more informed buying decisions at the point of purchase. As a result, retailers need to have even greater awareness of competitor pricing and promotions among both their brick-and-mortar and online peers, Singh believes that advantages related to cross-selling and up-selling commonly seen by consumers in online shopping environments should be implemented by savvy brick-and-mortar retailers to attract and retain in-store consumers who might otherwise step out to a competitor to purchase accessories or related products.
For more information and an i2 executive during the National Retail Federation (NRF) 98th Annual Convention and Expo, Jan. 11 - 14, in New York City, please send an email to [ info@i2.com ]. Attendees can also visit i2 the i2 booth, no. 1817, while at NRF.
About i2
Throughout its 20-year history of innovation and value delivery, i2 has dedicated itself to building successful customer partnerships. As a full-service supply chain company, i2 is uniquely positioned to help its clients achieve world-class business results through a combination of consulting, technology, and managed services. i2 solutions are pervasive in a wide cross-section of industries; 21 of the AMR Research Top 25 Global Supply Chains belong to i2 customers. Learn more at [ www.i2.com ].
i2 Cautionary Language
This press release contains forward-looking statements that involve risks and uncertainties, including forward-looking statements regarding i2's recommendations and ability to deliver results to customers worldwide. For a discussion of factors which could impact i2's financial results and cause actual results to differ materially from those in forward-looking statements, please refer to i2's recent filings with the SEC, particularly the Quarterly Report on Form 10-Q for the quarter ended September 30, 2008 and the Annual Report on Form 10-K for the year ended December 31, 2007. i2 expressly disclaims any current intention to update the forward-looking information contained in this news release.
