Avery Dennison and VeriFone Create Breakthrough Smart Device-Enabled In-Store Price Marking Solution

Wed Apr 3, 2013 10:00am EDT

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Avery Dennison Partners with Global Market Leader to Maximize the Value of
Existing Smart Devices to Further Advance the Rapid Expansion of Smart Device
Use at Retail
FRAMINGHAM, Mass.--(Business Wire)--
Avery Dennison Retail Branding and Information Solutions (RBIS) division, a
global leader in apparel and footwear industry solutions, is pleased to announce
it has partnered with VeriFone, the leading provider of next-generation mobile
retail software, to equip retailers with the GlobalBay Retailing solution, which
provides the most productive and accurate markdown solution to date. Through the
partnership and the development of its own smart device compatible technology,
Avery Dennison strengthens its ability to provide retailers with effective
solutions for mobile devices. 

Smart devices are infiltrating the retail environment, improving the customer
experience with more efficient and productive interactions between shoppers and
associates. They are also establishing a better way to keep track of and manage
inventory data. As more retailers continue to arm their employees with smart
devices to help customers, it will be important for them to look at how they can
get the most out of these implementations. Through the Avery Dennison and
VeriFone partnership, retailers can now add price markdown capabilities into
their existing smart device systems quickly and easily. 

Markdowns are a fact of life in apparel, with 35 percent of unit volume moving
at discounted pricing. Effective execution is critical, but most retailers
currently rely on an inaccurate, labor-intensive process. Using the traditional
"red pen" markdown process, store associates can only complete three garments
per minute with 63 percent accuracy. 1 That means that over a third of items are
mismarked, leading to lost sales when a potential customer fails to see the deal
the retailer intended to offer. There`s also no way for the merchandising team
to monitor the timing and execution of the markdown process, and to work with
store operations to address stores that have particular execution challenges. 

The Avery Dennison solution includes a robust, turnkey markdown application
developed through the new partnership that enables retailers to maximize the use
of the smart devices that they are currently investing in for customer service,
to improve sales and save labor through a more effective markdown process.
Combined with Avery Dennison`s own smart device compatible Pathfinder 6140
Printer, a one-piece scan, print and apply handheld price marking technology,
the Avery Dennison Markdown application ensures markdowns are executed
accurately and productively. It also provides retail executives with full
dashboard reporting capabilities, creating increased visibility into the
process, allowing for continuous improvement. 

"The Avery Dennison Markdown application is highly configurable with smart
devices, allowing for rapid deployment so that retailers can drive ROI very
quickly," explains Mark Hill, vice president and general manager, global
innovation and solutions, Avery Dennison. "Through our partnership with
VeriFone, we are providing our customers with a fully featured price marking
solution as well as the ability to easily add additional modules such as mobile
POS and clienteling to their smart device application suites." 

"Our technology is deployed on mobile devices and already works seamlessly for
many retailers," said Sandeep Bhaonte, Vice President and General Manager of
VeriFone`s GlobalBay solution. "Through this partnership with Avery Dennison,
our customers will now have the ability to leverage their current mobile device
investment to integrate price markdown capabilities instantly into their smart
device technology. This powerful integration allows retailers to streamline
their operations process and free associates to spend more time selling." 

The complete Avery Dennison Markdown solution consists of the application, the
Pathfinder 6140, markdown labels from Avery Dennison, as well as integration and
support from both Avery Dennison and VeriFone. With this complete solution,
retailers receive all the benefits of the industry-leading markdown technology,
and can be up and running in a matter of weeks with little IT involvement
required. The Markdown solution has been certified under the Apple MFi program
as "made for iPhone, iPad and iPhone" and is also compatible with Android and
Windows CE/Mobile operating systems. 

About VeriFone Systems, Inc.

VeriFone Systems, Inc. ("VeriFone") (NYSE: PAY) is the global leader in secure
electronic payment solutions. VeriFone provides expertise, solutions and
services that add value to the point of sale with merchant-operated,
consumer-facing and self-service payment systems for the financial, retail,
hospitality, petroleum, government and healthcare vertical markets. VeriFone
solutions are designed to meet the needs of merchants, processors and acquirers
in developed and emerging economies worldwide. 

About Avery Dennison RBIS

Avery Dennison RBIS, a global leader in apparel and footwear industry solutions,
is a $1.5 billion division of Avery Dennison (NYSE: AVY). Avery Dennison RBIS
provides intelligent, creative and sustainable solutions to elevate brands and
accelerate performance from design to retail store floor. The company`s industry
leading, end-to-end solutions include innovative heat transfer technology, RFID
and price management supply chain solutions and sustainable packaging services.
Based in Framingham, Massachusetts, Avery Dennison RBIS employs 20,000 in 50
countries. For more information, visit www.rbis.averydennison.com. 

Avery Dennison helps make brands more inspiring and the world more intelligent.
The company is a global leader in pressure-sensitive technology and materials
and retail branding and information solutions. A Fortune 500 company with sales
of $6 billion from continuing operations in 2011, Avery Dennison is based in
Pasadena, California with employees in more than 60 countries. For more
information, visit www.averydennison.com. 

1 Internal study using 500 scanned garments

Racepoint Group
Samantha Porter, 617-624-3226

Copyright Business Wire 2013

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