SHOWROOM TECHNOLOGY, INC. LAUNCHES
WITH ACQUISITION OF INNOVATIVE RETAIL SYSTEMS, INC.
Showroom-based promotional kiosk designed to increase sales is cornerstone of large-scale expansion plans into big ticket retail.
Reston, Virginia – May
25, 2004 – Showroom
Technology, Inc. announces the official launch of its
business with the acquisition of Pennsylvania-based
Innovative Retail Systems, Inc. and seeks to raise
investment capital. Showroom Technology plans to significantly
expand on progress made by Innovative Retail Systems
with its introduction of the innovative 360° RetailTM
solution, designed for retailers who sell high margin
goods through retail showrooms. Showroom Technology
will leverage Innovative Retail Systems’ recent
customer wins, proprietary technology, strategic partnerships,
and firstmover advantage to quickly capture market
share in the big ticket marketplace.
Featuring a promotional
kiosk that engages consumers in the showroom, the 360° Retail
solution delivers improved sales performance at the
showroom level by improving a retailer’s conversion
of showroom traffic to sales orders, increasing its
average ticket (sales order) size, and improving customer
service. The 360° Retail solution leverages a retailer’s
Private Label Credit program, engaging a consumer early
in the sales process with its promotional kiosk to
conduct a fast and private credit application, receive
promotions or same-day coupons, and “surf” a
virtual showroom. The key advantage of the 360° Retail
solution is that it pulls key information about a consumer
in the showroom while pushing items of interest to
them, offering the consumer more “opportunity” to
make a purchase while they are in the retailer’s
showroom. Research shows that when a consumer leaves
a big ticket retail showroom there is an 80% likelihood
they will not return.
“With the acquisition of
Innovative Retail Systems and the 360° Retail brand,
Showroom Technology is in a position to more broadly
offer big ticket retailers a unique and valuable solution
geared specifically to improving showroom sales performance”,
said David Weyher, chief executive of Showroom Technology,
Inc. In connection with this acquisition, the company
will be announcing the addition of key members to its
staff. Showroom Technology will have its headquarters
in Reston, Virginia.
About Showroom Technology, Inc.
Launched
in 2002 to specifically address the needs of big ticket
retailers, Showroom Technology is first-to-market
with innovative technology for big ticket retail that
improves sales performance at the showroom level. Its
innovative 360° Retail solution, featuring a promotional
kiosk, leverages a retailer’s Private Label Credit
and other promotional programs to dramatically improve
the opportunity to increase sales in retail showroom.
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