SAN FRANCISCO, Calif., Nov. 16, 2015 /PRNewswire/ -- While established brands and big-box retailers struggle with declining sales and profits, the more than 1,400 independent retailers worldwide using Brightpearl to manage their business have enjoyed unprecedented annual growth. New analysis from Brightpearl reveals that the company's inventory management and retail business software has processed more than $2 billion in multichannel retail sales during the past year, with average same-store sales climbing 26 percent – far exceeding the U.S. Retail Sales YoY average increase of 2.4 percent (U.S. Census Bureau.)
The American Express Open Independent Retail Index found that nearly half of the total retail sales in the U.S. come from independent businesses, making smaller merchants a vital piece of the American economy.
Myriad factors have created the perfect ecosystem for independent retailers to grow and compete with large retailers in a global marketplace. Consumers are demanding new and unique goods and they have a wider appreciation for small local businesses. Savvy retailers realize that e-commerce sales channels extend their reach far beyond their local storefront, empowering them to attract customers worldwide. In turn, they require best-practice software to manage and measure their supply chain and customer data in order to meet shopper expectations and evolve quickly in a real-time marketplace.
"Brightpearl use is soaring in the U.S., in particular, with hundreds of independent retailers with greater than $1 million in annual revenue using our software and services to manage their retail business across e-commerce and brick-and-mortar channels. The total value of transactions we've processed for our U.S. customers has doubled during the last year," said James Scott, president, Brightpearl USA.
Spikeball Set to Take on Holiday 2015
Brightpearl U.S. customer Spikeball (featured on Shark Tank), an online retailer focused on introducing more people to the sport of roundnet, is well-prepared to manage sales that traditionally jump from hundreds to thousands of orders per day during peak seasons.
"Operating as manufacturer, distributor, and online retailer, we have consistently experienced growth rates that far exceed industry norms. In 2014 we reached an incredible milestone with $3.2M in revenue," said Scott Palmer, chief operating officer of Spikeball. "In comparison to companies of similar size, revenue, and volume, we're a small but highly efficient team of eight full-time employees. Thanks to Brightpearl, we can optimize inventory, increase efficiency and streamline order processing – accomplishing with one person what most companies need three-to-five employees to manage."
Using Brightpearl, Spikeball has a deep understanding of its inventory. In past years, this insight resulted in capturing a few hundred thousand dollars more in revenue that might otherwise have been lost to stock outs. With Brightpearl's real-time reporting, specifically daily sales by channel and customer, Spikeball has effectively scaled to customer demand.
Brightpearl's James Scott added, "Vibrant independent retailers are springing up everywhere with very focused product offerings, and for the first time they can access technology needed to compete with large brands and mega retailers. We find great success among retailers specializing in a narrow vertical, enabling them to avoid fierce competition in a race to the bottom on price. Many sell both locally through their physical stores and globally on multiple online channels, including their own website, eBay and Amazon. Once they can efficiently sell across different channels, they can compete with larger and better-known rivals and start to sell globally. This translates into impressive profits."
Brightpearl has dozens of case studies, spanning retail segments, which detail business impact and cost savings resulting from Brightpearl use.
Brightpearl is powerful-yet-simple retail and inventory management software that helps small- and medium-size retailers and wholesalers expand and compete with larger rivals by streamlining sales and supply chain functions across multiple online and offline channels. Brightpearl's cloud-based software and services enable multichannel merchants to manage the heart of their business by combining purchasing, inventory management, CRM, order processing, accounting, fulfillment, and reporting into a single reliable platform. Founded in 2007 with offices in the U.S. and UK, Brightpearl is used by more than 1,400 merchants around the world. For more information, visit www.brightpearl.com or @BrightpearlHQ.