News

Showroom Technology acquires Innovative Retail Systems

May 25, 2004

RESTON, Virginia-Showroom Technology, Inc. announced the official launch of its business with the acquisition of Innovative Retail Systems, Inc. according to a company release.

Showroom Technology plans to significantly expand on progress made by Innovative Retail Systems 360° Retail™ solution, designed for retailers who sell high margin goods through retail showrooms.

Showroom Technology plans to leverage Innovative Retail Systems' recent customer wins, proprietary technology, strategic partnerships, and first-mover 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 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.