The NextGen installation process first involves configuring prices sensitive to a store’s market in consultation with the owner(s).
The prices set for stores using NextGen’s suggested pricing system vary, much more so for the women’s stores than children’s and much more so for the high priced designer brands than the lesser mall and bargain brands. The primary reasons: 1) demographics or more specifically client disposable income, and 2) competition. Women’s shops serving well-heeled customers and with limited competition from large discounters and resale shops are able to charge higher prices than those located in lesser income markets with nearby competition.
In the case of women’s stores, NextGen’s prices are informed by the pricing/sales experience of stores in high to low family income areas and high to low competitive markets across North America. In the case of new women’s stores with no sales history, NextGen sets prices based on the new store’s market demographics and competition. In the case of women’s stores with a pricing/sales history, NextGen analyzes their pricing/sales history relative to the histories of stores in like markets in order to identify pricing potentials. Owners generally opt to move to these prices immediately though sometimes gradually so as not to alarm longstanding customers.
In the case of children’s stores, NextGen uses one set of prices for stores whose trade includes very low end bargain brands (e.g. Jumping beans, Cat & Jack), and another for stores not so inclusive.
In the case of Stores located in Canada, pirces are adjusted upward to reflect the current US/Candian exchange rate.Given the magnitude of the current exchange rate
In the case of NextGen Portal users, once the prices have been configured, they are entered into the Owner Portal, and the Owner is provided the ID and Password needed to enter and utilize their pricing portal. At the same time, owner(s) are provided with the information needed to export their seller/consignor and portal buying/pricing transactions for subsequent import to their Point of Sale (POS) Systems.
In the case of Liberty POS system users, owners are asked to schedule a remote Pricing System installation and provide NextGen with the Liberty ID and password needed to access and install the pricing system in Liberty.
Training typically follows installation, immediately or soon thereafter.