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

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

  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

Business Wire

FRAMINGHAM, Mass. -- April 03, 2013

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

Contact:

Racepoint Group
Samantha Porter, 617-624-3226
sporter@racepointgroup.com
 
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