Stein Mart launches ‘renovated’ POS system, mobile app for associates

Dive Brief:

Stein Mart has equipped store associates with Apple iPads to enhance the customer shopping experience, according to a company release. Associates can use their tablets to provide mobile checkout and endless aisle shopping features.
The discount retailer is using Mad Mobile's Concierge app to equip associates with added capability. "Concierge enabled us to upgrade our legacy point-of-sale systems to meet the needs of today's shopper," Stein Mart Chief Information Office Sharon Hart said. "By renovating our POS, instead of replacing it, we saved significant costs and minimized operational risk," Hart added.
In its announcement, Stein Mart reported higher average order amounts for transactions using the Concierge program, and has seen a boost in enrollment for its private-label credit card.

Dive Insight:

Retailers continue to implement features that make in-store shopping a more attractive task, and Stein Mart is no exception. The Concierge app allows associates to engage with shoppers and prevent pain points — like checkout lines or not finding an item in stock — before they occur. Earlier this year, Stein Mart added self-service Amazon Hub Lockers in 200 of its stores to allow users to pick up orders from the e-commerce giant during Stein Mart's hours. Both contribute to a vision of convenience for Stein Mart customers.

The chain is not without its financial difficulties, however. Nasdaq told Stein Mart last month that it was at risk of being delisted; the retailer has until January of 2020 to regain compliance. CEO Hunt Hawkins blamed poor Q1 2019 performance on weather in the southern and western United States after the company saw profit drop 45% from the year prior. In addition, Stein Mart was given a FRISK score of 2 by CreditRiskMonitor, which measures the risk of a retailer filing for bankruptcy in the next 12 months, in March (with a score of one being the highest risk).

But despite its struggles, Stein Mart continues to hold on. The retailer introduced a new loyalty program and opened 10 new stores in 2017, after struggling to manage its inventory and maintain sales progress in prior years. Stein Mart also entertained "strategic alternatives" in January 2018, but has maintained roughly the same number of stores since that time.

Stein Mart operates 283 stores in 30 states. Other Mad Mobile Concierge retailers include Anthropologie, Brooks Brothers, Ralph Lauren and Urban Outfitters.