PFSweb Announces Contract Extension for Omnichannel RetailConnect Product

Rhea-AI Summary

PFSweb, Inc. (NASDAQ: PFSW) has extended its contract with an international apparel client to enhance its RetailConnect product across over 30 U.S. stores. Following initial deployment in 2020, the expansion will deploy 50 units by Q2 2021 to improve omnichannel efficiency and facilitate online order fulfillment. This upgrade includes replacing the existing omnichannel software with PFS's distributed order management technology. CEO Mike Willoughby emphasized the importance of adapting to increased eCommerce demand.

Positive

• Contract extension with a major client indicating strong business relationships.
• Expansion of the RetailConnect product to over 30 stores to support increased demand.
• Deployment of advanced distributed order management technology to enhance operational efficiency.

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• None.

ALLEN, Texas, March 31, 2021 (GLOBE NEWSWIRE) -- PFS, the operations business unit of PFSweb, Inc. (NASDAQ: PFSW), a global commerce services company, announced today a contract extension with an existing international apparel client, to expand PFS’ omnichannel RetailConnect™ product into more than 30 stores in the United States.

This announcement comes on the heels of the previously announced initial deployment for the 2020 holiday season. The first store went live with RetailConnect in early November 2020, initially supporting ship from store activity and then followed by BOPIS functionality. To date, six stores have gone live resulting in more than 20,000 orders fulfilled through March 26, 2021.

The current expansion includes deploying 50 RetailConnect units across more than 30 stores by the end of Q2 2021. Select stores with expected higher order volumes will be equipped with multiple RetailConnect units to accommodate the demand. The units will create a more efficient omnichannel process and open up gift and customization options to be fulfilled out of the stores. In addition, the brand is replacing its existing omnichannel software with PFS’ distributed order management (DOM) technology for all its U.S. omnichannel-enabled stores.

“This exciting announcement is an example of PFS’ innovation capabilities and commitment to solve eCommerce fulfillment challenges for our clients. RetailConnect is a unique product in the industry due to its technology driven pick/pack/ship process and creating an easy-to-use system for store associates. We are thrilled to continue building on the success of the initial RetailConnect launch last year and help this client achieve their omnichannel goals,” commented Mike Willoughby, CEO of PFSweb. “As elevated eCommerce volumes continue, it’s imperative that brands and retailers evaluate their omnichannel processes to gain efficiencies and fully utilize their store footprints to support their online channel.”

About PFSweb, Inc.
PFSweb (NASDAQ: PFSW) is a global commerce services company that manages the online customer shopping experience on behalf of major branded manufacturers and retailers. Across two business units – LiveArea for data-driven marketing and omnichannel experience design through technology selection, platform implementation and orchestrated services, and PFS for order fulfillment, contact center, payment processing/fraud management, and order management services – they provide solutions to a broad range of Fortune 500^® companies and household brand names such as Procter & Gamble, L’Oréal USA, ASICS, Pandora, Ralph Lauren, Shiseido Americas, the United States Mint, and many more. PFSweb enables these brands to provide a more convenient and brand-centric online shopping experience through both traditional and online business channels. The company is headquartered in Allen, TX with additional locations around the globe. For more information, visit www.pfsweb.com.

Media Relations:
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Investor Relations:
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Gateway Investor Relations
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PFSW@gatewayir.com

FAQ

What is the significance of PFSweb's contract extension announced on March 31, 2021?

The contract extension allows PFSweb to expand its RetailConnect product into more than 30 U.S. stores, enhancing their omnichannel capabilities.

How many RetailConnect units will PFSweb deploy by Q2 2021?

PFSweb plans to deploy 50 RetailConnect units across more than 30 stores by the end of Q2 2021.

What technology is PFSweb replacing in its stores?

PFSweb is replacing the existing omnichannel software with its distributed order management technology.

What outcomes have been achieved from the initial RetailConnect deployment?

Since the initial deployment, six stores have fulfilled over 20,000 orders through the RetailConnect system.

How does RetailConnect improve PFSweb's operations?

RetailConnect enables a more efficient pick/pack/ship process, supporting the rising eCommerce volume.