Online sales grew by more than 30% in the fourth quarter, but store sales slid by 6.1% year over year.
Products sold at retail using scan-based trading systems from viaLink are growing at more than 30% a month, viaLink says. Retailers use scan-based trading to report product data to vendors as well as for inventory management and marketing purposes.
The retail industry continues to process more sales through scan-based trading, a system that captures data at the point of sale for purposes such as marketing, inventory management and paying supplier invoices, reports viaLink Co.
ViaLink notes that the number of products sold at retail using its scan-based trading service, trademarked sbtLink, is growing at an average compound monthly rate of more than 30%. Retailers can use the Internet to combine scan data with other data and to communicate data to trading partners.
"The rapid growth in sales volume and store-supplier connections reflects the deployment of scan based trading as an accepted industry process," said Bob Noe, viaLink`s president of CPG and Retail. "The rate of growth should continue to accelerate as our retailers move beyond their initial sbtLink-enabled trading relationships."
Dallas-based viaLink says its sbtLink service provides retail suppliers with a way to actively participate in a variety of business processes related to scan-based trading, such as vendor-managed inventory or product promotions, with both viaLink customer retailers and non-viaLink retailers.