E-commerce drives retail sales

Luxury retailers and e-commerce sites logged the best retail sales growth during March, pointing to growing momentum within the retail sector, according to a report released this week, states Reuters.

Sales of luxury items rose 22.7% in March, while online sales jumped 18.4%, its eight consecutive month of double digit growth, according to MasterCard Advisors' SpendingPulse, which estimates total retail sales across all payment forms.

The strong figures bode well for US retail chains, including Gap, Saks, and Target. In March 2009, e-commerce sales rose 10.8%.

Mobile electronic point-of-sale (ePOS) hardware systems are becoming increasingly prevalent in the Irish market, says The Post.

Handheld units allow for stock control from the shop floor rather than the warehouse, meaning not only efficient staff use but better stock control, leading to the ability to reduce in-store warehousing and open out more space to the retail floor.

"It allows you to stand at a shelf and see a product's sales history, stock levels across multiple stores and re-order from right there," says Niall Cannon, of ePOS outfit IT Providers.

Hosted Data Transaction Solutions (HDX) says it has completed the acquisition of A&A Point of Sales Solutions, according to CNW.

The purchase price was an aggregate of $450 000, subject to certain post-closing adjustments.

This consisted of $150 000 in cash and 465 120 common shares of HDX, at a price of $0.645 per common share which will be subject to a 36-month hold period.