E-commerce growth in 2020 has required brands and retailers to strengthen their digital offerings, in order to remain competitive. To achieve this, it is increasingly important that businesses partner with a capable solution provider that can provide the infrastructure for all their online operations. With its new acquisition of LS Retail, Aptos is aiming to better serve its retail customers by offering a more unified retail technology experience.
Aptos’ retail offerings cover both day-to-day operations, such point-of-sale technology and enterprise order management, with broader strategic oversight and analytics. Through its new acquisition, the company will also bring in-house the capabilities of LS Retail, ranging from inventory planning to supply chain management.
“As the global pandemic has driven increased demand for unified commerce solutions, this acquisition represents an opportunity for Aptos and LS Retail to join forces and help more customers around the world,” said Nikki Baird, VP of retail innovation at Aptos. “For both companies, the union increases our shared knowledge base and resources, extends our vertical capabilities and expands our geographic coverage.”
The announcement comes as businesses are rolling out their 2021 retail strategies and looking to build on the developments of last year, which frequently centered around e-commerce. The industry’s disruption revealed to many where the vulnerabilities were in their operations, priming them to look for new solutions.
As LS Retail is an Iceland-based company, with offices in Asia, Europe, the Middle East and North America, the acquisition enables Aptos to serve all global markets and cement its international reach. It also brings over 5,500 retail customers under one roof, which Aptos hopes will encourage greater resource sharing; through the collective understanding of best practices in a challenging retail environment, each customer will be better positioned for the 2021 market.
“Retailers are being forced to adapt to a new, digital-first world and are looking to accomplish digital transformation initiatives in months that would have normally taken years,” said Baird. “As part of this transformation, there is a distinct competitive advantage for retailers that partner with enterprise technology vendors that are fully focused on the needs of their industry.”
Baird described footwear brands and retailers as an ongoing priority focus for Aptos. This acquisition of LS Retail follows last year’s acquisition of Revionics, a pricing profitability tool.