Five Below supports store growth plans with tech investment

Count teen and tween extreme value retailer Five Below as a believer in brick-and-mortar stores.

Five Below has deployed a new in-store technology platform across its approximately 750 U.S. stores. The platform leverages leading-edge solutions to create a more personalized and streamlined customer experience.

For example, the new in-store framework includes a mobile platform that frees up associates from back-office functions, and allows them to focus on delivering one-on-one customer service. In addition, new POS, self-checkout and tablet-based solutions help create a seamless shopping environment that should appeal to Five Below’s constantly connected Millennial and Gen Z customer base. The platform is also designed to streamline other in-store processes, including employee training.

Working with retail management consulting firm Boston Retail Partners (BRP), Five Below completed rollout of the platform in 13 months. The implementation was focused on speed-to-market, delivery of an enhanced in-store experience to wow the customer, and tools to empower the entire store team.

“The Five Below leadership team wanted to support the company’s growth while providing a great customer experience, and working closely together, we executed the full replacement and deployment project flawlessly,” said Perry Kramer, senior VP and practice lead, BRP. “We designed, built and deployed a set of in-store tools and processes that are enabling Five Below to focus on continued growth. In addition, the new solution set provides the foundation to elevate the customer’s digital experience.”

Elevating the in-store digital experience is a key component of Five Below’s aggressive store expansion strategy, In September 2018, the retailer reaffirmed its 2,500-plus store potential. Five Below recently entered the Manhattan market with an 11,000-sq.-ft. outpost on Fifth Avenue, between 44th and 45th Streets.

Five Below’s success hinges on anticipating trends, and the continued popularity of brick-and-mortar stores is one trend the retailer is recognizing. According to the recent 2018 Global Consumer Survey from JDA Software and Centiro, in-store remains the most popular shopping experience in most surveyed countries (excepting China). A majority of respondents had used some form of emerging technology, including mobile, while shopping, boding well for Five Below’s omnichannel store experience push.

Five Below sells everything from smartphone accessories and Bluetooth speakers to fashion and beauty products to toys and candy — with all items priced at $5 or less.