Travel in Style, Cash in on ETP Retail Software with the Luggage and Handbags Market on the Rise

The global luggage and handbags market size had reached US$ 16.2 Billion in 2021 and is expected to reach US$ 23.2 Billion by 2027, exhibiting a growth rate (CAGR) of 6.32% during 2022-2027. ETP has been helping several eminent luggage and handbag retailers across the Asia Pacific, India and Middle East regions to deliver value to their customers by creating amazing customer moments across channels.

Have you spoken to our Luggage & Handbags Retail Software Solutions expert yet?

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Business Benefits:

  • Capture additional attributes such as material, season and product group, and create colour/size matrix for articles
  • Provide visibility of sales and inventory across channels to replenish at SKU level
  • Manage end-of-season sale efficiently by introducing innovative promotions and increase ticket size
  • Enable real time KPIs’ information of store sales performance, hourly sales movement, customer conversions, target vs actuals, salesperson-wise performance
  • Manage cross promotions, bundle promotions and price-point based promotions to increase sales
  • Enable in-store mobility with a secure Mobile POS to service customers or setup small store formats
  • Avoid lost sales by providing ‘endless aisle’ capability in-store to service customers better
  • Manage product, price and promotions across multiple retail channels
  • Fulfill online/e-commerce orders from store inventory and allow for any store returns for both in-store and online purchases
  • Manage merchandise, time, location and customer hierarchies for planning category-wise and location based promotions

ETP has been helping several eminent luggage and handbag retailers across the Asia Pacific, India and Middle East regions to deliver value to their customers by creating amazing customer moments across channels. Have you spoken to our Luggage & Handbags Retail Software Solutions expert yet?

Talk to us: https://www.etpgroup.com/industries/luggage-and-handbags/

How to Keep Time in the Booming Watch Market for a Successful Future

Revenue in the Watches segment (timepieces) amounts to US$66.07bn in 2022. The market is projected to grow annually by 6.90% (CAGR 2022-2026). In 2022, 44% of sales in the Watches segment will be attributable to Luxury wrist watch segment. In global comparison, Asia Pacific is the fast growing market for timepieces.

Several lifestyle retailers in Asia Pacific, India and the Middle East have been adopting ETP Omni-channel Retail Software Solutions for efficiently running their timepieces business due to the specific and relevant benefits that ETP offers to the timepieces vertical.

Learn how ETP is doing this: https://www.etpgroup.com/industries/timepieces/

Business Benefits:

  • Capture additional attributes such dial size and strap material
  • Avoid fake inventory by tracking barcodes/serial nos. as well as warranty cards
  • Track customer buying behavior to enable cross-selling/up-selling across categories/brands/accessories of interest
  • Facilitate easy co-ordination with vendors and inventory tracking
  • Manage product, price and promotions across multiple retail channels
  • Enable in-store mobility with a secure Mobile POS to service customers or setup small store formats
  • Capture shop-in-shop sales for daily sales analysis and regular replenishments based on sell-throughs
  • Use ‘endless isle’ function to service orders based on nearby stores’ inventory and reduce lost sales
  • Have a single customer ID across all retail channels for registered customers and enable unified loyalty management
  • Fulfill online/e-commerce orders from store inventory and allow for any store returns for both in-store and online purchases

Unlock the Power of Retail

Revenue in the Health & Beauty market amounts to US$528.60bn in 2022. The market is expected to grow annually by 4.64% (CAGR 2022-2027). The market’s largest segment is the segment Personal Care with a market volume of US$238.60bn in 2022.

Manage your COCO, FOCO and FOFO stores as well as shop-in-shop outlets easily using ETP’s proven, All-in-1 retail POS and retail mobile POS solutions that enable you to have a single view of your customer and one version of truth of your inventory across online and offline channels. ETP V5 Retail Software has been enabling health & beauty retailers just like you in elevating retail performance to manage your cash flow better by tracking your sales and inventory real time. Learn more: https://www.etpgroup.com/industries/health-and-beauty/

Business Benefits:

  • Capture additional attributes such as certification no., valid till date, as well as handle batch no. and expiry date for items
  • Have enhanced CRM with a single customer ID across all retail channels to enable unified loyalty management
  • Enable real time KPIs’ information of store sales performance, hourly sales movement, customer conversions, target vs actuals, salesperson-wise performance
  • Avoid lost sales by providing ‘endless aisle’ capability in-store to service customers better
  • Manage product, price and promotions across multiple retail channels
  • Provide visibility of sales and inventory across channels to replenish at SKU level
  • Manage end-of-season sales, price points, mix & match and bundle based promotions and increase ticket size
  • Fulfill online/e-commerce orders from store inventory and allow for any store returns for both in-store and online purchases
  • Enhance customer experience by providing quality service and offering a seamless omni-channel shopping experience
  • Enable in-store mobility with a secure Mobile POS to service customers or setup small store formats

Maximizing Your Jewelry Retail Business

The lion’s share of the jewelry market revenue is attributed to China, followed closely by the United States and India. In 2022, the total global jewelry market was valued at approximately 270 billion U.S. dollars and is forecast to increase by more than 30 billion U.S. dollars to 307 billion dollars by 2026.

Jewelry retailers can grab a share of this massive growth by adopting the right retail software solutions. ETP V5 Retail Software has been enabling retailers just like you in elevating retail performance to facilitate cross-selling/up-selling and increase conversions on footfalls.

Learn more: https://www.etpgroup.com/industries/jewelry/

Benefits:

  • Increase sales during festivities by creating targeted promotions at category/sub category or even at SKU level and exercise control over pricing
  • Enhance customer experience by providing quality service and offering a seamless omni-channel shopping experience
  • Provide visibility of sales and inventory across channels to replenish at SKU level
  • Manage product, price and promotions across multiple retail channels
  • Fulfill online/e-commerce orders from store inventory and allow for any store returns for both, in-store and online purchases
  • Manage merchandise, time, location and customer hierarchies for planning category-wise and location based promotions
  • Avoid lost sales by providing ‘endless aisle’ capability in-store to service customers better
  • Enable in-store mobility with a secure Mobile POS to service customers faster and also perform queue bursting
  • Manage inventory at SKU level as well as track sales, inventory and delivery for smooth flow of products, especially for high value products
  • Track each individual piece based on a serial number and capture additional attributes such weight, carats and material

Significance of Frictionless Payment Systems Integration for Retailers

Significance of Frictions Payment

The retail industry wants to be rid of all speed bumps when it comes to paying. Frictionless payments, which are data-driven methods of payment integrate data from various devices, apps, and websites to simplify the purchasing process. This reduces the steps in both online and offline buying to minimise churn and shopping cart abandonment. Checkouts need to be quick and waiting time in the payment queue has to be minimal. For this, transaction processes has to be easy, expedited, and effortless. Key tools for frictionless shopping include mobile and digital wallets, contactless card payments, device-initiated payments, in-app and one-click payments, and auto-renewing subscriptions.

Replacing the traditional checkout experience, frictionless payments have become the default way for consumers to pay for goods and services. From mobile wallets and mobile apps to one-tap contactless card payments, customers now expect a fully frictionless payment experience as they benefit from a quick, smooth, and stress-free checkout experience. At the same time, businesses experience increased levels of customer satisfaction and lower cart abandonment rates. To stay competitive, retailers need to adopt a robust frictionless payment strategy and system. You will always be at risk of losing your customers to a competitor who proffers them a variety of frictionless payment options if you don’t do that already.

The international marketing statistics portal, Statista, estimates frictionless payment technology will grow to $8 trillion by 2024.

Types of Frictionless Payments:

Mobile wallets and digital wallets

Mobile wallets and digital wallets are often used interchangeably. Fact is, these two forms of frictionless mobile payments do differ in the way they’re applied.
Mobile wallets are mostly used by consumers who do not prefer carrying a physical wallet during in-store purchases, whereas digital wallets are mainly used for online transactions. As an example, popular digital wallets such as Google Pay and Apple Pay when used alongside mobile payment services and devices (i.e. POS terminal), they are defined as a mobile wallet due to the added in-store functionality.
Digital wallets are used through third-party smartphone apps and ensure that all your payment details are stored in one place. These apps protect consumers’ data via passwords and encryption (also known as payment tokenization), making online payments fast and secure.

Mobile payment applications

Mobile payment apps are one of the other most-used forms of frictionless mobile payments. Mobile payment applications are frequently used as a form of mobile wallet for easier in-store purchases. But there are other mobile applications, too.

Near Field Communication (NFC)

Near Field Communication (NFC) is a wholly contactless communication technology that is based on a radio frequency field that permits the exchange of data between two or more devices via touch. Tap to pay is a perfect example of this. This technology is used as a way for consumers to complete one-click and device-initiated payments in-store. It is often used in conjunction with mobile wallets.

Contactless cards

Contactless cards are a frictionless payment method that offer a safer, faster in-person checkout experience. As an off-shoot of NFC, contactless cards use short-range wireless NFC technology to make paying by card completely contactless.

Common methods of contactless card integration that you can use include:

Mobile point of sale terminals (mPOS)

  • Pay By Link
  • Digital and mobile wallets
  • Buy online, pick up in-store (BOPIS)
  • Contactless credit cards

If you have a brick-and-mortar business, you can position yourself competitively by incorporating contactless cards into your existing payments infrastructure.

Benefits of implementing a frictionless payment strategy

There are a host of reasons to move towards a frictionless payment strategy from both a buyer’s and a seller’s point of view.

Benefits to the buyer include:

  • Eliminating lengthy checkout waiting times.
  • Reducing the number of steps to complete checkout.
  • Reducing stress at checkout (no credit card details or PINs required).
  • Offering flexibility of payment options.
  • Delivering enhanced security both online and on-premises. Mobile payments often require biometric authentication measures making them even more secure than chip and PIN transactions.

Benefits to the seller include:

  • Lower cart abandonment rates. The easier it is to pay, the more likely customers will stay at checkout.
  • Increased efficiency at checkout.
  • Greater customer satisfaction rates and increased customer loyalty.
  • A reduction in failed payments, easing cash flow concerns.

Secure your payment card data at the point-of-sale

Securing your customer’s payment data during checkout irrespective of the type of frictionless payment option provided or chosen is of utmost importance. Data security experts are saying that luxury and lifestyle retailers need to upgrade their cyber security measures. In India alone, the retail industry recorded 4,805 weekly instances of stolen credit card information in the last six months of 2022 compared to 1,485 such weekly attacks in the first half of the year, according to the Check Point Threat Intelligence Report. Several mid and large-size lifestyle retailers work on dated legacy systems, which are difficult to upgrade to newer technologies. The lack of skilled talent to handle complex payment security systems is also a concern. Measures like automated curation, using multi-factor authentication, and regularly updating security patches must be explored more, the report adds. Dealing with cyber conflict requires a holistic approach to protect against hacking, identity theft, and ransomware.

ETP Omni-channel POS software is flexible enough to seamlessly and easily integrate with various 3P payment applications while ensuring that all sensitive cardholder authentication data is secure. Being compliant with the security standards, we make it easier for our customers around the world to apply for PCI PA-DSS certification, where the use of compliant software solutions is a key element of demonstrating their ability to protect sensitive card data as well as elevating retail performance and customer experience with your brand.

Meet us at the Retail Leadership Summit 2023, Mumbai

Technologically, the pandemic was an eye-opening experience for retail businesses and professionals. With in-person events becoming the norm once again for networking and knowledge sharing, Retailers Association of India (RAI), the apex body for the retail industry in India, with the first of its two premier events – Retail Leadership Summit (RLS), is leading from the front in offering leading retailers a platform to shake hands and exchange ideas with retail technology experts as well as among themselves.

The RLS brings together all the stakeholders of retail for effective conversations on the way forward and hence, has come to be known as a premier knowledge sharing platform where some of the sharpest minds in retail convene to exchange ideas, share insights and deliberate on major, upcoming transformations in retail.

ETP has been the Omni-channel Retail Technology Partner at several Retail Leadership Summits in the near past. This year too, ETP is the Retail Technology Partner at RLS 2023. At the event, #TeamETP will be present in full gusto on both the days (22nd and 23rd February 2023) to share progressive and collaborative thoughts on Elevating Retail Performance.

Consumer Electronics has become Smart. How to sell it with improved margins smartly?

Consumer electronics are electronic equipment meant for non-commercial use. Consumer electronics include devices such as computers, laptops, mobile devices, smart wearables, television sets, refrigerators, smartphones, and home appliances that provide one or more functionalities to make day-to-day living easier and comfortable.
Revenue in the Consumer Electronics market amounts to US$1,062.00bn in 2022. The market is expected to grow annually by 2.51% (CAGR 2022-2027).

This is one of the fastest-growing industries attributed to the emergence of new technologies. Rapid advancements in technology to cater to consumer demands is creating market opportunities during the forecast period. The market trend of integrating microLED technology into televisions for high-resolution density is augmenting the market expansion. Prominent market leaders including LG, Sony, Samsung, and others have launched microLED TVs for commercial and residential uses.

Continuous and aggressive investments by market players in R&D for the development of new consumer electronic products with enhanced features have fuelled the industry growth of consumer electronics. Rapidly increasing internet penetration across the globe drives the market growth furthermore.

Rising preference for smart homes supports the adoption of audio & video equipment. Proliferation of smartphones and growing preference for smart homes augments the demand for audio & video equipment. The integration of consumer electronics, such as speakers, and earphones, with voice assistant equipment, will provide a positive market outlook. In addition, product upgrades and new product launches by several consumer electronics companies to increase consumer experience are also driving the industry progression. The personal application segment is anticipated to witness a 9% growth rate by 2027 on account of the growing spending capacity on discretionary products due to rising income. Falling prices of personal consumer electronics, such as Bluetooth speakers, earphones, smartphones, and smart wearables are coercing the industry demand for these products.
After North America, the Asia-Pacific region generates the most revenue in the electronics segment. Asia Pacific consumer electronics market size was over USD 400 billion in 2020. Growing urbanization and rising disposable income in the region are propelling the usage of consumer electronics in high and middle-income households. The emergence of new regional manufacturers and the adoption of low pricing strategies by several manufacturers is driving this regional growth. Furthermore, rising technological awareness among the youth population regarding the latest features and functionalities in electronics is also fuelling the demand in this market.

Short product lifecycles and the availability of counterfeit products pose significant challenges to the market progression. The rapidly changing technological landscape is encouraging consumers to adopt new gadgets integrated with the latest technologies. To identify original and counterfeit electronic products accurately, the industry relies heavily on capturing attributes such as batch number, serial number and material.

The retail POS software should be capable of handling these attributes efficiently and with ease. Besides this, there are several other important points to watch out for while investing in a POS software and inventory management solution. To name a few, the retail software being used should be able to –

  • Provide buy back option to customers and support businesses with cash & carry as well home delivery options
  • Enable near real-time inventory tracking for faster replenishments and support omni-channel retailing
  • Track customer buying behavior to enable cross-selling/up-selling across categories/brands/accessories of interest
  • Extend the options of ‘click & collect’, ‘click & deliver’ or ‘endless aisle’ to customers
  • Enable in-store mobility with a secure Mobile POS to service customers or setup small store formats
  • Capture ‘shop-in-shop’ sales for daily sales analysis and regular replenishments based on sell-throughs
  • Enable collection of advances for orders that can be delivered later
  • Manage product, price and promotions across multiple retail channels
  • Fulfill online/e-commerce orders from store inventory and allow for any store returns for both in-store and online purchases

ETP has been helping several eminent Electronics retailers across the region to offer all the above mentioned benefits and deliver amazing customer moments to their customers. If you are an electronics brand or retailer and would like to speed up your growth in the next 5 years and beyond, speak with our Retail Software Solutions expert to help you expand your electronics retail business today.

Talk to us: https://www.etpgroup.com/industries/electronics/

Are Sports Goods & Athleisure Retailers Scoring it Right with their Customers?

The global sporting equipment and athleisurewear market size was valued at USD 170.94 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% to $267.61 billion in 2028. The increased passion for sports and outdoor recreational activities among the world’s young population is predicted to fuel the demand for athleisure gear over the forecast period. One of the primary aspects driving this trend is a rise in consumer fitness and health consciousness, which is generating the demand for comfortable and fashionable clothes.

Wellness has progressed from a niche lifestyle choice to a new status symbol and expression of personal beliefs that transcends many industries, from luxury travel to high-end beauty and fitness. Luxury fashion has been significantly affected by streetwear athleisure trends, which are motivated by current consumers’ need to mix comfort and style. To tap into the booming athletic sector, luxury labels are launching new sporting items ranging from sneakers to leggings and gym accessories. More luxury fashion options that are both comfortable and stylish are desired by today’s consumers.

Ever since the pandemic spread across the globe, consumers have become more concerned about their health and are adopting healthy life habits. Thus, with lockdown measures in place, yoga studios, gyms, health clubs, and other settings where in-person group sessions used to took place were shut down or temporarily closed, which encouraged fitness enthusiasts to take up online base home classes. This increased the demand for activewear apparel.

Manufacturers are launching new products made using strong, durable, and quality materials. The availability of such sports apparel with enhanced properties including temperature control, moisture management, and other performance-boosting characteristics that prevent potential injury and discomfort has captured consumers’ interest. With all of these unique features, consumers are willing to pay more for such additional benefits. This, in turn, has propelled consumer habits to wear athletic apparel during their leisure period.

An increasing number of women taking membership in sports activities and growing participation in fitness clubs are also contributing to the growth of the market. Leggings form an essential component of athleisure wear today, since they are multi-purpose and can be easily worn as activewear as well as casual wear. Over the forecast period, leggings are projected to register a CAGR of 8.6%.

With more people are working from home than ever before and not having to dress up for work, consumers are mostly preferring to work in sweats, pajamas, and athleisure. Since the start of the COVID-19 pandemic, 14% of consumers have purchased comfortable clothing, such as pajamas or athleisure.

In terms of distribution and deliveries, the offline segment dominated the market and held a revenue share of over 60.0% in 2021. The online segment is projected to expand at the highest CAGR from 2022 to 2030. The fashion business is undergoing seismic shifts as a result of digital innovation, increased globalization, and changes in consumer buying habits. Businesses are making use of online purchasing and the ease of social media marketing to create celebrity collaborations that can aid a brand’s discoverability as celebrities frequently share products on social media channels.

Retailers in this segment experience that a delay in shipment of goods is the primary reason for a decrease in sales. The rising number of counterfeit products in footwear, clothing, and others is hampering market growth in this segment.

ETP Group has been enabling several major Sports Goods and Atheleisurewear retailers in the Asia Pacific region to delight their customers with a higher order fulfilment percentage and have a higher inventory turnaround with real-time inventory sync across channels.

Learn more how ETP is doing this: https://www.etpgroup.com/industries/sports-goods/

Following are some of the benefits ETP has repeatedly delivered to the sports goods and athleisure industry:

  • End-to-end integrated solution from online to offline that provides an improved brand and shopping experience to customers.
  • Promotions management tool helps in swiftly rolling out new promotions to stores centrally & helps improve sales. Seamless promotions customer experience online & offline.
  • Integration with legacy ERP systems ensures smooth and hassle-free flow of information to stores & back to the Finance & BI system.
  • Real-time inventory visibility across all stores.
  • Automated payment gateway integrations at store leading for higher accuracy of transactions & faster checkouts.
  • Offering a true omni-channel experience to customers in terms of Click & Collect, Click & Deliver and Endless Aisle. This improves brand position and leads to increased sales.
  • Drive footfalls to offline stores and upsell leading to increased sales.
  • Optimal utilization of inventory across channels helps increase margins.
  • Improved customer relationship management leading to insights into customer buying behavior & pattern and increased sales opportunities.
  • Building a loyal customer database leading to a strong foundation for continued sales growth.

ETP Tigers wins ETP Premier League 2022


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ETP Premier League 2022

Cheers to a day well spent!

ETP International had organised the ETP Premier League 2022 – a box cricket tournament, for its employees on Saturday, 26 November 2022. Taking a break from routine work, #teamETP celebrated the day together discovering hidden cricketing talent while putting on some fantastic displays of top-quality cricket, excellent team bonding, and spot-on sportsmanship. The team put in the same passion and integrity into the games as they do in their work.

All Team

Each of the 6 participating teams – Group A: ETP Indians, ETP Tigers, and ETP Royals; and, Group B: Ordazzle Daredevils, Ordazzle Super Kings, and Ordazzle Knight Riders – competed with the other 2 teams in their respective groups to qualify for the semi-finals. ETP Tigers knocked out Ordazzle Knight Riders in semi-final 1 while Ordazzle Super Kings triumphed over ETP Royals in the other semi-final to qualify for a chance to win the coveted ETP Premier League 2022 trophy.

Congratulations to team ETP Tigers that overcame tense moments during the Final and pipped team Ordazzle Super Kings in the end to win the prized winner’s cup.

The prize recipients were as under: –

6) Winning Team – ETP Tigers7) Runner up Team – Ordazzle Super KingsAll winners

 

All the winners:

  • Best Bowler – Pankaj Sharma, ETP Royals
  • Best Batsman – Satish Bhate, Ordazzle Super Kings
  • Best Fielder – Sohel Khan, Ordazzle Super Kings
  • Woman Player of the Series – Dhanashree Parab, , Ordazzle Knight Riders
  • Man of the Series – Bhavesh Doshi, ETP Tigers

A big kudos to all the participants and the organising committee as well as those who were present at the venue to cheer their colleagues and friends. Thank you Raj Jagasia, Executive Director, ETP Group for coming out to support the teams and present the trophies. A huge shout-out to the ETP HR and Admin teams that helped set-up and execute this league so perfectly. Thank you to the ETP Pune and ETP Hyderabad team members – who showed great enthusiasm and energy on that day in participating and giving their 100% during the matches.

Gratitude to our Management Team Naresh Ahuja – for arranging the fun-filled event that let the ETP family meet and mingle with each other strengthening our team bond more than ever!


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With the right retail POS software, creating amazing customer moments is a DIY thing!

The Building Materials and Do-It-Yourself (DIY) market is projected to grow by a CAGR greater than 3% by the end of 2026 with Asia Pacific being the fast growing region across the world.

This market is segmented by:

  1. Geographies – Asia-Pacific, Middle-East, Africa, Europe, North America, and South America
  2. Product type – Lumber and landscape management, décor and indoor garden, kitchen, painting and wallpaper, tools and hardware, building materials, lighting, plumbing and equipment, flooring, repair and replacement, and electrical work
  3. Distribution channels – DIY home improvement stores, specialty stores, online, furniture, and other physical stores

The DIY home improvement retailing vertical has observed a remarkable growth ever since the COVID-19 pandemic.

DIY enthusiasts across the world have been devoting time to complete home improvement projects on their own as skilled labour required for such activities has not been accessible for much of the time due to repeated lockdowns and persistent coronavirus cases. Majority of the DIY retailers are engaged in gardening practices to enliven the customers’ living spaces and keep them entertained during the lockdown situations. Such factors are driving the demand for DIY products and materials further up.

Do it yourself (DIY) is an umbrella term that mainly refers to the act of designing and modifying any project yourself. This practice allows customers to develop spectacular projects on their own without seeking professional help. The market’s target products are home improvement tools, equipment, and appliances that are used in building maintenance, plumbing and other home improvement jobs. Lifestyle changes have triggered interest in DIY interior design. In addition, the growing population of working women in developing regions and their participation in decision-making about home decor is also leading to an increase in the sales of DIY home improvement products. Using do-it-yourself products reduces long-term costs compared to outsourcing the work to expensive even if, skilled labour.

Every building materials and DIY home improvement retailing business needs:

  • A comprehensive system to manage growing volumes and regional price differences
  • Ease in data collection and processing, and access to real-time information and reports
  • A solution for creating easy-to-deploy promotions
  • A faster POS system to serve large volumes and manage thousands of SKUs
  • Intuitive enterprise CRM programming and analytics

ETP International has repeatedly delivered the following benefits to its DIY Retailing clients with stores across Philippines, Malaysia, Singapore, Indonesia, India, and the Middle East:

  • ETP Store solution integrated with the ERP system, warehouse processes, supply chain, and finance departments
  • End-to-end visibility and quick access to stock and sales information
  • Proven ability to manage high volume of traffic at the stores
  • Flexible centralized solution design that facilitates home delivery from the store or warehouse
  • Inventory data access and action – online/offline on real-time basis
  • Integration with the promotion engine for defining and executing promotions real-time based on the location, time, customer and merchandise
  • Users can create reports as per their requirements and group-level permissions and not be dependent on a standard set of reports

Talk to us today for more information on DIY Retailing Software Solutions: contactus@etpgroup.com