Retailing and technology

Presented by:
Bharath
Babu
Akhil
Meghana
Pavan
 Objective of this study
• To understand different technologies that are
implemented in retail stores.
• To analyze the effectiveness of technology in
success of retailer.
Retailing
• Retailing refers to a process where the retailer sells the
goods directly to the end user for the own consumption
in small quantity.
• Types
Departmental stores
Super market
Warehouse stores
Mom and pop stores
Specialty stores
Malls
Dollar stores
Retailing transactions
• Retail is the sale of goods to end users, not for
resale, but for use and consumption by the
purchaser. The retail transaction is at the end
of the chain. Manufacturers sell large
quantities of products to retailers, and
retailers attempt to sell those same quantities
of products to consumers
Why Retail Technology

• Point of Sale
• Customer Service
• Management of Inventory
• Price Auditing
Most Important Retail Technologies
• Point of Sale (POS) and Inventory Control
Software
• Customer Relationship Management (CRM)
Software
• Bar Code Scanning and UPC Codes
• Electronic Data Interchange (EDI)
• Retail Accounting Software
Cont:
• Store Traffic Counters
• Graphics Design Software
• Websites & Shopping Carts
• Payroll Software
• Portable Data Terminals (PDT) and Hand Held
Computers
 Trends in retailing technology
• Retail tech trend 1: High degree of
personalization
• Retail tech trend 2: Voice technology
• Retail tech trend 3: Artificial intelligence
• Retail tech trend 4: Mobile
• Retail tech trend 5: The Internet of Things
The retail industry faces many specific
challenges related to IT management,
including:

• Customer data
• Transparency and tracking
• Global data synchronization
• PCI Security Compliance
Some of technology in retailing
Bar code scanner

 Details regarding inventory of goods sold.

 Automatic update and reordering of stock.
 Reliable and faster data gathering.
 Easy accessible to information.
 Cost effective reduce labor cost
E-retailing

• Cater global market base of customers.

• High brand recognition.
• Digitalized format.
• Avoid direct cost for catalogs
• Ability to react quickly to changes of customer
taste and demand.
Radio frequency identification- RFID
• Automatic identification method.
• Stores and retrieves data using tags or
transponder.
• Can be attached or incorporated.
• Contains silicon chips or antennas.
• Received and respond to radio frequency
queries from transceive.
ERP - enterprise resource planning
• Distribution process management
• Supply chain management
• Services knowledge base
• Configure prices
• Improve accuracy of financial data
• Facilitate better project planning
• Automate the employee life-cycle
• Standardize critical business procedures
• Reduce redundant tasks
• Assess business needs
• Accounting and financial applications
• Lower purchasing costs
• Manage human resources and payroll