“The role of technology in organized retail”
Over the years as the consumer demand increased and the retailers geared up to meet this increase, technology evolved rapidly to support this growth .The hardware and software tools that have now become almost essential for retailing.
The need for making information available in real time, need to manage the cost of inventory, need for product identification, need for quick billing, all of this is possible because of technology used by the organization. It not only help in managing the stock or d product but also helps in managing the customer relationship with the use of loyalty programs and managing supply chain.
Technology provide right data, in right form to the right set of people at the right time which is very beneficial for the retailer also customer feel valued as his/her work get finished in very short span of time as, a person manually billing a customer for purchases made will take longer time as compared to a person who just need to scan the item at the point of sale system with help of scanner or barcode reader saves the time not only of the customer but also of the retailer. Technology also help in avoiding error made at the time of calculating, it helps in reduces the cost involved in paper handling, filing, storage and mailing. It is also one of the easy ways to track changes in customer demand and the supply of goods, as consumer loyalty to a retail store cannot be taken for granted.
Example: Wal-Mart, they use best technology to delight their costumers which enhance their sales, revenue and brand name.
Therefore technology plays very important role in organized retail. In short we can say that without technology organized retail cannot works properly.
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