Impact of Technology on the Retailing Business Essay

Impact of Technology on the Retailing Business Any sufficient advanced technology is indistinguishable from magic†, Arthur C. Clarke. Technology has changed the retailing business dramatically over the past 10 years. These changes have affected a number of areas in the retailing business. These areas include the equipment in the workplace, the policies in the workplace, the general environment, the ordering of supplies, and the record keeping of the business. One key area in the retailing business that technology has changed over the past 10 years is the different equipment that is used. Interviewee A said â€Å"The change has been quite good for business, we have gone from using a simple till, to using a computer database, which helps us†¦show more content†¦We never used to have a security system but today we do.† Interviewee B said â€Å"We used to have someone do gas level dips but now we don’t have to, so we got rid of that policy, and we now have a camera that needs the tape to be changed at certain times. We haven’t changed much in the past years.† Policies haven’t changed too much in the past years but other areas of the retailing business have. nbsp;nbsp;nbsp;nbsp;nbsp;Another area of the retailing business that has been affected by technology is the general environment of the business. Interview said â€Å"The business tends to change with what the fashion is We have used different lighting and some cool 3D fx on our walls for a new funky look.† Interviewee B said â€Å"We have changed our security from a simple lock, to a magnetic lock, a full range color camera, and magnetic tape. We have also got a Lotto machine which has helped increase business.† The general environment has been changed for the better by both types of retailing businesses. Technology has changed all areas of the retailing business but one area that has been completely changed has been the ordering supplies for a business. nbsp;nbsp;nbsp;nbsp;nbsp;The area of ordering supplies has been changed from the old paper system to a completely new system with computers and faxing. IntervieweeShow MoreRelatedInternational Marketing Research884 Words   |  3 Pagesfor a retailing firm entering a new country, it is important to identify the overall industry growth trends and upcoming market changes of that particular market and to consider the situation of the retailing industry at the international level. As the competition in the retail industry is growing, at the domestic as well as international level, there is a need for structural reform and change in the business model of the industry. It has been noted that the recent developments in technology, especiallyRead MoreIntegrating A Multi Billion Dollar Industry1531 Words   |  7 PagesDo you want to be apart of the fastest growing area in retailing? Do you want to be apart of a multi-billion dollar industry? Well, if anyone answered yes to both of the ques tions they can now joined the sweepstakes of taking their business to the next level by introducing Web based retailing or other nontraditional methods of retailing. Web, non-store based any other forms of nontraditional retailing is adding to businesses repertoire everyday. Any individual or company who sells products or giveRead MoreContextual Analysis of Uniqlo1001 Words   |  5 Pagescompany Fast Retailing Co. Ltd. Observe the strategy of UNIQLO, it base on SPA model which took place in the group’s structure and lead them to become the top brand in Asia during the downward spirals of global environment. * UNIQLO Business strategy To become one of the top clothing retailer in the competitive global markets. UNIQLO has refined its SPA (Specialty store retailer of Private label Apparel) business model (Global fashion Wire, 2011), encompassing all stages of the business – from designRead MoreImpact Of Online Shopping On Businesses1439 Words   |  6 PagesThis report examines a major issue that applies in Australian workforces. The issue is the impact of online shopping and what effects it has on businesses. According to Australian Bureau of Statistics, 43% of Australians use the internet to buy products and services . This states that the internet is changing consumer shopping habits fast, and most likely, forever. As reported by the National Retail Association, 50,000 people will lose their jobs due to internet shopping . These statistics will significantlyRead MoreA selective Annotated Bibliography on Convergence and Divergence1577 Words   |  7 Pages(1983). â€Å"The Globalization of Markets.† Harvard business review pg 92-102 The author asserts in this journal to understand the two vectors shape the world – technology and globalization. The first helps determine human preferences, the second, economic realities. The global companies systematically push these vectors toward their own convergence, offering everyone simultaneously high-quality, more or less standardized products at low prices. Technology is a powerful force that has driven the worldRead MoreE-marketplace, E-mall, E-tailing Essay1125 Words   |  5 Pagese-catalog, fulfillment technologies, and checkout and payment mechanisms) to provide the equivalent brick and mortar shopping tools. Types of Electronic Market Places: 1. Electronic Storefronts: A single companys website where products and services are sold. Example: Walmart 2. Electronic Malls: An Online Shopping Center where many online stores are located. 3. Market Place: An Online market, usually B2B where buyers and sellers negotiate. Electronic retailing is a form of electronicRead MoreThe Basics Of Omni Channel1288 Words   |  6 PagesPart II. The basics of Omni channel approach What is Omni-channel retailing? Dealing with wide range of channels through which business can interact with customer retailers have applied many concepts to achieve success and profitability. They optimized operations for each channel, which allowed to gain certain advantage in short-term. However, having independently managed channels within scope of operations of one organisation has proven to be rather ineffective approach – nowadays channels are notRead MorePest Analysis1204 Words   |  5 PagesTESCO S strategic options, Core Competences Cultural Web. IINTRODUCTION The food and drink retail sector represents the largest industry in the UK, providing employment for over three million people in primary production, manufacturing and retailing. In 2003 retail accounted for 9% of gross domestic product (Datamonitor, 2003). In recent years UK supermarkets have come under increased scrutiny over their treatment of suppliers, particularly of own-label products, yet the development of strategicRead MoreThe Impact of Malls on Small Retailers1496 Words   |  6 PagesRESEARCH PROPOSAL A STUDY ON THE IMPACT OF ORGANISED GROCERY RETAIL ON SMALL RETAILERS AT CHENNAI CITY INTRODUCTION There is a tremendous scope for India’s retail growth. — Mukesh Ambani, Chairman, Reliance Industries Limited Organized corporate retailing is poised to become the business of the decade in India. With 30% of the population under 30 years, consumerism has become the mantra of India’s youth. With that said, India’s retail sector is already transforming the lives of urban IndiansRead More7-Eleven Casestudy1026 Words   |  5 Pagesin the form of Ito-Yokado (the company’s Japanese Licensee). Ito-Yokado revamped the entire retailing approach of the company by introducing an innovative approach to retailing which, along with the aid of technologically advanced systems, significantly impacted 7-Eleven’s success. ANALYSIS Ito-Yokado’s innovative approach to retailing is known as â€Å"tanpin kanri† or â€Å"item-by-item management†, a business approach that revolves around the following: 1. Carefully tracking and paying attention to the