Transcript of Industry analysis retail
- 1. Industry Analysis-Retail Presentation by: Kimberly Gilmer,
Jessica Delong, Holly Lash & Keerthika Pushpagarajan PowerPoint
prepared by: Gloria Tolson
- 2. Retail: Online and In-Store Rise of online shopping (Amazon,
etc.) Pros: Convenience, cheaper Cons: Do not always know what you
are getting Does not mean that in-store shopping has disappeared
(Ex: clothing, grocery) Technology needed to complete with
on-line
- 3. In-Store Advances Technology has affected even retail
Computerized point-of-sale inventory systems Bar code tracks sales
of merchandise Real-time tracking Fastest checkout and keep track
of when to reorder/restock Increase customer satisfaction
Self-check out in grocery stores Decrease in time and labor costs
Radio Frequency Identification Tags (RFID)
- 4. How can technology help brick-and-mortar retailers complete
with e-retailers? Actual stores given technological features that
improve the shopping experience RFID Tags Hand-held devices Payment
by mobile phone through Applepay, bank or gift card How does this
technology help stores? Makes shopping a smoother process Greater
efficiency in terms of inventory Gives workers more info to assist
customers Customers can integrate their mobile devices into the
shopping process
- 5. Radio Frequency Identification (RFID) What is it? Technology
that is uses radio frequency signals to automatically identify
objects. RFID has opened the doors to a new era of SCM in retail
management Successful Attributes of RFID Automatic Scanning Labor
reduction Asset Tracking Accuracy of Tracking and Warranties
Inventory Management Information Properties
- 6. One Concern of RFID Technology Privacy Neglects addressing
consumer privacy What can retailers do to alleviate this concern?
Stores can steer away from having a database that stores personal
information on a customer Greater restrictions on providing
information on a particular product without having customers key in
their information.
- 7. What can brick-and-mortar stores do to avoid becoming to
sterile against e-tailors? Customer Service is Key! Store
associates MUST make the customer feel welcome and do whatever they
can to assist in their shopping experience. 76% of shoppers
reported purchasing more based on what was recommended to them by
sales associates
- 8. Customer Service & the Store Experience How can a store
improve customer Service Greeting customers Sales floor assistance
Fitting room assistance Refreshments Sales and Promotions Proper
training Merchandising and Store Stores must be inviting to
customers and should offer an experience How can the store improve
the store experience? Cleanliness Appealing store displays Store
Inventory Allow for experience of product
- 9. References Valacich, J., & Schneider C. (2014).
Information Systems Today: Managing in the Digital World (Sixth
Edition). Upper Saddle River: Pearson Jenkins, B. (2014, December
9). Adding the personal touch to brick-and- mortar stores.
Retrieved March 20, 2015, from
http://www.retailtechnology.co.uk/news/5568/adding-the-personal-touch-
to-brick-and-mortar-stores/ Khandelwal, K. (2013, September 18).
Strategies for Brick and Mortar Stores to Drive Sales. Retrieved
March 20, 2015, from
http://www.shoppinpal.com/strategies-for-brick-and-mortar-stores-to-drive-
sales/