Role of Technology
Role of Technology
Technology is utilized in the retail environment to allow more greater and meaningful interaction with the customer and headquarters for a better understanding of store operations. The retail business has been around for many years. Retail has been in progress with the public commonly where people in the neighborhood would shop for needed items. As societies highly developed with people increase leading to expanded in different places, and newly developed technologies gave rise to interconnectivity as well as easily communicating with the society. One of the most critical technologies in the retail business today is point of sales purchase (POS). POS system is one of the most fast and efficient system for retail business.
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The retail marketplace has broken technology in such distinctive way; technology has been the basis for increasing new retail channels that are satisfying and suitable for customers.
Revision is the most essential phase of a retailer’s business as trends of the public as well as the taste for new product range change and customers demand more. If a business is incapable to meet the requirements of the market then the business will probable be eliminated from the organization. Managing customer relations and presenting the customers needs is a very essential issue in the business retail market. Customers are the key focus in retail business because customers are the ones who are purchasing retailer products. Technology has become critical to modern retail marketing using POS system.” POS controls the daily processing of sales and inventory information” (Berman 2007). POS system is fast for checking out customers by scanning items; at hectic time this reduces the probability of a customer to see a lengthy line and not buying any times from the store. For example, customer can go to Wal-Mart and use the self checkout line with no line or wait to purchase items in the store. POS system captures customer’s information, every transaction is time stamped, and sales associates may even clock in or out of the system; this helps keep a record of all business operations.
In conclusion, Technology is used into the retail environment to function store operations. Technology has impacted the business and customers as a whole by giving faster service and revenue in the business. As the population increase so has technology. Technology has put the latest products from around the world into retail stores and has expanded consumer’s choices at rational price. POS system is one of the best systems for retail operations; it helps the business service their customer fast and efficient. POS systems process the business records as soon as it is scanned in the system for purchase.
Berman, B., & Evans J. R. (2007). Retail Management: A Strategic Approach (10thed.). Upper Saddle River, NJ: Prentice Hall.
Rainer Jr, R. K., & Turban, E. (2009). Introduction to information system: Supporting and Transforming Business (2nded). Hoboken, NJ: Wiley.