(A). The retail industry is one that constantly strives to stick to margins. It’s live or die scenario for most retail companies these days, with their managers struggling to maintain their costs low and revenues high. That’s a pretty hard thing to maintain, considering the level of competition in the industry.

Every retailer is always on the lookout for ways to lure more customers into their nets while at the same time keep their costs in check. And technology has always been a means for them to achieve both these goals. Customer experience, inventory management, supply chain management and the like are some areas where technology is being used and improvements are being made. For example, wireless technology is something that has played a huge role in transforming the retail industry, by allowing devices and people to communicate with one another from anywhere in the world. Although, its adoption has been limited by a number of factors, like security concerns, deployment costs etc.

Considering the race for retail companies to bag the most number of consumers, it is almost inevitable that they make use of technology if they have to stay ahead. It is indeed important to adopt new technologies in retail business, as customers always go for maximum ease and efficiency when it comes to shopping, and if you fall short, you are just going to get phased out.

Just like customer experience and supply chain management, there are various aspects in retail where you can leverage technology to increase productivity and profits. Here we discuss few such areas, where you can make use of technology and streamline your business.

The physical location where goods are sold to customers – the point of sale – was traditionally the place where customers used to stand in line for hours to