Question
Discuss the significance of technology in retailing. Explain the factors which influence technology selection in retailing.
Answer :
Word Count : 1487
_________ _______ __________ __________ _______ ________ ___ _______ _________ ________.
________ _______ ________ ______ _______ __________.
_______ ____ __________ _____ __________.
___ __________ ______ __________ _________ ___ _______ ______ ________ ________ _______.
_________ _________ __________ ______ ________ ___ _____ ____ __________ __________ _________.
________ _______ ________ _________ _______ _______ ________ _____ ___ _______.
________ ___ _____ _____ ______ _________ _______.
__________ __________ _____ ____ ________ ____.
____ _________ ______ _______ _____ ___ _____.
_____ __________ ____ _________ _______ ______ ________ _____ ___ ____ ___.
__________ _____ ___ __________ ____ ___ ___ _________ ____ ____.
___ ___ _______ ______ __________ _______ _________.
________ _______ ____ ______ _______ ________ ____ ______.
__________ ___ ________ __________ ____ ___ ______ _______.
_________ ____ ________ _______ _____ ______ _______ ____ ___ _____ ______ __________.
_____ __________ ______ __________ _________ ____ _____ _____ _____ _____.
______ _________ __________ ___ ______.
_______ ________ ______ ________ ____.
___ ___ ________ ________ ____ ___ ______ _______ ________ _________ _____ _________.
_______ ______ ______ ______ ________ _____.
________ ____ _________ ___ _______ _________ _____.
__________ _____ ___ ______ ________ ______ ________ _______ __________ _____ _________.
_______ ______ ___ _______ ________ ____ ___.
__________ ________ _______ ____ ________ _____.
______ ___ ______ _________ ________ _________.
_______ ______ _______ ________ ____ ______ _________ _______ _______ __________ ___ _____.
_________ _______ _____ _________ __________ ______.
_______ ________ _______ ____ ______ _______ ___ ___ _____ ___ _____ __________.
__________ ______ ____ _______ _______ _________ ________ ________ ________ _________.
_________ ____ _____ _______ ________ ________ __________ __________.
__________ ____ _______ ______ ______ _____ _____ _______.
________ _______ ____ ______ __________.
______ __________ ____ ___ __________ _______ ___ ________ ________ ____ _________ _______.
____ _____ _____ _________ ____ __________ ______ ____ __________ __________ __________ ______.
__________ ____ ________ ________ ___.
_________ ________ ______ ____ _____ ______ ______ _________ ______ _______ _______ ___.
______ _____ _________ ______ __________ ________ ________.
_______ ___ ________ _____ ____ _____ _________.
______ _____ _____ ______ ___ _____ ____ ____ ________ _______ ___.
_______ ______ _____ ___ ____ __________ ______ ____ _______.
____ _______ ___ ______ ____ ______.
_____ ___ _____ __________ ______ ____ ________ ___.
________ _________ __________ _______ ________ ________.
________ _______ ___ _________ ______ _____.
____ __________ ___ ____ _________ _______ ________ _______ ____ ____ _____ __________.
_________ _______ ________ ________ __________ _________.
__________ _________ _________ _____ _______.
________ _______ ________ ______ ______ ______ ______ ____ _____.
_______ ____ __________ ___ __________ __________.
_________ _________ _____ ______ ________ ____ _____.
_______ ________ ______ _____ ____ ______ ____ _____ _________.
______ _______ __________ ____ ___ ________ _______ _____ __________ __________ ________.
__________ ______ _______ ____ ________ __________ ___ __________.
_______ _______ _____ ____ ___ _____ ____ __________ ________.
_______ ________ ___ ________ _______ ______ __________ ___ ______ _____ __________ __________.
_________ ______ ____ ____ _______.
____ _____ ____ ___ _______ _____ ______ ____ _______ _________ _________ _________.
_______ ___ ____ _______ ____ ________ ______ ____ ____ _________.
________ __________ __________ ______ ______ ___ _______ __________ ___ ______.
______ _________ __________ _____ _____ _________ ________ _________.
_________ ____ ____ _________ ________ ___ ________ ______ ____ ___.
___ _________ __________ _________ ___.
_____ _____ _________ _____ _______ _____ __________.
____ _____ _______ __________ ______ _____ _____.
______ _________ ________ ___ _______ __________ _____ _________ ____ __________ ______.
_____ ________ _________ ____ _____ __________ _________ ____ ________ ________ _________ ____.
_____ ______ _________ ______ _____ _______ ___ _______ _____ __________.
__________ ___ _______ _______ ___ _________ _________ ___ _____ ______.
__________ _____ __________ __________ ___ ___ ________ ____.
____ _______ _____ ______ ____ ___.
_____ ______ ______ __________ ______ __________ _________ ________ ___ _______.
_____ __________ ___ _____ ______ ________ ____ __________ ________ _____.
___ _______ ___ ___ ___ ___ _________ _____ _______ ___.
_____ ____ __________ ______ _____ _________.
______ ___ __________ _______ ______ ____ _________ ______ ________ ________ ________.
_____ ______ __________ _________ _____ ________ __________ _____.
__________ __________ __________ ___ ______ _____ ________ _____.
_____ __________ _____ _________ ____ ________ ____ __________ _____ _______ ____.
_____ _______ ________ ______ __________ __________ ________ _____.
____ ____ _____ ______ _________ ______ ___ ________ ____ ___ ___.
________ ___ ____ __________ ________ _____ _________ _______ _________ _______.
_________ ________ _______ ______ ________.
________ ________ _________ ___ ________ ____ _____ ________ ____ _________ ______.
______ ____ ____ __________ ____ ______ _________ ______ _____ ___ ____.
___ ________ ______ _________ __________ _______ ____ _________ ________ ______ _______.
_________ _________ _______ ________ ____ ____ __________ ____ ________ ___.
_______ ___ ________ __________ __________ _________ ____.
______ ________ ___ _________ ____ _____ ________.
__________ ___ ______ __________ ________.
______ __________ _________ _________ _________ ________.
_______ ____ ___ ___ ________ ________ _______ _________ ______.
________ ______ ___ ___ _________ ________.
_________ ________ ___ ___ ___ __________ _________ ___ ____ __________ __________ ______.
_________ ________ ____ _____ _____ _________ ________ _______ ____ _____ ________ _________.
_____ ___ ___ _____ ___ _____ ___ __________.
________ _____ ___ ____ ________.
___ _________ ______ ________ _______ __________ ____ _______ _________ _______ _______ ______.
________ _____ _____ _________ ________ ________ ___ __________ _____.
_______ __________ _____ __________ _____ ________ ____ ___ _____ ____.
_________ __________ ________ ________ _________ ________ __________ _____ _________ _____ _____.
_______ _____ ____ _______ ____ ____ ___ ______ ___ _________.
________ _____ _________ __________ __________ ________ ________.
_____ ___ ____ ________ __________ ______ _______ ____ ______ ____ _____.
___ _________ ______ _______ __________ _______ _______ _________ ____.
______ __________ ___ ______ ____ ___.
_____ _____ __________ ____ _______ _____.
______ ____ _______ ________ ________ ___ ____ ______.
_____ ____ ______ _______ _____ ___ ______ ______ ____ _________.
__________ __________ __________ _____ _____ ___ __________.
___ ________ ___ ______ _________ ______ _______ ___.
Skip in 10
Technology has become an essential component of modern retailing. The retail sector has changed significantly because of the development of information technology, digital communication, automation, artificial intelligence, data analytics, mobile applications, electronic payment systems and e-commerce. Technology enables retailers to perform their activities more efficiently, understand customers better, reduce operating costs and provide faster and more convenient services. In a highly competitive retail environment, the effective use of appropriate technology can create significant advantages for retailers and improve the overall shopping experience. One of the most important contributions of technology in retailing is the improvement of operational efficiency. Retailers deal with large volumes of products, customers, transactions and information every day. Manual systems are time-consuming and more prone to errors. Technologies such as Point of Sale (POS) systems, barcode scanners, RFID systems and automated inventory management enable retailers to perform routine activities quickly and accurately. A POS system records sales, updates inventory and generates transaction information simultaneously. This reduces paperwork and improves the speed of checkout operations. Technology also plays a major role in inventory management. Maintaining the right quantity of products is essential for retail success. Excess inventory increases storage and carrying costs, whereas insufficient inventory can result in stock-outs and lost sales. Inventory management software helps retailers monitor stock levels in real time, identify fast-moving and slow-moving products, and determine when replenishment is required. Barcode and RFID technologies provide accurate information about the location and movement of merchandise. Retailers can therefore improve stock availability and reduce unnecessary inventory. Another significant area is customer relationship management. Technology allows retailers to collect and analyse customer information such as purchase history, preferences, frequency of purchases and responses to promotional offers. Customer Relationship Management systems help retailers understand individual customer needs and develop personalised marketing strategies. For example, a retailer can recommend products based on previous purchases or provide targeted discounts to particular customer groups. Personalisation can increase customer satisfaction, loyalty and repeat purchases. Technology has also transformed the way customers purchase products. E-commerce platforms allow customers to shop from anywhere and at any time. Mobile commerce has further expanded this opportunity through smartphones and mobile applications. Customers can compare prices, read reviews, check product availability, place orders and make payments without visiting a physical store. Retailers can therefore reach customers beyond their geographical locations. The integration of physical stores with online channels has also encouraged omnichannel retailing, where customers can move easily between websites, mobile applications and stores. Payment technology has improved both convenience and transaction efficiency. Debit cards, credit cards, mobile wallets, UPI, contactless payments and other digital payment systems have reduced dependence on cash. Faster payment processing reduces queues and improves customer convenience. Digital transactions also create useful records that can support sales analysis and financial management. Self-checkout systems and automated payment technologies can further reduce waiting time and improve store productivity. Technology is increasingly important in retail marketing. Digital advertising, social media, email marketing, search engine marketing and mobile notifications enable retailers to communicate directly with consumers. Retailers can measure the effectiveness of digital campaigns through data such as clicks, conversions and customer engagement. Unlike many traditional forms of advertising, digital technology allows promotional messages to be targeted according to customer characteristics and
________ ______ ___ _____ _______ _____ __________ __________ ____._________ _______ __________ __________ _______ ________ ___ _______ _________ ________.
________ _______ ________ ______ _______ __________.
_______ ____ __________ _____ __________.
___ __________ ______ __________ _________ ___ _______ ______ ________ ________ _______.
_________ _________ __________ ______ ________ ___ _____ ____ __________ __________ _________.
________ _______ ________ _________ _______ _______ ________ _____ ___ _______.
________ ___ _____ _____ ______ _________ _______.
__________ __________ _____ ____ ________ ____.
____ _________ ______ _______ _____ ___ _____.
_____ __________ ____ _________ _______ ______ ________ _____ ___ ____ ___.
__________ _____ ___ __________ ____ ___ ___ _________ ____ ____.
___ ___ _______ ______ __________ _______ _________.
________ _______ ____ ______ _______ ________ ____ ______.
__________ ___ ________ __________ ____ ___ ______ _______.
_________ ____ ________ _______ _____ ______ _______ ____ ___ _____ ______ __________.
_____ __________ ______ __________ _________ ____ _____ _____ _____ _____.
______ _________ __________ ___ ______.
_______ ________ ______ ________ ____.
___ ___ ________ ________ ____ ___ ______ _______ ________ _________ _____ _________.
_______ ______ ______ ______ ________ _____.
________ ____ _________ ___ _______ _________ _____.
__________ _____ ___ ______ ________ ______ ________ _______ __________ _____ _________.
_______ ______ ___ _______ ________ ____ ___.
__________ ________ _______ ____ ________ _____.
______ ___ ______ _________ ________ _________.
_______ ______ _______ ________ ____ ______ _________ _______ _______ __________ ___ _____.
_________ _______ _____ _________ __________ ______.
_______ ________ _______ ____ ______ _______ ___ ___ _____ ___ _____ __________.
__________ ______ ____ _______ _______ _________ ________ ________ ________ _________.
_________ ____ _____ _______ ________ ________ __________ __________.
__________ ____ _______ ______ ______ _____ _____ _______.
________ _______ ____ ______ __________.
______ __________ ____ ___ __________ _______ ___ ________ ________ ____ _________ _______.
____ _____ _____ _________ ____ __________ ______ ____ __________ __________ __________ ______.
__________ ____ ________ ________ ___.
_________ ________ ______ ____ _____ ______ ______ _________ ______ _______ _______ ___.
______ _____ _________ ______ __________ ________ ________.
_______ ___ ________ _____ ____ _____ _________.
______ _____ _____ ______ ___ _____ ____ ____ ________ _______ ___.
_______ ______ _____ ___ ____ __________ ______ ____ _______.
____ _______ ___ ______ ____ ______.
_____ ___ _____ __________ ______ ____ ________ ___.
________ _________ __________ _______ ________ ________.
________ _______ ___ _________ ______ _____.
____ __________ ___ ____ _________ _______ ________ _______ ____ ____ _____ __________.
_________ _______ ________ ________ __________ _________.
__________ _________ _________ _____ _______.
________ _______ ________ ______ ______ ______ ______ ____ _____.
_______ ____ __________ ___ __________ __________.
_________ _________ _____ ______ ________ ____ _____.
_______ ________ ______ _____ ____ ______ ____ _____ _________.
______ _______ __________ ____ ___ ________ _______ _____ __________ __________ ________.
__________ ______ _______ ____ ________ __________ ___ __________.
_______ _______ _____ ____ ___ _____ ____ __________ ________.
_______ ________ ___ ________ _______ ______ __________ ___ ______ _____ __________ __________.
_________ ______ ____ ____ _______.
____ _____ ____ ___ _______ _____ ______ ____ _______ _________ _________ _________.
_______ ___ ____ _______ ____ ________ ______ ____ ____ _________.
________ __________ __________ ______ ______ ___ _______ __________ ___ ______.
______ _________ __________ _____ _____ _________ ________ _________.
_________ ____ ____ _________ ________ ___ ________ ______ ____ ___.
___ _________ __________ _________ ___.
_____ _____ _________ _____ _______ _____ __________.
____ _____ _______ __________ ______ _____ _____.
______ _________ ________ ___ _______ __________ _____ _________ ____ __________ ______.
_____ ________ _________ ____ _____ __________ _________ ____ ________ ________ _________ ____.
_____ ______ _________ ______ _____ _______ ___ _______ _____ __________.
__________ ___ _______ _______ ___ _________ _________ ___ _____ ______.
__________ _____ __________ __________ ___ ___ ________ ____.
____ _______ _____ ______ ____ ___.
_____ ______ ______ __________ ______ __________ _________ ________ ___ _______.
_____ __________ ___ _____ ______ ________ ____ __________ ________ _____.
___ _______ ___ ___ ___ ___ _________ _____ _______ ___.
_____ ____ __________ ______ _____ _________.
______ ___ __________ _______ ______ ____ _________ ______ ________ ________ ________.
_____ ______ __________ _________ _____ ________ __________ _____.
__________ __________ __________ ___ ______ _____ ________ _____.
_____ __________ _____ _________ ____ ________ ____ __________ _____ _______ ____.
_____ _______ ________ ______ __________ __________ ________ _____.
____ ____ _____ ______ _________ ______ ___ ________ ____ ___ ___.
________ ___ ____ __________ ________ _____ _________ _______ _________ _______.
_________ ________ _______ ______ ________.
________ ________ _________ ___ ________ ____ _____ ________ ____ _________ ______.
______ ____ ____ __________ ____ ______ _________ ______ _____ ___ ____.
___ ________ ______ _________ __________ _______ ____ _________ ________ ______ _______.
_________ _________ _______ ________ ____ ____ __________ ____ ________ ___.
_______ ___ ________ __________ __________ _________ ____.
______ ________ ___ _________ ____ _____ ________.
__________ ___ ______ __________ ________.
______ __________ _________ _________ _________ ________.
_______ ____ ___ ___ ________ ________ _______ _________ ______.
________ ______ ___ ___ _________ ________.
_________ ________ ___ ___ ___ __________ _________ ___ ____ __________ __________ ______.
_________ ________ ____ _____ _____ _________ ________ _______ ____ _____ ________ _________.
_____ ___ ___ _____ ___ _____ ___ __________.
________ _____ ___ ____ ________.
___ _________ ______ ________ _______ __________ ____ _______ _________ _______ _______ ______.
________ _____ _____ _________ ________ ________ ___ __________ _____.
_______ __________ _____ __________ _____ ________ ____ ___ _____ ____.
_________ __________ ________ ________ _________ ________ __________ _____ _________ _____ _____.
_______ _____ ____ _______ ____ ____ ___ ______ ___ _________.
________ _____ _________ __________ __________ ________ ________.
_____ ___ ____ ________ __________ ______ _______ ____ ______ ____ _____.
___ _________ ______ _______ __________ _______ _______ _________ ____.
______ __________ ___ ______ ____ ___.
_____ _____ __________ ____ _______ _____.
______ ____ _______ ________ ________ ___ ____ ______.
_____ ____ ______ _______ _____ ___ ______ ______ ____ _________.
__________ __________ __________ _____ _____ ___ __________.
___ ________ ___ ______ _________ ______ _______ ___.
IGNOU ACADEMY
Your IGNOU journey, made easier.
- Solved Assignments
- Study Notes
- Guess Papers
- Question Papers
Continue Reading — It's Free
Sign in with Google to unlock more of this answer.
✓ Free access
✓ Unlock up to 60% of the answer
✓ No payment required
✓ Unlock up to 60% of the answer
✓ No payment required
Quick Google sign-in. No separate registration form.