IGNOU BRL 1 2026 2027 - Discuss the significance of technology in retailing. Explain the facto

Question

Discuss the significance of technology in retailing. Explain the factors which influence technology selection in retailing.

07 Aug 2026

Answer :

Word Count : 471

Technology has become an essential part of modern retailing because it helps retailers manage business activities efficiently and provide better services to customers. Retailing involves many activities such as purchasing, inventory management, pricing, billing, customer service, sales promotion, and distribution. Technology connects these activities and enables retailers to respond quickly to changing customer needs. From traditional stores to online shopping platforms, technology has transformed the way retailers operate and interact with customers. One of the major significances of technology in retailing is improved efficiency. Technologies such as Point of Sale (POS) systems, barcode scanners, and automated billing reduce manual work and errors. Retailers can record sales transactions accurately and complete billing faster. Technology also improves inventory management. Computerised inventory systems help retailers know the quantity of goods available, identify fast-moving and slow-moving products, and reduce the possibility of overstocking or stock-outs. Technology is also important for

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