Why technology is important in modern retail? Discuss the factors influencing technology selection for Retail Store
An accumulation of this kind of information enables the retailer to have an understanding of the pattern of inventory flow.
Reason for using Technology in modern retail
Efficient Management
Integrated technology in retail is the best way to stay on top of your business, even if it runs across multiple geographical locations. As a small retailer, your aims would be stabilization, positive cash flow and expansion in that order. Using technology can provide stability- especially in the retail context where stock-outs can mean lost business, you can manage your inventory flow effectively and be recognized as ‘that shop that always has the stuff you need’.
Better Integration And Communication
Using technology in retail, it is now possible to control all of your business
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