1. 1. Industry Analysis-Retail Presentation by: Kimberly Gilmer, Jessica Delong, Holly Lash & Keerthika Pushpagarajan PowerPoint prepared by: Gloria Tolson
2. 2. Retail: Online and In-Store Rise of online shopping (Amazon, etc.) Pros: Convenience, cheaper Cons: Do not always know what you are getting Does not mean that in-store shopping has disappeared (Ex: clothing, grocery) Technology needed to complete with on-line
3. 3. In-Store Advances Technology has affected even retail Computerized point-of-sale inventory systems Bar code tracks sales of merchandise Real-time tracking Fastest checkout and keep track of when to reorder/restock Increase customer satisfaction Self-check out in grocery stores Decrease in time and labor costs Radio Frequency Identification Tags (RFID)
4. 4. How can technology help brick-and-mortar retailers complete with e-retailers? Actual stores given technological features that improve the shopping experience RFID Tags Hand-held devices Payment by mobile phone through Applepay, bank or gift card How does this technology help stores? Makes shopping a smoother process Greater efficiency in terms of inventory Gives workers more info to assist customers Customers can integrate their mobile devices into the shopping process
5. 5. Radio Frequency Identification (RFID) What is it? Technology that is uses radio frequency signals to automatically identify objects. RFID has opened the doors to a new era of SCM in retail management Successful Attributes of RFID Automatic Scanning Labor reduction Asset Tracking Accuracy of Tracking and Warranties Inventory Management Information Properties
6. 6. One Concern of RFID Technology Privacy Neglects addressing consumer privacy What can retailers do to alleviate this concern? Stores can steer away from having a database that stores personal information on a customer Greater restrictions on providing information on a particular product without having customers key in their information.
7. 7. What can brick-and-mortar stores do to avoid becoming to sterile against e-tailors? Customer Service is Key! Store associates MUST make the customer feel welcome and do whatever they can to assist in their shopping experience. 76% of shoppers reported purchasing more based on what was recommended to them by sales associates
8. 8. Customer Service & the Store Experience How can a store improve customer Service Greeting customers Sales floor assistance Fitting room assistance Refreshments Sales and Promotions Proper training Merchandising and Store Stores must be inviting to customers and should offer an experience How can the store improve the store experience? Cleanliness Appealing store displays Store Inventory Allow for experience of product
9. 9. References Valacich, J., & Schneider C. (2014). Information Systems Today: Managing in the Digital World (Sixth Edition). Upper Saddle River: Pearson Jenkins, B. (2014, December 9). Adding the personal touch to brick-and- mortar stores. Retrieved March 20, 2015, from http://www.retailtechnology.co.uk/news/5568/adding-the-personal-touch- to-brick-and-mortar-stores/ Khandelwal, K. (2013, September 18). Strategies for Brick and Mortar Stores to Drive Sales. Retrieved March 20, 2015, from http://www.shoppinpal.com/strategies-for-brick-and-mortar-stores-to-drive- sales/