...Products and Services Paper Products and Services Paper Technology has drastically changed the retail industry. Today consumers are armed with tons of information that could be analyzed to help make buying decisions. Thus one could say that technology has provided the consumers with an avenue through which they can communicate feedbacks on product quality and brand to the retailers and brand. As a result of technological innovations, consumers can compare prices, research products, check inventory, provide product reviews, and even exchange or return recently purchased products from the comfort of their homes. This paper will present a case study outline of technological innovations that have helped shaped the retail industry with a focus on the Macy’s stores. Technologies affecting retail: Retail business as we know it today has been shaped by a mix of technologies. First and foremost amongst these technologies is the Internet. Others include Customer Relationship Management (CRM), Network technologies, social networks, mobile technologies, and e-commerce. Effect of technology on Macy’s The trend: Consumers are increasingly becoming very comfortable shopping online. According to Arvidson (2013), the US Census Bureau reported that about $165 billion worth of transactions took place over the internet in 2010. This represented a 15% increase over the previous year and it is a trend that is expected to continue on the...
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...STRATEGIC MANAGEMENT MGMT E -5000 WALMART CASE ANALYSIS BY Indhu SEPTEMBER 19th, 2012 SWOT Analysis of Wal-Mart: (2008- 2010) EXTERNAL ANALYSIS: Significant findings on the PESTEL analysis were:(Refer Fig 1 ) * Socio Cultural factor: One of the most important concerns among consumers during that period was price. Since its establishment Walton focused on Everyday low prices (EDLP) and always geared towards the low- income groups of the society. This provided Walmart better opportunities and helped them gain a competitive advantage in the industry. * Demographic factor: Another opportunity facing the industry was that Consumers (working Mothers and other American workers) wanted ease of shopping (fast, efficient and one-stop shopping). Walmart provided its customers with what they want in the Walmart supercenters combined with its wholesale unit “Sam’s Club”. * Technological Factor: Heightening of Internet users (70% of the population) and more people were comfortable shopping online. This yielded both favorable (lower over head costs and convenience to the customers with wide choices of items and prices that were appealing) and unfavorable (Walmart has invested heavily on the infrastructure like the EDI links and POS systems) circumstances. * Economic Factor: Domestically the U.S market had a very slow growth. Although the economy was said to be in recession it favored the growth of the organization because it offered consumers commodities at a...
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...Effectiveness of Technology Andrew Kelly University of Phoenix BUS/318 March 21, 2011 Effectiveness of Technology In every aspect of business today, technology is the core to a company’s success. Technology has altered the way managers of retail operate. Technology allows for communication, operations, and the planning of strategic aspirations. Technology’s Impact on the Role of Retail Managers Working as a retail manager requires great more knowledge than retail managers before them. As a retail manager or a manager period, knowledge of computers is a must. It is not simply turning a computer on and off. It is like running the whole operation. The main objective is to build a bridge of trust between the consumer and the store. Building trust will bring the consumer back for more business thus increasing profits. Retail store managers should spend the majority of their time on the shop floor. Instead they spend a substantial part of their time in the back office in front of their PC doing administrative work. Thus there is need to untether the store manager. http://telecomdisruption.blogspot.com/2010/01/retail-store-managers-use-cloud.html Technology Improves Retail Management Technology has raised the bar for companies competing in the retail market. With the web being easily accessed, not only are companies competing locally, but also globally. To be successful, retail management...
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...Consumer Attitude Towards Online Retail Shopping in the Indian Context Sangeeta Sahney *, Archana Shrivastava** and Rajani Bhimalingam*** The objective here is to look into the various aspects of online shopping in modern day environment and to identify those factors that affect the development of attitudes towards online shopping. The study also aims at identifying customer requirements with respect to online shopping, giving certain conclusions to ensure the success of an online shopping site. This study is descriptive, diagnostic and exploratory in nature, and is aimed at identifying critical parameters in online retail shopping, tapping consumers’ feelings and attitudes towards online shopping, and establishing attitudinal differences across demographics. It reaches a logical conclusion through the identification of key design areas. It helps one to understand what consumers expect from an online retailing store for their satisfaction and delight. By examining the various dimensions uncovered in this study, online retailers can develop a better understanding of consumer needs. Marketing academicians may use this study for assessing consumer attitudes towards online retail shopping in the Indian context, thereby, identifying such attributes that would lead to positive attitudes towards online retail shopping. Online retailers may also use the findings of this study as a resource, while constructing, managing, and evaluating their marketing strategies in the Indian context...
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...Financial Institutions FIN 674 Final Project Retail Banks Atieh Akbar 03/03/2012 Introduction Retail banks are working straightly with small businesses and consumers. The conventionally giving payment services to small businesses and individuals with all the mechanism of the services provided by the banks. Although it has turned to be so tough to distinguish the real job of retail bank firstly because many of the banks are merging wholesale activities and retail actions. The other reason is because of the technological developments which are allowing banks to give a various kind of retail financial services to the people. This research begins the studies by going through the characteristics of retail banking. Then we will go more through details and will talk about the ways that banks are managing the risks in different conditions. In the last part it’s discussed about the advantage and disadvantages of using the retail banking. What is retail banking? It is not easy to give a definition of retail banking. Conventionally retail banks were giving services and providing banking facilities for individuals and also for small businesses that were interacting with low value of transaction. But in particular it is not possible to talk individually about retail banks and neglecting the role of wholesales banks. The retail banks are fund themselves by retail deposits and lending it to the loan markets. In develops countries...
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...E-Business Strategy 1 Internet Marketing Plan for River Island E-Business Strategy 2 Table of content Introduction…………………………………………………………………………………..3 Impact of E-Business strategy on Business…………………………………………………..4 Expectation of Internet Customers……………………………………………..……4 Integration with the Existing business processes……………………………………..5 Analysis of Logistics Processes………………………………………………………5 Resources required for Website maintenance and support…………………………...5 Implementation Strategy……………………………………………………………………..6 Planning for Website designing……………………………………………………....6 E-marketing and Promotion strategy……………………………………………..…..7 E-supply Chain Management Strategy…………………………………………..…...7 Integration with the Existing System…………………………………………..…….8 Protection of Business………………………………………………………………..………8 Risk from E-business and measures to control…………………………..…………..9 Future Development in E-Business………………………………………………..…………9 Mobile technology and impact of XTML on E-business………………….…………9 Impact of supply chain integration and e-business on international competencies…10 Conclusion and Recommendation…………………………………………………………..10 References…………………………………………………………………………………..11 E-Business Strategy 3 Introduction With the increase enhancement in the field of technology, it has been considered essential by the businesses to implement such technology in their business processes. Further, the increasing demand from the customers regarding the better quality of products and ...
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...Evaluation of Eclipse Retail Business Plan Eclipse Retail, Inc. is an Internet retailer of discounted designer fashion, jewelry and home furnishings. While its business plan presents opportunities and competitive advantages that may set the company apart from its competitors in the traditional retail sector, there are several aspects that warrant questions and further investigation. Opportunities and Risks Market In retrospect, the late 1990s did see tremendous technological advances and a proliferation of the Internet use. This, combined with the sizable market of off-price apparel, present a great opportunity for Eclipse Retail which would combine the two sectors and capitalize the traditional apparel market with the use of E-commerce. However, the business plan fails to provide sufficient information to substantiate its statement on the growing use of shopping online in the apparel market in the 1990s. Given the E-commerce websites such as Amazon.com and Ebay.com, there is no doubt that there is an existing Internet-based sales market that supports a group of consumers that are comfortable with making transactions online. However, given the unique nature of the apparel shopping, which often times requires an in-person experience in order to try on the apparel, it is not yet clear how receptive the shoppers will be if this traditional shopping experience is completely taken online. In addition, there is uncertainly surrounding the estimated size of the online...
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...DQ1: How can information technology support a company's business processes and decision making and give it a competitive advantage? What are some of the toughest management challenges in developing IT solutions to solve business problems and meet new business opportunities? Answer: Information technology plays a vital role in the success of an enterprise. For example, the Internet and Internet-like internal networks, or intranets, and external inter-organizational networks, called extranets, can provide the information infrastructure a business needs for efficient operations, effective management, and competitive advantage Use of information Technology has made a workplace more productive and scientific. Business decisions are based on the data’s and information provided to decision makers and information technology ensures the accuracy and reliability of the information collected. Through the use of information technology, data’s and information are to be collected and are to be supplied to all the sectors of organization as per the importance. Decision making department uses these data’s to evaluate the performance of organization and all the plans and policies are made as per the information and data’s provided. Through the use of information technology they can be implemented effectively and also it becomes easy to control the decision, since outcomes of decision can be monitored systematically. This way efficiency of the decision becomes more. When your decisions are...
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...Cisco - Retail Customer Success Stories Page 1 of 3 The Wal-Mart Story Using Internet Technology to Support Everyday Low Prices and Increased Customer Satisfaction Web-based applications on a Cisco network help Wal-Mart satisfy its customers and increase its competitive edge For Sam Walton, low prices and satisfied customers were the guiding principles to retailing success. His emphasis on quality products at "everyday low prices," coupled with friendly service, propelled Wal-Mart to its current position as the world's largest retailer. Today, the company uses those same principles to test the value of each innovation it considers. "Will it help us lower prices," executives ask. "How will it improve the customer's experience?" So the selection of a communications infrastructure from Cisco was part of a Wal-Mart plan to make things better for customers. "At Wal-Mart, we don't implement technology for its own sake," says David Flanagin, Director of Network Engineering. "It has to have a payback that helps the customer." The Wal-Mart network, connecting more than 2,400 stores and 100 distribution centers worldwide, helps Wal-Mart maintain low prices and inventory on the shelves. Just as important, the network helps 950,000 Wal-Mart associates work more efficiently to keep their customers satisfied. Internet Solutions for Supply Chain Management How can retailers and their suppliers collaborate to increase sales and lower prices? Successful inventory management, an important...
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...Comparison and Contrast of Popular Online Bookstores * Use of hardware and software * * “Common Hardware technologies used in business include: Desktop computers, laptops, mainframes, MS Windows, Mac OS, Unix, Linux, servers, web servers, and blade servers. Common Software technologies used in business include: enterprise applications, productivity and Office Applications, communication and information-sharing software, and entertainment and Media development software.” (Management Information Systems, 2013). * * The most popular software that is used amongst businesses are Accounting software called Intuit QuickBooks Pro, Backup and recovery software called Mozy, Blogging Software called WordPress, Calendar software called Sunbird, Collaboration software called Vyew, Collaboration and Office Suite software called Google Docs, CRM software called Salesforce.com, and Database software called FileMaker Pro. For the popular hardware used in business are servers, workstations, laptop and desktop computers, network switches, routers, cell phones, blackberries, PDA’s, GPS devices and many more. * * Use of databases and data communication technologies * * Besides the high importance of software and hardware that is used in virtually every business, databases and data communication technologies is just as important. There are main elements that make up databases and data communication for all three of these business: * Database Processing:...
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...Target Retail Corporation (Group Name) Webster University Mr. Richardson ITM 6000 Executive Summary The Target Retail Store goal is to make life better for their customers. Target wants to improve the “guest” retail experience. Their intent is to improve customer shopping, and make it more convenient. Target Corporation emphasizes critical thinking and exploration to improve customer experience; and creating a shopping environment to meet the needs o customers. Target wants to become the preferred shopping destination for all customer needs. To achieve this, they have to deliver value, continuous innovation, and an exceptional guest experience by consistently fulfilling their “expect more, pay less” promise. Target intends to deliver an outstanding experience to the customers and to the employees. The retail world is one of the most competitive industries. It has transformed greatly over the last few decades. It has changed from family-owned, to big box stores. Amazon poses a huge threat to the retail industry. This is because more consumers are avoiding the shopping carts; and choosing to have purchases delivered to their front door. This industry trend has been growing because of the internet. Because of technology, retail companies have to respond to a growing on-line presence. At the end of 2013 Target suffered a drastic security breach. Target was accused of failing to maintain reasonable security which caused customers cards to be breached...
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...Effectiveness of Technology BIS/318 Effectiveness of Technology Retail management is the process or processes to aid the customer in procuring the desired good or service from a retail store for his or her end use. In the 21st century, technology is playing an increasing role in the overall success of the retail industry and retail management. “Information Systems, starting with customer records, inventory control, loss prevention, supply chain, workforce management and business intelligence changing the efficiency and effectiveness of retail operations to a point where retailers who do not embrace the technology move to the forefront of businesses that are doomed to fail” (DMS Retail, n.d.). How Technology Changed the Role of Retail Managers Any improvement to customer service is an improvement in retail management. Technology has proven to improve various aspects in service and management. For example technology in inventory control allows retailers to locate products throughout the retail store from the moment it is checked in from the receiving floor. When a customer calls to check on whether the retailer has a particular item in stock, there is no longer a need to walk through the entire store to check to see if a product is on the shelves. Time is saved by searching through the inventory system to see if the product is in stock. Retailers are now able to auto order new inventory based on information passed through the system on sales. When a good is sold...
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...increased at an annual rate of 1.5 percent in the second quarter of 2012, (that is, from the first quarter to the second quarter). http://www.econedlink.org/lessons/index.php?lid=1081&type=educator Social Retail Industry http://smallbusiness.chron.com/role-macro-environment-retail-industry-33419.html Retail stores like Walmart and Home Depot operate within a “macro environment,” or the sphere of influence outside the company that shapes how companies do business. Online shopping, barcodes and computerize billing systems are examples of how stores like these carry out its day to operations. Technology Technology not only creates new products for retail companies to sell, but also plays a major role in changing the way retail companies do business. Technological advancements such as the Internet offer retail customers additional shopping options. Technology also opens new retail markets, such as the Home Shopping Network and web-based retailers such as Amazon.com. Barcoding and computerized billing systems have improved the retail industry by allowing retailers to develop new processes that increase efficiency. Point-of-sale systems increase sales by allowing retailers to process cash, check, and credit- and debit-card payments. Internet & E-Commerce There were 2 billion internet users are...
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...of sales and conducting transactions over the Internet. Alongside, the increase in the competition and the continuous globalisation of the business organizations with the presence of conglomerates both at the national and international markets has created the need for electronic commerce as an alternative to leverage growth in business and generate revenue. Retail sector in the UK accounts for a major portion of the nation’s annual revenue. The increase in customer demand for new products as well as the flexibility for shopping online, the electronic commerce has made a tremendous impact in the actual form of retailing itself. In this report, the author aims to analyse the impact of electronic commerce over the retail sector and the extent to which electronic commerce has reached the general public. o Aim and Objectives The aim of this report is to analyse the impact of electronic commerce on TESCO Plc: the leading retailer of the UK. The research is accomplished through the following objectives • To analyse the growth and impact of electronic commerce in the business society of the UK. • To research the effect of electronic commerce on the retail sector as a whole • To conduct a case study analysis on TESCO Plc using secondary data resources • To conduct a primary research analysis on the electronic retailing approach of TESCO Plc • Critically analyse the impact of the electronic commerce on the entire retail sector. o Justification for the research ...
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...intense rivalry in the acquisition and retention of consumers. The internet market and e-commerce related trading has become a major issue for modern retailers. With the emergence of new technologies for information transfer, the Internet has positioned itself as a new end frontier towards customer acquisition and retention through the management of the relationships that exist between the customers and the retailers. Little known empirical research has been carried out on the management of this e-commerce facility in the acquisition and retention of customers within the clothing industry, or at a particular store. The clothing channel being the highest channel within e-commerce, it shouldn’t come as a surprise that there is an increase in the use of the Internet to market and sell clothes online. This paper will explore the implementation of taking a jean clothing line through a website; where customers have the capability of shopping for denim that best suits their fancy, stocking them up in virtual shopping cart, paying for them through available online payment systems and having them delivered to their locations using their preferred delivery systems. Introduction As the demands within the retail industry continue to become more diversified, it has become increasingly challenging for marketers to acquire and retain new clientele. Today, the primary business marketing management issue is that the retail industry faces the need to focus their attention on business...
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