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Impact of Technology in Retail Industry

'Shopping' a word that women go ga ga over is losing its luster. Today, the entire shopping experience is not all that pleasant. Waiting in traffic to actually go to the store to find a parking space, and finally not finding the object of desire that wanted to own, it is quite disappointing files. So, in today's competitive retail market have realized that with the help of modern technology, which can improve the experience received by customers more than ever.

The retail industry grows enormously technology today. It has transformed the area into a high-performance system, the achievement of its objectives in responding to consumers. Retail stores have tried to reorganize with the help of technology,Retail Industry in particular the United States and Europe, in various ways. Retailers have adapted technology as a vital part of commerce.

Technology has enabled greater transparency retailers. Retailers have integrated technology with manufacturers and consumers through sales and customer data. We make it easy to keep track of their supplies from their headquarters.Retail Industry The technology also helps to break national and international barriers and communicate with different customers and their demands.

Philip Clarke, CEO of Tesco PLC said there was a "tectonic shift" in the distribution sector, and has forced companies to adapt to the new age of technology.
"We are in the first attack of the digital age,Retail Industry" said the World Retail Congress in London September 9, 2012.Retail Industry "Digital technology gives us the opportunity of a conversation, warmer, more meaningful to our customers, communities, employees and suppliers we work with."

Giant retailers like Wal-Mart has made a great effort in social networking sites like Facebook that relates to make its stores more locally relevant.Retail Industry It was released on Black Friday sale on online social networks.Industry Retail

"The achievement of an optimal state of the use of  is the bar very high for almost any business to achieve," said Tim Herbert, vice president,Retail Industry research,Retail Industry CompTIA, a non-for-profit computer industry. "But the vast majority of retailers clearly want to improve the use of technology For some,Retail Industry this will involve the adoption of new technologies.in Retail  For others, the better use of what they have created."

"The location-based technologies can provide retailers with the tools to promote shopping in stores,Retail Industry like discounts for customers in stores that are recorded in the middle of an application," he said in a press release.
"Reliable wireless connectivity,Retail Industry robust security,Retail Industry quality assessment criteria, data backup and other IT basics can Retail Industrynot be overlooked by retailers looking to add new features," he said.
An estimated two-thirds of the U.S.Industry Retail  gross domestic product (GDP) comes from retail consumption. To view the welfare of the retail industry in the U.S.Retail Industry economy is a good indicator.Industry Retail  According to the latest annual report from the U.S.Retail Industry Commerce Department, total retail sales in 2011 were $ 4.7 trillion,Retail Industry representing an increase of 8% compared to 2010, the total retail sales (including food service and automotive).

A well-known voice of the U.S. company, Howard Schultz, CEO of Starbucks says, "For all the promises of digital media to bring people together,Retail Industry I still believe that the most sincere, the time of connection to the man network just look in someone's eyes,Industry Retail  there is no screen between the two. "

But he also added: "The information can not be the company to the consumer, should be a level playing field for consumers to accept and feel that there is an exchange of information Cracking the Code is to understand how to create.Retail Industry An opportunity for people feel a sense of pride,Retail Industrya sense of discovery you want to share with someone they care about. "

Since 2011, the attention of retailers has shifted to mobile, with consumers buying through smartphones and tablets and their desire to interact with consumers at retail.Retail Industry This has now been moved to be the most important devices for customers in the United States and European countries. Retail sales began to address all things through mobile.

Consumers of mobile applications on their smart phones and offer loyalty points and coupons offer "check-in" to a particular shot.Retail Industry Mobile has become a favorite place or platform for consumers to buy U.S.Industry Retail  retailers reported an increase of 4 percent of total e-commerce sales only from smartphones and tablets, according to Forrester Research and Shop.org.

Mobile payments have become the thing among consumers and retailers. Mobile payment is called mobile money, mobile money transfer and mobile wallet generally refer to payment services operated under financial regulation and made from or through a mobile device according to Wikipedia.Industry Retail  It is essentially an alternative payment method was cash,Retail Industry checks or credit cards. Consumers can pay for a wide range of goods and services using their mobile phones - music,Retail Industry bus tickets, train tickets, tickets, books, etc. The payment model may be the NFC (Near Field Communication),Retail Industry the mobile payments Web-based,Retail Industry Direct Mobile Billing SMS (WAP). Globally, mobile payments could reach a surplus of 600 million in 2013 provided Juniper Research.

technology giants like Apple have also contributed to detail better integration with the latest technologies.Retail Industry Apple came with the EasyPay payment system, an application that turns your iPhone into a iWallet.Industry Retail  The application uses information from the user's credit card in your iTunes account.

Financial institutions and technology companies are investing millions of dollars in the development of mobile payment services. Also known as digital wallets and mobile.
All major U.S. retailers such as Wal-Mart, Target,Retail Industry Best Buy, 7-Eleven and Sunoco have become the development of a network service mobile payments. Customer Merchant Exchange (MCX), a joint venture of more than a dozen retailers compete with Google Wallet. This will be supported by mobile operators AT & T,Retail Industry Verizon and T-Mobile.

Today, consumers and retailers a payment faster and less cumbersome believe that the construction of electronic systems that will help the mobile payment transaction will deepen customer loyalty.

In August, Starbucks announced it will invest $ 25 million in a new company called Square Inc. using its mobile payment at Starbucks stores in the United States

"Can you imagine trying to pay with a phone to a (restaurant)? Have to think more than one (Option)" said Denee Carrington, an analyst at Forrester.

Online companies like PayPal and Amazon also have mobile payment options.
A study by Javelin Strategy & Research recently said that mobile payments have exceeded $ 20 million in 2012 and is expected to grow to $ 1 trillion in 2017.
"Mobile is going to define the movement to unify all channels of retailing is becoming a turning point in the search for a true omni-channel business -. And probably a predictor winners of tomorrow," said shops NRF.

In conclusion, the transformation of the retail industry from a single store to a chain store with a customer base in the world is mainly due to globalization and advanced information technology. And technology has allowed them to keep control and stay connected to different outlets. Technology has helped clients are informed about the price and get their desired products and services in a more easier and better.

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