Retail Technology Management

Assignment 2Submitted By Yash J. Gawale

BFT/20/1276
Technology on Retail
 Benefits of
technology in
Retailing

QR codes
 QR codes
Provide Consumer with more information on the product before they
make their purchase.
Allows them to make the purchase right from their phone.
Retailers can target engaged shoppers.
 Describe digital
pricing and
inventory systems.

Digital Pricing
A strategy to stay competitive and
current in the digital marketplace
 Inventory Systems
The Software used to plan and track inventory
balances and activities.

Advantages Disadvantages
Speed and efficiency Reports rely on accurate input of data

Report Generator Reliance on technology

Timely Data Fraud/Instructions

Compare advantages and disadvantages of electronic payment to the
retail establishment.

Electronic Payments

Benefit Risks
s
Saves Time Frau
d
Convenience Account creation to
use online payments
Mobilit
y Availability around the world
Anonymity
Currency value match-up
Privac
y
 The “face” of retail
Technology is evolving

An ever increasing # of technology devices are being adopted at an

increasingly fast rate by consumers.

The world is costumers is more dynamic and interactive with 86% of

consumers using their mobile or smartphone for internet accession a
daily or weekly basis.
 How is technology used in retail?

RFID ( Radio Frequency IDentification )

A data collection technology that uses electronic tags for storing data.

The Tag, also known as an “electronic label ,” “transponder” or “code plate,” is

made up of an RFID chip attachment to an antenna.