Topic > Essay on Retail - 631

In today's world, retailers need to quickly identify and respond to trends and challenges. This article is about how a retailer faces new challenges and trends. Retailers plan so many new things for the future to somehow calculate customer behavioral data. Information about customer purchasing activities, for example, most retailers attempt to determine information such as the time at which most customers shop or the average purchase amount. Significantly, the knowledge can help buyers confirm that they have sufficient quantities of goods where and when customers want to purchase them. They must develop strategies in response to using such changes. Retail is modernizing to such an extent that success will require a clear vision and strong decision makers who can see the clear picture of the future. In this article, they are thinking of counting people entering a store using the Wi-Fi tracking system. For example, what time they enter and how long they stay in the store. Retailers should position themselves as a shopping destination and not as a place where customers can simply wander through the store. Merchandising decisions play a key role in making stores a purchasing target for customers. Shoppers need to recognize the trends that are currently developing in the retail industry. Technology has a huge impact on the in-store shopping experience, which is very convenient for customers. Technology can not only tell retailers what to sell, it can also tell them how to sell and how to keep it selling. The retailer should have computer system skills as many stores are implemented in automatic ordering system which helps them to order things quickly. Database marketing allows the retailer to develop programs that provide continuous intelligence ba... middle of paper.... ..rs from the most loyal to the most disinterested is critical. Also in the article Mr. Wright says, “He understands that customers are sensitive to privacy issues and has designed a product that cannot track individual identities.” I think retailers should be loyal to customers as some customers are loyal to them. These customers often shop in the same store. They will not like being monitored. Personally I wouldn't want this type of technology used in stores because it's a privacy issue. Many times these customers actively search for a more acceptable alternative. You too, there are other ways to find out how many customers shopped today and how much they spent through the store database or through credit purchases. Therefore, the final challenge would be to plan for the available data on your customers' purchasing patterns.