RETAIL

TECHNOLOGY
MANAGEMENT

END- TERM
ASSIGNMENT
Faculty: Mr. Bharat Jain

Topic: Develop a framework of new

technology for retail
By: Anchal Aryan
(BFT/19/490)
INDEX
1. Introduction

2. Importance Of Technology In Retail

3. Influence Of COVID- 19

4. Retail Order Management System

5. Ideation and Conclusion

6. References

2
INTRODUCTIO
N
 Retail is the process of selling consumer
goods or services to customers through
multiple channels of distribution to earn a profit. 

 The rapid advances in digital and automation

technologies have led to new developments in a
number of industries, the retail industry being
one of them. From check-out to inventory
management, fulfillment to in-store facilities,
retail technology includes the implementation of
innovations and digital solutions in retail and e-
commerce processes.
3
IMPORTANCE OF TECHNOLOGY IN RETAIL
• Technology has certainly become very influential in the retail industry in the last
decade. Consumers are now more inclined to pick up their smartphone to search and
buy products online, rather than go to a retail shop. However, the traditional retail
shop is still a high priority, and it is important they keep up to date with technological
advancements in the industry.
• Customers’ expectations have also changed dramatically, with the majority expecting
a seamless, fast paced shopping experience, be it online or in-store. Customers no
longer want to spend hours browsing in shops. Instead, they want a fast and efficient
approach to shopping, both in-store and online.
• Using technology in retail, it is now possible to control all of your business
operations from a single dedicated system or even from multiple systems across
locations.
• Retailers are beginning to notice that technology’s role is one of an enabler.
Essentially, information technology can speed up processes and deliver cost saving
benefits to the company. 4
INFLUENCE OF COVID-19

• According to a recent report by Retailers Association of India, around 25 percent of

retailers will have to infuse capital to remain and survive in the business. The market
sentiment right now points to a slow and painful recovery.
• Data-driven insights are essential to make prudent operational decisions and demand-
forecasts. Deploying retail analytics solutions will provide a 360-degree view of
customer preferences across different products and services categories.
• In-store, the experience would have to adapt to the social distancing and sanitary
norms. The store layouts would have to be more spacious and would have to move
away from the practice of maximum stocking. Customer and employee safety would
continue to be the top priorities.

5
Continued…

• In April, May and June, online sales grew by more than 100%, dipping slightly to 81% growth
in July and 72% in August, according to the BDO High Street Sales Tracker. In addition, 42%
of consumers surveyed during lockdown said they would shop online more frequently when
restrictions ended, according to ChannelAdvisor and Dynata.
• Using video – which the pandemic normalized for many of us during lockdown – to connect
customers at home with experts in store allows them to have 1:1 conversations and ask
questions about products. This gives customers the confidence that they are buying the right
thing online.
•  From check-out free to touch-free shopping, merchandising to transactions, technology will
accelerate the industry reducing physical interaction. Retailers should look at permanent
technological innovation in the form of apps, automated replenishments, electronic rewards
programs, crowd control measures, contactless shopping and touch less technology.
• Going forward, keeping in mind the health and safety of employees and customers should be
the utmost priority among retailers and developers alike. Improving the hygiene and safety
precautions along with stringent adoption of sanitization and social distancing guidelines will be
key in winning back customers’ confidence.
6
 RETAIL ORDER MANAGEMENT
SYSTEM

• Without a proper management system in place, the simple things like keeping records
of your sales, stock and customer service can become a nightmare. With a retail order
management system, it will save significant time and money by automating a lot of
tasks that originally had to do manually.
• Access to the stock live both from online and in-store. One can see with the touch of
a button, who the least sellers and best sellers are, so can easily manage their
inventory control month on month, so that there is no overstocking of items that
don’t sell.
• They can have access to hundreds of data analytic reports to help the business run
smoothly. They can manage the purchase orders, sales, warehousing, deliveries and
dispatch, as well as keeping a full record of customer details, and a populated heat
map showing what locations the customers come from.
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8
IDEATION

9
IDEATION
• Based on the present COVID-19 scenario, the global trade and supply chains
are going through an unusual and massive shock. Grocery retailers are dealing
with a significant out-of-stock situation on many key products as consumers
hoover up supplies perceived to be essential.
• As the ability to manage demand has never been this important, implementing
multi-scenario planning and real-time operations can help companies to
manage the dynamic demand and also predict the future flow.
• Businesses should leverage big data analytics to transform their supply chain
operations. By using big data, the unstructured real-time data can be turned into
insights and predict disruptions.
• This allows companies to have relevant and actionable information at their
fingertips to react quickly and focus their attention on communicating with
customers and suppliers effectively. Strengthening their global supply chain can
help them to successfully maintain business continuity post COVID-19. 10
IDEATION Retail Technology Impact on Customers Impact on Retailers

Shopper’s Shopper’s
Retail Technology Profit
Perception Reaction

Increased
Satisfaction
Services
Trust
Convenience New Customers
Loyalty

Generalized 11
Framework
 Inspiration: College RC

Amidst the pandemic not just the retailers but the also customers don’t prefer crowd
at the regular stores. Unnecessary gathering of people can not only be a loophole in
IDEATION
social distancing, but also increases the chances of mass spreading of the virus. I
proposed my idea which can not only take care of the above mentioned issue, but
also can help the customers to save their time and safety.

Just like our college RC lets us know if a certain book is available or not and if yes,
its exact location online similarly, we can install screens at the doors of supermarkets
or grocery marts where the customer can know if the product they are looking for is
available or not. For example, I visit a store and I am looking for Tomato Ketchup,
before entering the store I can check out at the entrance itself if its available or not.
This way I could avoid my time wastage of going inside the store, checking every
self and at the end finding that the shop is out of that product.

The screens installed could be really helpful in such situations. They can let us know
the exact shelf no. and aisle no. where we can find the available product. And if the
item is unavailable, it can also suggest us the next nearest store where it can be 12
found.
IDEATION
Impact on Customers
• Time saving
• Convenience
• Brand Image

Impact on Retailers
• Re- stocking inventory
• Profits

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 The information is
The desired displayed on the
product is typed in screen and the
the machine at the customer can act
gate to check if it
IDEATION
accordingly.
is available or not.

Data/ Data/
Information Processing Information
input Output

If the product is available, the screen

shows the exact shelf no. and aisle no.
And if the product isn’t available, it
refers us to the nearest store where one
can find it. 14
 FUTURISTIC GOALS

• If this technology can imbed its roots deeply, apps and websites can also be
designed so that customers can get out of their homes only when they are
certain about its availability.
• More promotion to digitalization is possible.
• This feature can spread its arms to every industry.

15
 Conclusion
• A good Point of Sale (POS) system can allow you to quickly gather customer information,
view live stock across stores, take transactions, and provide digital marketing.
•  This is essentially a base product that every retailer aspires to have in-store to allow for
seamless transactions between customers. A fast POS ensures a smooth interaction with
the customer, to rapidly gather customer information, giving more time to build rapport,
and all in mind of improving the customer experience.
• No matter how big your retail business is, a website and social media presence can be a
very powerful tool in this digital era. It’s a great platform to be able to promote your
business, to tell your story, sell your unique selling points, and give people a reason why
they should buy from your retail business.
• Consumers are quicker to check up a website and social media page than they are to drive
to a store.
• Technology and software have a valuable place in the retail industry. They are pivotal
elements to keep up with digital consumer demands. It is important to evaluate your
business and incorporate technology and software which will enhance your retail store for
future growth and success! 16
 References
• https://www.nirico.com/the-importance-of-information-technology-in-the-retail-sector/
• https://www.ordorite.com/importance-of-technology-in-the-retail-industry/
• https://www.primaseller.com/blog/importance-of-technology-retail-industry/
• https://www.indiaretailing.com/2020/06/02/retail/covid-19-role-of-technology-in-smooth-
resumption-of-retail/
• https://www.computerweekly.com/feature/Covid-19-How-retailers-are-using-technology-t
o-respond-to-changing-shopping-habits
• https://www.indianretailer.com/article/technology/back-end/how-technology-will-take-a-f
ront-seat-in-the-retail-industry-post-covid-19.a6594/
• https://www.cbre.co.in/en/about/content-feeds/cbrealty/articles/emerging-trends-and-oppo
rtunities-for-retail-in-post-covid-19-world

17
THANK
YOU!