Technology is a core part of the retail sector in the recent times. However, it does pose challenges in effectiveness and advantage (Choski, 2015). It requires expertise of people and quick understanding and development of suitable strategies. The accessibility of the technology has made things easier for retailers as well as customers. Many retailers have benefited on the following areas – cost cutting, quality improvement, just in time ordering, point of sale systems, business re-engineering and electronic shelf labels. Perhaps, the supply chain has become even accessible as technologies have driven the suppliers with the retailers through a common platform. One such example is the CRM system that is meant to manage the customers as well as the intermediaries involved in the supply chain process (Finne and Sivonen, 2009). The internal resources of the brand ensure close association with both the ends to achieve efficiency and profitability.
An example to state the implication of technology is the strategy deployed by Samsung. For every usage of Samsung Pay app, it ensures $50 Best buy gift card to its customers. This has created a good traction towards the product and the brand. Another initiative taken by a retail brand is Domino. The brand has tried to launch an easy order app in UK where the customers can use the physical button to have the product delivered at the doorstop (Maltoni, 2014). The platform is linked to other areas such as smart TV, twitter and connectivity to car for voice recognition and product ordering.
The ideas stated above are not only innovative but also revolutionary. They demonstrate the possibility to make huge returns if the strategy is deployed in the right manner (Falk et al, 2005). Several customers have the habit of studying personal reviews of others about a product or a location before they actually visit. In such cases, social media and other sites that rank well in Google search are displayed. This insists the option for retailers to use SEO and Google Adwords techniques to maintain the reputation and spread positive image across the target locations. Mobile shopping is now trending throughout the world and this calls for a responsive app or a site through which the communication happens in one tap.
It is highly essential to design the experiences carefully. Customers perceive exactly in the way it has been portrayed and it is impossible to predict their decisions based on the design. However, few brands like Burberry have tripled their returns just because of their design and study of consumer analytics followed by adoption of technologies that are commonly used by customers. This has made the brand widely recognizable in the world (Maltoni, 2014). It assures of sustainable profits to the firm and this is a predominant way by which many retailers benefit today in the global marketplace.