Technology in Retail - the Impact of Technology

It has been said that in this fast-pace, moving world it is hard for the average person to keep up. Changes in trend and technology occur daily. One would be stretching the truth to say that they are on top of those changes. The retail business or environment deals with the two changes in trends and technology on a daily basis. This paper will address how the retail business or environment utilizes technology; how the retail business or environment and its customers are impacted by technology; and what are the most critical technologies in retail today.

Utilizing Technology

Retail businesses have come to recognized that if they do not adapt and use technology to their advantage, they may not be in business at all. While re-branding is a way of sparking a business, businesses should plan carefully. If a business does not incorporate today's technology into the marketing and operating aspect of their business, a business' customer base will likely not increase and in some cases it may decrease.

Businesses are using computers and the internet to run and advertise their businesses. Computers or computers systems are use to track inventories, sales, trends and employee information. Websites for businesses are being use for advertisements of sales, coupons and on-line sales. The on-line sales use electronic transactions technology to process the products and money exchange.

The Impact of Technology

The impact of technology works to the advantage both the retailers and their customers. Businesses that go on-line open up new avenues of income and invites new customers. Customers have felt the impact of a down economy and are using technology to find what they need via the internet to save money so they don't have to travel from shop to shop.

Critical Technologies

E-commerce and the internet