The retail sector consists of businesses selling finished goods to consumers in exchange for money. Retail goods can be sold through stores, kiosks, or even by mail or the Internet. Retail businesses can include grocery, drug, department and convenience stores. Service related businesses such as beauty salons and rental places are also considered retail businesses.
Overall there are two categories of products in retailing industry:
Hard - These types of goods include appliances, electronics, furniture, sporting goods, etc.
Soft - This category includes clothing, apparel, and other fabrics.
For being ahead of competitors each retailer tries to differentiate itself. However, in this situation the strategy company uses to sell its products is the defining factor. Here are some different types of retailers:
Department Stores - Very large stores offering a huge assortment of goods and services.
Discounters - These also tend to offer a wide array of products and services, but they compete mainly on price.
Demographic - These are retailers that aim at one particular segment. High-end retailers focusing on wealthy individuals would be a good example.
Due to the globalization of retailing, the sector becomes more complex both in terms of their points-of-sale and points-of-supply. This factor has significantly decreased the role of information technology (IT) in the industry. IT actively and constantly assists in the management of hard retail operations.
There are multiple reasons why retailers need to shift their IT capabilities. First of all, it increases the company’s ability to react to the developing marketplace by risen speed and flexibility. It helps to collect and analyze customer data. Surely, it results in more effective work. Retailers need a working system across stores to make sure that stock is being effectively used and business processes are evolving. It is obvious that IT can speed up processes and benefits to the company by cost savings.
BITE Consulting Services offers latest IT solutions for your retail businesses. Our solutions are capable manage not only your front-store but warehouse as well. These technologies will help you to speed up the purchase process, ease the clients’ interaction with the products and increase productivity. The systems we present for the warehouse have the capacity for cost and time savings.