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Essay On Retailing

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In today’s world, retailer’s needed to identify and quickly respond to trends and challenges. This article relates to how a retailer faces new challenges and trends. Retailers plan so many new things for the future to some how calculate customer’s behavioristic data. Information about customer’s buying activities, for example, most retailers attempt to determine information such as the time that most customers make purchases or the average amount of the purchases. Significant that knowledge can help buyers confirm they have enough amount of merchandise where and when customers wants to purchase it. They must develop strategies in response to use those changes. Retailing is being so modernized, to get success in retailing will require a clear vision and strong decision makers to see the clear picture of the future. In this article, they are thinking of counting people as they entered in a store using Wi-Fi-tracking system. For example, what time they come in and how long they stay in the store. Retailers should position themselves as shopping destination not a place for customers to just roam around the store. Merchandising decision play a key role in making stores a shopping target for customers. Buyers must recognize trends that are currently developing in retail industry. Technology has a huge impact in in-store shopping experience, very convenient for the customers. Technology cannot only tell retailers what to sell, it can tell them how to sell and how to keep it sold. Retailer should have the skills of computer system as many stores are implemented to automatic ordering system that helps them order things fast.

Database marketing lets retailer develop programs that provide on-going intelligence ba...

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...rs from the most loyal to the most uninterested is critical. Even in the article Mr. Wright says Mr. Wright says, “He’s aware that customers are sensitive to privacy concerns and has designed a product that can’t track individual identities”

I think retailers should be loyal to customer as some customers are loyal to them. Those customers frequently shop at the same store. They will not like it if they are being tracked. Personally, I wouldn’t like this kind of technology to be used in stores because it’s about privacy. Many times these customers are actively looking for a more acceptable alternative. Even thou, there are other ways to find out how many customers have shopped today and how much have they spent through stores database or from credit purchases. Therefore, ultimate challenge would be to plan a data available about your customers shopping patterns.
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