Information Technology in Retail Sector

Aruna R. Shet

Abstract: The increasing globalization of retailing, constant connectivity, contextual relevance, and a multi-screen world are changing both online and offline shopping. As the in-store experiences blur, it is opening up exciting new possibilities for forward-thinking retailers. Today?s retail business is highly dependent on information and if barriers are not met, a thriving business will soon be doomed (Mansoory and Mehra, 2010). Today, the information technology (IT) investment in the retail sector has increased significantly. IT plays an important role in the management of complex retail operations. Market knowledge, as well as control of data and information is essential to obtain a competitive advantage in the retail sector. Today?s consumers are well updated than ever and they shop to greatly increased expectations for service and price. Retailers are beginning to notice that technology?s role is one of an enabler. Essentially, information technology can speed up processes and increase sales, improve customer retention rates and deliver cost saving benefits to the company.

Keywords: Information Technology in store, Retail trade, Innovations, Customer Satisfaction, Cost benefits.