Research and Markets: Technological Innovation and Future of Retail Industry - How will Consumer Adoption of Technology Reshape the Retail Industry?
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/z5stn8/technological) has announced the addition of the "Technological Innovation and Future of Retail Industry - How will Consumer Adoption of Technology Reshape the Retail Industry?" report to their offering.
“Technological Innovation and Future of Retail Industry - How will Consumer Adoption of Technology Reshape the Retail Industry?”
Report covers evolution of modern retail, effect of technology and emergence of omni channel retailing. The report also captures current issues retailers are facing while adopting omni channel and offers solutions to problems available through new Point of Sale terminals. The report also includes case studies of top retailers who have adopted omni channel retail.
The United States has a well-established retail industry. The retail industry has generated sales revenue of US$4.5 trillion from about 3.8 million retail establishments in 2013. Offline sales and online sales contribute to 94% and 6% of the total sales respectively.
The present objective of retailers is to remove the drawback in multi channel sales channel and build a robust sales channel which will help in boosting sales and gaining of lost market share. As a result, retailers are moving towards what is called Omni-Channel retailing. In its most basic terms, Omni-channel retailing means connected customers can shop for and purchase the same items across different channels. It can be in a retail store, through computer, through smartphones at any place and time. Omni channel will be an integration of technology and retail where the customer experience will be same while shopping through online or offline system.
However, Omni Channel retailing is not easily achievable. Systems will become more complex with the expansion of technology, as a result of which retailers will have problem in managing. Moreover retailers don't have a large workforce to analyze the enormous amount of data generate through traditional POS, mobile POS, self-serving kiosks, and online shopping to name a few. Additionally, a common ERP system would be needed to overcome problems of supply chain, inventory management etc. As a result, large numbers of technology companies have popped up to help retailers in building Omni-channel sales. In cases, we have also seen retailers planning to acquire technology startups to overcome the challenges associated in building an Omni-channel.
Key Topics Covered:
I. Executive Summary
II. Evolution of Retail industry
a. Traditional Brick and Mortar Retail
i. Market size - Past, Present and Future
b. Effect of Technology on traditional Retail and emergence of E-commerce
i. Emergence of Ecommerce
ii. Market Size - Past, Present and Future
III. Emergence of Omni Channel Retail
a. Issues with setting up Omni Channel Retailing
b. Role of POS terminals in Omni-Channel Retail
IV. Case Studies (Omni Channel success)
For more information visit http://www.researchandmarkets.com/research/z5stn8/technological