High-Tech Changing Retail Merchandising Practices

Here’s a good take on the evolving use of technology in retailing by Erik Sherman, writing for Inc.: “The retail industry is undergoing significant changes in the merchandising process — at least, so says a recent survey by RSR Research. The best of the national performers have picked up on a crucial strategy: Target your store’s selection of goods to the needs and interests of specific communities. It’s better for sales and for controlling costs. The savviest retailers know this and they’re using technology to help give them edge. According to the survey, firms that outperform industry averages for annual same-store sales comparisons tend to use and understand specialized computer software tools to manage specific aspects of merchandising.”
Click the chart for Sherman’s full story.

 

 

This entry was posted in Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Technology in Retailing and tagged , , , , , , , , , . Bookmark the permalink.

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