Retail in mis

Presented by:-Tripti Upadhyay

IT in Retail Sector

04/11/2023 1IT in Retail Sector

2IT in Retail Sector

Retail means selling goods and services in small quantities directly to customers.

Retail word is derived French word retailer means to cut off a piece.

The Indian retail market is the fifth largest retail destination all across the globe.

It has been ranked as the most attractive emerging

market for investment in the retail sector in 2009

Introduction

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Retailing in India was at opening stage in 1995.

The entire Gross Domestic Product (GDP) of India, the share of retail trade was between 8-10 per cent in 2007, it touched around 12 per cent in 2009 and is expected to touch over 22 per cent by the end of 2011.

The value of India's retail market has touched US$ 511 billion in 2008.

India's retail sector is estimated to touch US$ 833 billion by 2013 and US$ 1.3 trillion by 2018, with a compound annual growth rate (CAGR) of 10% - which is quite lucrative.

The Indian consumer (retail) market, in all probability, will grow four times by 2025.

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Indian Retail Market Overview


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Future Group(Pantaloon) Reliance RetailAditya Birla Group(More)SubhikshaBig BazaarTata GroupBharti MartHeratiage Group

Indian Major players ( in Retail)

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Reliance Fresh Reliance TrendReliance AutomobilesReliance footwear….etc

Reliance Retail

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Vision:- To generate inclusive growth and prosperity for farmers, vendor partner, small shopkeepers and consumers.

Successful organized retail company in India that Materially enhances the quality of life of every Indian.

MISSION:- Growth through value creation.

QUALITY POLICY:- To deliver the best quality to the customer at lowest price.

Over Target Turnover - Rs. 100,000 Cr. by 2010

VISION, MISSION AND QUALITY POLICY(Reliance Retail)

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Innovation is happening not just at the backend, but also at the customer facing end. It’s taking place all over, right from where the customer enters a store to the point where he leaves.

Computerized billing- Accounting, Billing, Value Added Tax (VAT), Income tax.

Bar code reader, sensor..etc

IT in Retail sector (R.Fresh)

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Operational efficiency through better management of supply chain, inventory and store.

Improved productivity through automation, e.g. use of POSEnhanced customer experience through use of kiosks,

mobile POS, digital signageConsistency in business processTransparency in business process Increased ROIEasy tracking of inventory and leakageEnables cross selling other productsAllows performance management across locations,

categories, etc.Extends geographical reach

Advantages conferred by IT

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Customer identification using RFID: This involves identifying customers by issuing them smart cards embedded with smart chips. These cards would be RFID enabled and would give information regarding the customer like his preferences, shopping behavior etc.

E-Catalog based selling: Here a limited range of merchandise is available in-store, while the range of a hyper format is made available through self browse kiosks.

Key Innovations

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Mobile Point of Sale (POS): This would enable the purchase of goods while putting them in a shopping cart. The customer would be spared the hassle of standing in long queues.

Digital Signage: Static signboards have not proved beneficial in terms of helping a customer track a product. Digital signboards integrated with an automated tracking system can make this easier.

Intelligent database: A detailed database of the customer is made available online and helps the retailer understand a particular customer’s buying characteristics.

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Extended Announcement System / Extended Area Service(EAS) is designed to help retailers prevent losses due to external theft - India's most significant challenge impacting retailer profitability and inhibiting future growth. Employee theft represented the second largest source of inventory loss at 20%.

Current technologies

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Radio-frequency identification (RFID) –

Active tag-

Can be read from long- range distance of more than 100 feet.

Passive tag- Can be read from short- range distance of approximately

5-10feet.

Future Technology

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Merchandise for sale (with tags being applied to individual items)

Store property (shopping carts, computers,etc.)

People (shoppers and employees identified by their RFID tagged Loyalty cards, badges, uniform,etc)

RFID – Level of application

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Warehouse and distribution productivityRetail and point of sale productivityImproving customer servicesShrinkages reductionPromotional execution improvementCapital asset tracking and management

RFID- Benefits

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E-Retail- an E-trailer is a retailer that primarily uses the internet as a medium for customer to shop for goods or services provided.

pure plays e.g. dell , amazon.com

E-Retail

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End use product customizationsComparison shoppingContextual shopping helpVoIPData feedsPodcastsAggregation mechanisms

Features on E-retail websites

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M-commerceInclusivity Normalization Diversification Sophistication Exclusivity

Future of E-retail

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Solutions For services sales and marketingComplete management of physical assets and

infrastructure including procurement, installation and start-up

Sales and operations planningPromotion optimization app- to make more informed

promotion decision, forecasting, assess, business values

Markdown optimization app-exact frequency, timing and depth of market clearance, pricing or markdown

services

SAP

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Oracle retail-analytics based application

Bi-fusion reporting and data warehousing

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Trends signaling the futureFujitsu inventions for retailSelf-checkout systems. electronic self-

labeling and fraud detection system.U-scan-the worlds mostly widely used self-

checkout systemLoss prevention softwareRetail direction software- end to end pos and

retail merchandisind management platform for specialty retailers

The Future is here!

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Zebra Technologies- Palm-size mobile receipt printer

An unattended delivery services

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Business

Retail in mis