Monthly Archives: April 2024

Mobile Shopping Is The Future Of Retail

Posted on by

Technology is changing the shopping habits of buyers. Compete recently conducted a survey that reported a rapid increase in the number of people using their mobile devices for shopping. In fact, half of the population using smartphones and tablets are being converted into mobile shoppers. And it is just not the convenience of mobility that encourages buyers for mobile shopping as a considerable number of consumers do mobile shopping at home.

Based on the buying trends of the people, it is predicted that mobile market is expected to hit $1.5 trillion in 2013 and the figure is mostly likely to double in 2017, reaching more than $3 trillion. There are various technological developed that contributed to the growing popularity of mobile shopping.

One of such technologies is the image recognition technology that allows buyers to shop for items using their mobile devices by snapping a photo. All you need to do is take a picture of the item you want to buy and the technology will recognize the image and will take you to a website selling the same product. This is one of the main ingredients of any augmented reality retail shopping and is making mobile shopping a popular trend. Image recognition is also using 3D objects these days, though it was initially limited to product catalogues, TV ads and print ads.

The mobile apps, specifically the augmented reality apps for smartphones and tablets, have also proved beneficial for m-commerce. These augmented reality apps put an individual picture on the product, which the buyers need to scan using the app. In return, the augmented reality app will provide information about the product including its ingredients, prices, manufacture and expire date as well as information about its quality, user reviews and other additional data. Brands like Sephora triggered 150% growth in their mobile shopping using such AR technology.

Mobile shopping can also be benefitted by online brand engagement. Many retailers and m-commerce companies are using the mobile version of social media channels like Facebook, Pinterest and Twitter to promote their product offerings to empower brand value. They use tools like opportunity for comments, “Like” buttons and pictures to grow brand awareness.

Thus it is clear that it is worth investing on mobile applications. More than half of the mobile shoppers install at least a shopping application on their tablets and smartphones and many of them using more than one application. And among these shopping apps the most popular are the mobile shopping retailer apps, coupon applications and loyalty card organizers.

Thus, retailers must focus more on creating killer mobile applications for better sales and growth in their m-commerce. And while developing applications to facilitate mobile shopping experience of their consumers, they must make sure that the app is unique. Instead of mirroring your main site, offer some exclusive content through your app to encourage your buyers to download them and use them again and again. Also, the app should be simple and easy to use. Add push notifications to your app and make it social by integrating popular social platforms. Finally, to allow more interaction with your m-commerce site, link the augmented reality app the in-store activities.

Impact Of Retail Management In The Growth Of Indian Economy

Posted on by

Retail Management aims small and middle retailers in quest of automating their stores. Retail Industry is one of the greatest shifting and vivacious industries in the world. It has added to the economic expansion of many countries. Retail Management is an imperative element of the business industry that engages retail marketing and services to customers for their personal or family use. Retail industry in India rumbled in 80s and within a squat duration of time, retail sector in India has been rated as the 5th most conspicuous, striking and promising retail marketplace in the world. With the incredible augmentation of economy, Retail Management has appeared as one of the best ever mounting careers in India.

The massive development in the retail sector since past few years has unnerved a gigantic demand for trained professionals in the sector. It is an industry in quest of people at all echelons. One can engage in a job depending on ones own ability and interest, in view of the fact that retail industry is an assortment of actions initiating from advertising to branding. This crafts Retail Management one of the most sought after careers in India. Recent retail has penetrated India as seen in rambling malls, complexes and shopping centers proffering entertainment and shopping all under a roof.

Retailing set – up: Comprehensive outlook

Consumer – Centric

Internationally, Retail Management is consumer – centric with prominence on modernization in processes, services and products. The retailing sector in India is at an inflexion peak where the intensification of structured retail and escalation in the utilization by Indians is going to take up an advanced growth trail. The Indian population is observing a momentous revolution in its demographics. A large youthful working populace, nuclear families residing in urban regions, together with escalating working women inhabitants and budding prospect in the services segment are going to be the key expansion drivers of the premeditated retail segment. The association of retailers arrives at every alcove and curve of the country. So any product formed wherever in the country can be effortlessly contacted by the buyers from any place. Thus the spatial expediency of Indian dealers is elevated.

Technology- Concentrated

Retail Management is a ‘technology- concentrated ‘ segment. Victorious retailers nowadays work strongly with their merchants to forecast consumer requirement, abridge lead times, lessen stock investment and thus, save cost. Retailing Management is at a blossoming phase in our country. Nowadays, online systems connect point of – sales workstations to the major workplace where thorough scrutiny on sales by article, categorization, vendor or stores are agreed out online. Besides perceiving what was acquired and by whom, information on placid matters such as psychographics and demographics is taken into consideration.

Retailing method engages an unswerving edge with the client and the harmonization of business actions from the design phase of manufactured goods to its release and post – delivery service. In general, retail industry can be categorized into numerous categories depending on their shape, size, product lines, service proffered and prices charged etc. Some amongst them are supermarkets, specialty stores, malls, franchises, factory outlets, discount stores, chain stores, personal products, lifestyle, groceries stores and furnishing household appliances etc. With the prologue of open economy chased by roar in consumerism in India and enlargement of planned retailing, the souk had immense hope from retail sector both in terms of expansion in business and in generating job prospects. Numerous institutions present Retail Management courses with an optimism to pull towards themselves a great number of aspirants who are enthusiastic to discover their career in the field of retailing.