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Topic : Dynamics of Retail Marketing
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Retail & Supply Chain Professionals

 
Started by : Shailena Varma, Logistics Manager, Target   11 07 2008 14:19:16 +0000
Industry : Retail Chain/LogisticsFunctional Area : Innovation(Strategy & Execution)
Activity:  47 views;  last activity : 07 06 2010 20:18:09 +0000

The innovation in retail industry is mainly happening in the form of IT innovation. The IT innovation revolution in retail is steadily taking shape in India. The process is such that it has the potential to change the way in which we purchase even the basic necessities such as groceries and vegetables. Innovation is happening not just at the backend, but also at the customer end. It’s taking place all over, right from where the customer enters a store to the point where he leaves. This essentially covers the whole process of buying of products, right from selecting to decision making and paying at the checkout counter. so what are the innovations happening.

 
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1 2 3 4 5
1 Mobile point of sale
2 Customer identification using RFID
3 E catalog based selling
4 Digital signage
5 Intelligent database

Mobile point of sale

idea posted by Akhilesh Majumdar Logistics Manager, Tesco

This would enable the purchase of goods while putting them in a shopping cart itself the customer will not be standing all day in the line just to get it checked,the hassle of standing in long queues will be no more.

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by Gaurav Sharma, Business Analyst  | 06 12 2009 17:43:20 +0000

I truely support ur idea but than once something is added to the shopping cart and at a later stage customer changes his mind than how will you reverse the sales and add the stuff back to inventory? Many a times barcode needs to be manually keyed in, how the same will be handled?

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Customer identification using RFID

idea posted by Shailena Varma Logistics Manager, Target

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

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by Gaurav Sharma, Business Analyst  | 06 12 2009 17:33:25 +0000

RFID is an expensive things.Moreover many a times customer shops for his friends/relatives.How will the salesmen able to read the mind of the customer???

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E catalog based selling

idea posted by Vijay Sharma Logistics Manager, Reliance retail

Here a limited range of merchandise is available in-store, while the range of a hyper format is made available through self browse kiosks

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Digital signage

idea posted by Sudeep Tarafdar Senior Consultant, IBM

Static signboards have not proved to be beneficial in terms of helping a customer track a product, so digital signboards are integrated with an automated tracking system which makes it more easier.

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Intelligent database

idea posted by Amit Madhav Senior Consultant, GKC

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

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