Retailers look to IT

Retailers and distributors use technology to improve customer service, optimise inventory, and maximise profits, states Baseline Magazine.

Recession-weary retailers, in an effort to gain a competitive edge, are investing in new point-of-sale technologies and Web applications to improve customer service and enhance the shopping experience.

They're also implementing software to forecast sales and improve inventory levels. The results include cost savings, higher profits, and assurances that they have the right amount of inventory to meet customer demand.

BIRetail, which offers retail business intelligence (BI) solutions, has showcased its BI products at RetechCon 2009 in order to address the Indian retail market, reports India Retailing.

Retailers Association of India has organised ReTechcon in Hertfordshire, UK, to provide a platform for retailers to interface with retail technology vendors or service providers.

The fifth annual retail technology conclave was attended by over 600 delegates and provided retailers an opportunity to meet, interact and network with technology vendors and service providers, industry experts and retail professionals.

As more people start paying for goods and services using their phone, rather than a credit card, they are venturing into that ethereal netherworld that is 'beyond PCI', in this case, literally, as their daring actions challenge the payment card industry to drop 'card' from their name, writes StorefrontBacktalk.

As the mobile payment wave has hit Asia and Europe, the payment networks, major banks and international retailers have not been the leaders of the revolution.

Instead, the wireless service providers, cellphone manufacturers, and emerging mobile payment specialty firms, working with mostly e-commerce merchants, have taken most of the risks and are reaping the rewards (if any).