Progress Through Partnership: Retail and Distribution No. 15

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Language: English

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With the economic factors, it is concern with the nature and direction of the economy in which a firm operates. Another focused strategy might be to concentrate on the premium segment. Also, demand is currently increasing as homeowners begin home-improvements which were set aside during the economic slump and the bursting of the housing market bubble. Other trends affecting the retail industry come from an increased use of newer technologies that make marketing and customer service faster and more accurate: IT departments at retailers are dealing with an increasing variety of technologies designed to help their employers better collect information from customers and better understand what the information means in terms of profits; radio frequency identification (RFID) technology allows retailers to track inventory with a precision never before possible, and eventually, to do things such as transmit product information for consumers to view as they walk around a store and change the prices of products already on the shelves instantaneously.

Pages: 66

Publisher: Stationery Office Books (December 1995)

ISBN: 0114301298

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