The Future of Retail Stores (DOC)

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THE FUTURE OF RETAIL STORES1NameInstitutionTutorCourseDate of submissionTHE FUTURE OF RETAIL STORESIntroductionDue to advancement in technology the business world is changing drastically. Many peoplenowadays prefer to shop from the comfort of their homes and offices. As such, retail stores needto evolve and adapt to the growing demand for online shopping. It is crucial for retail stores toestablish online shops in addition to the physical stores, to cater for the needs of their customersin a diverse manner. Online shopping has increased significantly over the years due to thepopularity of smartphones as well as the growth of internet use(Agrebi and Jallais,p. 19). Thispaper, therefore, focuses on Typo retail store and manner in which use of internet technologiescan improve its operations.Typo retail storeTypo is a gifts and stationery store started in the year 2009 in Australia. It offers a broad range ofcommodities ranging from gifts, stationery, décor items, flairs, homewares, DIY crafts, as well
THE FUTURE OF RETAIL STORES2as cards and wraps. Distributed in ten countries with over 170 stores. Recently, it opened anonline store that ships their commodities worldwide. Apart from the lately opened online store,customers have to access the stores physically and then purchase. However, due to improvementin technology, it is important for retail shops to move from being brick and mortar stores toonline stores.Internet RetailingIn the 21stcentury, internet usage has increased tremendously. The internet offers interactivity,and connectivity to both retailers and customers. It is essential, therefore, for retail stores to takeadvantage of the internet’s power and provide their customers with a new and exciting shoppingexperience. Online shopping gives the retail stores a competitive edge over their rivals. Physicalstores (high street stores) that have not employed technology in their operations are on the vergeof facing stiff competition(Doherty and Ellis-Chadwick,p. 951) from stores that haveestablished electronic shopping.Technology in retail operationsCustomers’ needs drive the manner in which stores carry out their operations. With advancedtechnology and smartphones, consumers now prefer to order for goods at their comfort anddelivery done. Therefore, buyers prefer out-of-store shopping to in-store-shopping. Use oftechnology in business operations offers numerous advantages to both the retailers and thecustomers. The customers can search for the commodity and find all the necessary informationbefore placing an order. On the other hand, the operations of the online stores are enhanced(Grewalet al., p. 2)as well as their decision-making process.
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