1. Technology in Retail

2. Fashion Marketing Workbook
Read pgs

3. Technology in Retail Merchandising
Describe benefits of technology in retailing
Describe digital pricing and inventory systems
Compare advantages and disadvantages of electronic payment to the retail establishment
Characterize how technological changes impact a retailer’s perceived image
Describe various forms of digital retail technology (e.g., Internet, cellular, rewards cards, social media)
Compare advantages and disadvantages of “brick and mortar” versus online businesses

4. Describe benefits of technology in retailing
QR codes

5. QR codes
Provide the consumer with more information on the product before they make their purchase.
Allows them to make the purchase right from their phone.
Retailers can target engaged shoppers

6. Describe digital pricing and inventory systems Digital Pricing – a strategy to stay competitive and current in the digital marketplace

7. Inventory Systems - the software used to plan and track inventory balances and activities.
Disadvantages
Reports rely on accurate input of data
Reliance on technology
Fraud/intrusions
Advantages
Speed and efficiency
Report generator
Timely data

8. Benefits Saves time Convenience Mobility Anonymity Privacy
Compare advantages and disadvantages of electronic payment to the retail establishment Electronic Payments
Benefits Saves time Convenience Mobility Anonymity Privacy
Risks
Fraud
Account creation to use online payments
Availability around the world
Currency value match-up

12. The “face” of retail Technology is evolving
An ever increasing # of technology devices are being adopted at an increasingly fast rate by consumers.
The world of customers is more dynamic and interactive with 86% of consumers using their mobile or smartphone for internet access on a daily or weekly basis.

13. How is technology used in retail?
RFID (Radio Frequency Identification)
 A data collection technology that uses electronic tags for storing data.
The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna.

15. Brick and Mortar vs. Virtual store
List some benefits and advantages of both.