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Retail cashes in on technology

01.01.70

The Australian retail sector has been doing it tough of late with the triple whammy of a strong dollar, consumers increasing their purchases from overseas-based online retailers and the two-speed economy.

In an effort to keep afloat many retailers are turning to technology as a means to innovate and are increasingly retaining, and in many cases, winning back customers.

The in-store retail experience is being overhauled through the use of technologies such as self service checkouts, faster ticketing and Tap and Go payments. The online experience has also been overhauled and social media is increasingly being used to improve customer service and build customer loyalty.

Despite the protestations of high-profile retailers such as Harvey Norman's Gerry Harvey, the future of retail is looking brighter according to major retailers.

Myer

Department store giant, Myer, identified a number of years ago that technology could play a meaningful role in improving the operations and performance of the company.

Source: IDG News Service

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