Technology Changing The Retail Industry

1856 WordsNov 30, 20168 Pages
Technology Changing the Retail Industry For my topic paper, I chose to follow the retail industry throughout the course of the semester. I chose to focus specifically on the larger department stores such as Macy’s, Dillard’s, and Nordstrom and through my research I found that a concern in the industry currently deals with the changing technology and consumers preference to shop online rather than in actual, retail stores in the mall. Throughout this paper, I will discuss the causes, the impact that this has on the industry, and what this means for the future of the industry. Technology and online shopping has impacted the retail industry in a huge way within the past 10 years, especially as we are nearing the holiday season. Consumers prefer to shop online rather than in crowded malls during the holidays, and this has an impact on retail stores that has forced them to revaluate the way that they run their operations. According to the article “The Future of Retail: A Perspective on Emerging Technology and Store Formats,” Retailers have faced several challenges as they try to adapt to the changing technology, and consumers preferences towards convenience and efficiency. The article discusses how technologies are affecting trends in retails such as: increases the popularity for online shopping, use of social media for product reviews and instant feedback for products, as well as instant access to price comparisons in order for consumers to price match against various
Open Document