Technology and Its Impact on Retail Stores

2008 Words9 Pages
Technology and its impact on Retail stores The owner of a top retailer wants to see which merchandise is selling which isn’t, or maybe the owner wants to know their overall margin costs in relationship in to which products on their shelves are more profitable then the others. In the not so distant past these types of reports would have required a lot of people, processing large amounts of data, and requiring lengthy delays in the results from weeks to even months. In the end, by the time the data was of any use it would have been out dated. In today’s markets, such retailer’s like Target rely on technology. With the current economy, and the number of business being forced to file for bankruptcy and ultimately closing their doors…show more content…
It wasn’t until 8 years later, in 1968, that Wal-mart expanded to open their first stores outside of the Arkansas borders in Missouri and Oklahoma. Currently, Wal-mart today, operates in 14 different countries. The international division alone accounted for 20% of the companies sales. In 2005, Wal-mart reported $312 billion in sales, more than 6,000 facilities world wide, of which approximately 3800 were in the United States alone, and currently employing about 2.1million associates world wide. When you’re talking about world domination, Wal-mart comes pretty close. Currently serving 100 million weekly customers, is difficult fathom this many people, but to put it in perspective this is equivalent to a third of the United States total population. Also, of interest is the target demographic of the Wal-mart clientele. The average US Wal-Mart customer 's income is below the national average, and analysts recently estimated that more than one-fifth of them lack a bank account, which is twice the national rate. A Wal-Mart financial report in 2006 also indicated that Wal-Mart customers are sensitive to higher utility costs and gas prices. Therefore, strategically placing stores in low to poverty stricken demographic areas, Wal-mart has capitalized its position by being conveniently located for those customers who have limited resources or the ability to travel to a other stores. With Wal-mart target clientele being on a limited financial means, the
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