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Current Trends in Retailing
The retail industry over the past decade has been seen as the harbinger and an indicator of economic growth and spending power globally. It has transformed itself into global phenomena and has been a scene of constant change and innovation.
This growth has come along with some serious challenges whilst increased competition added by economic slowdown, which has had a negative impact on profit margins. The emergence of internet as a tool for communication and the learning’s from Dot Com failure has made the industry more cautious in its spending. Therefore the focus over the last decade has been on increased productivity, cost cutting at the same time having more enhanced focus on customer satisfaction and retention. The latest trends reflect the spending power, lifestyles, tastes, time available, geographies; loyalties etc. apart from these, there have been a lot of initiatives to improve the productivity and efficiency of the supply chain, better vendor management and efficient global operations.
 
The following are some of the recent trends seen in the industry and that have lots to offer to businesses and customers.
Integrated Multi Channel Retailing (IMCR)
In-store Operations
CRM Initiatives
Vendor Managed Inventory
Retail Analytics
RFID
CPFR
EDIINT
Well if you are interested in outsourcing software development or would like to find out more about our services and offerings, please get in touch with us. A senior member of our Business team will get in touch with you within 24 hours.
 
 
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