Retail automation means automating the retail store. The process includes selections and usage of computer software and hardware for automating the store processes like merchandising, processing, back office procedures etc.
Because of the wide variations in the growth of the retail industry, large retailers influence the market a lot. This growth in the retail industry has been developed because of the technological advancements in the industry. Some of the technological advancements include electronic cash registers (ECR); electronic funds transfer (EFT), Point of sale terminals (POS), and wireless equipments. Because of the advancements, productivity has increased and makes the operations of the retail system faster.
Current money transfer equipments which are used for transferring the money from any country within a few minutes are the results of the technology advancements of the retail automation.
EFT’s can be used for shopping without a single rupee. And even online payments are also the results of the retail automation. For satisfying the needs of the customers, POS terminals are used.
Electronic cash register is used for tracking the record of the customer sales, and also the amount paid instead of remembering the day to day sales of all the customers.
Day to day transactions are being done in the easier way using the retail automation. Even in the case of hospitality services this retail automation is used like heart beat measurement, blood pressure measurement etc.
Thus, the emerging trends in the retail industry will help a lot in improving the services of the customers and increasing the standard of living.