Emotionalizing Fashion Retail Norderstedt-Myassignmenthelp.Com

Question: Discuss About The Emotionalizing Fashion Retail Norderstedt? Answer: Introduction Big W is an Australian based discount chain retail store. Currently the store has 186 stores in Australia and Asia. It is the dominant biggest physical retail store in Australia. In November 206, there were speculations about its future that arose due to loses reported in August 2016. We are asking ourselves what happened? The case is they did not keep up with technology that was fast evolving and several competing company were switching to e- commerce. Future of Retail Stores According to Stra?hle, (2015), the needs and preferences of people in this generation when it comes to shopping are fast changing due to the speed at which technology is fast evolving and the perspective of businesses looks clearer now. It has become a necessity for retailers to either keep up with these changes or they will be shaped out. How will the future of retail store actually look like? Some key points are discussed below. Quicker and faster- consumers are shifting their preferences to quick and easy shopping. Convenience and speed will be the crucial and important features characterizing a top retailing. Personalization- this will be an essential distinctive feature in retail practices. Internet of things (IOT) has enabled many devise to communicate with each other and with other different devices. These devices are able to keep track on how they are being used and send these data to retailers in order to facilitate them identify customer preferences. Easy buy, easy pay- In the near future new technologies will facilitate development of payments modes which are more secure and fast. Organizations have been dealing with biometric data to facilitate secure payments through scanning of biometric features in future. The object is more or less similar; to enable shopping exercise faster, smoother and safer. (Klanten, Ehmann Borges, 2015). Use of social networks- retailing will start encroaching into social media platforms like Facebook, twitter and so on. Retailers will be able to add buy buttons on their social sites so as to enables customers to shop right there. This will facilitate the retailers to reach a larger group of people and this makes shopping experience more fun, social, convenient and easier. M-commerce- a lot of people currently are using smartphones across the world. This will facilitate development of mobile point of sale (mPOS) that will reach a greater number of consumers speeding up transactions. (Stephens, 2017). Conclusion Internet of things has taken shopping to another level. It has facilitated ordering and doing shopping whenever and wherever you are and products are delivered right at your door step. Online shopping has made shopping easy, convenient and fun. According to Cambron, (2014) there is no need to physically visit a store to buy your products. However, this mode of shopping doesnt guarantee product quality and in case of any technical failure on their website or any malpractice like hacking it can compromise the operation of the business at a greater impact. Recommendation Millennials are the biggest and fast growing group of consumers at the moment. Pro-active retailer should shift their energy to these group of customers because they form the largest market. Retailers like Big W should therefore, keep up with the fast evolving technology so as to meet the needs of these emerging consumer groups in future. This group of consumers have a tendency of being faithful to products and brands that mean the right principles including social responsibility, transparency and authenticity. If Big W and other retail stores keep this in mind, then their future is bright otherwise they will be shaped out Reference List KLANTEN, R., EHMANN, S., BORGES, S. (2015).The Shopkeepers Storefront Businesses and the Future of Retail. Berlin, Die Gestalten Verlag. STEPHENS, D. (2017).Reengineering retail: the future of selling in a post-digital world. Figure 1 Publishing. CAMBRON, S. (2014).The Secret to Retail: the Secret to Success in Retail. Cork, BookBaby. STRA?HLE, J. (2015).Emotionalizing Fashion Retail. Norderstedt, Books on Demand.