A Comprehensive Study on Retail Technology for Operational Efficiency

Abstract

The retail industry has witnessed significant transformations over the past decade, driven largely by advancements in technology. "A Comprehensive Study on Retail Technology for Operational Efficiency" delves into the ways modern technological innovations are reshaping operational practices within the retail sector. This study explores various technological tools and platforms that enhance efficiency, streamline processes, and improve the customer experience, focusing on automation, data analytics, artificial intelligence (AI), Internet of Things (IoT), and supply chain management systems. Through an in-depth analysis, the paper identifies key areas where technology is driving cost savings, optimizing inventory management, and personalizing customer interactions. Furthermore, it examines the challenges faced by retailers in adopting and integrating these technologies and provides recommendations on overcoming these barriers. By offering a holistic view of how retail technology can be leveraged to achieve operational excellence, the study aims to guide retailers in making informed decisions about technology investments, ensuring long-term sustainability and competitive advantage in an increasingly digital landscape.