Retail Industry – Past and Present Trends
Retail industry has existed from time immemorial. Retail industry includes small shops, outlets, showrooms, supermarkets, chain of supermarkets, hypermarkets, etc. Retail industry involves multitude of process and factors which includes but not limited to billing, inventory control, inventory management, stock list maintenance, stock shelf life, reporting, and analytics. These process and factors were earlier managed and maintained manually, which consumed and the most valuable factor – time. Billing was initially maintained through account books, which was really tedious to maintain and the reporting part which includes net inflows and outflows calculation was inexpedient. At the outset, when the computer application started emerging, it was billing application which was first developed and widely leveraged by the retail industry followed by reporting and ERP systems.
Database and data warehousing concepts are widely used in retail in storing humongous amount of data and information, mining the data required and generating reports for making complex business decisions. Furthermore, computer technologies brought a new dimension to retail industry wherein the retail industries prevailing guardrails were overcome and helped in attaining perfection. The point of sale technology is a huge hit and it is implemented in almost most of the retail shops.
Online retail shop is the recent trend and thanks to computer technologies which made this possible. Right from clothing to digital devices and from online shop to buy medicines to ordering spectacles, online industry had evolved. Online retail had evolved greatly that consumers have the in-store experience even while using the online retail stores.
Computer technologies not only enhances the retail management but also enhances the customer experience in the store. After the 90’s, the number of people using the smart devices have increased tremendously. People have become tech-savvy and they expect more in-store experience. Henceforth, retailers have building and improving the in-store experience for customers by implementing many kiosks, tablets and computers wherein consumers can leverage in-store portals to read reviews, compare, and test their products.
Mahadhi Technologies involvement in the retail industry is extensive. We at Mahadhi Technologies provide solutions such as billing application, inventory control applications, management systems, retail automation systems, sales data analytics, reporting solutions, business intelligence, and design and branding solutions. With the strong workforce and expertise in database, data warehousing, and ERP concepts, Mahadhi Technologies have developed and successfully implemented many applications for the retailers. The applications developed by us are comprehensive and we provide excellent support and in-depth knowledge transfer to the end-users to leverage our applications to the fullest.
Mahadhi Technologies are experts in reporting and sales data analytics by effectively utilizing the apt reporting tools and techniques we deliver the sublime reports. Reports and data play a vital role in the complex decision making and our support and application are the best in class.
Mahadhi Technologies web application specialists are currently working on the Online Pharmacy Project which is one of a kind in the industry and having got deep insights from the conclave with SMEs, the Online Pharmacy is set to triumph over the existing pitfalls. Stay tuned with us for our updates and releases.