Retail technology management, Summaries of Retail Marketing

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Assigned by- Dr. Raj Kumar

New Retail Technologies and

their impact on Retail

business

A RTM (Retail Technology Management)

Assignment

Submitted by- Ananya Mishra (BFT/20/209)

Introduction

• Founded in 1991, Shoppers Stop Limited is a chain of Retail stores in India owned by K. Raheja

Corp

• International & Domestic brands across various categories such as apparel, accessories,

cosmetics, home & Kitchenware as also its own private brands

• 177 stores in 18 cities with 3.4 million sq ft space across 8 store formats
• Over 2.5 million customers are a part of the first Citizen Loyalty Programme

Location visited- Shoppers Stop, Inorbit mall, Vashi, Navi Mumbai

• On an average, they store 30000 pieces of different products.
• Merchandising sourced from 250 exporters in Delhi, Mumbai and Bangalore.
• Carries 63 days of stock.
• They are no longer just a brick-and-mortar retail store, but have shifted to omni-

channel retail strategy, a combination of physical stores and online site -- to

grow its business.

Apparel – Shirts, skirts, dresses, jumpsuits, jackets, bottom wear, baby suits, winterwear, pants,

sportswear, swimwear, lingerie, nightwear, sarees, churidar suits, t-shirts, jeans, cargos, trousers,

blazers, shorts and kurta pyjama

Accessories – Umbrella, reading glasses, diaries, pen, travel essentials, sunglasses, scarves, clutch,

wallet, handbags, watches, belt and cufflinks

Footwear – Flip-Flops, bellies, wedges, platforms, heels, flats, boots, slippers, sandals, casuals and

formal

Jewellery – Fine jewellery, fashion jewellery, artificial jewellery and gold coins

Toys – Dolls, infant toys, soft toys, musical instruments, board games, educational games, cars, toy

trains and blocks

Beauty products – nail polish, shampoos, make-up, moisturiser, scrubs, masks, hair colours,

perfumes, deodorants, shaving products, make-up tools, soaps, serums and toners

Homeware – Bedsheets, bedcovers, pillow covers, dinner set, tableware, kitchen tools, bath towels,

bathrobes, laundry baskets, curtains, rugs, doormats, dustbins, furniture, clocks, candles, lamp

Product

Price

Shoppers Stop has targeted upper-middle-class section of society as its target customer that

puts its onus on quality and style.

It has set a high benchmark in the retail industry as its policies have resulted in an increase in

footfalls.

Shoppers Stop has adopted a premium pricing policy as it has been able to project itself as a

high-end brand that deals in only qualitative products.

Its customers are willing to spend premium prices for premium products.

Shoppers Stop has also adopted a promotional pricing policy and offers incentives like summer

and winter sale to increase its customer base as well as sales volumes in order to garner larger

revenue figures.

Promotion

Shoppers Stop has adopted both ATL and BTL marketing strategies to promote its brand in the

consumer market.

It has also implemented Interactive as well as Guerrilla marketing to increase brand awareness.

Shoppers Stop has launched several ad campaigns and promotional policies with help of

electronic, digital, print and social media platforms.

Advertisements are shown on popular television channels, newspapers, magazines, and

hoardings. Twitter, Facebook and YouTube to garner maximum exposure.

Shoppers Stop also offers periodic discounts and gift vouchers to attract further sales at regular

intervals.

It has launched a loyalty program titled First Citizen for its regular customers as well as

Shoppers Stop Gift Card after a tie-up with Quicksilver Solutions.

Problems identified

While Shoppers Stop is an excellent example of how a retail store/departmental store should be, it still lacks in some areas

which can adversely affect their footfall. Upon my visit and observation, these were the two problems that I identified that

would personally bother me as a customer:

Searching for an item is hectic: Shoppers stop is a huge store with a varied product assortment. It can get difficult for

customers to find their desired product. With so many sections, one can get confused and irritated easily.

Checkout waiting lines: Shoppers Stop’s footfall increases everyday. People buy their products, but due to increasing

customers, checkout counters tend to slow down. This creates a long line of people waiting and takes up a lot of time. Also,

since we’re living in a pandemic-stricken world, people might not be comfortable with getting in contact with people.

IPS TECHNOLOGY

Why do we need Indoor Positioning Systems?

Real-time knowledge of the location of people or objects has become essential for the deployment

of services in many fields such as retail, logistics, urban planning, leisure activities, etc. The

success of global positioning systems and the mobile revolution have forever shifted the way we

relate to technology both in business and in our personal lives.

However, GPS is not always able to locate people when they are inside a building. This is because

GPS technology uses the signals of satellites in orbit. These signals are seriously degraded when

there is no direct visibility, which makes indoor location finding difficult.

Indoor navigation and location systems have appeared to fill this role to provide location

information in real-time in indoor environments.

Types of Indoor Positioning Systems in terms of technology

There are different indoor tracking systems depending on the type of signals used. All of them have

their own limitations and none of the options is perfect. From a practical point of view, it is important

to understand them to select, depending on the application, the best technology. Below, we have

some of the most common technologies.

1. IMU (Inertial Measurement Unit)- Inertial Systems

inform about the relative movement of the tag with the

integration of several sensors such as accelerometer,

magnetometer, and gyroscope, in a tiny module.

2. Infrared Light- These systems used infrared light

pulses like a TV remote control. They require an

unobstructed Line of Sight (LOS) between the anchor

and the tag.

3. Ultrasound System- Ultrasound systems use sound

instead of light. It does not interfere with

electromagnetic waves and does not require line of

sight. The system requires a set of anchors and a tag.

The challenge comes from implementing in-store navigation solutions for your business. The

first step is hardware. Having the right infrastructure in place is essential, whether it be

Bluetooth beacons, Wi-Fi RTT, or ultra wideband (UWB). Target chose to implement Bluetooth

IoT lighting systems at many of its locations. When guests shop with the Target app on their

phone in stores, they can get access to a map that helps them find their position in the store

and find the items that they need.

This particular solution placed the Bluetooth beacons in the lighting systems above the sales

floor. However, other solutions may be possible based on the layout and size of the store. After

the infrastructure is set up, all that’s left is to develop the software that can take advantage of

it.

IPS systems have much more potential than just helping guest shop. Having data on where

guests shop in the store has three beneficial implications: targeted suggestions, tracking

customer traffic, and item tracking.

FURTHER ABOUT IPS....

Cashier-less checkout

The Working Behind this Grab-and-Go Experience

1. A Dedicated App

The smartphone or iPhone app is

needed to enter the Cashier-less

store. The app would prompt the

user to scan the QR code for

authentication. It is like the ticket

that is mandatory to validate entry.

It is the app again that aids in

Cashier-less checkout by billing the

customers digitally once they step

out of the store.

2. Sensor Fusion

This comprises cameras and

sensors that are located across the

store to keep track of what item

goes into the shopper’s cart.

Where cameras oversee each and

every move of the shopper, the

sensors keep a record of the items

Convenience stores are changing the way people shop. Amazon Go with the “Just Walk Out”

shopping experience has fascinated its customers. And with other established brands

following the lead, it is safe to say that the future of retail is Cashier-less stores.

It is time to adapt to the improving technologies and the opportunities they offer. While

Cashier-less stores pose a few challenges that are mentioned above, they can be efficiently

solved with the right implementation of systems and processes. This way, a brand can

embrace every aspect of digital transformation both online and offline to offer its customers

a truly omnichannel experience.

Further on Cashier-less Checkout....