We have all probably been through this at some stage. You are at one of your favorite retail outlets for new clothes and when you get to the check out counter, the sales assistant asks you if you want to sign up for their retail store credit card. Then she goes on to explain that you will save 15% on everything you purchase that day if you sign up for their card offer. It sounds great, doesn’t it? I mean who wouldn’t want to save more money? So you fill out the form and then happily leave the store with your purchases.

Although the initial saving of 15% is a good deal, you will find that it may not the case in the long run. Today many people have some sort of retail store credit card and it is big business for the retailers as they make a lot of money from them. Furthermore, these cards served as a form of free advertisements for the retail stores.

However, such a card also has its share of drawbacks as well. Here are 4 of them:

1. Interest Rates

A retail store credit card tends to have an interest rate as high as 20 to 30%. On the other hand, a regular bank credit card usually has an interest rate that is less than 15%. As you can see, the increase in interest rate can be detrimental to your financial Health if you do not pay your balance in full at the end of each billing cycle.

2. Credit Score Rating

Such credit cards can have a negative effect on a person’s credit score. The credit bureaus use a specific formula to calculate a person’s credit score and they will calculate retail store credit cards differently from those regular bank credit cards. The credit bureaus may rate you as high risk if you possess such card with high interest rate. This in turn could lower your credit score. Moreover, having too many credit cards can add more negative points to your credit score.

Many small retail businesses have only 10 or 20 people per day through the doors. Many of their websites were built to bring more people in the door or to sell their products online. Most of these websites do not even come up in a search with the hometown in the search. The oportunity to sell your SEM services is huge. I can tell within five minutes of looking at a website whether or not I can be of service to this company. It is so quick to tell if the website is even halfway optimised or not. Many very expensive websites have been built that are not web optimized at all. SEM Business Blueprint is a very interesting program. Selling Search Engine Marketing services to local businesses. This an outstanding very low overhead businesses to start.

3. Even if you do not use the card, the effect on your credit score is still not desirable.

4. Many retail stores will often take personal information from you and then share it with other third party companies. They do this as they can make money from it. What happens is the other companies buy such lists from the retail outlets and then send those people on the lists their own offers in the mail or to an email address if one is provided. You can potentially receive more junk mail in your mailbox.

Before you sign up for any sort of retail store credit card, ask yourself if you really need it. If you visit the particular retail store on a regular basis and you have a strict discipline when it comes to managing your personal finance, such a card may be beneficial to you.

Stephen Chua
http://www.articlesbase.com/non-fiction-articles/4-things-to-consider-before-signing-up-for-a-retail-store-credit-card-102631.html

Retail Marketing in India is in Recession

         The retail market in India is facing slowdown with the ongoing financial crisis happening across the world markets.  Since the markets always have internally linked with each other, the impact of the crisis is generally shared among all. The following circumstances are creating unwelcome interruptions to the Indian retail industry. The industry hopes for the best alternations to overcome the acrimonious situations

Markets in recession worldwide and India too:

          The current meltdown in the world markets is shaking the globe today. Not even a single country seems to be off the hook. The high level of inflation has been a wet blanket for the global markets. The roots of the world markets are nearly pulled away with the heavy downfall of the American financial giants. Amongst many countries, India too not exempted from the impact of world financial crisis. All this is leading to a temporary recess for the markets from a regular busy schedule. However, these fluctuations are not new for global market. For the decades long, markets, across the world, have been witnessing such ups and downs. But the ultimately fact is that the market growth rate is always constantly high when comparing to such downfalls.

Economic slowdown:

           The Financial crisis is adding to the pressure on global economies. The International Monetary Fund (IMF) now sees the world entering a major slowdown. The recovery would depend on three key factors: commodity prices stabilizing, the crisis in the US housing sector bottoming out, and emerging economies providing a source of resilience. But, if the current crisis were to last longer, the emerging economies are more likely to be affected.

The impact on retail industry:

           The inflation or the economic slowdown is adversely affecting the retail industry. With the suddenly disturbed economical status, consumers are gradually losing interest on buying. And for the interested, the unbalanced income, followed by the economic slowdown, is not meeting their buying requirements. This evolution had soon disappointed the hopes of retail industry. Anyhow, it’s all a short-term crisis for the retail industry until the things turn around.

Low marketing and advertising budgets will work out:

           To rectify the things, right solutions are always excavated. Whether the market growth is slower or faster, its potential should not be left unused. Anyway, new and innovative solutions must be invented to answer the current market slump. Cutting down the marketing and advertising budgets will reduce the financial burden on retailing industry. Marketing and advertising are the supreme factors for the retail industry to penetrate more into retail market. Following innovative marketing and effective advertising at low prices will be a brilliant move for the present day market trends.

Challenge to get more customers at low cost:

          In this current meltdown, driving the customers to the retail stores seems high and dry. But, the markets always have the hidden potential despite the slump. Today, the changing market trends demand the retail industry to expand its reach to the more customer touch points so as to drive them to the retail points. ‘Low investments and high returns’ is now made possible with the arrival of technology enabled marketing services. The retail industry should realize that it would be at a fair advantage of including technology enabled marketing services to unfold the immense retailing opportunities.

Present communication channel is ineffective and involves high costs:

         The present channel for customer communication is apparently ineffective which the retail industry has been following for the decades. Moreover, it always involves high costs too. The outdated communication channels should be modified according to the changing market trends. Now, an uninterrupted marketing channel, which will be continuously tied to the shoppers, is needed to boost up the retail industry. Going beyond the traditional marketing at low prices will cut down the high costs and brings good returns.

Best alternative is Online branding and marketing through effective presence:

          Now it is the time to find the right alternative for the retail industry to bring down the expenses and to move up in the market. With the lacks of online searches, happening daily for the different products, online market is now creating enormous opportunities in retail business. To reach the online shoppers, online Retailing is the best alternative solution for the retail industry, through which online branding can be achieved. Online branding and online marketing are the ongoing retail business trends

PAVITHIRA.C

M .PHIL (COMMERCE) RESEARCH SCHOLAR

PERIYAR UNIVERSITY SALEM

C.Pavithira

In addition to running my regular consulting Business, I also work part-time as an Ad Set Supervisor for a national retail store. During this time I have learned many of the ins and outs of the retail business and how to get the most bang for my buying dollar. If you follow these same ten tips I guarantee that you too will save more money. Following are ten of the best inside tips I’ve learned about the retail world since becoming part of it.

1.How to Get the Best Clearance Price in Stores
In most retail stores, clearance is marked down at the beginning of the month. And for stores that use the tiered clearance system, where items fall in price as the month progresses, you will find that the best time to get the lowest price for a clearance item is toward the end of the month.

2.Yellow Tag, Red Tag Clearance Method – When the Best Price Isn’t Always the Final Clearance Price
Stores that use the yellow tag to red tag clearance method also use a tiered system to incrementally mark down items on clearance. Generally, items are placed on clearance at the beginning of the month and will be gradually marked down as the month progresses. Any remaining yellow-ticketed items are then red ticketed for final clearance at the beginning of the following month. Because this system is percentage based, when the yellow-ticketed price drops to its lowest percentage off (usually 50% off the yellow-ticketed clearance price) makes this the best item to buy. This way you can save as much as 80% off the regular price of an item. However, if you wait until the same item is red-ticketed for final clearance, you will pay a higher price and only receive about 50-60% off the regular price. This is a clearance strategy used by many major retailers.

3.Too Early/Too Late For a Great Sale – Not Anymore
Most retail stores have an unpublished policy that allows customers to receive the sale price for an item either a day before or a day after the begin and end dates of an advertised sale. You just have to ask to receive the sale price.

4.Price Adjustment – Too Late, Not Necessarily
Most retailers have a published policy allowing customers a specific time frame to receive price adjustments and an unpublished policy that actually extends this time frame anywhere from 7 to 14 days. Even if you are outside the official time frame for a price change, make the request, as most stores will honor the adjustment based on the unpublished policy and because they won’t risk losing a customer.

5.Buy One, Get One Free and Buy One, Get One ½ Off Sales (BOGO) – Great for the Retailer, Bad for the Customer
The national retail store I work at part-time as Ad-Set Supervisor usually has a Buy One, Get One Free, and Buy One, Get One ½ Off Sale, also know as BOGOs, twice every sale cycle (12 weeks). It always amazes me how many people flock to the store for these sales because in the retail industry, these are known to be one of the worst sales for customers. How? By breaking the numbers down one can quickly see just what I mean. Let’s say you need a pair of jeans and find that there is a BOGO sale at your favorite store offering you ½ off the second purchase. If you paid $20.00 for the first pair and $10 for the second pair (since it was ½ off) your total purchase amount on two pairs of jeans is $30.00, with an overall savings of $10.00 or 25%. But more than likely, these same jeans usually go on sale for 30 to 40% off during one of the store’s regular sale events. That means if you had purchased these same jeans during a regular 30% off sale you would have paid $14.00 per pair or $28 for two pairs a savings of $12.00, or 30% off saving you an additional $2.00 than the BOGO Sale. At 40% off you would have paid $12.00 per pair or $24.00 for two pairs, or 40% off saving you an additional $6.00 than the BOGO Sale.

Buy One, Get One Free Sales are only good if you plan on purchasing two of the same items anyway. Otherwise, they force customers to purchase more than they had planned causing them to bring home two items they only wanted one of in the first place. A way around this dilemma is to shop with a friend or relative who intends to purchase the same type of item that you are going to purchase. Stores love these sales because it is a way of getting customers to spend more money, reduce store inventory quicker, and increase sales figures.

6.Shopping Day Savings Passes, Just Ask
Several national retail stores offer Shopping Day Savings Passes, coupons offering the customer anywhere from 10-20% off every purchase made throughout that day. These “savings passes” are available at customer service desks. All you need to do is ask. One large retailer that offers these passes is Macys.

7.Those People with the Scanners – They Know More Than You Think

Ever go into a store and see some of the associates with a scanner scanning items? Well, more than likely those are “Ad Setters” responsible for placing sale signs for upcoming sale events. Almost every store has an Ad Set Crew. Some stores have the Ad Set Crew set ads for upcoming sales after store closing. Most, however, have the Crew start setting ads a few hours prior to closing. Shop during these hours and seek these people out. Why? They are the most knowledgeable about what store sales are the best for customers and when these sales are going to occur since they know about upcoming sales weeks in advance. If you are wondering if an item you are interested in purchasing is cheaper during the current sale or cheaper during an upcoming sale, they can usually scan it and tell you. I have helped countless customers save this way and then proceeded to tell them about the day prior, day later rule covered in tip number three. Most regular sales associates don’t have this inside information about upcoming sales, nor do they have the ability to find out what upcoming sales prices are going to be on items – that’s why you need to speak to an Ad Setter.

8.Imperfections = Discounts, Even Packaging
Everyone probably knows about getting an additional discount on imperfect merchandise, but many don’t know that imperfect packaging gets the same discounts. The store I work at, like most stores, has a policy that allows at least an additional 10-20% discount on damaged items. Even if the only damage is to an item’s packaging, we gladly give this discount when someone asks. As a result, I have learned to purposefully seek out items that have damaged packaging and to always ask for this extra discount. To date, I have always received it. Being willing to purchase items with damaged packaging creates a win-win situation for both customers and the store: the store gets rid of slightly blemished items and customers save money.

9.Forgot Your Extra Savings Coupon – No Problem, Just Tell the Cashier
Many stores send out extra savings coupons to holders of their credit cards or loyal customers on their mailing list. Sometimes, however, customers get to the register only to realize that they forgot to bring their “Extra Savings Coupon” with them. If this happens to you, no problem, since most stores have a policy granting the discount to the customer anyway just by telling the cashier that you forgot your savings coupon.

10.The Clearance Merry-Go-Round
Most stores have what is called “back stock.” This usually refers to clearance items that have not sold during the previous season’s clearance sales. These items are placed in a designated area in the stockroom and then brought back out onto the sales floor during a store’s next seasonal clearance event. For example, January and February are two good months to find last season’s bathing suits on clearance in many stores. May and June are good times to find heavy coats and leather jackets at rock-bottom prices. I know our store does this routinely, and have found this to be true for several other major retailers as well.

I hope you are able to save tons of money as I have by using these ten tips. Prior to working in retail I would have considered myself a frugal and smart shopper but have since become even better and saved more. By learning the ins-and-outs of the retail world and by using these tips, I now pay less for brand-new brand-name clothing, shoes, accessories, and home goods than I had previously paid at thrift stores and I hope you do too. Happy Shopping and Saving!

By Marco Perinho WorldCardPro

Marco Perinho
http://www.articlesbase.com/shopping-articles/10-inside-tips-to-saving-money-and-making-the-most-of-your-retail-shopping-experience-674373.html

In addition to running my regular consulting business, I also work part-time as an Ad Set Supervisor for a national retail store. During this time I have learned many of the ins and outs of the retail business and how to get the most bang for my buying dollar. If you follow these same ten tips I guarantee that you too will save more money. Following are ten of the best inside tips I’ve learned about the retail world since becoming part of it.

1.How to Get the Best Clearance Price in Stores
In most retail stores, clearance is marked down at the beginning of the month. And for stores that use the tiered clearance system, where items fall in price as the month progresses, you will find that the best time to get the lowest price for a clearance item is toward the end of the month.

2.Yellow Tag, Red Tag Clearance Method – When the Best Price Isn’t Always the Final Clearance Price
Stores that use the yellow tag to red tag clearance method also use a tiered system to incrementally mark down items on clearance. Generally, items are placed on clearance at the beginning of the month and will be gradually marked down as the month progresses. Any remaining yellow-ticketed items are then red ticketed for final clearance at the beginning of the following month. Because this system is percentage based, when the yellow-ticketed price drops to its lowest percentage off (usually 50% off the yellow-ticketed clearance price) makes this the best item to buy. This way you can save as much as 80% off the regular price of an item. However, if you wait until the same item is red-ticketed for final clearance, you will pay a higher price and only receive about 50-60% off the regular price. This is a clearance strategy used by many major retailers.

3.Too Early/Too Late For a Great Sale – Not Anymore
Most retail stores have an unpublished policy that allows customers to receive the sale price for an item either a day before or a day after the begin and end dates of an advertised sale. You just have to ask to receive the sale price.

4.Price Adjustment – Too Late, Not Necessarily
Most retailers have a published policy allowing customers a specific time frame to receive price adjustments and an unpublished policy that actually extends this time frame anywhere from 7 to 14 days. Even if you are outside the official time frame for a price change, make the request, as most stores will honor the adjustment based on the unpublished policy and because they won’t risk losing a customer.

5.Buy One, Get One Free and Buy One, Get One ½ Off Sales (BOGO) – Great for the Retailer, Bad for the Customer
The national retail store I work at part-time as Ad-Set Supervisor usually has a Buy One, Get One Free, and Buy One, Get One ½ Off Sale, also know as BOGOs, twice every sale cycle (12 weeks). It always amazes me how many people flock to the store for these sales because in the retail industry, these are known to be one of the worst sales for customers. How? By breaking the numbers down one can quickly see just what I mean. Let’s say you need a pair of jeans and find that there is a BOGO sale at your favorite store offering you ½ off the second purchase. If you paid $20.00 for the first pair and $10 for the second pair (since it was ½ off) your total purchase amount on two pairs of jeans is $30.00, with an overall savings of $10.00 or 25%. But more than likely, these same jeans usually go on sale for 30 to 40% off during one of the store’s regular sale events. That means if you had purchased these same jeans during a regular 30% off sale you would have paid $14.00 per pair or $28 for two pairs a savings of $12.00, or 30% off saving you an additional $2.00 than the BOGO Sale. At 40% off you would have paid $12.00 per pair or $24.00 for two pairs, or 40% off saving you an additional $6.00 than the BOGO Sale.

Buy One, Get One Free Sales are only good if you plan on purchasing two of the same items anyway. Otherwise, they force customers to purchase more than they had planned causing them to bring Home two items they only wanted one of in the first place. A way around this dilemma is to shop with a friend or relative who intends to purchase the same type of item that you are going to purchase. Stores love these sales because it is a way of getting customers to spend more money, reduce store inventory quicker, and increase sales figures.

6.Shopping Day Savings Passes, Just Ask
Several national retail stores offer Shopping Day Savings Passes, coupons offering the customer anywhere from 10-20% off every purchase made throughout that day. These “savings passes” are available at customer service desks. All you need to do is ask. One large retailer that offers these passes is Macys.

7.Those People with the Scanners – They Know More Than You Think

Ever go into a store and see some of the associates with a scanner scanning items? Well, more than likely those are “Ad Setters” responsible for placing sale signs for upcoming sale events. Almost every store has an Ad Set Crew. Some stores have the Ad Set Crew set ads for upcoming sales after store closing. Most, however, have the Crew start setting ads a few hours prior to closing. Shop during these hours and seek these people out. Why? They are the most knowledgeable about what store sales are the best for customers and when these sales are going to occur since they know about upcoming sales weeks in advance. If you are wondering if an item you are interested in purchasing is cheaper during the current sale or cheaper during an upcoming sale, they can usually scan it and tell you. I have helped countless customers save this way and then proceeded to tell them about the day prior, day later rule covered in tip number three. Most regular sales associates don’t have this inside information about upcoming sales, nor do they have the ability to find out what upcoming sales prices are going to be on items – that’s why you need to speak to an Ad Setter.

8.Imperfections = Discounts, Even Packaging
Everyone probably knows about getting an additional discount on imperfect merchandise, but many don’t know that imperfect packaging gets the same discounts. The store I work at, like most stores, has a policy that allows at least an additional 10-20% discount on damaged items. Even if the only damage is to an item’s packaging, we gladly give this discount when someone asks. As a result, I have learned to purposefully seek out items that have damaged packaging and to always ask for this extra discount. To date, I have always received it. Being willing to purchase items with damaged packaging creates a win-win situation for both customers and the store: the store gets rid of slightly blemished items and customers save money.

9.Forgot Your Extra Savings Coupon – No Problem, Just Tell the Cashier
Many stores send out extra savings coupons to holders of their credit cards or loyal customers on their mailing list. Sometimes, however, customers get to the register only to realize that they forgot to bring their “Extra Savings Coupon” with them. If this happens to you, no problem, since most stores have a policy granting the discount to the customer anyway just by telling the cashier that you forgot your savings coupon.

10.The Clearance Merry-Go-Round
Most stores have what is called “back stock.” This usually refers to clearance items that have not sold during the previous season’s clearance sales. These items are placed in a designated area in the stockroom and then brought back out onto the sales floor during a store’s next seasonal clearance event. For example, January and February are two good months to find last season’s bathing suits on clearance in many stores. May and June are good times to find heavy coats and leather jackets at rock-bottom prices. I know our store does this routinely, and have found this to be true for several other major retailers as well.

I hope you are able to save tons of money as I have by using these ten tips. Prior to working in retail I would have considered myself a frugal and smart shopper but have since become even better and saved more. By learning the ins-and-outs of the retail world and by using these tips, I now pay less for brand-new brand-name clothing, shoes, accessories, and home goods than I had previously paid at thrift stores and I hope you do too. Happy Shopping and Saving!

By Marco Perinho WorldCardPro

Marco Perinho
http://www.articlesbase.com/shopping-articles/10-inside-tips-to-saving-money-and-making-the-most-of-your-retail-shopping-experience-674373.html

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I want to buy this at a local retail store, not online. I tried to find it at toy r us, walmart, bestbuy, and target but none of them had it.

Many small Retail businesses have only 10 or 20 people per day through the doors. Many of their websites were built to bring more people in the door or to sell their products online. Most of these websites do not even come up in a search with the hometown in the search. The oportunity to sell your SEM services is huge. I can tell within five minutes of looking at a website whether or not I can be of service to this company. It is so quick to tell if the website is even halfway optimised or not. Many very expensive websites have been built that are not web optimized at all. SEM Business Blueprint is a very interesting program. Selling Search Engine Marketing services to local businesses. This an outstanding very low overhead businesses to start.

Dick Smith sell it i think tandy do too

I want to buy this at a local retail store, not online. I tried to find it at toy r us, walmart, bestbuy, and target but none of them had it.

Many small retail businesses have only 10 or 20 people per day through the doors. Many of their websites were built to bring more people in the door or to sell their products online. Most of these websites do not even come up in a search with the Hometown in the search. The oportunity to sell your SEM services is huge. I can tell within five minutes of looking at a website whether or not I can be of service to this company. It is so quick to tell if the website is even halfway optimised or not. Many very expensive websites have been built that are not web optimized at all. SEM Business Blueprint is a very interesting program. Selling Search Engine Marketing services to local businesses. This an outstanding very low overhead businesses to start.

Dick Smith sell it i think tandy do too

NICE EXPERIENCE AT RETAIL STORES

Birth of Retail Industry

      We all know what is fashion is all about .Basically fashion symbolizes attitude or nature of the person. Fashion is changing with a speed of light. All fashion conscious people wants change in there wardrobe with the same speed. Some fashion lovers are regular shoppers and they frequently visit different fashion destinations. There are number of reasons which contribute jointly to enhance retail culture in India like rise in young population, handsome salary packages, nuclear families and increase in working female population all these factors will enhance the shopping capacity of normal public too. Another feather in the retail cap in India is allowing 51% Foreign Direct Investment in single brand outlet. Nobody is interested to do shopping from conventional markets due to limited variety, stale stock and heavy price tags at the same time supermarkets have wide range of products like apparels and accessories, cosmetics and toiletries, bag and baggage, grocery, Travel and leisure under one roof and public enjoys low cost quality goods with very little chances of duplicity, no problem of bargaining and most important in crowded metro city retail stores are having good parking place. But at the same time different small local kirana shop’s will assume these retail stores will end there earnings, more impact of foreign companies and they will end community shopping but I think this is absolutely wrong perception because in India retail is the largest source of employment after agriculture there are nearly 12 million retail outlets in India and this will score India as a highest retail store density and retail stores and malls are still confine to big cities where as in small towns there are only kirana shops so even kirana shop merchant’s can able to purchase material at low price from retail shops and then sale them in small towns and earn profit. Some retailers also traps Indian thinking and develop discount stores in order to attract bargain loving Indian public and some are offering extra discounts and mega sale during festive season like Diwali, Id, and Raksha-Bhandan etc.

         Now days all type of public with no difference of caste, creed and income levels moves towards retail stores. In India retail industry is growing like anything, that’s why          some foreign retail companies are already sharing Indian retail market revenue like Nautica US lifestyle opened the store in Pune, Tata and Woolworth tie up opened stores in Mumbai and Malad ,Walt Disney had ties up with Devyani International Ltd,Dubai based Damas Jewelry and Flemeningo International’s Indian division are interested to start  duty-free shops in the country, for selling products like jewelry and watches and few big retail giants like Wal-Mart tie up with Bharti are also interested to spreading there roots in Indian markets for seeking higher profit returns, France’s Auchas $50 million dollar chain of grocery and consumer durables are keen to open stores in India, HAS (Hayel Saeed Anam Group) a Yemen based company are planning to come to Indian market with a tie up plan with Reliance.

Demand for New Innovative Technology

        We all are convinced by all above facts but there are still some problems in retail stores. Firstly lots of time are wasted in billing even in festive season and in weekdays shopping time are much less than billing time and secondly problematic to choose right size of outfits and matching accessories. Although visual merchandizing of stores are too good, convenient and entire range of products are visible to customers for there choice .Some of the retail companies like Pantaloon Retail India limited (PRIL) are using various types of software for e.g. JDA® Software for store planning and visual merchandizing, but main problem is trailing different sizes, colors and patterns of outfits standing in a long queue outside the trail rooms. Even this type of waiting is much more painful with small kids because they get irritated even after one or two trials. Choosing a proper fitted birthday dress for children of age group of 4 – 8 years is more like a war with no weapons. Sometimes trailing white garment is normally not allowed in maximum retail stores this seems that purchasing white garment suppose to be a crime and another confusion arises when we bring five or six dresses in the trail room it is difficult to remember how we look in each dress. To overcome above problems sometimes retailers design one model according to this customer is allow to trail only three garments and they can spend average 10-20 min in the trail rooms still it is really very dissatisfied to trail only limited number of garments and still there partners that are there parents, friends or relatives in crime also wait near the never ending queue outside the trail room to offer their opinion.  

Billing is Problematic

        In retail stores there are number of billing counters still billing is so much time consuming only reason behind this are Bar Code Readers only gadget used for billing in almost every retail store in India. No doubt Bar Code Readers reduce the time spend for billing and increase the accuracy. Like one of the common problem which we all face at billing counters is suppose in case of missing tags gentleman at the billing counter abruptly stopped billing and rushed 2 floors above or below the billing counter to get another product and used its tag to determine the price, this is not the end there are still other:

Problems in the Bar Code Readers

• Single item scanning at one time
• Kept the item at line of sight.
• Wear and tear in the bar code strip.
• More human involvement.
• Much more time consuming

 Birth of Wireless Gadget ? RFID (Radio Frequency Identification Device)

   As entire globe is busy in innovations and inventions so why not retail industry. RFID is one of the outputs of the innovations in retail industry. There are number of software companies who are developing different types of RFID applications specifically for retail industries for e.g. WIPRO solutions develop WIPRO retail only to fulfill retail customer demand, Origin products contains huge list of only retail products like RFID tags , POS reader and handheld readers etc. It is basically a small chip somewhat similar to chips used in our mobile phone. This is consisting of a tag, transponder, and power source. Tag emits short frequency radio ways which is the part of the light spectrum and it is received by the transponder and information written on the tag wirelessly transferred to the system connected amount of data stored in the tag vary in different types of tags some can store upto 2 KB on the other hand some low cost disposable tag can able to store only 96 bits. Some tags are small like rice grain ad enclosed in glass covering and some are big like a credit card and embedded by plastic covering. Some can be reused and others are disposed of after use.

         Tags are of different types according to type of frequency utilized by the tag .There are three types of tags like LF(Low Frequency),HF(High Frequency) and UHF(Ultra High Frequency) and distance of data transmission is like just 1 foot for LF tags , read less than 3 feet in HF and more than 3 feet for UHF Tags.  Power is utilized by the power-source present with the tag. According to orientation of power source there are two types of tags active and passive. Passive tags are supplied with external battery no such battery is present in active tags. Active tags have long read range as compare to passive tags because they have own power source but some times due to there higher cost constraint they are ignored by various retailers.

        Choice of type of tag used is depend upon number of reasons which is taken under consideration by the firm. Type of the product is also one of the reasons for selecting type specific type of the tag for e.g. liquid and metal both show repelled behavior for RF(Radio Frequency) so for the liquid like shampoos etc normally passive tags are used and as metal reflect RF so tag is placed small place apart from the commodity .

Source: www.traze.in/images_default2/about_rfid_img1.gif

Advantages of RFID over Bar Code Readers

RFID is automatically reduces all the problems of Bar Code Readers and increase the accuracy and reduces the time spend for billing. There are lots of advantages of RFID over Bar Code Readers like some of them are:

• No line of sight is required.
• Group of items are scanned at one time.
• No wear and tear in the chip.

RFID technology calculates the total price of the commodity in the cart automatically and this will speed up billing hence checkout process and eradicate problems in the billing register and increase overall customer satisfaction level. RFID is not only used in billing it is very much useful in inventory management and unauthorized movement because misplaced items and out of the stock are main problems in the inventories these can be solved by mounting RFID chips in the shelves so automatically if item is misplaced or below reorder level automatically buzzer will alarm the store personnel’s and  gate antennas reads all the items at the exit door and if the item is not properly billed in that case automatically alarm raises and we can control theft by employees , customers etc.

WOMEN SAY NO TO SHOPPING ? Mall Voyeurism

Three walled Changing room

Source: http://www.gabriellogan.com/fitting-rooms

Even trailing is like a nightmare for young girls, female staff and women’s also there are number of news related with trial room voyeurism in different malls. This mall voyeurism is most disagreeable in women sopping experience. Above picture proves the fact that these type of three walled changing room is so much risky for female customers as they are open from the top anybody can easily peeped in. Even by all efforts if we have chosen correct size outfit again a long queue at billing counter .All these problems can be eradicated by some magic don’t you think and that is one and only one RFID (Radio Frequency identification device) a wireless magician. So now in coming future after using RFID at billing counters time spend  for billing reduced manifolds.

NO MORE Trialing

          Huge crowd standing outside the trial rooms so again requirement of some jadoo for retail stores is just like jadoo of Koi Mil Gaya i.e. Magicmirror as name suggest something similar to magical mirror of  fairy tales

Magicmirror is a virtual mirror virtually means it seems even though it is not there. Magicmirror enables us to see you wearing particular picked up outfits without even putting off the outfit. Magicmirror is a RFID enabled mirror

present in trail rooms of retail stores in coming future. When customer brings the garment inside the trial room it digital display automatically displays description of the garment, other available sizes and colors and also suggest matching accessories. There is an another option if there is some problem with the size so customer is able to send the request from the mirror only and message directly transferred to the PDA (Portable Digital Assistant) of store employees and then they provide personnel assistance to the customer, this will create personalized environment for the individual customer and enhance customer’s faith for the retail store which will create strong and loyal relationship with the firm. This magicmirror will bring end to the long queue outside the trail rooms and also stops incidents of trail-room voyeurism. Magicmirror also helps in inventory management and tracking items entering and leaving trial rooms .This entire setup of magicmirror in dressing room will cost around ($ 19.450).

       Magicmirror brings revolution in retail industry           Women in Magicmirror                        Man Trailing shirt in Magicmirror

          Source: rfidjournal.com/article/articleview             Source: http://www.forbes.com                   Source:  http://www.forbes.com

GOOD BYE and Have a Nice Shopping       

So RFID is main technology gadget may be used in coming future in order to reduce all the problems of retail stores .Though there are number of disadvantages of  RFID also that is cost , over dependency on technology but still advantages overpower the disadvantages. So we all expect unlimited growth of not only Indian Retail Industry but entire world retail industry will grow by proper and planned investment in information technology.

Pooja Singh
http://www.articlesbase.com/management-articles/nice-experience-at-retail-stores-683513.html

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This is for a competitive event, any help or information regarding retail merchandising, and its principles would be greatly appreciated.

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