Retailer Deep Dive Market Research Report-Ken Research

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Rising Emergence Of Specialized Retailers Ken
Research
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Due to the high growth of internet, global
landscape of specialist retailers has completely
changed. Specialist retailers are coming up with
new techniques on order to get in contact with
their customers. The traditional retailers
involved setting up of large multichannel firms
which are a retail outlet which is visited by the
consumer physically. This traditional approach
has been changed completely with the introduction
of internet in this industry. They have changed
the entire landscape for the specialist
retailers. Studies suggest that customers
themselves demand a more interactive interface
which improved the overall experience. Majority
of the consumers are even willing to pay higher
for services just to get a more enhanced
experience while availing their service.
According to the study, Retailer Deep Dive
Specialist Retailers - Strategic Issues And
Market Trends Affecting Specialist Retailers,
some of the major companies that currently
operate in the specialized retail segment include
The Home Depot, Lowe's Companies, Best Buy Co.
Inter Ikea Systems, Apple, Metro, AG, HM
HennesMauritz, Industria de DisenoTextil,
Suning.com Co., AdeoGroupe, Marks Spencer, GOME
Electrical Appliances and The Gap. The major
technology that is currently being worked upon in
the specialized retail industry segment includes
the Internet of Things.
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With use of internet of thigs, business can
significantly improve the instore layout. Sensors
and other devices can be user to track customer
movement which can be used to place most favoured
products at a position that proves to be
advantageous to the company or organization. Also
after analysing this data, consumers could
effectively promote their products. The instore
layout which is powered by sensors and internet
of things is expected to witness an extremely
high growth for the forecast period. Specialized
retailers designed a system to reliably detect
user-object interaction by using Radio Frequency
Identification, also known as RFID. In order to
prevent any company from going out of stock,
managers place devices behind machines which will
give a signal in case they are removed from the
shelf. One of the major problems which the
customers face in specialized stores is the
process of checkout in which they have to wait
for a great time. Rather, IoT powered devices
allow consumers to make direct payment without
having to stand in a queue. As the customer walks
out of the showroom, the RFID tag attached with
the phone will be caught by the sensors and the
payment will be charged to the bank which is
directly linked to the mobile phone. This would
not only save time for the customers, it will
also allow businesses to save on their additional
costs as a separate cashier need not be
employed. The growth in the specialized sales
can be on an upward trend however this is also
contingent on the fact that most of the consumers
are increasingly using their mobile phones to do
their shopping.
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The competition in the specialized retail
industry is expected to be high however
companies that have huge financial resources
would be the ones that would eventually lead the
market. For more information on the research
report, refer to below link- https//www.kenresea
rch.com/consumer-products-and-retail/wholesale-and
-retail/specialist-retailers/150278-95.html Relat
ed Report- https//www.kenresearch.com/consumer-p
roducts-and-retail/wholesale-and-retail/hypermarke
ts-supermarkets/150277-95.html Contact UsKen
ResearchAnkur Gupta, Head Marketing
CommunicationsSales_at_kenresearch.com91-901537824
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