Online retailers have been watching you for quite a while. They have a good idea
ID: 433405 • Letter: O
Question
Online retailers have been watching you for quite a while. They have a good idea of what you like, don't like and what you need. Since their way of selling is through technology (internet), they were steps ahead of brick and mortar stores (Target, Sears, etc.). But now, they have new tools that can allow them to track when you come into a store and leave, what you look at, what you touch and for how long.
Watch this shopping technology track your every move: https://money.cnn.com/video/technology/2016/08/15/shopping-tracking-technology.cnnmoney/
Write a discussion on your thoughts about this.
Explanation / Answer
Answer:
Online Retailer - Shopping Technology Tracking Consumer Every Moves:
Online retailers have been watching the consumers for quite a while with the help of the technology. They got the good idea of what consumer like, don't like and what consumer need based on their analysis and observation of the behavior of the consumer in the online retail shop. Now, retailers have new tools that can allowed them to track when consumer comes into a store and leave, what he look at, what he touches and for how long. Thus this new tool helps the online retailer to understand the complete consumer behavior such that they can understand the basic requirements of the consumer and they offer the products to the consumer based on the needs of the consumers.
Thus we can say that the new technology tool is helpful tool in better analysis of the consumer and their interest for the products. This analysis will help the retailer to organize the products in the shop such that the product attracts the consumer and will allow them for purchasing decision.
The higher analysis of the consumer pattern and their interest will help the retailers to better plan the products in the shop so that they can have larger sales for their shop and they can earn higher revenues for the business.
The technology helps the online retailers to better place their business and adopt new approaches which can be helpful in consumer understanding and knowing their interest towards the products in the market. The given technology capture the each and every movement of the consumer and his time spent with each product which shows the interest of the consumer towards the product in the shop. Thus this tool is helpful for the online retailing business.
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