Importance Of Information Technology In Retail Sector

Benefits of Information Technology in Retail Sector

Information systems has been a blooming concept in the technological sector all over the world. The use of the IT systems has been populated in various sectors including the retail sector. The use of the IT systems in the retail sector has been providing benefits to the retailers. However, most of the retailers are not aware of the benefits of the IT systems in the business (Lipton et al., 2015). They also lack in maintaining a roadmap to the success in the market. Information technology has been an emerging technology all over the world. This technology has helped in business including the retail business. Retail business has been a growing sector with the influence of the online marketing and advertisement. Therefore, the use if the information system might help in maintaining the revenue in the business. Various IT tools have been discussed in the study that have helped in maintaining the implementation of information technology in the retail business. The retail business has been grown into big market (Niehm, Hurst & Tan, 2015). Most of the customers prefer online retailing than going to shops for purchasing. Therefore, a big hub of market has been created over the internet using the retail business.

Various retailers have been active on the internet all many hours. This have attracted various retailers to upload their products over the internet. The extensions of products and promotions have been stored using the IT applications. Demographic information of customers helps in enhancing customer satisfaction by providing best services (Nel & Abdullah, 2015). The data collection process of the information technology system helps in providing a clear approach towards providing services to the customers. The internet have helped in providing a large number of customers all over the world. The use of these policies in the management might help in monitoring variety of decision-making terms and condition in the market. The use of the IT has been helping in providing a variety of decision-making factors in the retail business (Grimmer, Miles & Grimmer, 2016).

The lack in proper administration in the companies in the retail businesses have been creating issues in the market. The lack in the inventory management and supply chain have been creating issues in the IT systems in the retailers. However, poor services provided by the retailers to the customers have been an important problem faced in the market. Therefore, this research has been focusing in the issues faced due to the information systems in the retail business.

Direct Selling and Advantages and Limitations

Contemporary IT systems have enabled various retailers and supply chain providers on order to maintain the sustainable development of the company in the market. The use of the retail business in the market has been maintaining the revenue of the company. The use of the IT systems have been providing benefits to the retailer in the market. However, there are various issues in the implementation of the IT systems in the retail business. The industry has been facing various failures in the market for implementing IT systems (Dragoo & Young, 2017). Poor inventory management and lack in satisfying customer needs and expectations have been main issues in the implementation of information systems. The transaction issues and absence of smart phone friendly website has been creating security issues in the retail business.

Issues in the retail industry has been increasing in the market. Lack in customer satisfaction has been creating major issues in the market. The implementation of the information system in the retail business have created issues in the inventory management and transaction problem of the customers. There have been many cases of failure in transaction during the portal (Sebastiani & Montagnini, 2014). Online threats and cyber-attacks have been a major issue in the retail business. According to a survey, there have been 9% increase in the failure of transaction in the retail industry during online payment gateway (Martínez, Galván & Alam, 2017). Therefore, these problems have massively affected the retail market and other retailers in the industry. The dissatisfaction of customers have been increasing in the retail market.

This research shed light on importance of information technology in the retail sector and how this technology have helped in development of retail industry in the market. This study focuses on the limitations of the information system in the retail sector. The technological issues faced by the retail industry due to the implementation of the information technology. Strategic recommendations have been provided in the study for mitigating these technological issues in the retail business due to implementation of information technology.

This research mainly focuses on a primary problem of the retail industry due to the implementation of the information technology. Various issues including inventory management, lack in fulfilling demand of customer as a retailer, misuse of information of customers for product marketing and transaction security issues have been discussed in the study. These problems are related to the implementation of the information systems in the retail business. Different security issues have been identified on the study due to implementation of the information technology. This has created problems in retail business companies related to data and financial loss in the market.

Online Retailing and Its Advantages

The aim of the research is to identify the technological issues faced by the retail business due ti the implementation of information technology.

The objectives of the research are as follows:

• To identify the benefits of the information technology in the retail business
• To critically analyze the technological issues in the retail business
• To recommend strategies for mitigating these technological challenges in the retail business

The research questions are as follows:

• What are the benefits of the information technology in the retail business?
• What are the technological issues in the retail business?
• How these technological issues can be resolved in the information technology?

As commented by Zaarour & Melachrinoudis, (2015), retail business deals with the processing of goods and transportation to the customers. Retailing include selling of goods and services of the companies in the market. The process include both direct and indirect selling of goods and services. It include direct customer-to-customer selling of products. However, manufacturers are concerned with the production of goods and products of the company for meeting the demand in the market. The mass production of products and goods are maintaining the demands of customer in the market. A retailer is an agent or a business organization that is responsible for the selling of the products and goods in the market. Retailer is responsible for buying, selling, grading and risk trading in the market (Zukin, Kasinitz & Chen, 2015). Retail business has been rising in the market with the implementation of the information technology. The industry has been facing various failures in the market for implementing IT systems. Various retail companies have been starting in the market that are responsible for the retail business in the market. The information technology has helped in increasing sales of the company in the market.

As commented by Mehta & Kaushik, (2015), direct selling refers to personal contact between a sales person and customer. This type of selling is known as door-to-door selling. The US represent 30% of all the sales through direct selling concept. However, diverse products are advertised and marketed through direct selling technique (Li, Sato, Huang & Chen, 2016). There are various advantages of the direct selling method. In this method, customers have opportunity for buying at home inconvenient to retail location. Customers can judge the product at their home and can take enough time before purchasing it. On the other hand, for the seller, it provide best opportunity to negotiate with the customer and sell their product to them. However, the seller takes the product to buyer’s home that helps in convincing them quickly. Apart from benefits, there are some limitation of the direct selling (Rasband et al., 2017). The salesperson is only aid the commission on each sale made. It becomes difficult for the salesperson to survive in the market, as there is a huge competition in the marmite. Therefore, most of the people used to leave the job very quickly.

Technological Issues Faced by Retail Business

As suggested by Marrone et al., (2014), online retailing deals with the selling of products over the internet. Companies used to maintain a website over the internet that helps in interacting with the customers all over the world. Customers used to out their order on the website and according ti the order, company process their request and transfer their product to their home. Online retailing has been increasing in recent years that have provided an extra edge to the retail business. The online retailing has been key to success for many businesses all over the world. Customers used to get different offers over the internet and can choose best product for them (Wamba & Carter, 2016). The use of the online retailing has been increasing in recent times. Various products including daily products, furniture, hardware, groceries, toys and other materials are sold over the internet.

Information Technology has been an emerging tool for the growth of business in the market. Information technology has been helpful to various companies in the market. The technology have helped in maintaining operations in the business organization (Nguyen, Newby & Macaulay, 2015). The use of the information technology have helped in providing different strategies in the market for development of the company. Information technology have helped in increasing the revenue of a business organization. It consists of computer hardware and software components for increasing sales of the company. As commented by Oliveira, Thomas & Espadanal (2014), the increment in the sales of the company has been due to the implementation of the information technology. The IT applications have helped in providing various services to the company. The concept of the information technology has been helpful in the field of IT sector, as it have provided many benefits to the users. The use of the IT in the retail sector have been increasing the growth of the retail business in the market. Various companies in the retail business have been adopting information technology for attracting several customers in the market.

There are various benefits of the information technology in the retail sector. Retail sector has been one of the emerging sector in the world. Therefore, implementation of the information technology in the retail business has helped in many ways that has been discussed below:

Automating processes

As commented by Palacios-Marqués, Soto-Acosta & Merigó (2015), automation process helps in maintaining the business operation in the company. It helps in reducing the initial cost and accuracy in the production. It helps in producing huge number of products in demand. The use of IT also helps in reducing the labor and time for manufacturing products and goods. It allows fast working by using different tools and techniques in the information technology.

Mitigating Technological Issues in Retail Business

Collection of data related to customer

The buying details of the customers are collected by the information technology applications and properly analyzed. This technique helps in maintaining proper database of the customers for future use. The extensions of products and promotions have been stored using the IT applications. Demographic information of customers helps in enhancing customer satisfaction by providing best services (Ramayah et al., 2016). The data collection process of the information technology system helps in providing a clear approach towards providing services to the customers. The details about the last transaction of customers from the website can be stored in the database of the company that helps in analyzing the customer retaining capacity of the company.

Feedback on marketing decisions

The information technology tools and applications helps in getting feedback from the customers regarding the business performed by the company in the market. The feedbacks helps in understanding the expectations of the customers in the market (Verbano, Crema & Venturini, 2015). The use of the feedbacks helps in maintaining a proper data log of the customers of the company in the market. Analysis of the customer data helps in identifying loopholes and gaps in the operation management of the company.

Communication

Communication is the basic strategy for the development in the company in the market. Communication plays an important role in enhancing the performance of the retail business in the market. Communication among employee of the company help in maintaining an improvised environment. This help in enhancing the production and sales of the company in the market (Reascos & Carvalho, 2018). A proper communication between the customer and company helps in maintaining a quality relationship. This help in increasing the business of the company in the market. The CRM of the company helps in providing a better opportunity for the business to grow in the market at a proper pace.

Fast access to information

The use of the information technology has helped in accessing information from the database of the customers. The use of database of the company helps in accessing the data and information of the customers in the market. The use of centralized databases have been maintained by the company (Vaioleti, 2016). The information technology has been maintaining the retail business in the market. The IT application helps in collecting data and information regarding to the customers in the market. Therefore, the data and information is done in the enhancing the relationships of the common with the customers.

Information technology have helped in maintaining the retail business all over the world. The benefits of the information technology has been highly appreciated in the market. The use of the information technology have helped in increasing the sales of the retail business. Therefore, social media marketing has helped in promoting and selling products and services in the retail business.

Apart from the benefits, there are some limitations of the information technology in the retail business. Some of the issues in the retail businesses have been discussed below:

Not satisfying customer demands and inventory management

Retail business is totally depended in the demands of the customers in the market. Several businesses in the market are not able to understand the demands and needs of the customers (Tehrani & Shirazi, 2014). Therefore, this fail in providing quality products and services according to the needs of the customers. Therefore, retail business have to main a string inventory management in the market. The maintenance of the CRM policy in the company helps in maintaining and acknowledging the needs of the customers (Ritala et al., 2018). The use of the different various tools and techniques in the information technology are unable to measure the expectation of the customers. The company have to maintain a proper database of the demands of the customers in the market. This helps in providing products and services according to the needs of the customers. The inventory control of the retail business might help in providing information about the demand of products and services in the market (Schaper, 2016). Retail businesses needs to change and modify their product according the market demand. Unnecessary and outdated products are responsible for the downfall of the business in the market.

Data misuse

Online retail business requires customer data and information for identifying customer in future. Customers used to sign up their account by providing necessary details including name, age, and email id and phone number for signing up into a website. Therefore, these data and information are stored in the database of the company (Seethamraju, 2015). However, the security of data and information of the customers might be breached from the server of the company by cyber-attacks and other online threats. Therefore, this creates a serious concern for the retail business. This data act as big data for the retailers. Retailers have to use this data and information properly for providing security to them.

Smart phone dependability

In the modern world, customers are depending on the smart phone use in daily activities. The retail businesses have to focus to prepare a mobile operated website by which they can approach to more number of customers. Customers are more online through mobile than that of desktop. Therefore, companies need to focus on mobile compatible website that might help in increasing the number of customers over the internet (Tarut? & Gatautis, 2014). The company needs to provide some discount to the customers that helps in attracting them ti the mobile website. However, most of the companies are not using this technique in the operations. Therefore, it is creating limitations in the retail business.

Online transaction security issues

Retail business is mainly depended in the online transaction of payment from customer to company. Most of the customers used to prefer online payment of the purchased products. Therefore, the payment gateway needs to be highly secured. Failure in the transaction might case loos of money for the customers (Taylor, Bogdan & DeVault, 2015). Various IT tools have been discussed in the study that have helped in maintaining the implementation of information technology in the retail business. Therefore, this create a negative image of the company in the market.

Research Methodology assists with portraying the best approach following which the whole and outcomes of the procedure can be gained. The author in this research paper discusses the theories that can be end up being valuable in achieving further investigation of the research subject. Reasonable approach must be picked. The author moreover outlines the restrictions of research ponder too. The researcher tries to apply everything about of the research approach.

In the area, the research techniques have been associated with study the association between the information technology and retail business. The research logic decided for this research paper is the positivism. The positivism can collect information on appropriate basis and appraisal. Further, the deductive approach will help with coordinating the research look at in view of the auxiliary sources (Taylor, Bogdan & DeVault, 2015). The deductive approach helps in dismembering the association between the data innovation and independent companies. Enlightening plan helps the researcher in portraying the used and the associated thoughts in a more point-by-point frame. The unmistakable arrangement furthermore helps in portraying the impact of the research consider. A prevalent quality research can be coordinated by applying the essential and optional sources. The case evaluate for this research will relate 50 respondents for the quantitative research ponder.

The author discusses that the research logic is valuable in speaking to the supposition methodologies endeavored by a researcher while doing the research. The thinking method can change while finishing a particular research subsequently it is inside and out need to get a particular theory for the research. The research reasoning must be capable and must be in appropriate game plan. Epistemology is a bit of hypothesis and fundamental kinds of epistemology are positivism, genuineness and the interpretativism (Lewis, 2015).

Positivism is a thinking subject that assists with reviewing the disguised substances and the data tentatively. The positivism approach tries to isolate the introspective philosophy with the objective that the research data can be amassed and observed well. Interpretativism is one sort of epistemology that describes the research thought in consent to general law instead of following the sensible framework. A researcher in the research consider interprets the data or the result of the data with the end goal that the necessities of the research can be satisfied. Legitimacy assists with analyzing the relationship of the people with the substances.

Positivism assists with assessing the hid substances and the data related to the data innovation and independent companies. The investigation thought of the wander must be done inside a period traverse that is the reason the interpretative or credibility contemplate has been rejected for the research consider (Lewis, 2015). Decision of positivism reasoning set purposes of containment so the researchers are restricted to figure or survey data to a particular degree. Thusly, the data slip-ups can be constrained.

An appropriate report approach is required to with the objective that the plan in the research should be possible can be recognized. A particular research can be grasped for the investigation in two ways-inductive or deductive. An analyst generally lean towards the inductive approach when there is not adequate data for the picked explore subject. The inductive approach’s fundamental stage is the recognition. The discernment assists with amassing the reasonable information and manufactures the method for the research according to the information (Taylor, Bogdan & DeVault, 2015). Regardless, the author refers that the inductive approach makes prepared for another speculation working for any research subject. The deductive approach incorporates the helpful usage of the theories and those hypotheses can be valuable to pick up induction to the research paper’s substance. Deductive’s approach will likely develop a speculation with more points of interest and data inquire about thoughts. In any case, the researcher depending upon the research subject and the possibility of the research, the research approach is picked. The approach is helpful in examining the research subject (Flick et al., 2015).

Justification for assurance of the picked Approach:

In this paper, the research point will endeavor to understand the thoughts related to information technology and retail business. The research topic needs assurance of an approach that can be helpful in understanding the association between the information technology and retail business. The researcher has fail to execute the inductive approach for the research topic, so the researcher begins new thoughts or theories. Further, the association between the data innovation and independent ventures helps in looking at the thoughts in inconspicuous components.

The author speaks to the research outline and this research design assists with demonstrating the arrangement of the research topic. At the period of data amassing, the researcher gets an unmistakable approach. The research approach is valuable in delineating the research design. There are three sorts of research outline that are considered and they are intelligent, exploratory and clear.

Exploratory arrangement causes the researcher to aggregate contemplations and considerations that are relied upon to complete the research. The instructive research arrangement describes the occasion of the scenes related with the research. At last, the graphic’s plan will likely gather unpretentious components with proper delineation of the research subject (Flick et al., 2015).

Educational application has been rejected for this research as the Descriptive application supports the longitudinal research thought. The particular plan is fit to portray the association between the information technology and retail business. The research outline has been picked as the picked examine design.

The analysts consider the data as social event of realities and data and data aggregation drives the research in powerful and moral way. The author indicates that the data collections help in surmising reasonable results to a research framework. The data gathering enables standard arrangement of the research contemplate.

The data sources are needful to separate the research subject well. Essential and the auxiliary data sources help in gathering a regularly expanding number of experiences about the research topic. The author elucidates that essential data helps aggregate rough data and the unrefined data can be passed on as per investigate point requirements (Vaioleti, 2016). The data must be accumulated from strong sources and the data must be significant.

In the research paper, the essential sources incorporates interface between the information technology and retail business. The researchers consider the written work wellsprings of the piece as yield achieved through discretionary sources. The gadgets of the auxiliary sources contain separated sources and the online sources like the reports, books and the journals.

Subjective data assists with taking record of the record kind of the data. The subjective data incorporate better depiction of the research topic. The author says that the subjective data helps the incorporating theoretical thoughts more in the utilitarian field. Thusly, the subjective data helps in better perception of the point, which is not possible in case of quantitative methodology (Gast & Ledford, 2014). Quantitative data uses the quantifiable data with the end goal that it can record data having immense case sizes. In the research think about, the customers will be contemplated for the quantitative research consider. The boss in this research study will be considered for the subjective research.

Population is the amount of people that are connected with the research contemplate. In the research consider, the respondents are the ones who are either for or against the topic. These respondents are considered as the masses for the research contemplate. The respondents will give their points of view and bits of knowledge wherever all through the world (Brinkmann, 2014). It is not workable for the analyst to take investigation of the significant number of people of the world. That is the reason only a bit of social event of respondents will be taken as test. They will give their appraisals. They will be heard and their feedback will be considered for the research consider.

Tests that are accumulated to grasp the association between the information technology and retail business. The illustrations are assembled by essential sporadic probability tally and no criteria have been thought about. The illustrations will be taken as online survey. The respondents are asked for to share in the research. The review is performed in view of Linkert’s scale. The scale ranges from 1 to 5.

The case measure is segregated into quantitative and subjective systems. To finish the quantitative research 50 respondents’ view will be assembled for the research ponder. Their info will be taken as the online review shapes. Simply the quantitative research will be driven so the respondents will fill the quantitative structures.

At the period of coordinating the research, the analyst requires to take after the arrangement of acknowledged standards. The arrangement of standards helps in perceiving the wrong and the right game plan of practices (Brinkmann, 2014). In case the researcher coordinates the research work ethically then that can build the estimation of the research point.

Relationship of the Respondents: The researcher will try not to pressurize the respondents. Respondents who will take an intrigue will be engaged and their decisions and feedback will be contemplated.

Respondents’ Anonymity: It has been ensured that any sort of physical and mental incitement would not be locked in. The individual purposes of enthusiasm of the respondents won’t be revealed under any conditions (Brinkmann, 2014). The respondents themselves are not willing to uncover the purposes of intrigue so if anyone slights the lead he or she will be rebuffed.

The research consider incorporates certain imperatives that are avoidable and non-avoidable. The author commented that each research is connected with limitations and it is extremely typical. The imperatives help to describe the research scope, investigate limits and the research limits. The regions, which incorporate the research requirements, are:

Unwavering quality: The respondents that will participate ought not to be under any kind of weight. They can be uneven and that can affect the research revelations an awesome arrangement. It will horribly affect the research revelations and the entire research will persist along these lines. Subsequently, the issues related to relentless quality are accessible in this research.

Timetable: The analyst has no time left because of the cross-sectional nature of the research. The analyst don’t prepared to investigate significantly and in this manner the research work will be to some degree affected or can get deferred in view of nonattendance of fitting research inside the timetable set.

Financial plan: The researcher can go up against issues related to the money related arrangement. Nonattendance of financing for the research can end up being unsafe for the research. The data explore quality will be greatly affected. It may happen that the wander will crash and burn. The fiscal remittance is most likely a limitation, which the analyst needs to think about genuinely.

The area describes distinctive instruments and the systems that can be helpful in the research of the wander subject. The analyst will endeavor to coordinate the research consider after a couple of research systems. They will take after the best research system following which they will continue managing the assignment. They will finish the data think about part for the research in perspective of the research strategy they have followed in this area. The research framework instruments will help them in cognizance or separating the association the between the data innovation and independent companies.

Data and information has been collected by conducting online survey by creating google forms. 50 customers using online purchasing have been selected as participants in this research. 6 close-ended questions have been added in the survey questionnaires. The questions are related to the benefits and limitations related to adoption of IT in retail business.

Options	Number of responses	Percentage of responses	Total Respondents
Male	26	52%	50
Female	24	48%	50

Options	Number of responses	Percentage of responses	Total Respondents
Below 20 years	8	16%	50
20-25 years	13	26%	50
26-30 years	16	32%	50
31-35 years	10	20%	50
Above 35 years	3	6%	50

Options	Number of responses	Percentage of responses	Total Respondents
Below 1 year	8	16.3%	50
1-2 years	10	20.4%	50
3-5 years	10	20.4%	50
5-7 years	13	26.5%	50
Above 8 years	8	16.3%	50

Options	Number of responses	Percentage of responses	Total Respondents
Strongly satisfied	11	22%	50
Satisfied	9	18%	50
Neutral	10	20%	50
Dissatisfied	13	26%	50
Strongly dissatisfied	7	14%	50

Options	Number of responses	Percentage of responses	Total Respondents
Customer Satisfaction	11	22%	50
Technology edge	9	18%	50
Quality products and services	10	20%	50
Online transaction	13	26%	50
Automating processes	7	14%	50

Options	Number of responses	Percentage of responses	Total Respondents
Customer Dissatisfaction	15	30%	50
Improper Inventory management	7	14%	50
Data Misuse	13	26%	50
Smart Phone dependability	5	10%	50
Online transaction security issues	7	14%	50

Interview has been conducted in order to perform qualitative analysis. Three managers of different retail businesses have been selected as participants in interview. Three open-ended questions have been asked to the participants and their answers are recorded as data and information.

1st Manager	2nd Manager	3rd Manager
“According to me, It has helped in providing quality customer service in the market. This has helped in increasing customer satisfaction level.”	“I think that IT has helped in involving technological edge in the business. Various technology including online database have helped in storing data and information of customers.”	“As per my view, IT has helped in initiating online transaction of money during the purchasing. Customers are allowed to pay their bills through online payment gateway system. This reduces the complexity in the payment process.”

What are the problems of information technology in your company?

1st Manager	2nd Manager	3rd Manager
“According to me, data misuse has been a major problem of IT in our business. Data and information of customers are leaked surprisingly in our company.”	“I think that online transaction insecurity has been a major problem in my company. Transaction failure has been common with the adoption of IT in our company.”	“As per my view, improper inventory management has been creating loss of products and financial loss to the company. Dead stock has been a challenge for the company.”

 What are the solutions to these problems of IT in your company?

1st Manager	2nd Manager	3rd Manager
“According to me, security it the database of the company have to be increased with the use of encryption and other algorithms.”	“I think that use of proper server ad network might help in proper transaction between company and customer.”	“As per my view, proper inventory management is required. Clearance of dead stock

Data has been collected from both quantitative and qualitative method including online survey and interview. According to the graphs and tables, 52% of participants in the online survey are female and 48% are male. IT reflects that the females are more interested in the study and online shopping. Therefore, retails businesses need to focus more on the women items. As per the tables and graphs in the second question, most of the participants are between 26-30 years of age. 26 % participants are between 20-25 years old. Therefore, it reflects that most of the customers availing online shopping are youngsters of age between 20-30 years old. Therefore, companies need to focus on the needs and expectations of the young customers in the market. In the third question, 26.5 % of the participants are using online shopping for more than 5-7 years. 20.4 % participants are using internet for 1-5 years. Therefore, companies have to focus on its online marketing as most of the participants are using online shopping for a long time.

Most of the customers are satisfied with the implementation of IT. However, some of the customers are not satisfied with the adoption of IT in the retail businesses, as there are various limitations of the IT. The benefits of the IT in the retail businesses have been described in the next question. Correspondence is the fundamental procedure for the advancement in the organization in the market. Correspondence assumes an essential part in upgrading the execution of the retail business in the market. Correspondence among worker of the organization help in keeping up an extemporized situation. This assistance in upgrading the creation and offers of the organization in the market. An appropriate correspondence between the client and friends helps in keeping up a quality relationship. This assistance in expanding the matter of the organization in the market. The CRM of the organization helps in giving a superior chance to the business to develop in the market at a legitimate pace. Evaluation of the performance of the company in the market can be done using the information technology. Further requirements and improvements in the strategies of the company needs to be evaluated that help in maintaining and increasing the performable of the companying the market. According to the graphs and tables, 28% participants have been benefited by the automation process of the IT.

The use of the IT in the retail sector has helped in online transaction of the money and payment for purchased products. The use of the IT have helped in providing technical awareness to the customers by using their websites. ON the other hand, there are several limitations of the IT adoption in the retail businesses. The online marketing and retailing have helped in increasing the customer’s base of the company in the market. The company has been able to target maximum number of customers all over the world. The young customers are online over the social media and other websites. This technology has helped in business including the retail business. Retail business has been a growing sector with the influence of the online marketing and advertisement. Therefore, the use if the information system might help in maintaining the revenue in the business. The use of the information technology have helped in maintaining the performance evaluation of the company in the market. This helps in improving the performance of the company in the market by identifying the loopholes and gaps in the business. Customer tries to neglect such companies for purchasing online products. Therefore, this can be major issues of the implementation of information technology. The use of information technology have created this problem related ti the cyber-attacks. Several viruses and malwares are injected into the server of the retail business that breaches financial data and information from the gateway channel. The use of the IT in the retail sector have helped in maintaining the speed of manufacturing in the industry by maintaining accuracy level in products.

Conclusion

It can be concluded from the study that the use of IT in the retail business have both benefits and limitations. The use of IT in the retail business have helped in increasing the revenue of the business in the market. The use of the IT in the retail sector have been increasing the growth of the retail business in the market. Various companies in the retail business have been adopting information technology for attracting several customers in the market. The initial problems faced by people of the world has been discussed in the study. This study has focused on the importance of the IT in the retail business.

A retailer is a researcher or a business association that is in charge of the offering of the items and merchandise in the market. Retailer is in charge of purchasing, offering, evaluating and hazard exchanging the market. Retail business has been ascending in the market with the usage of the data innovation. The online transaction of payment of purchased products has been possible due to the information technology the storage of data has been easy with the help of cloud computing. The implementation of the information system in the retail business have created issues in the inventory management and transaction problem of the customers. There have been many cases of failure in transaction during the portal. Online threats and cyber-attacks have been a major issue in the retail business. The literature review has helped in analyzing the concept of information technology and retail business. Factors affecting the adoption of information system in the retail business has been described in the study. Types of retail marketing has been discussed in the study. The benefits of the information technology in the retail business has been critically analyzed in the study. The challenges of the adoption of the IT in the retail business have been explained in the study. The business has been confronting different disappointments in the market for executing IT frameworks. Different retail organizations have been beginning in the market that are in charge of the retail business in the market. The data innovation has helped in expanding offers of the organization in the market.

The benefits of the IT in the retail business has been identified in the study. Online transaction has been one of the major advantage of IT in the retail business. However, there are some limitations in the adoption of IT. There are some recommendations provided in order to mitigate these challenges.

Cloud Computing: Cloud computing is a technology that helps in providing various services to the organization. The retailers might avail cloud services in their company that might help in providing proper services to the customers. The use of cloud storage helps in storing data and information over the internet. This might help in minimizing the cost of extra hardware for storing data and information. Access to those files and data can be done from anywhere in the world with the help of the internet.

Encryption technique: This technique helps in encrypting data and files into a packet that helps in improving the security of the data and information. These data packets are encrypted with a key that is only known to sender and receiver. The use encryption techniques helps in minimizing the cyber risks over the internet during transaction and transfer. The use of the encryption technique include various algorithms that helps in providing security to data and information of the user. 

This research has focused on the benefits and limitations of the information technology in retail business. The use of the information technology has been properly described in the study. Factors affecting adoption of information technology in the retail business. In future, researcher might focus in new theories and models depending on the research topic. The future research might focus on the solutions to the challenges in the information technology in the retail business.

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