Technology in Fashion and Retail

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Technology in Fashion and Retail

Cari GelleGD1400 Computer Applications

Agenda

1. FRM Definitions

2. Purpose of Retailing

3. Use of Technology

4. 21rst Century Skills

FRM’s Definition of Fashion:

“Something temporarily accepted as popular . . .

only to be discarded, and replaced by something new. . .

. . .again?”

FRM’s Definition of “Retailing”:

“All the business activities involved in selling goods or services to ultimate consumers for their personal use.”

The Purpose of Retailing *

* The “Marketing Concept”

Why are we here?

What is the “Why?” of Retailing . . .

Why . . .?

To Satisfy the Customer . . .

And . . .

To Make Money.

How do fashion and retail companies use technology?

To gather information – to understand consumer behavior.

Data from Point-of-Sale transactions and marketing surveys shows what consumers want, how badly they want it, how much they will pay for it.

Data from credit card sales shows all that and more, how often they shop, when they shop, how much they spend per transaction.

How do fashion and retail companies use technology?

To communicate to: Customers Manufacturers & suppliers Team members Communities

Retailers use proprietary systems, and even applications like PhotoShop and InDesign, as creative, visual media or technology for communication.

How do fashion and retail companies use technology?

To analyze information – identify patterns, calculate, forecast and predict.

Retailer’s proprietary systems, and especially MS Excel, organize and manipulate data to mathematically calculate future scenarios.

Past information, plus sophisticated or simple calculations can predict the future.

How do fashion and retail companies use technology?

To improve decision making.

How do fashion and retail companies use technology?

To manage strategies and manage profits.

Retailers’ Merchandising Technologies

0102030405060708090

Improving Tech, next 12 mos

Using Tech

Jobs you might have someday that use retail technology:

C E O

VP of Finance

Director of FinanceManager of FinanceFinancial Analysts

VP of Store Operations

Director of StoresRegional ManagersDistrict ManagersStore ManagersAssistant Store ManagersDirector of Store PlanningStore Design TeamReal Estate TeamDirector of LogisticsLogistics ManagersDistribution Center ManagersDirector of Assets Protection

VP of Marketing

Creative DirectorMarketing ManagersAdvertising CoordinatorsSpecial Events PlannersGraphic Designers

VP of Merchandising

Directors of MerchandisingSenior BuyersBuyersAssistant BuyersDirectors of Product DevelopmentProduct Development ManagersProduct Development CoordinatorsDirectors of SourcingSenior Product ManagersProduct ManagersAssistant Product Managers

VP of Merchandise Planning

DDirectors of PlanningPlanning ManagersSenior Business AnalystsBusiness AnalystsInventory Control ManagersManagers of Merchandise PresentationMerchandise Pres. Coordinators

President

So what will I need to make it?

A few 21rst Century Skills

You’ll want

In your repertoire . . .

21rst Century Skills

Digital Citizenship

Creativity &

Innovation

Communication&

Collaboration

Critical Thinking,Problem Solving,Decision Making

Technology Operations & Concepts

Standards for Students

Educational Technology

Research, Information

Fluency

Creativity &

Innovation

Good Luck to You!

AIFRM’

s

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Resources•Barry Berman & Joel R. Evans, Retail Management, A Strategic Approach, 10th Edition. Pearson-Prentice Hall, 2007.•Jay Diamond & Sherri Litt, Retailing in the 21rst Century, 2nd Edition, Fairchild Books, Inc. 2009.•Rona Ostrow, The Fairchild Dictionary of Retailiing2nd Edition. Fairchild Books, Inc., 2009.•Cari Gelle, Lecture Content, Introduction to Retailing, Art Institute International of Minnesota, 2010.•KelliRae Sebwe, Lecture Content, Fashion History I, Art Institute International of Minnesota, 2010.•Scott Hardy & Tracy Mullin, Retail Horizons: Benchmarks for 2004, Forecasts for 2005, Bearingpoint, Inc and National Retail Federation Foundation, 2005.•International Society for Technology in Education, National Educational Technology Standards, for Students, 2007.•StockExchange, Stock photography, various contributors, 2010.•Getty Images, Stock photography, various contributors, 2010.

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Cari Gelle, Fashion and Retail Management

Questions?