Introduction:
This report mainly empathizes upon the future of retail stores in relation to a particular retail organization. This report also highlights the current operations of the stores and various recommendations for improving its current operations for enhancing sales and productivity of the organization using a number of journal articles. For effectively understanding the overall fact about the future of retail the Australian based largest retail organization Woolworths has been chosen in this particular report.
Analysis:
Woolworths retail is the Australian based largest supermarket chain which offers a wide range of retail products such as grocery, fresh food, clothing, electronic and home appliances. Currently the company operates its business in more than 1088 retail stores across Australia and New Zealand. The company has acquired 46% of market share in the Australian retail market. The prime competitors of the Woolworths are Coles and Aldi. The fresh food people campaign of Woolworths has achieved a success in the food retail market. The company also has more than 111,000 employees in different stores of Australia and New Zealand. Currently the sales growth of the fresh food products has been declined due to lack of online presence.
Current operation of the store:
According to Eriksson, Strid and Hansson, (2012) it can be observed that the sales growth of the fresh food will be increased in future by adopting hybrid online channels for attracting a number of customers. Internet technology has brought a new opportunity for the retail stores to enhance their sales in online channels. Online shopping has become an important part of any retail business for increasing the customer base. The management authority of Woolworths is expected that within upcoming 20 years the habit of online purchasing experience of the customers will be increased due to rapid change of technology and lifestyle. The report also highlighted that the various kinds of new technologies adopted by the organization will help the customers to purchase the fresh food from online using a number of devices such as mobile, computer and laptop. Through the help of this online technology the Woolworths can meet the ever changing needs and demands of the customers. In addition, both the physical stores as well as online stores of Woolworths will enhance the shopping experience of the customers (Black, Clemmensen, and Skov, 2012). The customers can get their fresh food products at door stop that will help to save the valuable time and extra costs of the customers.
Conclusion and recommendations:
From the entire discussions about the future of retail stores in the context of Woolworths it can be recommended that in order to meet the ever changing needs and shopping experience of the customers, the organization should focus on its online channel. With the help of online channels, the sales growth, productivity and revenue of the organization can be increased.
It is evident from the entire report that the rapid globalization of technology has brought opportunity for the retail stores to develop their online presence that will help to increase sales growth and profitability of the organization in future.
