Smart Retailing With Smartphones

From telegraph to telephone and from horse-drawn wagons to jets, the US built it economic superioity upon ever-expanding communications and transportation infrastructure bolstered with ever-improving technology. For the past two decades, you can add e-commerce infratructure in the form of the internet to the evolution of retail.

Smartphones offer the latest twist on retailing, and while many retailers moan about scan and scram shopping using smartphones to find the lowest price, the larger, smarter retailers are adapting using 'hyper-promotions' to get shoppers into their stores. According to a report by Retail Systems Research, 62% of retailers with revenue over $5 billion per year are using promotion pricing instead of using key item pricing, which was the successor to everyday low prices, versus only 23% of retailers with annual revenue under $250 million.