CariGelle GD1400 Computer Applications Technology in Fashion and Retail
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 . . .
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.
So what will I need to make it? A few 21rst Century Skills You’ll want In your repertoire . . .
21rst Century Skills Educational Technology Creativity & Innovation Creativity & Innovation Communication & Collaboration Research, Information Fluency Digital Citizenship Standards for Students Critical Thinking, Problem Solving, Decision Making Technology Operations & Concepts
Good Luck to You! AI FRM’s
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. CariGelle, Lecture Content, Introduction to Retailing, Art Institute International of Minnesota, 2010. KelliRaeSebwe, 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.
Questions? CariGelle, Fashion and Retail Management