An effective retail information system allows a retailer to foresee opportunities and to avoid crises.

Question

Quizplus · Accepted Answer

An effective retail information system provides a retailer with valuable insights into consumer behavior, inventory management, sales trends, and market demand, enabling them to forecast opportunities and plan accordingly. By analyzing sales data and trends, retailers can adjust their strategies, optimize their inventory, and identify potential issues before they become significant problems. This can help retailers avoid crises such as stockouts, overstocking, and customer backlash. Therefore, an effective retail information system can be an invaluable asset for retailers looking to stay competitive and profitable.

An Effective Retail Information System Allows a Retailer to Foresee