Home / Knowledge / News / Information Technology / High price tags of IT & software likely to thwart retailers
High price tags of IT & software likely to thwart retailers
Mar '09
An estimate reveals that IT spend in the retail industry is normally 1.65%, which would be 1.6 million for a 100 million turnover business. With the current credit crunch, retailers would find themselves exceeding the 1.6% margin.

With a fall in turnover, they need to focus on the cost management principles to reduce IT spend and contribute to a better business.

Retailers need to examine the systems and processes on how they do things based on IT and its cost, and explore the opportunities for change, including the overall business strategy and objectives.

Exploring different cost models is a great opportunity to benefit from new services like SaaS (Software as a Service) which gives instant access to the latest versions of software at a much lower cost then acquiring, integrating and maintaining it.

Or else, the much expensive IT would turn a 'millstone' around the retailers neck.

Click here to read the complete article.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: AWI

Textiles | On 20th Jan 2017

Australian wool EMI at highest ever level in Au$ terms

The Eastern Market Indicator (EMI) managed to forge ahead by a...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Apparel/Garments | On 20th Jan 2017

Fashion etailer Fynd to offer Yepme product offerings

Online fashion retailer Fynd has signed a partnership with Yepme,...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Rahuul Jashnani

‘Online economy has changed the whole dynamics of buying habits.’

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search