• A.DANAM TRESSA

ABSTRACT Retail industry covers aspects of dealing with the sale of goods to the general public in the market. Smart retail is a new concept and a leading provider of loss prevention and security tools that will not only guard assets – but alert you to potential risks. Smart retail uses industry-leading video-analytics technology to allow retailers to optimize operations by respond¬ing quickly to customer needs and market trends. Smart retail goes beyond the basic traffic counts of people in and out of a retail store by giving you in-depth analytics to match the data. Smart retail is a term that we have created to describe a set of intelligent technologies that are designed to give the consumer a more exceptional, faster, safer, and smarter experience when shopping. This paper uses data, part collected and part hypothetical, based on sales record and profit margins to study the shelf space allocation decision in a retail store using system dynamics approach. A world in which nearly everybody now carries around a smart device – i.e., the smartphone – is what has enabled this similar revolution in retail. It can be used to house online stores, as a catalog and directory for 'real' stores, and now increasingly as a direct means of payment for goods and services. What’s more? It acts as an excellent solution to assist managers and store-owners to identify the best-selling products and allocate an appropriate shelf-space. The paper sets down a foundation study towards the application of an analytics based system to identify various product categories in a retail store names Shop n Save and allocate shelves appropriately. This will purely be based on the previous history of the product such as sales, profit and profit margin etc.

Keywords: Smart retail, in-depth analytics, smartphone

"A STUDY ON INSIGHTS INTO SMART RETAIL USING IBM COGNOS INSIGHT", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.7, Issue 5, page no.518-524, May-2020, Available :http://www.jetir.org/papers/JETIR2005384.pdf

"A STUDY ON INSIGHTS INTO SMART RETAIL USING IBM COGNOS INSIGHT", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 5, page no. pp518-524, May-2020, Available at : http://www.jetir.org/papers/JETIR2005384.pdf