Current Status and Future Implementation of Information and Communication Technologies (ICT) in the Retail Business

Abstract

This paper presents an assessment of the current status and the future prospective of Cyprus retail businesses in the utilization of Information and Communication Technologies (ICT). For this purpose a survey was administered to retailers whose primary business sector ranges from fashion, electronics, general merchandise and DIY. The survey mainly targeted supermarkets, department stores, chain stores and convenience stores. Data was collected from a representative sample of retailers in Nicosia Cyprus, using a simple random sampling technique. From the analysis carried out, it became evident that Cypriot retailers are mainly bounded to traditional solutions involving Enterprise Resource Planning (ERP) systems, although they highly value new technology both in back office and front office systems. Regarding their current status, it should be noted that most state of the art front office and back office systems unfortunately are not in use. On the other hand, retailers in Cyprus highly associate the strategic aims of their organizations with new technology solutions.