BUSINESS 4.0 ADVANTAGES OF DIGITAL TECHNOLOGIES FOR SMALL RETAIL BUSINESS IN MEXICO: BUSINESS 4.0 AS STRATEGY

Abstract

This study explores the advantage of technologies in small retail businesses in Mexico.

For the study participated seven retail companies in Mexico, different retailers: Jewellery, Bulk food, Fashion Clothes, Beverages, Products for cleaning, Hardware store and beauty & personal care. The results showed that there are technologies that these businesses need, and some of them already use, the more essential are POS (Point-of-sale), card machines, Whatsapp Chatbot, social media for marketing,

The result showed that even in small companies, technologies are an advantage to keep competitiveness. Technology has an impact on the effectiveness of businesses processes.

A traditional store giving the option for customers to pay with cards can increase sales; a specific example is a traditional fashion store in a small town in Mexico where not every home can afford the Internet. For traditional retailers, using technology on payments is a step to get on board in using technologies.

Even a traditional hardware store with more than 2000 products need a point-of-sales to stock management. Every sale register in the system will automatically actualise the inventory. The same system creates sales reports of star products and indicates when to repurchase stock.

An interesting finding is that two of the seven businesses have the option for customers to shop on their website.