Which of the following is a positive impact of technology on retailing?

The influence of technology in retailing has brought about numerous enhancements, particularly in the way businesses conduct their transactions. The correct answer highlights that technology enables faster and more efficient business transactions, significantly improving the overall operational speed and accuracy. By leveraging advanced systems, point of sale (POS) technologies, and automated processes, retailers can streamline transactions, reduce wait times for customers, and minimize the potential for human error involved in manual processing.

This impact not only benefits the retailers themselves through reduced time and labor costs but also elevates the shopping experience for customers, leading to increased satisfaction and loyalty. When transactions are processed quickly and accurately, customers are more likely to return, fostering a positive cycle of efficiency and customer retention.

In contrast, the other options reflect scenarios that are not representative of the benefits technology is meant to provide. For example, decreased competition is not a direct result of technology; rather, technology often levels the playing field by allowing even small businesses to compete effectively. Increased reliance on manual processes contradicts the very goal of technological advancement, which is to automate and enhance efficiency. Similarly, higher customer service demands without technology would indicate a regression rather than an improvement in customer relations. Hence, the focus on faster and more efficient transactions emphasizes the transformative power of technology