Retailing as simply defined is the end process of supply chain management where there is a direct interaction with the end-user or the customer. The word “Retail” has its origins in the French verb “Retailer”, which means “to cut up”, and refers to one of the fundamental retailing activities which is to buy in larger quantities and sell in smaller quantities. Retailing is an integral part of the value chain in an organization. It is a function that provides the ‘last mileage connectivity’ between an organization and its customers. In many parts of the world retailers have emerged as one of the most potent forces in influencing the performance of the value chain.
Retailing involves the sale of merchandise from a fixed location, such as store,
…show more content…
It is not just the global players like Wal-Mart, Tesco and Metro group are eying to capture a pie of this market but also the domestic corporate behemoths like Reliance, KK Modi, Aditya Birla group, and Bharti group too are at some stage of retail development. Any business to consumer interaction in the present context can be termed as retailing. Retailing, therefore, encompasses all forms of direct marketing too, in its broader sense and all above activities perform by retailers in …show more content…
A retailer is a person who specialises in selling certain types of goods and services to consumer for their personal use. Retailer organise the availability of merchandise on a large scale and supply them to consumers on a relatively small scale. In the process, they provide the accessibility of the location and convincing of time size, information, and lifestyle support. When retailer perform this activates, they create value for their customers, who pay for these services. These values are created continuously through a combination of service; price, accessibility and experience. There are many kinds of retail stores including grocery stores, department stores, speciality stores, convenience store, chemist stores and fast food outlets, among others. Retailing is the business of buying goods in large quantities from a manufacturer or a wholesaler and then selling these products and service to consumers for fulfilling their personal or family needs. A retailer is, in fact the final link in the distribution channel connecting the manufacturer with the
In this article, retail expert Kimberly Greenberger explains that in today’s world, more and more consumers are going online to buy merchandise, causing traditional brick-and-mortar retailers to struggle. Retailers especially taking a hit to profitability are department stores, either freestanding or those anchored in large, regional malls. As we have learned in class, there are many marketing and retailing techniques that can be used by these stores to gain a competitive edge and drive profits upward again. As we discussed in the Bass Pro Shops case study, many retail stores are suffering from the show-rooming effect.
The retail segment has its primary focus on food. Other components of the retail segment include associate – owned drugstore, in-store pharmacies, gas bars, apparels and other general merchandise. This particular
Stores are located in small towns, big cities and everywhere in between. Most often found in strip malls and surrounded by other successful complimentary businesses, they are contained within 8,000 to 10,000 square feet. Integrating
the business needs to sell and distribute the products to wholesalers who will then sell them to retailers. Or the business will sell directly to the retailers. We would sell our product in the supermarket at the front, or the cereal aisle because it would instantly grab the customers attention when they come into the store. Also it would be wise to put our product in the cereal area because people might shop by
Shopping has become a daily activity which happens a billion times in around the world. People cannot imagine how their life would be affected if shopping was suddenly stopped. Malcolm Gladwell and Anne Norton both write articles about two sides of modern day shopping. How consumers have impact the retail industry and how the retail industry influences consumers. Because of the surveillance of consumers by retail anthropologist, they both impact each others.
01.01 Explain what is meant by customer service in the retail sector Customer service is vital in the retail sector as it can make or break a business. If the retail business does not have the monopoly on the products or services it provides, they must introduce tools and behaviours that will entice customers into the business instead of the market competitors. Customer service plays a major role as it is usually engrained in the business plan and continually evolves. Customer service is essentially the interactions between a business and the consumer, however the interaction is the responsibility of the business and the consumer is aware of this. Customer service can occur face to face with consumers, over the telephone, written correspondences either postal or email and also online through the retail website or social media.
The retail brand has formed a close association with its employees thus ensuring that they also play an active part in decision making. In effect, the company has divided itself into different segments that enable the manufacturers to produce goods that move fast within the
While vis-ual merchandising is set of activities most commonly inside the store aimed at attracting consumer attention, merchandising can be defined as set
Introduction As the world we live in today continues to flatten, new channels begin to emerge across the globe. The technological age that we live in today has forever changed they way retailing functions, creating new opportunities for international success. However, the thought of internationalization can be daunting for many retailers, especially due the large history of retailers who have expanded internationally and then failed. Although this type of expansion can be overwhelming, if done properly, the new retail format can generate a great deal of success for the retailer.
Retail positioning aims to provide competitive edge by differentiating the retailer from its competition. This differentiation can be achieved through retail offerings that appeal to, and are easily identifiable to by its target market. This process is done by selecting market segmentations and matching them to the retail offerings as precisely as possible. It is vital to understand the consumers needs and wants in order to make a proper match and be distinguished from other retailers. Nordstrom distinguishes itself from other retailers by positioning itself as an upscale fashion store with outstanding customer service, and its multichannel approach.
The study will apply various theoretical models in order to highlight the overall performance of Eataly, evaluating the factors that play an important role for the success of Eataly. Eataly is an Italian market being the largest all around the world; it offers variety of food and beverages, restaurants, retail items, bakery as well as cooling school. The study will provide an overview of Eataly, and the challenges they faced while operating within the market place. Retail industry presents relation between producers and consumers, thus, it allows the industrial firm reaching the market successfully and develop two way information transfer and services. according to Sebastiani & Montagnini (2014), among distributors, the grocery stores covers
The sector is witnessing a radical change as traditional retail markets are replacing with new formats such as discounts stores, departmental stores, hypermarkets, supermarkets etc. In this competitive environment the retailers are more forced to concentrate towards Customer service & their satisfaction. In retail stores, the customer service is includes like counter service, billing the products, offer explanation to customers, providing them coupons, explain the product
The Value Chain 4 4. Operations Strategy Implications (Store level) 5 5. Inventory Management and Demand Forecasting 9 6. Supply Chain Management 9 7. Quality Management 11 8.
CASE STUDY HINDUSTAN UNILEVER- TRANSFORMING A BRAND INTO A SOCIALLY RESPONSIBLE LEADER. 6/30/2015 Amity International Business School Aditya Agarwal A1802014167 Faculty Guide- Dr. Kokil Jain Industry Guide-
1.0) Introduction 1.1) Background During the past decades, the retailing industry has gone through many important changes. Saturated markets, fierce competition, and the turbulent macro-economic environment have condemned retailers to reconsider their retail strategy. Actually there are four factors which have constantly been reshaping the world of business – technological advances such as the internet, the loss of geographic advantage resulting from globalization, the shake-up of the traditional industries as a result of de-regulation and the rising power of the modern and complex consumer. However one of the most important factors remains the evolution of the Internet.