Retailing is the transaction of goods between the seller and the end user as a single unit or in small quantities to satisfy the needs of the individual and for his/her direct consumption.
Retailing refers to a process where the retailer sells the goods directly to the end-user for his own consumption in small quantities. The article discusses about different types of retail outlets.
Retailing is the process of selling goods to the consumers for their end use in small quantities. Let us understand in detail about the various ways a consumer can purchase goods from a retailer.
According to the concept of retailing, a retailer doesnt sell products in bulk; instead sells the merchandise in small units to the end-users. Lets understand the various pricing models in detail.
Retail Merchandising refers to the various activities which contribute to the sale of products to the consumers for their end use. It helps in the attractive display of the products at the store in order to increase their sale.
The display of merchandise at the store plays an important role in attracting the customers. Cross merchandising refers to the display of opposite and unrelated products together to earn additional revenues for the store.
The art of increasing the sale of products by effectively and sensibly displaying them is called as visual merchandising. The store must offer a positive ambience to the customers for them to enjoy their shopping.
Retail Management referes to all the processes which help the customers to procure the desired merchandise from the retail stores for their end use.
This article provides an introductory overview of the key characteristics of a retailer, the functions performed by a retailer in todays competitive world and services offered by a retailer to the customers as well as wholesalers.
The article provides an elaborate coverage on the various kinds of store formats, the key features of some of the important store formats along with the relative advantages and disadvantages have also been explained.
This article provides a comparative assessment regarding the key factors which differentiate product retailing from the service retailing. A description is equally provided the major areas of differences between wholesaling and retailing, their comparative advantages and format of business operations. Coverage is also provided on the key terminologies which are often used for describing the retail business, and its functioning as an integrated system.
Let us suppose all the products available at the store are stocked at one place only. The concept of segregating similar products into separate groups is called as category management
Nowadays, where the end-user has several options to rely on, it is essential that the retailer promotes their brands well amongst the masses. Let us go through some tips to promote a retail brand.
The advertisement must effectively communicate the right message and click on the customers. Advertisements have taglines to create awareness of a product or service.
The main retail operations include – Cash handling, Safety and Security, Customer Service, Refunds and Returns, Visual Merchandising and Inventory and Stock Management.
Opening a retail store requires meticulous planning and detailed knowledge. Lets study different floor plans and tips for a better store design and layout.
Signage plays a very important role in Retail Industry. It helps the customers to easily reach their desired destination by simply following the instructions displayed on it.
Coupons play an important role in attracting the customers into a retail store. It helps in building the brand image of the retail store without a huge investment.
There are several factors which affect the buying decision of the customers at a retail store. Lets understand these factors in detail.
The article discusses in detail about the tips and suggestions required to be a successful retailer.
The store manager is responsible for maintaining the overall image of the store. Lets understand the roles and responsibilities of a store manager in detail.
The dummies used by the retailers to display their merchandise are called as mannequins. Mannequins help the customers to understand what would look good on them.
Planogram enables the retailers to stock the products at the right place and at the right time to attract the customers. Lets understand the need and importance of planograms in the retail sector.
Every retail chain has its own warehouse to stock the merchandise to be used when the existing stock replenishes. Inventory management refers to the storage of products to be used at the time of crisis.
The article provides a vivid description of the stages of evolution of retail sector and how the traditional retail formats have evolved from unorganized small sized stores to large and organized stores in an Indian context. Moreover, the article further attempts to analyze the crucial factors which have been playing a key role in driving change in the retail sector in India.
The article describes the Social and economic significance of Retailing and how the recent changes in the industry have contributed in fuelling economic growth and productivity, generated opportunities of employment and revamped the social framework.
This article provides a vivid description of the performance of Food Retailing in India and its comparative performance also across the global platform. The challenges and opportunities ahead in the future for Indian Food Retailing industry, key ruling parameters which will be providing a competitive edge to the major players in the industry are also discussed and their effects in steering opportunities for growth for the organizations.
In this article Five Forces Model of Michael Porter has been used for describing the challenges to the retail industry in the contemporary global scenario. The five forces which have been analyzed are Threats from the Competitors, Threats from the Substitutes, Bargaining Capacity of the Buyers as well as the Suppliers and the strength of the rivalry amongst the existing business players in the industry. These Five forces can provide a vivid picture of the intensity of the existing level of competition, the potential opportunities for growth or the factors which may lead to the possible decline of the retail industry.
This article provides an understanding of the difference between the terms customer and consumer, the key areas of differences and analyzes the buying behaviour patterns of customers. Various factors which govern the buying behaviour of customers such as the requirement of the customer, the buying capacity of the customer, durability of the product, place of purchase and various other factors.
The Indian Retail Industry is on the cusp of a transformation in its very structure and the way in which it interfaces with consumers. Indeed, it can be said that the transformation that has been going on for some years is now poised to actualize another change in the way the Indian Retail Industry operates. From the ubiquitous Kirana store that we have known from our childhood days as the symbol of the industry and the retail experience to the now familiar malls and multiplexes hosting Coffee shops, known as Kopitiams, the face of the Indian Retail Industry is changing beyond recognition. The focus of this case study is on examining the broader forces and trends that are transforming the Indian Retail Industry and are shaping newer modes of shopping and the retail experience.
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