RETAIL MANAGEMENT

• Retailer


  Comes from the word “retailler” which means “to cut-up”
• Retailing includes the activities of buying bulk quantity and selling in small quantity
• Baker (1998): 'Define retailing as ‘any establishment which is engaged in selling merchandise for personal and household consumption and rendering services required for the sale of such goods’'
• Retailing


  The activity of selling goods and services to the final consumers for their own personal use
• Retailing


  Concerned with getting goods in their finished state, handing them to the final consumer/customer who are prepared to pay for the pleasure of using a particular product
• Distribution Channel

  1. Manufacturer

  2. Wholesaler

  3. Retailer

  4. End-user (Customer)
• Benefits of the end user from the retailer:
• Benefits of the end user from the retailer

  • Located at a convenient/suitable place
  • Multiple product range
  • Selling goods in quantities suitable to the customer's requirement
  • Ensuring a smooth running of the various retail processes
• Customer Convenience


  Brings the goods to the doorstep of the customer from the manufacturers
• Accessibility


  Makes things valuable by making them acquired and used by the consumer
• Convenience of Size


  Retailer breaks bulk and serves products and quantities and sizes as desired by the customers
• Associated Services


  Provides customers a large number of attached services like public utility, electric power, living standard of the people
• Supply Chain


  Retailers are part of the supply chain. They participate in the sorting process of goods and services from a wide variety of goods
• Mobilizing Finance


  Mobilizes the investments and savings of people. Completes transactions and delivers goods
• Economic Development


  It is an intrinsic part of the economy. One of the most important industries in the world
• Employment


  Huge manpower is absorbed by the retail industry, including both educated and uneducated, skilled and unskilled labor
• Social Responsibility


  Successful retailers also try to identify what people want and how retailing can be improved
• Retail mix


  The most basic characteristic used to describe the different types of retailers
• Retailer characteristics

  • Type of Merchandise and/or service offered
  • Variety and Assortment
  • Level of customer service
  • Price of Merchandise
• Retail merchandising


  The combination of strategies a business takes to encourage customers to purchase items in a retail store
• Retail merchandising

  1. Initial planning stage

  2. Execution stage