RETAIL
MANAGEMENT
- Jayati Singh
RETAILING
IS A PART OF OUR
LIFE
IN
RECENT PAST BUYING AND
SELLING HAS BECOME MORE
FORMAL AND BRAND
DOMINATED
TRADITINAL
FORMS CO EXSIST
WITH ORGANIZED RETAILERS.
RETAILING IS.
IT ENCOMASSES THE BUSINESS
ACTIVITIES INVOLVED IN SELLING
GOODS AND SERVICES TO
CONSUMERS FOR THEIR PERSONAL,
FAMILY, OR HOUSEHOLD USE.
It includes every sale to final
consumer ranging from cars to
apparel to meals at restaurants to
movie tickets. Retailing is the last
stage in the distribution channel
THE TYPICAL DISTRIBUTION
CHANNEL
MANUFACTU
RER
WHOLESALER
RETAILER
FINAL
CONSUMER
The Retailers Role in the
Sorting Process
DAVID GILBERT DEFINED RETAIL
AS- ANY BUSINESS THAT
DIRECTS ITS MARKETING
EFFORTS TOWARDS SATISFYING
THE FINAL CONSUMER BASED
UPON THE ORGANIZATION OF
SELLING GOODS AND SERVICES
AS MEANS OF DISTRIBUTION
What is RetailingRetailing includes all the
activities involved in selling
goods or services directly to final
consumers for personal, nonbusiness use.
Retailing may be understood as
the final step in the distribution of
merchandise, for consumption by
the end consumers.
Retail management is..
The
process of bringing the ultimate user to the
main producer through a series of stages where
retailing is the last one.
It
is not limited to quantities but to the exact
requirement of last user.
Bringing
about operational efficiency at this last
stage and making an environment so compelling
that the consumer looks no where else.
Retail
management is an
art.
It
requires a number of
management tool for a
complete end user
satisfaction.
Retail
management is
getting to know the final
user on behalf of a
manufacturer.
Issues in Retailing
How
can we best serve our
customers while earning a fair
profit?
How can we stand out in a highly
competitive environment where
consumers have too many
choices?
How can we grow our business,
while retaining a core of loyal
The Philosophy
Retailers
can best address these
questions by fully understanding
and applying the basic principles
of retailing, as well as the
elements in a well-structured,
systematic and focused retail
strategy.
Effective retail
management
The
retailer must keep a record of all the
products coming into the store.
The
products must be well arranged on the
assigned shelves according to size, color,
gender, patterns etc.
Plan
The
the store layout well.
range of products available at the store
must be divided into small groups
comprising of similar products. Such groups
are called categories. A customer can simply
walk up to a particular category and look for
A unique code must be assigned to each and every
product for easy tracking.
Necessary labels must be put on the shelves for
the customers to locate the merchandise on their
own.
Dont keep the customers waiting.
Make sure the sales representatives attend the
customers well. Assist them in their shopping.
Greet them with a smile.
The retailer must ensure enough stock is available
at the store.
Make
sure the store is kept clean. Dont stock
unnecessary furniture as it gives a cluttered
look to the store. The customers must be able
to move freely.
The
store manager, department managers,
cashier and all other employees should be
trained from time to time to extract the best
out of them. They should be well aware of
their roles and responsibilities and customer
oriented. They should be experts in their
respective areas.
The store manager must make daily sales
reports to keep a track of the cash flow. Use
software's or maintain registers for the same.
Remove the unsold merchandise from the
shelves. Keep them somewhere else.
Create an attractive display.
Plan things well in advance to avoid
confusions later on.
Retail comes from..
A
French word
To
cut off, clip off,
divide.
Characteristics of retailing
Direct
Sales
end user interaction
are in smaller unit size
but on frequent bases.
Location
is a critical factor.
Services
are as important as
core products.
They
offer an assortment of products.
Large
number of retail outlet in
comparison to other members of the
chain.
The
average amount of sales
transaction for retailers is much small .
Final
consumer makes many unplanned
or impulse purchase.
Retail
customer usually visit a store
even if website sales exists.
Functions of a retailer
1.
Providing an
assortment of
products
2.
Breaking the bulk
3.
Holding stock
4.
Providing services
Providing an assortment of
products
Provide
a large variety of
products.
The same as well as different
brands
Consumers thus have a wide
range to choose from.
Retailers balance the demand
from both sides.
They may specialize in one kind
of assortment.
examples
BREAKING THE
BULK
PRODUCERS
SELL IN
LARGE QUANTITIES
AND CONSUMERS
BUY IN SMALL
QUANTITIES.
HOLDING STOCK
HOLDS
STOCK FOR THE
MANUFACTURERS
MAINTAIN
AN INVENTORY FOR
INSTANT AVAILABILTY OF
PRODUCTS FOR CONSUMER.
THIS
HELPS TO KEEP PRICES
STABLE.
ENABLING
MANUFACTURER TO
REGULATE
PRODUCTION.
HELPS CONSUMERS TO
KEEP PRODUCTS IN
SMALL QUANTITIES
PROVIDING
SERVICES
CREDIT
TO CONSUMERS
DISPLAY
OF PRODUCTS ,
CONSUMERS CAN SEE AND TEST
THEM
SALES
PEOPLE TO ANSWER
QUESTIONS AND ADDITIONAL
INFORMATION.
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