Retailing

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What is Retailing? Classification of Retailers New innovations

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Chapter 25:

Chapter 25 Retailing

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Prof. Sunitha Ratnakaram, Associate Professor, VVSB MBA, M. Phil, MFM, M. SC. (Psychology), UGC – JRF , (Ph. D)

In this chapter we will discuss::

In this chapter we will discuss: Retailing and its importance Evolution of retailing Classification of retailers Strategic issues in retailing Trends in retailing Future of retailing

Introduction :

Introduction What is retailing? Trends in India

Retailing and its importance:

Retailing and its importance Importance to consumers Inventory management Value added service Product variety Breaking bulk Disseminating information Importance to other channel members Source of employment

Evolution of Retailing:

Evolution of Retailing Wheel of retailing Industrial revolution Competition and Trade – up Regression and assimilation Regression is sticking traditional methods Assimilation tries to copy modern methods but with innovation Innovation Department stores – catalogue retailing – malls – specialty discount stores - Internet

The Wheel of Retailing:

The Wheel of Retailing Entry phase Growth phase Maturity phase Low status, Low price Low profit margin Low cost structure Limited product offering High costs, high prices Low return on investment Competition from new retail formats Large facilities Improved customer service Extended product offerings High operating costs

Classification of retailers:

Classification of retailers Classification based on type of ownership Store based retailers Non – store based retailing Non traditional retiling Service Vs. Goods Retail strategy mix

Classification based on type of ownership:

Classification based on type of ownership Independent retailers Chain stores (local, sectional &national) Franchise (Product distribution, business format, trade name) Leased department store Consumer cooperative

Store based retailers:

Store based retailers Food retailers 50% of their total sales come from food based products General merchandise retailers Deals with different categories of products

Food retailers:

Food retailers Convenience store Conventional super market Food-based super stores Combination stores (Hyper market) Limited-line stores Warehouse stores (discount food retailers)

General merchandise retailers:

General merchandise retailers Specialty stores Department stores Full-line discount stores Variety stores (large varieties, low prices) Off-price chains (EDLP) Membership clubs Thrift stores (second hand stores) Flea markets (weekly haats)

Non – store based retailing:

Non – store based retailing Direct marketing Catalogue retailing Direct mail Direct selling Person-to-person selling Party plans Multi-level marketing Automatic vending machines

Non traditional retiling:

Non traditional retiling The internet On-line shopping E-tailing Video kiosks Video catalogues

Service Vs. Goods Retail strategy mix:

Service Vs. Goods Retail strategy mix Classification is based on what one offers for sale Good retailing can be store based, non store based or non - traditional Services retailing can be Rented goods service retailers Owned goods retailing Non goods services

Strategic issues in retailing:

Strategic issues in retailing Store location Retail store image Store size Promotion Role and impact of private brands on power of retailers

Retail store image:

Retail store image Product assortment Service rendered at the store Store personnel Customers who patronize the store Store layout & ambience Convenience of location Age of the customer

Trends in retailing:

Trends in retailing Competition Consumers Technology Micro-marketing (targeted database marketing) Emergence of new retail formats Global operations Ethnic retailing Diversification

Future of retailing:

Future of retailing Global retailing Tailor made product portfolio Dominance of e – tailing Operational efficiency, back ward integration Brand sharing Retailing in India Shoppertainment Latest technology (RFID) Large format stores

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