Management, Books and Learning

Characteristics, Functions and Services of a Retailer In the fast changing globalized and a technology-driven business world, Retail industry over last few decades has witnessed a sea change. World’s largest retail giant of the present times Walmart is operating worldwide by establishing hypermarkets in various countries by taking the help of sophisticated means of communication as well as information systems technology. A careful analysis of the trends reveals that in the Fortune 500 list of organizations, 50 are from retail industry and the top rank is occupied by the world’s No. 1 retail giant Walmart. The statistics convincingly reveal how fast the retail industry has grown and paved the path for expansion of business as well as employment opportunities. Characteristics of a Retailer In the entire distribution chain, a retailer is considered to be the final link, who deals directly with the customer. A retailer purchases in bulk from the wholesalers and sell...

Retail Mechanism - How does retail work ? Retailing is defined as the process of selling merchandise to the consumers for their end use in small quantities. The retailer sells products to the end-users either in single units or in small quantities as per their need and capability. Retailer .................................. Consumer (End -User) Retailing How does retail work ? Let us now understand the various ways a consumer can purchase goods from the retailer. Largely Retail purchase can be divided in two parts : 1. Counter service/ Sales (Serving customer at our location) OR 2. Delivery Service (Serving customers where they are) Counter service As the name suggests, counter service refers to the process of procuring the merchandise from the counter. The buyer does not have an easy access to the merchandise of the store and he can’t pick up things on his own. In such a mechanism the buyer has to walk up to the counter and ask for his requirements. Exampl...

Types of Retail Outlets (offline) Objective: For existing retailer: To know in which retail format you are in and adept strategies accordingly For aspired retail venture (New retail business seeker) : To be clear with retail store formats so that he/she will be clear for starting kind of venture they will love to operate  Retailing refers to a process where the retailer sells the goods directly to the end-user for his own consumption in small quantities. Types of Retail outlets Department Stores A department store is a set-up which offers wide range of products to the end-users under one roof. In a department store, the consumers can get almost all the products they aspire to shop at one place only. Department stores provide a wide range of options to the consumers and thus fulfill all their shopping needs. Merchandise: Electronic Appliances Apparels Jewellery Toiletries Cosmetics Footwear Sportswear Toys Books CDs, DVDs Examples ...