The document outlines the importance of a retail strategy, which serves as a roadmap for retailers over a 3 to 5 year period, guiding resource allocation and decision-making. It identifies target markets, merchandise offerings, and competitive advantages necessary for sustained profitability. The strategic planning process includes situation analysis, establishing objectives, customer identification, and ongoing evaluation and adjustments.

1. RETAIL STRATEGY
By - Vijyata

2. Retail Strategy
A retail strategy is the overall plan or framework of action that
guides a retailer. A retail strategy serves as a roadmap for the
next 3 to 5 years and helps thoughtful and objective decision
making on many key business elements, including:
– What the retailer will need to do to get started and what resources (time,
money, etc.) he will need to expend?
– What it will take for his business to make a profit and how long that will
take?
– What information potential customers, vendors, and investors will need to
know in order for the retailer to effectively market your business ?

3. The retail strategy identifies -
• The target market, or markets, toward which the retailer
will direct its efforts;
• The nature of the merchandise and services the retailer
will offer to satisfy the needs of the target market; and
• How the retailer will develop unique assets that enable it
to achieve long term advantage over its competitors.

4. Features of strategic retail planning
• It provides a thorough analysis of the requirements for doing
business for different types of retailers.
• It outlines retailer goals.
• A firm determines how to differentiate itself from competitors
and develop an offering that appeals to a group of customers.
• The legal, economic, and competitive environment is studied.
• A firm’s total efforts are coordinated.
• Crises are anticipated and often minimized or avoided

5. RETAIL strategy steps
1.
Situation
Analysis
• Organizational
mission
• Ownership and
management
alternatives
• Goods/service
category
2.
Objectves
• Sales
• profit
• image
• satisfaction of
public
3.
Identifica
tion of
customer
• Mass
marketing
• Concentrated
Marketing
• Differntiated
marketing
4. Overall
strategy
• Controllables
Variables
• Uncontrollable
Variables
5. Specific
activities
• Daily short
term
operations
• Response to
environment
6. Control
• Evaluation
• Adjustment

6. THANK YOU !!!
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