Retailing 1224232380049014 9
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This document provides an overview of retailing objectives, functions, types of retailers, franchising, and strategic issues. It discusses the importance of retailing and various career paths. It also defines different types of retailers like department stores, supermarkets, discount stores, and specialty stores. Additional topics covered include in-store retailing, non-store retailing, strategic issues around location, merchandise, advertising, and consumer behavior.
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The document provides an overview of the global and Indian retail industry. It discusses key segments in Indian retail like fashion, food and grocery, and formats like supermarkets, department stores, and specialty stores. Organized retail is growing rapidly in India and will reach 10% of the total retail market by 2010. The case study focuses on global retail giant Walmart, discussing its founding, business model centered around "everyday low prices", global presence and strategies. It indicates Walmart sees potential to grow in India through a joint venture with Bharti Enterprises to explore retail opportunities while respecting local markets.
Retailing in India
This document provides an overview and introduction to the world of retailing. It defines key terms like retailing and retailer. It discusses the differences between retail and wholesale operations. It also outlines the value retailers provide to both consumers and manufacturers. Retailers add value by breaking bulk, holding inventory, providing assortment and offering services. The document notes that retailing is a dynamic, high-tech industry with many career opportunities beyond just store-level jobs. It also emphasizes that retailers play an important role in the distribution channel.
Retailing
Retailing involves the sale of goods and services to consumers for personal use. The top ten largest retailers in the United States are led by Walmart, with supermarket and department stores making up many of the other spots. Retail in India is a large and growing industry, with various formats like malls, specialty stores, discount stores, and department stores emerging. New retail chains in India first emerged in the 1990s, shifting from manufacturers to pure retailers, and growth has continued with the emergence of shopping centers and hypermarkets.
Walmart – Competing In The Global Market
Wal-Mart is the world's largest retailer, operating over 6,700 stores globally. It began as a single discount store in Rogers, Arkansas in 1962. Key facts about Wal-Mart include its annual sales of $348.6 billion in 2006, over 1.9 million employees worldwide, and Sam Walton's family owning 40% of the company. Wal-Mart has expanded internationally in recent decades, now operating stores in 14 other countries through subsidiaries and acquisitions. However, entering some foreign markets like Germany and South Korea proved unsuccessful due to difficulties adapting to local labor laws and competition.
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Retailing 1224232380049014 9
- 1. Retailing
- 5. A Retailing Career Retail Career Salary Career Progression Geographic mobility Women in retailing Societal Perspective
- 6. Prerequisites for Success Success Hard Work Analytical Skills Creativity Decisiveness Flexibility Initiative Leadership Organization Risk Taking Stress Tolerance Perseverance Enthusiasm
- 10. Hyper-markets: A Sure - Fire Hit, Bombs . Average size (in square feet ) Employees Annual sales per store (in millions) Gross profit margins Stock-keeping units (Number of different kinds of items stocked) 70,000 200 - 300 $10 - $20 18% - 19% 60,000 - 80,000 150,000 300 - 350 $20 - $50 15% - 16% 100,000 230,000 400 - 600 $75 - $100 7% - 8% 60,000 - 70,000 Discount Store Super Center Hypermarket
- 13. Category Killers Just For Feet, the category killer in the athletic footware and apparel sector founded in 1977, cruised through the 1990s. However, Just For Feet has suffered financial setbacks from a lack of adapting to changes in the evolving retail landscape.
- 14. The Wheel of Retailing High : status, margin, price (Specialty store) - retailers usually enter the market with low service, low margin & price operations but evolve into higher service, cost & price merchants. Conventional department stores Mass merchandise retailers Low : status, margin price, service (Wholesale clubs) Maybry’s at the Mall
- 15. Wheel of Retailing High Prices & Markups, Many services, Expensive Surroundings, Low prices & Low markups, few services, (austere) surroundings Small general stores Department stores 1890 - 1910 Entry of Discount stores Department Stores 1955 - 1970 Factory outlets “ Members Only” discount outlets Category killers Low price s & markups, few services , austere 1990s Enter Department stores
- 21. On line Retailing (E-Tailing): Advantages Not location bound Interactive Convenient Shopbots Forms of Direct Marketing E-tailing was about 20 billion dollars in 2000 and estimated to rise to over 100 billion by 2005.
- 22. Percentage of Sales Online by Retail Segment Source: Investor’s Business Daily, Wednesday, September 5, 2001, p. A6.
- 23. Internet Retailing: Disadvantages Forms of Direct Marketing Examination Privacy/Security
- 25. Strategic Retailing Issues: The Marketing Mix #1 Customers Product Price Place Promotion Merchandise Assortment Store Atmospherics Customer Service Location, Location, Location! Retail List Price Discounts Credit Advertising Personal Selling Publicity Sales Promotion
- 32. Strategic Issue #2 Merchandise Assortment Plus: Store Location Store Promotions Store Layout/Image Store Personnel Store Services Store Hours Targeted Customers
- 33. Many consumers value finding bargains.
- 48. RESEARCH Knowing Your Customer Level of Customer Service ? High - - - Low Sales Personnel ? Hurried - - - Apathetic Product Selection ? Broad - - - Narrow Store Image ? Conservative - - - Modern? Consumer Profile ? Sex Age Education Income Retail Store Characteristics
- 49. Dual Wage Earners and Their Effect on Hours Spent Shopping 1965 1980 1995 Year 200% 100% 12 8 4 0 Families with Dual Incomes (1965 - 100%) Shopping Hours per Month Dual incomes rose ... … and shopping hours dropped SOURCE: Vision for the New Millennium . . .(Atlanta: Kurt Salmon Associates, 1997). Used with permission
- 56. Retail Information System (RIS) and Merchandise Management Issues Company Goals Human Resources Information Accounting and Financial Information Operating Information Promotion Information Merchandise Information System Technology updates: Computer Body Scanner Internet Strategy Database Marketing RFID
Editor's Notes
- 16-2 Copyright © 2000 by Houghton Mifflin Company. All rights reserved.
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- 16-9 Copyright © 2000 by Houghton Mifflin Company. All rights reserved.
- 16-11 Copyright © 2000 by Houghton Mifflin Company. All rights reserved.
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- 16-21 Copyright © 2000 by Houghton Mifflin Company. All rights reserved.
- 16-22 Copyright © 2000 by Houghton Mifflin Company. All rights reserved.