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Retailing
The document outlines the evolution and current trends of retailing in India, emphasizing the importance of customer engagement and satisfaction. It discusses various retail formats, store operations, and the role of technology in enhancing customer experiences. Additionally, it highlights the significance of service quality and effective complaint management in maintaining customer loyalty.
Retailing
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- 2. 2 What’s Retailing AllAbout? • It’s about reaching out to consumers first hand!! – Through Formats that differentiate offerings to suit customer needs to fulfill them every time – Through formats that (one or a combination) provide true shopping value
- 3. 3 What’s Retailing AllAbout? • It’s about efficiently providing a vehicle for mediation with the customers. – With the right merchandise at the right place in the right quantities at the right price at the right time.
- 4. 4 Evolution of Retailingin India • Emergence of Channels of Distribution • Retailing & its Evolution – From Shanties (temporary sheds) to Professional Retailing – Agrarianism to Industrialization to Mature Markets to Global Competitiveness
- 5. 5 From Evolution toRevolution • It’s not just the evolution of retailing in India. • It’s a revolution. – To get the customer’s heart-share and not even the mind-share.
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- 7. 7 Formats of Physical StoreRetailing • Formats by Size • Departmental Stores / Super Markets • Bazaar or Discount Formats • Specialty Formats • Category Killer Formats Large Formats
- 8. 8 Formats of Physical StoreRetailing • Stop Over Formats • Kiosks & Dispensing Formats Small Formats
- 9. 9 Conglomerates • Malls • HyperMarkets • Plazas • Bulk Marts • Warehouse Formats
- 10. 10 Characteristics of Retail Formats •Store Image • Location • Service Type • Merchandising Mix • Presentation
- 11. 11 Key Attributes in CustomerSatisfaction • Merchandise Assortment / Selection • Merchandise Quality • Pricing • Locational Convenience • Customer Service
- 12. 12 The Retail Environment (Macro) •The Composition of Retail Environment • Factors Governing & Influencing Retail Environment – Political Factors (WTO) – Economic Factors (FDI) • Retailing & its Industry Status in India
- 13. 13 The Retail EnvironmentModel (Micro) Staff Space Stock Customer
- 14. 14 • Customer focusednot Real Estate focused • Facilities & Concessionaries • Differentiate to Niche Retailing • Concept Retailing Current Retail Trends
- 15. 15 • Store Image,Type and Density • Store Space Planning • Store Circulation Store Operations Store Planning
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- 17. 17 • Free Flow •Grid • Race Track • Herringbone • Spine The Circulation Plan – The “Silent Guide”
- 18. 18 • Store Location Strategy HighStreet Destination Mall Partners • Determinants of Store Location Accessibility Surroundings & catchment profile Availability Facilities Store Location
- 19. 19 Functions of StoreOperations Planning Organizing Co-ordinating Implementing Controlling Role of Store Operations
- 20. 20 • Licenses &Permissions • Legal Compliance • Routine Administration Administrative Process
- 21. 21 • Sales Planning •Personal Selling Cross Selling Upselling • Sales Reports Sales Process
- 22. 22 • Cashiering SystemSequence • Customer Check Out Strategy • Cashier’s Role Cashiering Process
- 23. 23 • Customer ServiceVision & Strategy • Customer Service Standards Determination • Benchmarking • MOT & Expectation Analysis Customer Service Process
- 24. 24 • Staffing &Scheduling • Grooming • Floor Meeting • Training • Performance Management • Personal Development HR & Welfare Process
- 25. 25 • House Keeping •Security • Maintenance Facilities & Concessions Management Process
- 26. 26 • Key Successful Parameters SpaceOriented Stock Oriented Staff Oriented Customer Oriented • Parameters Analysis, Conclusions, Decisions & Actions (What Should Be Those For In & Out?) Store Operating Parameters
- 27. 27 • Customer Segmentation •Range Structure • Merchandise Hierarchy & Merchandise Planning Buying & Merchandising Creating the Merchandising & Buying Vision
- 28. 28 • What isBuying & Merchandising • Significance of Buying & Merchandising • Sourcing & Vendor Management • Trends & Forecasting Techniques Principles of Buying & Merchandising
- 29. 29 • Category Vision •Category Definition • Category Scorecard • Category Review • Category Functions Category Management
- 30. 30 • Merchandise &Assortment Planning • Micro-merchandising • Line Presentation • Replenishment Planning Designing Merchandising Working Practices
- 31. 31 • OTB • MarkDown Planning • Planogram (Sample sheet integrating base stock, fixture mapping, etc.) Designing Merchandising Working Practices
- 32. 32 • Existing Measuresof Performance Store wise Performance (Stocks, Space, Sales) Partner Performance & Assessment Dealer Alliance Partner Determining Key Performance Indicators (KPIs)
- 33. 33 • Connect’s Ownership •Business Manager Business Estimates and Achievement • Operations Manager Category / Processes Ownership • Trainer RCC’s Role
- 34. 34 • Contribution ofTechnology to Retail Process Speed, Accuracy Data in required form for decision making Customer satisfaction through Technology The Role of Technology in Retailing
- 35. 35 • Business Needsto Drive Technology Requirements, not otherwise • Deploy Instore Technologies for Customer Convenience Customer – Technology Adopters • Deploy Technology for Speed, Accuracy & Total Customer Satisfaction Retail Technology Implementation Factors
- 36. 36 • Review TechnologyPerformance • Innovate & Deploy New Technologies to Stay Ahead of Competition • Technology Scalability Retail Technology Implementation Factors (contd..)
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- 38. 38 DISCIPLINE OF MARKETLEADERS • Product Leadership • Operational Excellence • Customer Intimacy Service Quality --- Why?
- 39. 39 • Intangibility • Inseparability •Heterogeneity • Perishability • Ownership Characteristics of Service
- 40. 40 • Services arethings a company does / offers its customers • Service is how well a company does / offers what it does / offers to its customers Service Vs. Services
- 41. 41 • Product • Price •Promotion • Place • People in Services • Physical Evidence in Services • Process in Services Services Marketing Mix Beyond The Four P’s
- 42. 42 The Service Triangle PeopleService Strategy Systems Customer
- 43. 43 • Putting people behindproducts and services • Treating customers with respect, individuality and personal attention What is Customer Service?
- 44. 44 • The Customeris the Business’s Biggest Asset • The Customer pays all salaries, wages and dividends • The Customer will go where s/he receives the best attention • You must be your customer’s best choice ! ! Obsession With Customer
- 45. 45 • Not necessarilythose who pay but all those whom we serve Who Is Our Customer? • Paying Customer • Colleagues • Wife • Parents • Neighbors • Boss • Subordinates • Children • Relatives • Environment • Fellow Human Beings
- 46. 46 The Spirit ofService Is an attitude based on certain values & beliefs about people, life and work, that leads a person to willingly serve others and take pride in his or her work.
- 47. 47 • People’s Skills •Product • Presentation • Process 4 P’s Which Shape Customer’s Decision to Buy
- 48. 48 • Dependability (Didthe service provider do what was promised?) • Responsiveness (Was the service provided in a timely manner?) • Authority (Did the service provider elicit a feeling of confidence in the customer during the service delivery process?) Five Universal Dimensions of Service Process Quality
- 49. 49 • Empathy (Wasthe service provider able to take the customer’s point of view?) • Tangible Evidence (Was evidence left that the service was indeed performed?) Five Universal Dimensions of Service Process Quality
- 50. 50 • Friendliness • Understanding •Fairness • Control • Options & Alternatives • Information Six Basic Customer Needs
- 51. 51 Bad Service v/sGood Service My Expectations My Treatment My Treatment Is less thanWhen When exceeds My Expectations This = Good Service This = Bad Service GOOD SERVICE IS GIVING CUSTOMERS A LITTLE MORE THAN WHAT THEY EXPECT
- 52. 52 • The bestservice companies have a passion for service excellence!! • Providers of service excellence do it with energy and enthusiasm • Excellent service is a win-win experience!! • In today’s competitive market place the customer decides who wins and who loses Excellent Service = Enjoying Giving People Little More Than They Expect Excellent Service
- 53. 53 Define the Customer’s“Moments of Truth” Moments of Magic Moments of Misery Moments of Truth
- 54. 54 The Customer isRespected And Understood And treated Genuinely The foundations are laid for Quality Service When what is communicated at Moments of Truth is that: Moments of Truth & Service Quality
- 55. 55 Perceived Value = ServicesX Service ----------------------- Price Expectations & Perceived Value
- 56. 56 IMPORTANCE OF COMPLAINTS Givesus another chance of improve our service Doing the job right the first time Effective Complaint Handling + = Increased Customer Satisfaction & Brand Loyalty Handling Customer Complaints
- 57. 57 Do not returnanger for anger Avoid fuelling the anger Keep control of the situation Be quiet and listen Do not make excuses Managing Yourself
- 58. 58 Recognize the customer’sfeelings Probe Solve problem Soothe problem Apologise whenever required Managing Yourself
- 59. 59 • Attention • Interest •Desire • Conviction • Action Stage of Selling
- 60. 60 • Pre-approach • Approach •Identifying wants & needs • Presenting the Product or Service Steps of Sale
- 61. 61 • Answering questionsand objections • Suggestion Selling • Closing the Sale • Post Sale Services Steps of Sale
- 62. 62 • Zone ofRecommendation • Zone of Normality • Zone of Tolerance • Zone of Rejection Four Zones of Customer Influence
- 63. 63 • When youare serving a customer, you are on stage, so….. • Are your dressed for the part? • Do you know your lines? • Do you understand the play? You Are On Stage