Trends in retail industry
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Trends in retail industry
- 4. WHAT IS RETAILING? Retailing includes all the activities in selling products or services directly to final consumers for their personal, non-business use Retailers are businesses whose sales come primarily from retailing
- 5. RETAILING DEFINITION According to Kotler: “Retailing includes all the activities involved in selling goods or services to the final consumers for personal, non business use” It is responsible for matching individual demands of the consumer with supplies of all the manufacturers.
- 6. RETAIL MANAGEMENT The various processes which help the customers to procure the desired merchandise from the retail stores for their end use refer to retail management. Retail management includes all the steps required to bring the customers into the store and fulfill their buying needs.
- 7. RETAIL FUNCTIONS IN DISTRIBUTION Manufacture r Wholesale r Retail er Final consum er A Typical Channel of Distribution Manufacturer Brand A Brand A customers Wholesaler Manufacturer Brand B Retailer Manufacturer Brand C Brand C customers Wholesaler Manufacturer Brand D Brand B customers Retailers role in sorting process Brand D customers
- 8. RETAIL FUNCTIONS Retailer giving maximum local convenience to customer. Storage facility. Variety of stocks & brands. Attracts the consumers. Provide after sale service.
- 9. RETAIL FUNCTIONS Last outlet for distribution. Retailers are absolutely essential in meeting daily needs. Personal services & wide selection of goods. Retailers offered durable & costly goods. Provide feedback.
- 10. OTHER FUNCTIONS Retailers often act as the contact between manufacturers, wholesalers, & customers. Retailers communicate with customers, wholesalers & manufacturers.. Retailers also complete transactions with customers i.e., having convenient locations, filling order promptly & accurately, & processing credit purchase. Some retailers also provide customer services such as gifts wrapping, delivery, & installation.
- 11. TYPES OF RETAILERS Specialty stores Department stores Convenience stores Superstores Supercenters Factory outlets Off-price retailers Discount stores Warehouse clubs
- 12. TYPES OF RETAILERS Specialty stores carry narrow product lines with deep assortments within the product lines Department stores carry a wide variety of product lines Convenience stores carry a limited line of high-turnover convenience goods Superstores offer a large assortment of routinely purchased food products, no food items, and services Supercenters have very large combination food and discount stores
- 13. TYPES OF RETAILERS Discount stores sell standard merchandise at lower prices by accepting lower margins and selling higher volume Off-price retailers buy at less than regular wholesale prices and charge customers less than retail • Independent off-price retailers either are owned and run by entrepreneurs or are divisions of larger retail corporations Factory outlets are producer-operated stores Warehouse clubs are large warehouse-like facilities with few frills and offer ultra-low prices
- 14. RECENT TRENDS IN RETAIL MARKETING E-Retailing
- 15. E-RETAILING e-tailers Retailers who sell over the Internet
- 16. BENEFITS OF E-RETAIL TO A BUYER Wider product availability & wider buying options Ability to shop 24/7 and easy comparison shopping Quick delivery of digital products Save time.
- 17. What to sell online Computer software Consumer electronics Office supplies Sporting goods Books and music Toys Health and beauty Apparel and clothing Jewelry Cars Services Others
- 18. SUCCESSFUL E-RETAILERS ACROSS THE WORLD Amazon – www.amazon.com – Books Dell – www.dell.com - Computer hardware Marks and Spencer – www.marksandspencer.com – Clothing, gifts
- 19. Globalization . Some factors stimulating globalization of retailing are the maturation of the domestic market, the development of skills and systems to effectively manage global operations, and the removal of trade barriers
- 21. TOP 5 RETAIL STORES IN THE WORLD Rank 1 2 3 4 5 Company Headquarters Wal-Mart Kroger Target Walgreen Costco Bentonville, Ark. Cincinnati Minneapolis Deerfield, Ill. Issaquah, Wash.
- 22. TOP 5 INDIAN RETAIL STORS 1. Pantaloon group: 2. K Raheja Group 3. Tata group: 4. Reliance 5. Birla Group
- 23. CONCLUSION…………..
- 25. Guide Prof DEEPU PREPARED BY “CREATIVITY TEAM” NAVEEN JAIN LAVANYA MANJULA MANJUNATH 9482288882