Retail marketing

K. VIDHYA, M.Com., B.Ed., M.Phil.,
Assistant professor,
Department of commerce,
S.B.K. College,
Aruppukottai.
RETAIL MAREKETING
Effective retail marketing is vitally important for today’s manufacturers. Without a
presence in retail stores, businesses rarely achieve the high level of exposure or widespread
product distribution that retail stores offer. Retailers can help small businesses by performing
a wide range of marketing services, from promoting products directly to customers to giving
customers a chance to view and test products.
Importance of Retail Marketing
Retailing has mirrored the increasing prominence of the retail industry. Retailing
provides necessary service and a positive contribution to the economy. The importance of
retailing is given below:
1.Retailing shapes the lifestyle of people
2.Retailing contributes to the economy
3.Retailing dominates the supply chain
4.Retailing is interdisciplinary
5.Retailing offers itself as an academic course.
6.Retailers have status as employers.
7.Retailers are gatekeepers within the channel of distribution.
8.Retailers have scope for expanding internationally.
1.Retailing shapes the lifestyle of people
Retailing shapes the lifestyle of the people: Retailing is an integral part of the modern
society. It shapes the way of life. In the past, trading of goods was a part of a traditional
society. But in recent times, buying and selling of goods have become a brand dominated
activity.
2.Retailing contributes to the economy
Retailing contributes to the economy: The importance of retail sector is reflected in
its contribution to the growth of an economy. Its contribution is much more visible in the
modern era than it was in the past. As the retail sector is linked to the significant portion of
the economy, its contribution to GDP is substantial. Retailing is the driving force of the
economy. It aims at promoting its sustained growth.
3.Retailing dominates the supply chain
Retailing dominates the supply chain: Goods and service flow from manufacturers or
service providers to consumers. Where consumers are large in number and are widely
distributed, the role of retailers becomes crucial. Retailers serve as a connecting link between

the wholesalers and consumers. Due to its dominant position in the supply chain, the retail
structure has steadily developed over the years.
Now-a-days, retailing is characterized by large multiple chains rather than small scale
independent retailers. The formalization and growing importance of retailing has made it
powerful in the distribution channel. Now, retailers are compared with manufacturers which
indicates the growing dominance of retailers within the supply chain.
Besides, the annual turnovers achieved by the retailers can be compared with the
largest companies in other service industries.
4.Retailing is interdisciplinary
Retailing is interdisciplinary: The pace of growth within retailing is accelerating.
Retailing has emerged from a number of interrelated disciplines such as geography,
economics, management and marketing.
5.Retailing offers itself as an academic course.
Retailing is acknowledged as a subject area in its own right: Potter has described the
academic study of retailing as the “Cinderella of the social sciences“. Retailing is an accepted
area of academic debate, such as marketing and management, developed fully as an area of
study. University research centres focus on retailing and professional appointments in
retailing have been made. Academic journals focusing on retailing are being published
worldwide.
6.Retailers have status as employers.
In today’s society, retailers are the major employers. It is estimated in developed
countries that retail industry employs one in nine of the workforce. Retailers employ a
significant proportion of the overall workforce.
More than two thirds of the retail force are women. Also, more than half of retailing
employees are employed on a part-time basis. This, highly flexible workforce is capable of
adapting to the differing labor demands In the past, retailing employees got lower pay and
had longer working hours. But now, the retail sector is becoming more organized with better
pay scale.
7.Retailers are gatekeepers within the channel of distribution.
Retailers are gatekeepers within the channel of distribution: Retailers are becoming
increasingly important in their role as gatekeepers within the channel of distribution. In the
past, suppliers were dominant. Retailers supplied the merchandise that was on offer and
consumers selected from them. As retailers have become significantly powerful, they are able
to influence suppliers and stock only the brands they wish to sell. So, consumers are able to
buy only what is stocked and offered to them by the retailers. Retailers are thus considered as
shaping consumer demand.
8.Retailers have scope for expanding internationally.
Retailing has scope for expanding internationally: Retailing offers scope for shifting
retail operations outside the home market. Retailers who focus on luxury goods markets are
expanding their business internationally. Retailers are moving into more geographically and
culturally distant markets
Retail marketing primarily undertakes following activities:

1. Identify the customer and understand his needs
2. Store the needed merchandise or goods.
3. Attractive presentation of goods for easy identification and convenience.
4. Provide necessary comfort in purchase i.e., location, price, service etc.,
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Characteristics or Features of Retail Marketing:
Retail marketing or organised business of retailing has following feature or characteristics:
1. Sale to Ultimate Customer:
Goods or service in a retail transaction are sold to final customer for consumption.
There is no further re-sale of the product or service. Goods and service sold for consumption,
may be for domestic or household use or industrial use are classified as retail transaction.
Even sale of spare parts, equipment, machineries etc., to industrial house or business
is organised are classified under retail transaction. Once the goods are sold, there should not
be further sale of the product or service. It is consumed by the customer or the person for
whose benefit he has purchased.
2. Convenient Form (Quantity):
The word retail means cut size ‘small piece’ or break the bulk. Retailers buy in large
quantity from middleman or manufactures, he breaks the bulk and sells in small quantities to
match the need of customers. Goods may be repacked or delivered in small packs in
convenient form which an individual can carry to his home.
3. Convenient Place and Location:
Retailers deliver goods from a location that is convenient to the customers. In case of
physical location. It may be a small store, a shop and multiplex. It may also be over the
internet, through mobile or mail order business. Goods/or service are offered to the
convenience and comfort of the consumer.
Online shopping through internet, mobile is becoming popular with the growth of I-T and
courier service. (Ex- the advertisement of pizza, on the TV is shown delivering within half
hour of its order)
4. Last Link in Chain of Distribution:
A retailer is the last link in the chain of distribution. He sells goods to final customer.
He connects between middlemen and consumer acting as link between them. He is described
as merchandising arm or neck, in the bottle of distribution. He acts as communicator between
manufacturer and consumer. Benefits both of them by sharing necessary information that
gives profit to manufacturer by manufacturing goods that are liked by the people.
5. Organised Sale:
Retail marketing is organised business of selling to the customer by application of
principles and functions of marketing. Un-organised retail like street vendor a Paanwala may
not be typically classified under retail marketing.
6. Marketing not Just Sale:
Organised retailing or retailing is not an activity of just a sale. It is a marketing
activity. Consumer is offered comfort and convenience and concession in buying goods of his
choice. Marketing functions like transportation banking insurance, ware housing are

undertaken to create and deliver goods to satisfaction of people. Goods are designed and
delivered to match the taste of people and satisfy their desire and thereby ensuring customer
delight. Every marketing effort is undertaken in the sale or delivery of goods.
7. Goods and also Service:
Retail marketing is not only connected with delivery of physical goods or
merchandise like Grocery Vegetable, Electronic goods etc., it is also engaged in providing
services. Now a days marketing of services is becoming an important areas like Insurance,
Tourism, Hotel, Investment etc. With Globalisation process, entry of MNC’s, development in
the field of I-T sector has made marketing of services more popular and developing.
8. Creation of Utility:
Retail marketing creates Form, Place and Time, utility. It breaks the large bulk size
into small size and changes the form of product. Place utility is created by bringing goods
from place of manufacturer to the place of consumer. Goods are stored in advance and
delivered when demanded by the customer. A retailer creates these utilities and their by
increases value and utility of goods.
9. Customer Delight:
Retail marketing not only satisfies customers wants, it ensures their delight. It
provides more satisfaction than what is expected through its retail network. Retail marketing
collects information regarding type of product decide by them, Communicates such
information to manufacturer. Product is designed to match the changing taste of customer.
Retailer stores and presents such product to the people in size, style, price and other services
through his store that increases satisfaction levels of peple.
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Importance of Retail Marketing:
Products are created for consumption and satisfaction of the people. They should the
reach people for whom they are meant for. It is the retailer who assumes the role of taking the
goods to the people and delivers them to their convenience and comfort, Importance retailer
is due to following role he assumes in the sale of goods.
1. Link and Communication between Manufacturer Marketing and Consumer:
A retailer functions between the final customer and manufacturer. He not only helps
in selling and buying activity, but collects important information about the people, i.e., likes
and dislikes of the product and important information regarding market. This will help
manufacturer to design and deliver a product to the expectation of people. This will increase
sale and profits and ensure higher levels of satisfaction to the consumer.
2. Benefits of a Specialist or Expert in Distribution Network:
Retailer is an expert and experienced person in distribution network. He understands the
pulse of people, there likes and dislikes due to his proximity and contact with the people. He
stores those products and services that people want and delivers them in size and style which
the people expect Dye to his expertise and knowledge about the product and market he helps
the customers to make right choice in their purchase.
3. Creates Utility and Value:

Retailer creates time, place and from utility in the distribution of goods and increases
value of goods. Goods that are manufactured in bulk and large quantity are purchased in large
scale by retailer and he breaks the bulk, delivers them in small packs and quantity that is
required by the consumer. In this process he creates form utility. Goods are manufactured in
one corner of country and they care consumed in different parts of the word.
Retailer buys goods from different producers and makes them available locally to his
customer and there by creates place utility. There is time gap in production and consumption.
A retailer buys in advance from middlemen, stores them and sells through his shelf, whenever
it is demanded. Creating these three utilities he increases value of goods and helps. The role
of retailer ensures regular and continues production and consumption.
4. Comfort and Facility of Shopping:
Modern retail houses like Shopping Malls, Chain Stores and Multiplexes make
shopping a pleasant experience. The environment and ambience in these Super Bazaars
provide variety of facilities like kids play, entertainment, parking, lifts, trolleys to collect the
goods, coffee shop etc. Retailing through internet, mobile, mail order will ensure delivery of
goods to the doors of customer.
5. Service to Manufactures and Middlemen:
A retailer provides verities of services to manufacturers and middlemen by sharing
customers information i.e. their likes and dislikes about the product.
6. Provision of Storage and Warehousing:
Buying in advances and storing goods in his premise minimizes problem of
warehousing to manufacturer Retailer undertakes buying in advance and selling out that
product. Further display and promotion of the product will increase demand and sale of
product.
7. Service to Customer:
Retailer provides variety of services to customers:
i. Locates retail stores at a place that is convenient to maximum people, near to his locality or
in the heart of city.
ii. Offer’s variety of goods to choose from.
iii. Makes attractive presentation and placement of product for easy identification and
selection.
iv. Offers monetary incentives like reasonable price, discount, offers etc.
v. Provides services like home delivery, quality assurance, offer of sale service etc.
vi. Gives knowledge and information about the product to utility and there by helps him
selecting right kind of product.
8. Increase in Productivity:
Retailer ensures productivity and efficiency in distribution of goods. He shares market
information with manufactures and ensures production of those goods that have demand. His
policies of promotion and placement create demand for product and ensure fast turnover
through quick sale.

Proper logistics like transportation, warehousing will reduce damage and loss of value to the
commodity. These initiatives will minimise wastage, cut down cost of operation and there by
ensure efficiency and productivity.
9. Increase in Standard of Living:
Standard of living is measured by consumption of comforts and luxury goods.
Retailer ensures a higher standard of living by making available variety of goods and service
to the people at reasonable price. Facility, of credit and shopping within reach of common
man will increase standard of living.
10. Increase in Employment Opportunities:
It is estimated that retail industry in India provides around 10% of employment. Over
populous country like India which has a high percentage of Un-employment is benefited by
growing number and size of retail business. Apart from this retail provides and creates job
opportunities for women, as women can take better care of customer.
With growing number of educated women who aspire to be economically independent, retail
provides a better job opportunity. Retail also can provide part time job opportunities for those
who want to work in shifts and also pursue their study or take care of some other home
assignment.
11. Increase in GDP:
Organised and developed retail system creates better demand for goods and services.
It provides convenient outlet for sales. Increased sales necessitate more production that in
turn increases employment of more resources in economic activities. These factors result in a
higher GDP growth that is essential for economic development of a nation.
12. Retail as a Separate Branch of Study:
Growing demand for organised retail and revolutionary changes in the retail trade has
resulted in retail management and market as a separate branch of study. Universities are
offering courses in retail business. These further creating new opportunities in retail
education and development.
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Functions of Retail Marketing:
Retailer undertake following functions:
1. Assembly and Sorting of Merchandise:
Retailer has to meet every need of merchandise(Goods) of common man. He has to
keep wide variety of goods and service that may be demanded by the customer. Retailer
collects and assembles the goods from different manufacturers or middleman. He undertakes
sorting or classifying of the goods to meet the specific need of each customer.
Following figure may illustrate the activity of sorting:
Retailer has wide variety of customers who have different requirements. Retailer collects and
assembles these merchandise from different sources, assorts them and keep in his shelf ready
for easy identification for himself and customers. He displays product to visiting customers
and ensure sales.
2. Breaking the Bulk:

Retailer buys in large quantity “RETAILS’ or cuts into small bulk or pack to match the need
of each individual customer. The large bundle or bag or bulk is broken into small units of
packs that is convenient for a retailer to buy and carry.
3. Holding Stocks:
Merchandise of adequate quantity is always kept in stores so that it is delivered
whenever demanded. By holding ready stock, He creates Time Utility, and increases value of
goods. This is an important service that a retailer is offering both to manufacturer and also to
customer.
Manufacturers are relieved of creating storage and warehouse facility for the goods he has
manufactured, as manufactured product is taken by the retailer. This will minimise the cost of
warehousing, damage that may occur in storage period. Similarly every customer is benefited
as any commodity he desires is readily available with retailer, Customer need not bother of
buying the product in bulk and keeping the stock in his home.
4. Collect Market Information:
Customers come into direct and personal contact with the retailer. They share their
opinion and ideas regarding the utility and value of goods and what they further expect from
the goods. The retailer will share this information with the manufactures so that manufacturer
can design, price and deliver the product to match the expectation of people, Common man
may not be having the idea of variety of goods available.
Retailer knows the likes and dislikes of each individual customer; he can guide the consumer
to buy the product that matches his taste and budget. Retailer’s knowledge about the market,
i.e., types of product available, expectations of people about the product will help retailer sell
those product that matches taste of customer. It helps a manufacturer to produce the product
that the customer likes.
5. Marketing Functions:
Retailer will perform marketing functions like transportation, warehousing, promotion
and in some cases also grading, packing and labeling etc. In absence of retailer these
activities have to be carried out by manufacture themselves. Retailer undertakes the task of
transporting goods that are manufactured, keeps them in his warehouse until they are
demanded.
During this period he may also undertake grading, packing and labeling if they are not
already done. He undertakes sales promotion campaign through various forms of Publicity
and advertising to create demand for products and sells them.
6. Promotion of Product:
Promotion is an important activity in selling the product. Retailer undertakes
promotion of products by giving publicity and advertisement in the local media. Placement,
showcasing and window dressing of the product in his shop and showroom will make the
product visible to people and it may attract them to buy it.
Since retailer has personal contact with his customers he can influence their buying behavior
by suggesting the product that matches their taste. Retailer will help for demand creation for

the product by offering services like free home delivery, after sale service. Discount and other
offers which are important sales promotion strategies.
7. Offers Variety of Services to his Customers:
Regular retailer offers variety of services along with the sale. These may include free
home delivery, after sale service, credit Retailer is a man of confidence to a regular customer.
Long and regular association-ship between retailer and his customer will make them to share
their personal and family related issues. Retailer may act as Friend Philosopher and Guide of
his trusted customer in his routine life.
8. Risk Bearing:
A retailer by holding large stock of variety of products assumes the following kinds of
risks:
i. Selling risk of all the variety that he has stocked.
ii. At some point of time some quantity will remain unsold. He has to design strategy like
discount sales, offer etc. to undertake stock clearance, or else he has to suffer the loss.
iii. Damage to goods- when the goods are in his warehouse goods may get damaged due to
accidents, fire, earth quake, burglary or goods may lose value due evaporation or any other
cause. Every paisa of damage cannot be insured. Retailer undertakes the risk of sharing the
burden of such loss.
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Emergence of Organisation of Retailing:
Retailing as a separate branch of industry is growing worldwide and also in India. Retail
started as early as when barter began i.e., exchange of goods for goods. Surplus goods with
one another were exchanged for others goods. Invention of coins and currencies as medium
of exchange expanded the horizon of retailing, Various forms coins (Gold, Silver, Copper)
were used for exchange of goods that promoted trade of retailing not only domestic, but also
international.
Visits of travelers like ‘Huentsang’ to the Vijayanagar Kingdom’ explain the trading
activities during those period. Subsequently navigation and geographical tours, discovery of
new places by Columbus Magellan, Vasco da Gama took the trade to International level
which can be said as first stage of Globalisation.
Peddlar street vendors were the first Retailers. Retailing started assuming organised format
through ‘Bazars (weekly market) and Jatras’ where temporary shops were erected to seller to
the people who congregate or assemble during that
Industrial revolution in the 17 and 18 century that invented varieties of machineries changed
the system of production. Promotion of factory system resulted in mass production.
Production on large scale needed distribution on large scale where in the existing system
traditional retailing was not enough. The concept of middleman emerged.
Growing number of middle income family who wanted variety of goods and services to
spend their increasing income levels demanded change in distribution system The first
departmental store by name ‘Bon – Marche’ was established in Paris in 1952. This is
followed by further stores in the US and Europe.

These departmental stores were catering to the needs of people living in big cities like New
York, London, Paris etc. People living in remote areas and villages aspired to consume
modern goods. This led to development of mail order retailing. The first mail order business
house was established as Montgomery ward in 1870. This further led to development of
Chain stores and mail order relating in Europe and America.
People felt that Departmental stores, Mail order houses are charging high price and are not
satisfying their demands. This led to formation of Co-operative societies by consumer that
can deliver goods required by consumer at reasonable price in 1900’s.
Retailing at economical prices was further popularized by the concept of self – service stores.
The first self-service store by name ‘PIGGLY – WIGGLY’ was started in 1916, in Memphis,
Tennessee of the US.
The concept of super market to cater to the needs of Blue – Collar and Elite of people was
started in 1938. Discoveries in the field of refrigeration and retail transport system led to
promotion of Hyper – Markets that delivered wide variety of goods at reasonable price.
‘Carre Four’ of France is identified as first hyper-market that was established in 1963 in
Paris. Growing wealth of people, increasing education levels culture resulted in formation of
large Departmental stores, Super-market and Hypermarket worldwide.
The growth in Information Technology further led to web based training. Amazon.com was
promoted in 1995 that is pioneer in e-commerce with further revolution in I-T trading through
Internet, mobile or e-shopping is gaining popularity.
With globalisation emergence of MNC’s, easy convertibility of currencies of different
countries and use of Bit coins for trading, retailing is experiencing revolutionary changes that
are trying to meet increasing needs of people. It is creating employment opportunity and
contributing to globalisation of retail trade.
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Development of Retail Marketing in India:
India is the second largest consumer market in world. If offers enough opportunities for the
growth of retail business. Present size of business is estimated at $450bn with approximate of
5% being in organised retail. Retail in India is overcrowded by small shops which account for
around 14mn, which have a per capita flour size of around 260 sq.ft.
Labour productivity is only 6% compared American productivity; business of retailing is
controlled by family that has limitation of capital, technology and managerial abilities which
are hindering the progress of Indian retail industry. In fact it is not run like a business; it is a
kind of family and pass time activity.
There is brighter side to India organised retail. It is expected to touch around $800 bn by
2020. Right now organised retail is growing at 35% pa. Global retail development Index has
identified India as top 5th among 30 emerging economies Empirical studies have revealed
that, whenever per capita Income of a nation exceeds $1200, organised retail starts growing.

This is experienced in case of China, South Korea, Japan etc., But in India, with present per
capita Income of $400 is indicating the signs of progress in organised retail. Retail boom is
already being experienced in big cities, where 82% of organised retail business is coming
from six big cities like Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Kolkata and 12%
coming from next four cities. These cities have seen big Shopping Malls, Super Bazars
Multiplex etc. There is need of penetration or entry of this organised retail business into ‘C’
class cities and rural area.
Opportunities and Challenges for Retail Business in India:
Organised retail is poised to take off or prosper in India. Development of organised retail has
following challenges and opportunities.
Opportunities for Retail Development:
Retail rating agency called Fitch has predicted stable growth for retail in India. Areas like
Apparels, electronics, fashion and Lifestyle, E-commerce along with food and grocery are
constantly expected to expand their organised market shares. ‘E-tailing’ i.e., retail through
internet is expected to become popular in India. We are already experiencing web based
shopping experience through e-agencies like ‘Quickr(dot)com, Myntra(dot)com’, etc.,
Opportunity for development is due to following factors:
1. Large Size of Population:
In population terms, India is second largest country in the world with population
reaching 130 mn. Within that the size of young population with less 25 years age group is
estimated at more than 50% so market will have large number of customers, who have wide
range of demands that creates opportunity for growth in organised retail.
2. Diverse Demography and Culture:
India has rich and diversified culture with variety in consumption habits. People
belonging to different states like Punjab, Marathi, Tamil, Bengali, have different life styles
and consumption habits. Apart from this they celebrate festivals round the year and occasions
like Marriage, Birth, Death, each occasion demands expenditure on consumption on Food,
Clothing, Jewellery etc. This gives a better opportunity for the growth of retail in India.
3. Rural India and Agriculture:
They constitute more than 60% of India’s size and population Indian farmer is
exploited by middleman as he gets only 1/3 of selling price for his products. Remaining 2/3 is
enjoyed by middlemen, with no value addition to the product. There is no sufficient growth in
logistics like Warehouse, Roads and Communication that is essential for Rural Development.
Organised retail has these opportunities of investing and developing infrastructures basic to
retail and help the farmer by buying directly from him by offering remunerative price.
4. Increasing Income Levels:
Size of middleclass population is increasing in India. It is estimated that India has
around 40 cr. population that can be classified under middle income level. It is the size of
population of America. They are the big spenders. The normal income level of every family
is increasing with both spouse working, people have more income to spend on their comfort
and luxuries. Organised retail can provide avenue for their spending.

5. Nuclear Family:
Joint family system is gradually disappearing. The concept of Nuclear family i.e.,
Husband wife and kids with everybody engaged either in Job or in education. They do not
have free time to go for shopping. Organised retail in the form of Department store
Hypermarket can provides them one stop solution to make all their purchase comfortably or
conveniently, e-tailing visit to websites like ‘Naaptol’ Quickr can solve their shopping
problems sitting at home.
6. Increasing Consumerism:
Indian customer is described as Tight fisted. He does not spend lavishly. There is
stress on saving. With growing education, life style is changing particularly young population
believes in enjoying comforts and luxuries People are aspiring for a higher living standard.
The exposure to TV, Internet has made people to know life style of western people.
Consumerism i.e., consumption and satisfaction is catching up in Indian society that is
creating new opportunities for organised retail growth.
7. Urbanisation:
Growing urbanisation is creating opportunity for retail marketing. Prospects of gelling
c job in city and attraction of city life is making rural people to migrate to urban centers.
Further town areas are upgrading into cities, with better urban look and infrastructure. People
are becoming urban i.e., sophisticated in their consumption habits that is creating opportunity
for retail marketing.
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Benefits of Retail Marketing:
Retail Marketing has following benefits:
1. Increase in Standard of Living:
Organised retail provides variety of goods and services. They are made available at
reasonable price and at convenient location to the people. People will be induced to enjoy
comforts and luxuries that will increase their standard of living.
2. Employment Opportunities:
Organised retail can provide direct job opportunities in retail store. Indirect job
opportunities are created in logistics that is warehousing, transportation, banking that support
retail marketing. It is estimated that organised retail in India can provides 10% shares in total
employment.
Apart from this, organised retail will induce demand. People are motivated to consume more
and more. This will create demand and needs more production and investment in business
activities. Employment of capital and labour will increase to meet additional demand that
results in increase in economic activities.
3. Relief to Farmers and Consumers:
Indian farmer is forced to sell his product at un-remunerative price. He cannot hold
stock in anticipation of better prices due to poor facilities of storage and transportation. It is
said that he gets only 1/3 of selling price. Similarly Indian customer is made to pay a higher
price for the product, due to high margin of middlemen. There is no value addition to the

goods. Further large quantity of farm produce and vegetable is damaged and wasted due to
poor infrastructure.
Retail marketing and large retail houses can overcome these limitations:
i. They may buy products directly from farmers giving him a definite price.
ii. They create adequate storage and other facilities so that quality of product is not
deteriorated or damaged.
iii. They make value addition to goods through Grading, standardisation, packing and
branding.
iv. These goods are offered to consumers at reasonable price with better facilities.
4. Efficient Use of Resources:
Retail marketing ensures efficient and economical use of resources and inputs.
Organised management and optimum capital ensures that there is no wastage of stocks and
materials. Facility of storage ensures that products are not damaged. Application of inventory
control techniques ensures that optimum level of stock is maintained. Marketing tactics like
Discount Sale, Offers, ensure that dead stock is cleared through clearance sale.
5. Exposure to Different Cultures and Globalisation:
People are exposed to enjoy wide variety of goods that are manufactured worldwide.
Indian customers have become familiar with Pizza, Burger, and Westerners can be made to
taste Indian Rasam Biriyani and hot curry.
Along with this there is sharing of consumption habits between people living in different
corners of the world that is made possible due to big MNC’s that have opened there outlets in
different parts of world. These Hypermarket Departmental Stores are introducing culture
(Consumption habits) of one part of world to the other part. Vasudaiv Kutumb i.e, entire
globe is one family may be made possible due to organised retail.
6. Develop Healthy Life Style:
Health and Longevity depends on consumption style. Quality food and life style will
lead to quality, healthy and long life.
Retail marketing provides opportunity for this:
i. It creates desire in the minds of people to demand for quality goods.
ii. Educates people to lead healthy and quality life.
ii. Creates and distributes these goods that are within his reach.
7. Customers Delight:
Retail marketing ensures not only customer satisfaction, but something more than
that:
i. By offering wide variety of goods to select from.
ii. Facilities of home delivery, after sale service guarantee, warranty.
iii. Reasonable price, discount offers
iv. Facility of credit, finance.
Retail marketing makes people to imagine or desire goods that can satisfy and it creates and
delivers those goods, surpassing the expectation of customers and thereby creating customer

Types of Retail Outlets
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
Examples - Shoppers Stop, Pantaloon
◾Discount Stores
Discount stores also offer a huge range of products to the end-users but at a
discounted rate. The discount stores generally offer a limited range and the quality in certain
cases might be a little inferior as compared to the department stores.
Wal-Mart currently operates more than 1300 discount stores in United States. In India Vishal
Mega Mart comes under discount store.
Merchandise:
Almost same as department store but at a cheaper price.
◾Supermarket
A retail store which generally sells food products and household items, properly
placed and arranged in specific departments is called a supermarket. A supermarket is an
advanced form of the small grocery stores and caters to the household needs of the consumer.
The various food products (meat, vegetables, dairy products, juices etc) are all properly
displayed at their respective departments to catch the attention of the customers and for them
to pick any merchandise depending on their choice and need.
Merchandise:
Bakery products
Cereals
Meat Products, Fish products

Breads
Medicines
Vegetables
Fruits
Soft drinks
Frozen Food
Canned Juices
◾Warehouse Stores
A retail format which sells limited stock in bulk at a discounted rate is called as
warehouse store. Warehouse stores do not bother much about the interiors of the store and the
products are not properly displayed.
◾Mom and Pop Store (also called Kirana Store in India)
Mom and Pop stores are the small stores run by individuals in the nearby locality to
cater to daily needs of the consumers staying in the vicinity. They offer selected items and are
not at all organized. The size of the store would not be very big and depends on the land
available to the owner. They wouldn’t offer high-end products.
Merchandise:
Eggs
Bread
Stationery
Toys
Cigarettes
Cereals
Pulses
Medicines
◾Speciality Stores
As the name suggests, Speciality store would specialize in a particular product and
would not sell anything else apart from the specific range.Speciality stores sell only selective
items of one particular brand to the consumers and primarily focus on high customer
satisfaction.
Example -You will find only Reebok merchandise at Reebok store and nothing else, thus
making it a speciality store. You can never find Adidas shoes at a Reebok outlet.
◾Malls
Many retail stores operating at one place form a mall. A mall would consist of several
retail outlets each selling their own merchandise but at a common platform.
◾E Tailers
Now a days the customers have the option of shopping while sitting at their homes. They can
place their order through internet, pay with the help of debit or credit cards and the products

are delivered at their homes only. However, there are chances that the products ordered might
not reach in the same condition as they were ordered. This kind of shopping is convenient for
those who have a hectic schedule and are reluctant to go to retail outlets. In this kind of
shopping; the transportation charges are borne by the consumer itself.
Example - EBAY, Rediff Shopping, Amazon
◾Dollar Stores
Dollar stores offer selected products at extremely low rates but here the prices are
fixed.
Example - 99 Store would offer all its merchandise at Rs 99 only. No further bargaining is
entertained. However the quality of the product is always in doubt at the discount stores.
Retail Pricing
Cost Plus Pricing Mechanism
Every organization runs to earn profits and so is the retail industry.
Cost plus pricing works on the following principle:
◾Cost Price of the product + Profit (Decided by the retailer) = Final price of the
merchandise.
According to cost plus pricing strategy the retailer adds some extra amount to the actual cost
price of the product to earn his share of profits. The final price of the merchandise includes
the profit as decided by the retailer.
Cost Plus Pricing
◾Cost plus pricing strategy takes into account the profit of the retailer.
◾Cost plus pricing is an easy way to calculate the price of the merchandise.
◾The increase in the retailer price of the merchandise is directly proportional to the increase
in the cost price.
◾The customers however do not have a say in cost plus pricing.
Manufacturer Suggested Retail Price (Also called List Price or Recommended retail price)
According to manufacturer suggested retail pricing strategy the retailer sets the final price of
the merchandise as suggested by the manufacturer.
MSRP
◾The retailer sells his merchandise at a price suggested by the manufacturer.
Condition 1
◾The retailer sells the product at the same price as suggested by the manufacturer.
Condition 2
◾The retailer sells the merchandise at a price less than what was suggested by the
manufacturer - Such a condition arises when the retailer offers “Sale” on his merchandise.
Condition 3

◾Retailers initially quote an unreasonably high price and then reduce the price on the
customer’s request to make him realize that a favour has been done to him. A condition of
Bargain - where the customer negotiates with the retailer to reduce the price of the
merchandise.
Competitive Pricing
The cut throat competition in the current retail scenario has prompted the retailers to
guarantee excellent customer service to the buyers for them to prefer them over their
competitors.
◾The price of the merchandise is more or less similar to the competitor’s but the retailers add
on certain attractive benefits for the customers. (Longer payment term, gifts etc.)
◾The retailers ensure that the customers leave their store with a smile to have an edge over
the competitors.
◾He tries his level best to offer better services to the customers for a better business in
future.
Pricing Below Competition
According to pricing below competition policy
◾The price of the merchandise is kept lesser than what is being offered by the competitors.
Prestige Pricing (Pricing above competition)
According to prestige pricing mechanism, the price of the merchandise is set slightly above
the competitors.
The retailer can charge higher price than the competitors only under the following
circumstances:
Exclusive Brands at the store.
Brand image of the store
Prime location of the retail store
Excellent customer service
Merchandise not available at any other store
Latest Trends
Psychological Pricing
◾Certain price of a product at which the consumer willingly purchases it is called
psychological price.
◾The consumer perceives such prices to be correct.
◾A retailer sets a psychological price which he feels would meet the expectations of the
buyers and they would easily buy the merchandise.
Multiple Pricing
◾According to multiple pricing, the retailer sells multiple products (more than one) for a
single price.
◾The retailers combine few products to be sold for a single fixed price.
◾3 Shirts for $100/- or 3 Perfumes for $20/- and so on.

Discount Pricing
According to discount pricing, the retailer sells his merchandise at a discounted price during
off seasons or to clear out his stock.
Retail Promotional mix
In marketing, the promotional mix describes a blend of promotional variables chosen by
marketers to help a firm reach its goals.[1][2][3][4][5] It has been identified as a subset of the
marketing mix.[1] It is believed that there is an optimal way of allocating budgets for the
different elements within the promotional mix to achieve best marketing results, and the
challenge for marketers is to find the right mix of them. Activities identified as elements of
the promotional mix vary, but typically include the following:
Advertising:
Advertising is the paid presentation and promotion of ideas, goods, or services by an
identified sponsor in a mass medium. Examples include print ads, radio, television, billboard,
direct mail, brochures and catalogs, signs, in-store displays, posters, mobile apps, motion
pictures, web pages, Etc.,
Personal selling
It is the process of helping and persuading one or more prospects to purchase a good
or service or to act on any idea through the use of an oral presentation, often in a face-to-face
manner or by telephone. Examples include sales presentations, sales meetings, sales training
and incentive programs for intermediary salespeople, samples, and
telemarketing.[1][2][3][4][5]
Sales Promotion
It is media and non-media marketing communication used for a pre-determined
limited time to increase consumer demand, stimulate market demand or improve product
availability. Examples include coupons, sweepstakes, contests, product samples, rebates, tie-
ins, self-liquidating premiums, trade shows, trade-ins, and exhibitions.[1][2][4][5]
Public relations or publicity
It is information about a firm's products and services carried by a third party in an
indirect way. This includes free publicity as well as paid efforts to stimulate discussion and
interest. It can be accomplished by planting a significant news story indirectly in the media,
or presenting it favorably through press releases or corporate anniversary parties. Examples
include newspaper and magazine articles, TVs and radio presentations, charitable
contributions, speeches, issue advertising, seminars
Direct Marketing
It is a channel-agnostic form of advertising that allows businesses and nonprofits to
communicate directly to the customer, with methods such as mobile messaging, email,
interactive consumer websites, online display ads, fliers, catalog distribution, promotional
letters, and outdoor advertising

Introduction to Retail Logistics
The word logistics is derived from the french word “loger” which means “to quarter
and supply troops”. When large number of troops and their equipment move, meticulous
planning is required to move volumes of goods and ammunition in that direction. From a
marketing point of view, customers are satisfied when they get right product at the right
place, at the right time and in the right quantity. Retail logistics system ensures smooth flow
of goods to customers through efficient movement of logistics.
Meaning of retail logistics
‘Retail logistics’ is the organist process of managing the flow of merchandise from
the source of supply to the customer.
Large retailers deal in a wide variety of products. This has created a need for a systematic
planning of movement of numerous goods until they are delivered to the customer. Retail
logistics ensures that everything is in place to offer better delivery and service at lower prices
by way of efficient logistics and added value.
Functions of retail logistics system
1. The increased product variety in stores has forced the retailer to follow an effective
logistics system. It takes care of the
a. flow of merchandise from the producer or intermediary to the warehouse,
b. arrangement of transport to the retail units till the merchandise is sold and delivered to
the customers.
2. The system satisfies the customer by taking the right product to the right customer, at the
right place and at the right time. This requires a planned approach right from the starting
point till the point of delivery.
3. Profitability of the present and future are maximized by the logistics system by means of
fulfillment of orders in a cost effective way.
4. It ensures the availability of infrastructure such as warehousing, transport, inventory and
administration. The inter relationship that exists between these elements are effectively
coordinated.
5. Retail logistics system strives to add value for the customer. For this purpose, the cost
elements in the supply chain are brought under the direct control of the retailer. Depending on
sales volume, retailers create central or regional distribution centres. They decide on major
investment in property, plant and equipment with associated overheads.
6. The functions incorporated in the retail logistics are summarized.

i. The physical movement of goods
ii. the holding of the goods in stock holding points
iii. the holding of goods in quantities required to meet demand from the consumers
iv. the management and administration of the process in modern complex distribution
system.
Role of Technology in Retail Industry
Staying up-to-date with the technology in your industry is essential to stay ahead of the
curve.
Technology is changing the way many businesses operate for the better of the company
and its customers.
Technology is enhancing many industries from financial institutions to retail outlets. It is
important that companies stay up-to-date with the increasing changes and enhancements
technology is creating for their business. In the retail industry, technology is changing the
way many aspects of the industry are conducted.
Role of Technology in the Retail Industry
 Point of Sale
Until very recently, customers have had to stand in long lines to purchase their
merchandise. Thanks to technology, though, customers can check out from wherever they
are in the store through handheld computers, scanners, and printers. This has significantly
improved the satisfaction of customers because before, about 10% of customers would
leave without making a purchase if they had to wait a long time in a long line.
The use of technology in retail has also made payment processes easier with
contactless payments. These payment methods use RFID or NFC technology to allow the
customer to make their purchase with their smartphone or even watch. This technology
has eliminated the need for passwords or PINs and has streamlined the checkout process
for customers. Faster transactions have led to higher sales volumes in stores that offer
remote POS and contactless payments.
 Customer Service
When customers have to wait in long lines to purchase their items or can never find an
associate to help them out, they get frustrated with the store and their satisfaction goes
way down. Technology changes this by offering customers the help they need with self-
help kiosks. These kiosks have helped businesses save money and increase the satisfaction
of their customers. Machines like self-help kiosks are an excellent application of IT in the
retail industry.
Technology has also improved the way customers shop online by providing a more
personalized shopping experience. Technology is also being used by companies to offer
their customers virtual views of products through augmented reality. Augmented reality
allows customers to get a better idea of what they want to purchase before they make their
final decision. With this technology, businesses have improved the experience of their
customers and increased their sales.

 Management of Inventory
The practice of managing inventory has always been very costly for businesses. With
technology that can track inventory through its purchase cycle and offer real-time
information about the product to management, inventory management has gotten better
and is costing companies a lot less. With technology tracking items and offering real-time
updates about the items, managers have a much better sense of what is being purchased
and what items they need to order to keep their merchandise stocked. When technology is
used to keep track of inventory, store merchandise is more organized and the potential for
employee theft is drastically decreased.
 Price Auditing
Just like with inventory management, price auditing has been a time-consuming and costly
process for businesses. Price auditing is necessary, though, for companies to ensure that
they’re not overcharging or undercharging their customers. Technology has streamlined
this process by automating price checks when products are scanned. This creates more
accurate pricing, saves store employees a lot of time and creates better trust between the
store and the customers. The impact of this information technology in retaining has been
very great and beneficial.
Technology is changing many industries and benefitting many companies and customers.
It is essential that companies stay up-to-date with changing technology and ensure that they
are utilizing all technology that is available to them. Technology is not only making jobs
easier, customers happier and businesses more accurate, it is also saving companies time and
money.
SUPPLY CHAIN MANAGEMENT-INTRODUCTION
Supply chain management (SCM)
Is the management of a network of interconnected businesses involved in the ultimate
provision of product and service packages required by end customers (Harland, 1996).
Supply Chain Management spans all movement and storage of raw materials, work-in-
process inventory, and finished goods from point-of-origin to point-of-consumption (supply
chain).
What is supply chain management?
Supply chain management (SCM) is the combination of art and science that goes into
improving the way your company finds the raw components it needs to make a product or
service and deliver it to customers. The following are five basic components of SCM.
Plan—This is the strategic portion of SCM. Companies need a strategy for managing all the
resources that go toward meeting customer demand for their product or service. A big piece
of SCM planning is developing a set of metrics to monitor the supply chain so
that it is efficient, costs less and delivers high quality and value to customers.
Source—Next, companies must choose suppliers to deliver the goods and services they need
to create their product. Therefore, supply chain managers must develop a set of pricing,
delivery and payment processes with suppliers and create metrics for monitoring and
improving the relationships. And then, SCM managers can put together processes for

managing their goods and services inventory, including receiving and verifying shipments,
transferring them to the manufacturing facilities and authorizing supplier payments.
Make—This is the manufacturing step. Supply chain managers schedule the activities
necessary for production, testing, packaging and preparation for delivery. This is the most
metric-intensive portion of the supply chain—one where companies are able to measure
quality levels, production output and worker productivity.
Deliver—This is the part that many SCM insiders refer to as logistics, where companies
coordinate the receipt of orders from customers, develop a network of warehouses, pick
carriers to get products to customers and set up an invoicing system to receive payments.
Return—This can be a problematic part of the supply chain for many companies. Supply
chain planners have to create a responsive and flexible network for receiving defective and
excess products back from their customers and supporting customers who have problems with
delivered products..
The Future of Retail Business in India
After the entrance of e-commerce in India, the face of the retail industry has changed
drastically. (See the infographic on history of Indian eCommerce). A large base of consumers
prefers to purchase online rather than taking themselves to the brick and mortar stores. Also,
m-commerce has been affecting the consumer purchase behavior extensively.
In the coming years, the brick-and-mortar retail industry is also set to see some extreme
changes taking place. The mom and pop shops are, however, trying hard to attract the
customers to their stores. Technology investments shall be the top priority. Retailers will
heavily invest in consumer data and relevant analytic to provide their customers with an
experience much satisfying than the online stores.
Here are the top 4 trends in the retail industry which will give a hefty competition to online
shopping.
1. Omni-channel retailing:
Today’s consumers have become increasingly tech-savvy. Before purchasing a
product, they do in-depth research on the product features, price, etc. Retailers will
need to adapt to adopt to Omni Channel Retailing to ensure consistent consumer
experience for such customers. Omnichannel retailing concentrates on making the
customer experience seamless through all available channels, i.e. computers,
mobile devices, brick & mortar, catalog etc. It integrates functions like e-
commerce, marketing, merchandise, inventory management, financial, warehouse
management, CRM and makes them runs in sync. In Omni-channel retailing, all
shopping channels work from the same database of products & prices, so the

consumers’ experience is not hampered. This approach enhances marketing by
providing offers relevant to customer purchase patterns, loyalty programs, data
mining activities, etc. Consumers thus get a wholesome experience.
2. Mobile devices:
Mobile is going to play a much more important role in the coming years.
Penetration of smartphones & tablet devices is paving a new road for shopping and
payment methods. People have now started using their credit cards, digital wallets,
etc. for purchasing online. These payment methods are definitely going to collect a
huge sum of payments. A recent study suggested that by December 2014, the
digital payment market will collect Rs 1.2 trillion. The retailers need to identify
how they can synchronize purchases with the mobile devices consumers use while
they are in the store (sending a notification about the product they purchased,
discount offers, and etc. over a secured network). These methods will open up new
possibilities for the retailers at the point of sale. They will need to identify
such opportunities and integrate new trends into their existing landscape, which
will help them reap the profits.
3. Personalized in-store experience:
1. While eCommerce sites have been personalizing the experience for its
consumers for years, retailers are will now need to step in with
personalization. After the boom of the eCommerce industry in India,
retailers have realized that shopping is the new method of
being entertained. For differentiating the in-store shopping experience
from the one that shoppers find online, retailers will have to work on
providing each customer with an experience fitting his/her
requirements. Gucci recently set up a 5 HD resolution displays in the
Milan store through which customers can browse the products by hand
gestures. Such innovation will help in attracting customers back to the
stores.
4. Reinvention of loyalty programs:
Customers generally tend to opt for loyalty programs offered by the retailers.
The retailers will now need to beef up their loyalty programs. Loyalty programs
will be morphed into a whole new model. Loyalty cards might get diminished and
instead of these cards, retailers will start providing customized rewards that will
contain information relevant to consumers such as shopping behavior, social

information, etc. These incentives are offered to the consumers so they can gain
more benefits by shopping in brick & mortar stores rather than shopping online.
These are the 4 technology changes we could spot. Do list as a comment the changes you
think can help retailers bring the customer to their store. Also, if you are now thinking of
upgrading your technology, here is the list of the top 7 retail management software for
business. You can also talk to our Retailing & POS Software Analyst for the best suggestion
on which software will fit your needs best.
Factors involved in International Retailing
A careful examination of the definition for international retailing reveals certain concepts
which are key to the process of international retailing. These include operations, concepts,
management expertise, technology and buying.
1. Operations
Retail internationalization is the expansion of a retailer’s operations into a foreign
market. The store format may or may not be similar to that in the home market. Identical
operations may well trade under a different brand than that operated in the domestic market.
This decision is largely dependent upon the method of market entry. On the acquisition of a
foreign retail operation, the new owner may retain the original brand if it is a respected brand.
For example, in 1999 Wal-Mart (the retail giant) bought UK grocery chain ASDA and
retained the original ASDA brand. When a retailer enters a new market by franchise, it may
transfer an established domestic brand. Sometimes, a new foreign brand is perceived as more
fashionable than its competitors.
2. Concepts
Retail concepts lay emphasis on innovations in the industry. The self service concept
first emerged in California in 1912. Later, the concept was followed in a number of
international markets in the next two decades. Similarly, the convenience store format which
originated in USA in 1920s was taken up in Europe in the 1970s. Now, the focus in on
globalization. The retail concept currently by operated by retailers may also become
successful in a foreign market.
The internationalization of “the body shops” popularized the idea of environmentally
sensitive products. The success of such concepts have been adopted by competitors spawning
of similar retail offers in natural toiletries and cosmetics.
3. Management expertise
The transfer of concepts is linked with the internationalization of management
expertise. This encompassed the internationalization of skills and techniques used in the
management of the business. Formation of alliances is an important means of transferring
management functions. Retail alliances are prompted by operational synergies, buying
economies of scale, increased retailer power over manufacturer, the development of retailer
own labels and joint defense building against the market entry of foreign competitors.
International retail alliances are the direct outcome of growing globalization. Successful
alliance management rests on close cooperation, communication, synergistic performance
measures and an agreement to common objectives.
4. Technology
Retailers who operate internationally require the use of technology advances. Use IT
in central management of retail operations has improved its decision making in areas such as

finance, personnel and logistics. Technologies such as EPOS (Electronic Point of Sale) are
also used at operational levels of retail stores.
Generally, internationalization will employ relatively advanced technology. It is preferable
for retailers to move into a market where they have a technological advantage. Technological
advantage in turn, would confer a competitive advantage over indigenous retailers.
5. Buying
The proportion of consumer expenditure on retail is considerably important. As the
population becomes more wealthy a greater proportion of income is spent on non-essentials.
Only a small percentage of total spend goes on food and clothing. A higher share of spending
power is directed towards non-essentials such as holidays and leisure activities. In retail
operations the function of buying is indeed sourcing. Sourcing has had the greatest impact in
terms of internationalization.
Alliances are formed to attain efficiency and leverage in sourcing. International retailers use
their collective influence with suppliers to reduce prices and improve quality. For example,
the European alliance EMD has stated exerting the combined purchasing power of its
members as its primary objective.
Electronic Retailing - E-tailing
Electronic retailing requires many product and service displays and specifications, giving
shoppers a personal feel for the look and quality of the offerings without requiring them to be
present in a store.
Characteristics of Successful Electronic Retailing
Successful e-tailing requires strong branding. Websites must be engaging, easily navigable
and regularly updated to meet consumers' changing demands. Products and services need to
stand out from competitors' offerings and add value to consumers' lives. In addition, a
company's offerings must be competitively priced so consumers do not favor one business
over another based on cost alone.
E-tailers need strong distribution efficiency so consumers are not waiting long periods of
time for the products or services they purchase. Transparency in business practices is also
important so consumers trust and stay loyal to a company. As consumers continue buying
from the business, revenue increases.
Advantages of Electronic Retailing
E-tailing helps traditional brick-and-mortar stores reach more consumers worldwide and
increase sales. Individual and startup e-tailers may be launched from a single room with one
computer and expand rapidly rather than pay for an entire building with expensive overhead.
E-tailers may trace consumers' shopping behavior while gaining valuable insights into
their spending habits, which may lead to increased revenue. In addition, customers shop from
the comfort of their homes at any time rather than being physically present in the store during
specific hours.
Many brick-and-mortar retailers have chosen to expand their offerings online because it
saves cost. Automated sales and checkout cut down on the need for personnel and websites
cost less than physical stores. It also reduces advertising and marketing expenses as
customers can find the stores through search engines or social media.
Disadvantages of Electronic Retailing
However, creating and maintaining an e-tailing website may be
expensive. Infrastructure costs for order fulfillment, warehousing goods, dealing with returns
and other issues add up quickly. Also, consumers may not trust a company that is not well-
established and may not buy from it as frequently as a brick-and-mortar store.

In addition, e-tailing does not provide the emotional shopping experience encouraging
consumer spending the way being physically present in stores does. E-tailing does not let
consumers hold, smell, feel or try products or services for the sensory support of buying
them. It also does not provide the personal service many consumers are accustomed to when
shopping.
Consumers may be concerned about providing credit card information online and having
their personal details jeopardized. Also, operating with an unproven business model increases
the odds of an e-tailer failing. Consumers may have no recourse if the company becomes
insolvent and cannot refund product or service payments as requested.
The Largest Players
Amazon is by far the largest online retailer with more than $94.7 billion in sales in 2016,
giving it a massive piece of the pie. The U.S. Commerce Department estimates that
consumers spent $394.9 billion online in 2016, a 15.6% increase from the previous year.

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