Archive | Retail Management

A Note on Store Layout Design In order to develop a good store layout, store planners and designers have to ensure the layout to be attractive enough to entice customers have access to comfortably move around the store to purchase more merchandise of their choice. The layout should also facilitate proper display of merchandise suitable [...]

Disadvantages of FDI in Retail in India : (1)     Impact on the organised players (eq. Kirana shops) The overall size of retail market in India at present is estimated at ` 5,88,000 crore of which, the unorganised portion of the market is worth ` 5,83,000 crore and the share of organised portion of the [...]

Advantages of FDI in Retail in India : (1)       Growth in Economy : Due to foreign companies entering into retail sector, new infrastructure will be built thereby bolstering the jagging real estate sector. In turn, banking sector will also grow as the funds needed to build infrastructure will be provided by banks. (2)     Job [...]

(1)       Customer Retention and Loyalty : CRM helps in improving customer retention and loyalty. The customer will spend longer periods at the retail outlet and buy more products, which can result in long-term value.             (2)     High Customer Profitability : CRM will help in generating high customer profitability through a steady flow of customer [...]

A Note on Effective Retail Space Management The sight of a good retail store with attractive windows and an enticing entrance—induce the customer into entering. The customer enters the store and often keeps walking inside following the walkway wherever it leads, or sometimes takes a while to look for directions, within the store. Sometimes the [...]

Factors Necessary to Consider Before Selecting A Final Site for any Store : (1)       Kind of products sold : For stores, dealing in convenience goods, the quantity of traffic is most important. The corner of an intersection, which offers two distinct traffic streams and a large window display area is usually a better site the [...]

  In general, the responsibilities of store manager are as follows : (1)     Management  of employees : The first and the foremost responsibility of the retail store manager is the management of employees. The store manager has to manage store employees working at various levels such as sales staff, store staff, cleaning staff and [...]

  Pricing Strategy : Retailers use two basic retail pricing strategies: high/low pricing and everyday low pricing (EDLP). Besides, there two basic retail pricing strategies, there are also other pricing strategies. (1)     High/Low Pricing : Retailers using a high/low pricing strategy frequently – often weekly-discount the initial prices for merchandise through frequent sales promotions. The sales [...]

(1)       Edge over the competition : The current competitive environment is such that the major brands are driven by the availability mantra, which makes sure that their products are available across all kinds of retail formats and retail outlets. The product mix carried by different retailers is more or less similar. In such an [...]

The process of merchandise planning involves the following steps Step 1 : Developing the Sales Forecast             Sales forecast is the projection of achievable sales revenue, based on historical sales data, analysis of market surveys and trends and salesperson’s estimates. Sales forecast also called sales budget, forms the basis of a business plan, since the [...]