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Understanding Retailing and Management

The document discusses retailing and retail management. Retailing involves selling goods or services to final consumers for personal use. Retail management includes all the steps to bring customers into a store and fulfill their buying needs, such as matching consumer demands with supplier inventory. Effective retail management saves time for customers and avoids chaos in stores. Retail is influenced by social, legal, economic, political, and technological factors.

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Mani Krish
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74 views9 pages

Understanding Retailing and Management

The document discusses retailing and retail management. Retailing involves selling goods or services to final consumers for personal use. Retail management includes all the steps to bring customers into a store and fulfill their buying needs, such as matching consumer demands with supplier inventory. Effective retail management saves time for customers and avoids chaos in stores. Retail is influenced by social, legal, economic, political, and technological factors.

Uploaded by

Mani Krish
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.

RETAILING

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.
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.
WHY RETAIL MANAGEMENT ?

Retail management saves time and ensures


the customers easily locate their desired
merchandise and return home satisfied.

An effective management avoids unnecessary


chaos at the store.
“’WHEEL OF RETAILING”

High-priced Low-priced
merchandise merchandise
top range high value store
store

Trading up mid-
price merchandise
mid-range store
EVOLUTION OF RETAIL IN INDIA

Established Emerging
Traditional formats Formats
Kirana shops Exclusive retail outlets
Formats
Convenience/ Hypermarket
 Haats Internal retail
department stores
 Melas
PDS/ Malls / Specialty Malls
Multiplexes
 Mandis etc. fair price shops
Pan/ Beedi shops Fast food outlets
Service galleries
INDIA'S LARGEST RETAIL CHAINS:

1. PDS: 463,000

2. Post offices: 160,000

3. KVIC: 7,000

4. CSD Stores:3,400

(source business world marketing White book 2005)


FACTORS INFLUENCING RETAIL
MANAGEMENT

Social

Legal Economical

Political Technological
 Social
how consumers, households and communities behave and
their beliefs. For instance, changes in attitude towards health,
or a greater number of pensioners in a population.

 Legal
the way in which legislation in society affects the business.
E.g. changes in employment laws on working hours.

 Economic
how the economy affects a business in terms of taxation,
government spending, general demand, interest rates,
exchange rates and European and global economic factors.

 Political
how changes in government policy might affect the business
e.g. a decision to subsidies' building new houses in an area
could be good for a local brickworks.

 Technological
how the rapid pace of change in production process and
product innovation affect an organization.

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