Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
negative impact of globalisation
Contemporary women in society
Contemporary women in society
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: negative impact of globalisation
Century Publication, Pg.No.31-32
C. Emerging formats :
Two factors brought about the development of today’s retailing. The first is the growing domestic demand which cause a store to expand into a group of small shops under one roof. Demand growth in retail sector has been rising due to rising incomes, growing purchasing power and increasing urbanization, implying higher consumption at retail level. A second factor is the supply factors which is due to increase in discretionary spending among people, increase in proportion of working women and increase number of foreign retailers setting up in India in the recent past.
• Exclusive retail outlets – Today India has a host of both small and large formats with exclusive stores having national and international brands under one roof catering to all
…show more content…
These stores make their appeal on the basis of a single line or closely allied lines of goods. Because these shops specialize in a limited filed, they are able to offer a wide assortment of goods, an extensive range in sizes, and the newest styles. Since their buyers can concentrate on a few lines, their knowledge of these lines is more complete than that of a buyer for many different lines. Specialty stores offer an opportunity to practice salesmanship of a high order, and salespeople in these stores are frequently paid larger salaries than are those in other stores. A large amount of the retail trade of wealthy people in the larger cities goes to specialty stores. E.g. if a customer visits a Reebok store then they find just Reebok products in the stores.
• Multiplexes – When a group of shops all selling the same thing are brought together under one management they become a multiplexes. The multiplexes can afford to employ experts in buying, accounting, advertising and other functions of retailing.
Table No. - No. of Outlets in various modes of stores in food and grocery
Large players can offer competitive prices if they buy in bulk. Smaller players can differentiate themselves by offering niche products and superior customer delight at a premium price.
Due to the good establishment of the business, it has huge market national. The company has therefore opened many retail shops and stores all over the country to ensure that their products are accessible to the customers. The entity provides a favorable environment, and many clients view the place as a fun shopping place to be. The retailer has targeted a big pool of customer because of the variety of products it sells. The stores products vary from kitchen goods, jewelry, and electronics clothes to hardware
Place: They opened discount factory outlet stores in rural areas and retail stores in urban shopping center. By selling different kind of product in different places help them to meet the different need of the customers. On the other hand, they also sell their product online, where customer can purchase their product at anywhere and anytime. All this make them be able to maximize their gain.
Macy 's strategy is to provide a "localized merchandise offering and shopping experience to targeted consumers" (Macy 's Inc., n.d.). Macy 's generates primary revenue through the sale
There are many reasons for choosing to go into a store to purchase items needed. For instance, having someone assist you in finding what you need, or just answer questions about the product. It is also a way to get off the couch, away from the television, or off the computer. Another feature is you can see and examine what you are going to purchase. This helps in the decision making for most people. You know the minute the salesperson rings you up, the product is yours to take home and use right aw...
...Thus, it’s a significant and strategic step to set up small and medium sized shops in the second and third tier cities.
“Flagship stores are stores which are mainly used to showcase the brand of the items and do not fully focus on profits and revenues” (Joy , et al, 2010).ES thought of using these flagship stores as an entry mode especially for strategic locations such as Paris, Beirut and Dubai. These locations had their own importance as they were the hub for fashion house and helped in company’s market development. Apart from flagship stores the company also had direct stores in Beirut and Paris to ensure that it has full control on these stores and could market their products in these stores. “ The advantage of having direct ownership is that this falls under your custody and you don’t have to depend on external agencies to promote your products” (Brondoni and Fabio , 2010). The quality of the product will not be neglected. The other advantage of having your own store is that you don’t have to compromise with the profit margin and its up to you to decide what profit margin you would like to go with for each item. However one of the disadvantages of having direct store ownership is that you will have to bear the overhead cost and at the same time also you may not be having enough knowledge about the local market. Direct stores also involve hiring of right staff, their trainings and
Even the slowdown in current global economies could not bring retail sector down as retailers keep seeking for opportunities overseas to avoid challenging economic condition, which make this sector becoming more globalised and competitive. As an heir of an industrial components retailer, I also believe there are bountiful opportunities to grow in this emerging industry. But without deeply and truly understanding in every aspect of retailing, one could not survive in the battle. For this reason, I would like to pursue my education further by studying Master in retail management to obtain knowledge in retailing and hopefully become successful in the field.
Community shopping centre, which consists of only one primary store, plus 20 to 40 smaller ones;
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space.
The variety of the distribution system results in the most complex problems for international marketers. Japan has the most complex system while The United States have a more standardized one. Global retailing is influenced by a number of factors. These include high operating costs, strict regulation on the store development, recession and saturation in home country. The use of e-commerce in international distribution has a number of advantages. According to Slangen and Dikova (2014), it offers the customers with greater choice, lowers the cost of transactions, brings customers closer to the market
2. Organized Retail: The emergence of organized retail have lead to more variety with ease in browsing, opportunity to compare with different products in a category, one stop destination (entertainment, food and shopping) etc, which is playing an important role in bringing boom in the Indian FMCG market. Currently the modern trade is capturing 5% of the total retail space, which will increase to 10% and 25% in 2010 and 2025 respectively. Also, as the credit card and organized retail trend picks up, people won’t think much while buying and buy more.
Majority of Unorganized retailers of kirana stores mentions that the organized retail markets do not impact their business at all. They believe that none of them can serve their customers the way they can – credit, home delivery and variety of goods being the key.
Department stores do not manufacture products nor create their own brands of merchandise, their products are not differentiated. As a result, consumers have low switching costs, customer loyalty is low, as they can easily purchase similar products elsewhere. These lower the barriers to entry, allowing new entrants a chance to gain customers.
We always make sure that when they come to our stores they experience the best shopping and that they find what they want to buy and we have a reason for them to buy. We make sure that our merchandising is up to standards and it motivates the customers to shop in our stores.