Retailing is the sum of all the activities involved in selling products and services directly to final consumers for their personal, non business use. These products and services are sold in smaller quantities and with high frequency. Many institutions,-manufacturers, wholesalers, and retailers do retailing. In developed countries to do big business retailing is being done. Retailing plays a very big role in most marketing channels. Each year, retailers account for more than $4.5 million of sales to final consumers. India has the largest number of outlet in world i.e. 9 outlets for 1000 people. Most of them are independent and contribute to the retail sales. Because of increasing number of nuclear families, working women, greater working pressure, and greater commuting time and convenience has become a priority for Indian customers. They want things under one roof for easy access and multiplicity of choice. In fact, nowadays non store i.e online retailing has been rapidly growing much faster than store retailing. Nonstore retailing involves selling the goods to final consumers through the internet, direct mail, catalogue, telephone, and other direct selling approaches.
MAJOR RETAILERS IN INDIA
PANTALOON:
Pantaloon is one of the largest retailers in India across the country. Headquarters in Mumbai. In 2001 Pantaloon
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It comes under Future group. There are many facilities which big bazaar provides but the main facility big bazaar provides is online shopping: Big bazaar has its official website i.e. Future bazzar.com which one of the most favourite sites among people of India for online shopping. Big bazaar has released the doors for the fashion world, general merchandise like sports, cutlery, crockery, home utensils at reasonable prices. Lower middle class and middle class are a major client of big bazaar. Big bazaars gives the the look and feel of Indian bazaars at their modern
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
In conclusion, retailers differ to attract different customer bases. Retailing proves to be rather complex because it “encompasses the business activities involved in selling goods and services to consumers for their personal, family, or household uses” (3). Wal-Mart and Apple Inc. strive to satisfy their consumers by appealing to them in different ways with the computers. The purchasing process differs between the two retailers as well. Overall, how one purchase a product, such as a computer shows how every process and activity we do in business plays a
Levy, Michael, Barton A. Weitz, and Dhruv Grewal. Retailing Management. ed. New York, NY: McGraw-Hill Education, 2014. Print.
Deliver WOW through service. This is the center esteem that controls all of them. Zappos has gotten synonymous with model client administration (routinely moving up to free overnight shiping, for in...
Retailing consists of the sale of goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by post, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be individuals or businesses. A "retailer" buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells smaller quantities to the end-users / consumers. Retail establishments are often called shops or stores. Retailers are at the end of the supply chain. Manufacturing
the global leader in online retail. By taking advantage of the opportunities to capture the market
Retailing has a tremendous impact on the economy. It involves high annual sales and employment. Retail involves the selling of goods to end users. While meeting the needs of customers, following are some of the functions performed by a retailer:
Retailers like supermarkets that act as intermediary in selling goods manufactured from secondary sector businesses to the consumers.
Also, the retail environments offer things that online shopping does not offer (Richardson, 2017). In the grocery business, customers like to pick their products over having someone else choose their products for them. For example, a customer knows what type, size, and cut they like, going to the grocery store offers them a butcher that can cut the meat the way they want. However, if they order the meat online, they will not know what condition the meat is in or where it shipped from which is important
Panchakanya will import branded clothes from China, Thailand and bankbook and national recognized cultural clothes from wholesalers and will distribute retail products. Our store will sell accessories (clutches, bracelets, jewellery) to the market.
The business model and marketing strategy is the backbone of Zappos business growth and development. By adopting customer oriented business model and marketing strategy the company gains popularity and favor in the eyes of our consumers. The company is famous for creating stylish and unique design of shoes that attract a younger generation of people that helps generate profitability because the younger generation purchasing power tends to be high (Hsieh,
The basic function of retail is to provide the right goods at right place to right consumers at right time. The marketing tools that a retail organisation uses to pursue its marketing objectives are termed as marketing mix.
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.
Rajagopal. "International Journal of Retail & Distribution Management." Emerald. Emerald Group Publishing Limited, 2011. Web. 21 Feb. 2014
The nature of the business of retailing puts retailers at a assumed risk of incurring costs because products are bought with the assumption that consumers will purchase. Additionally there are external factors that may also pose risks such as natural disasters, theft, spoilage and fire. In other circumstances retailers also extends financial credit to customers in the form of credit sales which facilitates the smooth transition from retailers to the marketplace. Retailers are in constant contact with customers which gives them the opportunity to research and study buyer’s behaviour. This involves collecting information about changes in customer preferences, perception and shifts in the demand curve. Through advertising within their stores retailers are able to exhibit and introduce existing and new products to the marketplace. Ultimately retailers are in the business of selling products to customers to achieve their goals of generating