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History Of Department Store

Powerful Essays
Department Store
A department store has a mixture of goods and services that are organized into different segments for the ease of shopping for the consumer. In India, the number of department stores is less compared to other retail formats such as supermarkets and discount stores. The store is based on lifestyle retailing and is divided into segments such as apparel, accessories, home appliances etc.

Hypermarket
Hypermarket is very popular with the customers. They offer consumers the mix of variety and saving. It’s because of this the hypermarkets are getting good response. All hypermarkets use food and grocery as an attraction.

Supermarket
The supermarkets main focus is on food related products and is smaller in size compared to hypermarkets.
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The retailer faces a more knowledgeable and demanding customer and since business exists to satisfy the needs of the consumer, the demands and expectations of the consumer often have forced the retail organization to change their formats and product offerings.

3. Technology:
With the increasing use of technology and the use of point of sale scanning systems and the bar code, a wealth of information is now available to the retailer. This information enables the retailer understand the consumer profile of his store, the products purchased, the price ranges and the promotional offers which have worked. The arrival of internet has made it possible for businesses to develop across geographies as both B2B and B2Clevels.

UNDERSTANDING THE RETAIL CONSUMER:
The customer may always be right but the customer may not be always profitable, this is the reason why many retail companies today are rethinking their customer’s strategies while the existence of the customers is integral to the existence of the retailer, the ability to understand the consumers is the key to developing a successful retail strategy. To be able to satisfy the customer it is necessary to understand them, their needs and how they respond to various marketing efforts done by the retail organization as competition increases and the customer become knowledgeable and demanding the retailer needs this knowledge to stay ahead of his competitors and build a competitive
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