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
Satisfying and pleasing customers have become something of a corporate obsession. Customer is served in the best, effective and most efficient manner and this practice has become critical.
Earl Sasser Jr. discusses why customers matter in his lecture because customers are essential in every business that have been created. He began by providing a story about a local grocery store in Norwalk Connecticut that kept expanding. Their customers were dedicated to making their store the best it could be by providing suggestions and participating in focus groups that concluded in results from the suggestions. Sasser wanted to show businesses that were not efficient in their customer care why their customers should matter because there are some companies who have leaders that have instilled these ways in their companies but there are some that neglect the fact that their customers do matter. Sasser says that if you listen to all the CEOs
Having prior knowledge of a customers needs, habits, and questions before or during every interaction and transaction can boost customer satisfaction. (Zueschner, Raymond. (1997). Communicating Today. Boston: Allyn and Bacon.
A woman’s heaven on Earth became the department store in 1838 in Paris. The department store became a haven where women of the wealthy middle class and the Bourgeois could spend their free time there and feel safe, much like they did at church. It also became an expansion of a woman’s sphere in both her work life and in public. But since the department store was first erected, it begs the burning question: why would the women of Paris feel safe in the department stores? Why would the lower middle-class girls work in the department stores where the hours were long and the salary was minimal? The department stores changed the way women were viewed in both society and by each other because they became “modern women” rather the “traditional women” that they’d been seen as before.
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
First, customer centricity is important to channel customer centricity into their company strategy. It will get the whole workforce on track. Next, the collection should keep their customer data up-to-date. They would benefit from building a stable foundation by bringing all of their current customer contacts. The brand should also save all documents including minutes-of-meetings, emails, offers, contracts, and every payment transaction. Then, the company should establish healthy customer relationships based on their customer profile. It is always important to follow-up on customers and to make sure they stay satisfied with the merchandise. Finally, it is all about the customer. Their response is very important. It is viable to surprise and impress their customers, as well as plan and implement multi-phase marketing campaigns(CAS
This paper discusses Customer Relationship Management objectives, strategy, and tactics of Kroger, Inc. Kroger, founded by Bernard Kroger in 1883 and currently operates over 2500 supermarkets in more than 30 states. Managing customers is top priority for this company and is much of the reason it is the top grossing supermarket chain in the country.
stores are smaller because the products are mainly grocery items. They have wide aisles and
Challenges in Today's U.S. Supermarket Industry. 2014. Challenges in Today's U.S. Supermarket Industry. [ONLINE] Available at:http://msdn.microsoft.com/en-us/library/aa479076.aspx. [Accessed 31 March 2014].
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 concept of grocery stores and supermarkets industry is an idea that has been created in order to make easier human`s life. According to the study “The Evolution of the Supermarket Industry From A&P to Wal-Mart” by Ellickson, who explains that a century ago people had to jump from one store to another store in order to get different products such as milk, meat, bread and other products. In addition, in the article “Understanding Groceries Industry” by The Reinvestment Fund, they state that back in a day the concept of grocery stores was created based on the owner`s store needs. Later on, as the development of the society and the standards of customer needs increased, the owners of the grocery stores started to be more focused on their customer needs. Also, the study of “Understanding Groceries Industry” shows that the supermarket and grocery stores industry is in their mature stage as they have developed an extensive and solid customer service.
To effectively sell a product or service, organizations have to really know how customers behave, regarding to what they buy. The study
Customer Relationships is about building a relationship of trust and convenience. A customer wants the company they are working with to be intuitive. To know their needs before they do. They want to feel respected, they need to believe you are honest and have integrity. This relationship breeds comfort and familiarity and causes the consumer to continue to do business with your company. This relationship that is built develops a personal relationship, like a friendship and it is one that the consumer cannot get from the store down the road and it is that personal touch of sincerity, of knowing their needs, of servitude that will turn them into lifelong branded customers.
As Peter Duckers has put it, "The ultimate aim of all business organisation is - to create a customer". These days, for most products and services, the market belongs to the buyer. The customers e...