1. Pre-work Assignment
Retail management is the process of promoting greater sales and customer satisfaction by gaining a better understanding of customer needs and requirements.
The aim of Retail management is to maximize profits while minimizing costs while remaining sustainable.
2. Introduction
Retailers who promote product quality, transparency and sustainability will be more successful.
Consumers are becoming more interested and invested in where their money’s going rather than simply what it’s buying, which means it’s not enough anymore to sell high-quality products with no information on their backstories.
The Postnet franchise program was launched in July 1993 in the US with over 660 locations across 9 countries.
…show more content…
The quality of digital printing has soared while the prices have dropped, making digital printing more affordable for small businesses while also delivering professional-looking results. Small businesses are taking advantage of the new ability to create marketing materials that rival their Fortune 500 competitors.
PostNet offers its customers a wide range of digital printing solutions whether they need signs and banners, brochures, reports, trade show displays, letterhead, catalogues, door hangers, a vehicle wrap, or just about anything else. PostNet also offers its customers something even more valuable: advice and expertise.
Postnet is a consistent innovator for its customers and take pride their customer solutions integration technology and is committed to become a technology-based enterprise that will continue to leverage innovative technologies to enhance the business.
ii. Mobile shopping continues to grow
“In 2017, it is estimated, there will be over 16 million active smartphone users in South
…show more content…
Attracting and retaining talent is critical
The need to attract, retain and develop a workforce that meets the growing needs of the marketplace is more vital than ever.
To successfully attract and retain talent, the business must understand the current work culture, build career entrepreneurship, create a flexible work environment and understand and embrace diversity. vi. Mobile payment solutions
“The future of mobile payments is here. It is just not evenly distributed” (Gibson, ……)
Mobile payment solutions are becoming increasingly popular as customers can now experience something new and exciting that is faster than normal check out till points. It is the “cool” way of transacting.
vii. “Same-day shipping, apps, services and third parties will become more prominent to fulfill the needs of modern shoppers” (Stocker, 2014)
Customers have become ever more demanding when it comes to service, experience and delivery of their purchases. Consumers want their goods delivered to their doorstep in the fastest and most convenient and effective way possible.
viii. Investing in Omni-channel
The mulita channel sales approach provides the customer with a seamless integrated shopping
...s. Any business, regardless of industry, would love to have a workforce that is dedicated to its profession and strives to continually improve.
Organizations with effective recruiting and selection result in positive outcomes that affects the products and services, and the perception of the organization. Having the right people for the job will increase profits and decrease costly turnovers. Even though organizations are operating in uncertain times, focusing on staying committed, and making certain they have the best talent will ensure future success. The bottom line of the organization will be impacted by setting a clear direction that employees can get behind, and making sure the right people are hired for the right
By the end of the second quarter we would like to give our customers the option of same day delivery. We believe that this will give us a competitive advantage over our competition.
In addition to the change in behavior of consumer, many companies or retailers change the sales channel combinations. The greatest impact of the Web-bases electronic revolution has occurred in companies adopting the click-and-mortar approach. Click- and-mortar is one the strategy used by the companies or retailers that they continue to conduct their business in the physical locations and have added the electronic commerce component to their business activities. According to one study, 37% of United States retailers are selling through a combination of the internet, in stores and catalogs. This represents a growing demand for the business-to-customer package delivery service.
Levy, Michael, Barton A. Weitz, and Dhruv Grewal. Retailing Management. ed. New York, NY: McGraw-Hill Education, 2014. Print.
As we can see now-a-days, there are many replacements to card payments such as MOBILE PAYMENT options like Apple and Samsung Pay. Recently, Apple has launched finger print (TOUCH ID) payment option in its new Mac-book Pro. Almost every application has its own wallet to pay. But still, as we know that technology is any day not secured. It might not be vulnerable today. But, we cannot predict its non-vulnerability because one day or the other, it becomes vulnerable to any type of attack.
getting compromised. This technology is going to extend beyond just Apple Pay; it will be a
...(Boulton, 1999). Considering new developments in technology and particularly e-commerce, UPS recognized that this model would not sustain them in the twenty-first century. The customer driven pull-model entailed a non-linear process, and the new supply chain “[involved] each participant scrambling to establish direct electronic connections to the party who pays – the end customer” (Boulton, 1999). This has ultimately allowed customers to have a direct voice in the supply chain, and UPS has been better able to serve is customers since this transition. A few benefits of this model have been a much more efficient supply chain, fewer inventories, faster service, lower costs and better customer response (Boulton, 1999). UPS’s ability to identify the high value of focusing on the customer through their supply chain choices has allowed them to achieve unparalleled success.
The Retail industry includes establishments selling merchandise and offering services related to the sale of goods. Retailers sell goods to the end consumer. The retail sector consists of two main types: store and nonstore retailer.
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.
Digital wallets are quickly becoming mainstream mode of online payment. Shoppers are adopting digital wallets at an incredibly rapid pace, largely due to convenience and ease of use. Tech -savvy shoppers are increasingly demanding seamless, Omni-channel retail experiences and looking for solutions that deliver this. There’s no question 2017 will be a pivotal year as digital wallets gain more widespread acceptance.
Digital money is undeniably convenient; anyone who has used a credit or debit card understands this. However, the era of digital money is only beginning; rapid technological advances will continue to make paper money a remnant of the past. Several innovations are already lessening the burden in your wallet. For instance, the seemingly innocuous mobile phone is actually playing an increasing role in facilitating monetary transactions, especially in Asia. Already, in Japan, large companies such as Coca-Cola have sanctioned vending machines that are not only compatible with common cell phones but also allow consumers to earn credits for using them (Kupetz). In this regard, the United States is strikingly behind the times when compared to other countries. Another new technology in the vein of mobile phones is no-contact cards. These innovative cards do not require a cashier to conduct a transaction; one simply holds a specia...
In conclusion, no doubt the workforce will be a valuable asset if it is managed correctly and the opposite when it is not being pinpointed.
The use of credit and debit cards today are taking a tour in the sense that electronic cash is becoming more admissible as the world makes a switch towar...
A cashless society will further improve the globalisation that characterise our present time. The computerised systems can be used to decrease the quantity of paper trail therefore substituting paper cash with cashless credits or electronic money transfers. However, in a cashless economy, this will change with certain crimes almost eradicated. It will also be faster to generate electronic payments than cash as Near Field Communications (NFC) chips make their way into more payments cards and mobile handsets as well providing protection not applicable to purchases made using cash. This technology is simple with low power wireless link evolved from radio-frequency identification (RFID) tech that can transfer small amounts of data between two devices identifying us and our bank account to a computer. Another benefit of drawing nearer to a cashless society is that other companies are providing pioneering cash-free solutions to the payment related problems we come across. For example, WisePay, a provider of e-payments services, is deploying technologies that ensure parents no longer have to worry about sending their children to school with cash to pay for meals, excursions and other fees that will eliminate the likelihood of being caught short for cash or children misplacing money. The Government also has valuable explanations why they may deem to turn away from cash. Due the main factor of printing and distributing cash, not to mention ensuring the economy is free from forgeries which are all costly endeavours estimating that the cost to society of using cash is between 0.5 and 1.5% of GDP annually. In addition, there are many technological innovations that propose there is a real enthusiasm for an alternative to cash with the upsurge...