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Retail Management Module 1 Notes

Retailing involves the sale of goods and services to consumers. It is a major economic force worldwide and provides many career opportunities. Retailers must consider factors like location, store layout and aesthetics, promotions, packaging, and regulations to attract customers. Online platforms and cashless payments have become more popular. Globalization allows retailers to expand internationally. Retailers are categorized based on factors such as the number of outlets, standard/optional stock lists, margins, turnover, location, and size.

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58 views2 pages

Retail Management Module 1 Notes

Retailing involves the sale of goods and services to consumers. It is a major economic force worldwide and provides many career opportunities. Retailers must consider factors like location, store layout and aesthetics, promotions, packaging, and regulations to attract customers. Online platforms and cashless payments have become more popular. Globalization allows retailers to expand internationally. Retailers are categorized based on factors such as the number of outlets, standard/optional stock lists, margins, turnover, location, and size.

Uploaded by

Frankie Cordova
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Retail Management

Module 1 Notes

RETAILING – consists of the final  The Aesthetics of the store


activities and steps needed to place catch consumers’ interest or
merchandise made elsewhere into the attention.
hands of the consumer or to provide o The Layout of the store
services to the consumer. influences the consumer’s
perception. (i.e. Ayala Mall)
 Any firm that that sells a product
or provides a service to the final
 There is now what we call
consumer is said to be performing
Scrambled Merchandise
the Retailing Function.
wherein products and services
being offered in a store are
E-commerce is the process of scrambled.
purchasing available goods and
services over the Internet using secure  Government Regulations
connections and electronic payment influence and guide how
services. businesses conduct retailing in
the market.

Retailing is a major economic force in  A good Location is key element


almost all countries and brings a in attracting customers.
significant area for career o It helps in efficient supply
opportunities. and distribution, and
influence customers’
buying habits.
Changes in Retailing:
 Customers have shifted to  Globalization allowed
Online Platforms and Cashless businesses to expand their
Payments. accessibility worldwide,
o Consumer behavior leans especially online.
towards convenience,
accessibility, and
reviews. Categorizing Retailers:
1. Census Bureau
 Packaging as a trend in retailing
is adapting an Eco-friendly turn.
 NAICS (North American
Industry Classification
 The usage of Discounts and
System) Code presents a
Promos create interest in the
list of competing
market (within a certain amount
businesses in the same
of time).
industry (i.e.
o The Mark-up to Discount
Communications –
Strategy is unethical.
SMART and GLOBE)
2. Number of Outlets 5. Size

 Refers to the number of  The sales volume differs on


chains of stores (i.e. SM the different types of stores
branches) because of the differences
 One must know the in the size of the market.
different competitors for the
specific area of each outlet. DYK? A known misconception about
sales people is that most of them did
 Standard Stock List – these not graduate. This misconception
stocks are present in all has been attributed from poor
branches employee training though retail
businesses like SM are improving
 Optional Stock List – the such matters.
availability of these stocks are
dependent on each branch

 Channel Captain – if the


channel captain is affected, all
manufacturers are affected

 Private Level Branding – i.e.


SM Bonus, Robinsons Super
Saver

3. Margin vs. Turnover

 Low-Margin / Low-Turnover
 High-Margin / Low-Turnover
 Low-Margin / High-Turnover
 High-Margin / High-Turnover

4. Location

 It is important for retailers


to choose the right location
for the right target market.

 Failure can be attributed


from poor location (i.e.
Robinsons Airport – failed
as customers preferred the
availability of near
establishments in the
downtown area).

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