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Chapter 10, channel institutions - Retailing. After studying this chapter you will be able: Understand what retailing is all about; global retail scene and trends; indian retail scene and trends; types of retailers; trade and retail formats, trading area; retail management strategies and operations; measuring retail performance; franchising and e-tailing; FDI in retail in India. | Chapter 10 Channel Institutions - Retailing SDM- Ch 10 Tata McGraw Hill Publishing Learning Objectives Understand what retailing is all about Global retail scene and trends Indian retail scene and trends Types of retailers Trade and retail formats, trading area Retail management strategies and operations Measuring retail performance Franchising and e-tailing FDI in retail in India SDM- Ch 10 Tata McGraw Hill Publishing What is Retailing? Any business entity selling to consumers directly is retailing – in a shop, in person, by mail, on the internet, telephone or a vending machine Retail also has a life cycle – newer forms of retail come to replace the older ones – the corner grocer may change to a supermarket Includes all activities involved in selling or renting products or services to consumers for their home or personal consumption SDM- Ch 10 Tata McGraw Hill Publishing Retailing Term retail derived from French word ‘retaillier’ meaning ‘to break bulk’ Characteristics: . | Chapter 10 Channel Institutions - Retailing SDM- Ch 10 Tata McGraw Hill Publishing Learning Objectives Understand what retailing is all about Global retail scene and trends Indian retail scene and trends Types of retailers Trade and retail formats, trading area Retail management strategies and operations Measuring retail performance Franchising and e-tailing FDI in retail in India SDM- Ch 10 Tata McGraw Hill Publishing What is Retailing? Any business entity selling to consumers directly is retailing – in a shop, in person, by mail, on the internet, telephone or a vending machine Retail also has a life cycle – newer forms of retail come to replace the older ones – the corner grocer may change to a supermarket Includes all activities involved in selling or renting products or services to consumers for their home or personal consumption SDM- Ch 10 Tata McGraw Hill Publishing Retailing Term retail derived from French word ‘retaillier’ meaning ‘to break bulk’ Characteristics: Order sizes tend to be small but many Caters to a wide variety of customers. Keeps a large assortment of goods Lot of buying in the outlet is ‘impulse’- inventory management is critical Selling personnel and displays are important elements of the selling process Strengths in ‘availability’ and ‘visibility’ Targeted customer mix decides the marketing mix of the retailer SDM- Ch 10 Tata McGraw Hill Publishing Retailing Retail stores are independent of the producers – not attached to any of them A survey shows that only 35% of supermarket purchases are pre-planned. The rest are ‘impulse’- greatly influenced by quality of the merchandising efforts SDM- Ch 10 Tata McGraw Hill Publishing Functions of Retailers Marketing functions to provide consumers a wide variety Helps create time, place and possession utilities May add form utility (alteration of a trouser bought by a customer) Helps create an ‘image’ for the products he sells SDM- Ch 10 Tata McGraw Hill Publishing Functions of
