It involves high annual sales and employment. The process of selling goods directly to the customers is called retail. As a major source of employment retailing offers a wide range of career opportunities including; store management, merchandising and owning a retail business. The importance of Retail industry self-established in the life of customers. Retail store location is also an important factor for the marketing team to consider while setting retail marketing strategy. What is Retail? If you are studying this course as part of a tutored programme, you should contact your Centre for further information on any changes. Poor merchandising does not drive up sales, while successful marketing does. Retailing occupies a very important place in the economics of any country. But in present times trading is replaced by buying and selling goods which makes retail stores an important part of the society. Here are some reasons: • Business location is a unique factor which the competitors cannot imitate. On the most basic level, the importance of merchandising is reflected in sales. The formalization and growing importance of retailing has made it powerful in the distribution channel.Now, retailers are compared with manufacturers which indicates the growing dominance of retailers within the supply chain. Importance of Retailing - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. It involves high annual sales and employment. Here are some reasons: • Business location is a unique factor which the competitors cannot imitate. It is the final stage of distribution of product or service. Retail Management 2 "In my whole retailing career, I have stuck to one guiding principle: give your customers what they want…and customers want everything: a wide assortment of good quality merchandise, lowest possible prices, guaranteed satisfaction with what they buy, friendly knowledgeable service, convenient hours, free parking, and a pleasant shopping Consumer is offered comfort and convenience and concession in buying goods of his choice. Similarly, in the retail industry, store image is an important component of consumer choices that can lead to loyalty (Thompson & Yat Ling, 1998). It not only contributes to country’s GDP but also empowers a large number of people by providing employment. Store image refers to what consumers think about the particular store which includes perceptions and attitudes based on the sensation of stimuli associated with the store received through the senses. Importance Of Location In Retail Business Retail store location is also an important factor for the marketing team to consider while setting retail marketing strategy. • Selection of retail location is a … Consumers benefit from retailing is that, retailers perform marketing functions that makes it possible for customers to… Retail stores must make a certain amount of money each day, week, month and year in order to stay in business. page of the text, and compare this to the version number of the latest PDF version of the text on the website. Merchandising concerns selling merchandise to generate profit. Now-a-days, retailing is characterized by large multiple chains rather than small scale independent retailers. People highly depend on retail stores to lead a comfortable life. This will be helpful in meeting the demands of the consumers by understanding their expectations. Retail business environment is changing rapidly, it is marked by the domestic retail business competition has been demanding Retail Company’s ability to improve ability to compete by offering quality service which is capable of fulfilling customers’ Organised retailing or retailing is not an activity of just a sale. Hence, it can give a strong competitive advantage. It is a marketing activity. Retailing has a tremendous impact on the economy. Marketing functions like transportation banking insurance, ware housing are undertaken to create and deliver goods to satisfaction of people.

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