Retail and Retailing Lessons

Retailing today

The world of retailing is a mystery to many people, and it is a complex world. It basically involves buying merchandise, usually from manufacturers, and reselling it to end consumers to generate a profit. Demand is created through marketing, advertising … Continue reading

The retailer’s infrastructure

So why haven’t they done this already? I think it is a case of not having the correct infrastructure. Manufacturers are set up to manufacture, make deals with retail groups and react to their orders and estimates. The retailer has … Continue reading

Types of retailers

There are a number of types of retailers, based on several factors. These factors are not mutually exclusive, and in today’s world the boundaries are rapidly becoming blurred and the characteristics of a retailer increasingly complicated and mixed. Retailers can … Continue reading

How does a buyer select a range?

The Buyers task is to select a range of merchandise, for a specific season or time period, in line with agreed parameters, including space and budgets, to be offered for sale and produce a profit for the company. Space and … Continue reading

Sourcing Direct Imports

In part 4, we looked at how stock get onto the shelves and considered the various methods by which stock is brought to market. Generally the closer to the market the buyer purchases the product, and the further up the … Continue reading

Product mix

The Buyers skill is needed to make the most of the space available to them to select a range that will satisfy and delight their consumers, and drive volume sales .There is normally more product competing for the retail space … Continue reading

Margin mix

The buyer will have a target margin to achieve for each range, based on target for the company target, and the individual range history. But it is not the mix of the range offer, but the onsale mix that is … Continue reading

Selection of domestic product

Completing Selection Before selecting, the Buyer will view all the available ranges, attend Trade Fairs, talk to suppliers, look at competitors, analyse market reports, and so will develop a good understanding of the market, its successes and trends. If they … Continue reading

The growth of online, and its effects

The growth of online has been a mixed blessing for retailers. Setting up online channels has cost retailers significant investment at a time when economies are still recovering from the global recession. Transparent and fiercely competitive pricing means that retailers … Continue reading

A look at some new concepts in retail

Multi-channel retailing? What is multi-channel retailing, or Omni channel retailing as it is sometimes called? It is a marketing strategy that offers a choice of ways for the consumer to interact with, and purchase from a company, creating a seamless … Continue reading

Delivery

The massive increase in online shopping has led to an explosion in home deliveries, and has spawned a whole new industry with problems of its own. Shoppers are looking for more convenient delivery options from their service provider. Almost half … Continue reading

Digital retail media

It seems somewhat counter intuitive for a retailer to offer other retailers the opportunity to advertise in their store, but that is effectively what many of them are considering and doing now. It could be a very lucrative opportunity for … Continue reading

Emerging trends and new retail models

Retailing is in a permanent state of flux as rapidly emerging technologies spawn new ways of buying and selling goods and services and disrupt the established retailers. We are probably all familiar with Uber and Airbnb and their disruption of … Continue reading

Retail and Retailing Conclusion

So let’s consider what we have learnt in this series. How Traditional Retailing works. We’ve looked at traditional retail, and the role of manufacturers, distributors and retailers and the part they play in getting products in front of the consumer. … Continue reading

Retail and Retailing Quiz

This quiz is designed to test your knowledge of these modules of the “Retail”  lessons in the Business Models Courses.  The 17 lessons can be seen here; Retail and Retailing Lessons You can navigate backwards and forwards to review your responses … Continue reading