As a major source of employment retailing offers a wide range of career opportunities including; store management, merchandising and owning a retail business. Right from accessibility to convenience, retail has different levels of importance in the life of the customer. Hence, it can give a strong competitive advantage. As a major source of employment retailing offers a wide range of career opportunities including; store management, merchandising and owning a retail business. It involves high annual sales and employment. Retailing is an integral part of modern society. 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. Here are some reasons: • Business location is a unique factor which the competitors cannot imitate. If you are studying this course as part of a tutored programme, you should contact your Centre for further information on any changes. Retailing has a tremendous impact on the economy. The importance of Retail industry self-established in the life of customers. Retail stores must make a certain amount of money each day, week, month and year in order to stay in business. Poor merchandising does not drive up sales, while successful marketing does. What is Retail? This will be helpful in meeting the demands of the consumers by understanding their expectations. It is the final stage of distribution of product or service. Retail store location is also an important factor for the marketing team to consider while setting retail marketing strategy. Consumers benefit from retailing is that, retailers perform marketing functions that makes it possible for customers to… The process of selling goods directly to the customers is called retail. The retail fraternity should give importance to the cultural differences and also the differences in the values, beliefs, and faith of people while formulating their marketing strategies and business development plans. in the past time, goods and service were made available through the process of trading.. 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 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. Now-a-days, retailing is characterized by large multiple chains rather than small scale independent retailers. On the most basic level, the importance of merchandising is reflected in sales. Marketing functions like transportation banking insurance, ware housing are undertaken to create and deliver goods to satisfaction of people. • Selection of retail location is a … Merchandising concerns selling merchandise to generate profit. But in present times trading is replaced by buying and selling goods which makes retail stores an important part of the society. Similarly, in the retail industry, store image is an important component of consumer choices that can lead to loyalty (Thompson & Yat Ling, 1998). page of the text, and compare this to the version number of the latest PDF version of the text on the website. Consumer is offered comfort and convenience and concession in buying goods of his choice. The sale of products generates this revenue. Retailing occupies a very important place in the economics of any country. Retail Management starts with understanding the term 'Retail'. 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’ Here are some reasons: • Business location is a unique factor which the competitors cannot imitate. Organised retailing or retailing is not an activity of just a sale. Importance of Retailing - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. 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. People highly depend on retail stores to lead a comfortable life.

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