Electronic retailing is the sale of goods and services through the internet. Sales volume has increased as well as the number of employees in this sphere. Jan 27, 2017 electronic retailing e tailing is a buzzword for any businesstoconsumer b2c transactions that take place over the internet. In order to understand the key role played by visual merchandising in retailing one has to look at the whole scenario with a macro view i.
Understand how the role of the manager impacts the success of a retail business. Miller center for retailing education and research page 14 category management survey1 subjects 40 retailers in 18 provinces and cities 62007 32 out of 40 retailers conducted category management category assortments became more reasonable out of stock decreased inventory level decreased, and sales increased. The items are arranged in order by the retailers so that the customers are able to locate and pick up their needed goods easily. But before we move on to elaborating retail definition or its concept, you should be clear of these two terminologies. As a result of the analyses of different opinions about the matter, we think that the main function of retailing is delivering of the product through. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Any business entity which sells goods to the end user and not for business use or for resale, whether it is a manufacturer, wholesaler or retailer, are said to be engaged in the process of retailing, irrespective of the manner in which goods are sold. Therefore, it is responsible for the performance of several important marketing functions. Retailing provides a clear and comprehensive introduction to the contemporary issues in retailing. It also introduces you to visual merchandising, retail marketing mix, and etailing.
Understand the areas of accountability for retail management. Functions of retailing retailing functions and meaning. Retailing is a fastpaced, exciting and essential service industry that employs a high proportion of the working population. It is responsible for matching individual demands of the consumer with supplies of all the manufacturers. Bringing about operational efficiency at this last stage and making an environment so compelling. A retailer purchases goods or productsin large quantitiesfrom manufacturers. Functions within the marketing channel are traditionally carried out by. In this way, he performs the twin functions of buying and assembling of goods. This dual role is both the justification for retailing and the key to success in. In this context, they perform various functions like sorting. It encompasses sale of goods and services from a point of purchase to the.
Characteristics, functions and services of a retailer. Retail logistics meaning functions of retail logistics system. Retailing in india influencing factors present indian retail scenario. Organised retailing or retailing is not an activity of just a sale. A fourth factor for students of retailing is the broad. Human resource management in organized retail industry in. Types and functions of retail banking consumer banking. Consumer is offered comfort and convenience and concession in buying goods of his choice. Retailing is about displaying products, describing the features and benefits of products, stocking products, processing payments and doing whatever it takes to get the right products at the right price to the right customers at the right time. If youre looking for a free download links of retailing pdf, epub, docx and torrent then this site is not for you.
The functions and features of retailing marketing essay. If you are trying to run an ecommerce store and maintain a profitable storefront, there are certain functions youd expect your ecommerce solution to perform for you. Types and functions of retail banking consumer banking in india. Wholesaling assumes many functions in a distribution channel. Functions of retailing retailers play a significant role as a conduit between manufacturers, wholesalers, suppliers and consumers. List of topics covered in bba retail management pdf notes and ebook. In order to understand the importance of distribution channels, you need to understand that it doesnt just bridge the gap between the producer of a product and its user.
Show full abstract retailing plays an important role along with some other factors. While retail banking in different forms has existed for a long time, it is a relatively new concept. Pwc retailing in the digital era 1 retailing in the digital era. Retailing concepts, retail operations types, retailing. The article tries to highlight the features of retailing and its importance for the wealth of a nation. Some retailers offer additional services to the retail transaction like personal shopping. What are the kinds of marketing channel functions a marketing channel, commonly called a distribution channel, is an interconnected system of businesses that collaborate to get a product from initial manufacturing to sale to the end customer.
Introduction to retailing functions of retailing types of retailing forms of retailing based on ownership. Retail marketing functions of retailers the term retailing is derived from the french word retailer which means a piece of or to cut up. Retailing constitutes the final link in the distributive chain. Often retailing is being thought of as the sale of products in the stores, but retailing also involves the sales of services. The increased product variety in stores has forced the retailer to follow an effective logistics system. The retailers perform the functions of warehousing and storing. Companies like amazon and dell created the online retail industry by putting the entire customer experience from browsing products to placing orders to paying for. Bharathi on retailing concepts as reatiling is a comfortable method of selling goods and services as retail industry, one of. Retailers are part of an integratedsystem called the supply chain. Retailers break up large quantities into smaller units such as individual canes, bottles, packets, appropriate for consumer use. Introduction pg2 analytics for improving customer experience pg4 helping the retail marketer through analytics pg7 using analytics to streamline supply chain pg9 challenges and prerequisites for success pg12 conclusion pg14 our logo expresses who we are, and symbolises our. Retailing is the set of business activities that adds value to the product and services sold to the consumers for their personal or family use. Lesson 1 an overview of retailing introduction the word retail is derived from a french word with the prefix re and the verb tailer meaning to cut again. In this context, they perform various functions like sorting, breaking bulk, holding stock, as a channel of communication, storage, advertising, and certain additional services.
The paper explain the concept of retailing, its functions and its place in a national economy. Functions of retailing is various parties to the production and distribution of goods play a pivotal role in any economy keeping the robust volume of trade and commerce flowing through the market, leading a nation to prosperity. In the last two lessons, we have seen the meaning of retailing, functions and. Retailing plays an important role in the development of georgias economy. Retailing is a distribution process, in which all the activities involved in selling the merchandise directly to the final consumer i. It is not limited to quantities but to the exact requirement of last user.
Human resource management in organized retail industry in india 493 remaining 92 percent is left unorganized and within the organized sector, apparel is the largest segment while food and grocery and mobile and telecom are the other major contributors to this. Distribution channels provide time, place, and ownership utility. Retail management i about the tutorial retail management is an activity of selling products or services to their endusers. Several intermediaries or middlemen are involved in this process and the retailers. Retail theories wheel of retailing retail life cycle. Designed specifically for advanced undergraduates and postgraduate students of retailing, the text seeks to offer an accessible and up to date look at retailing. Retail management 2 in my whole retailing career, i have stuck to one guiding principle. Become familiar with how the retail industry works. Retailer implies any organization, whose maximum part of revenue comes from retailing. This is not a traditional textbook or collection of case studies, but is intended to demonstrate the complex and manifold questions of retail management in the form of 18 lessons that provide a thematic overview of key issues and illustrate them with the help of comprehensive case.
Apr 27, 2016 the essence of retailing is expressed in its functions, so if the functions are completed properly, the tasks of retailing are usually successfully solved. Marketing functions like transportation banking insurance, ware housing are undertaken to create and deliver goods to satisfaction of people. A retailer buys a wide variety of goods from different wholesalers after estimating customer demand. Miller center for retailing education and research page 14 category management survey1 subjects 40 retailers in 18 provinces and cities 62007 32 out of 40 retailers conducted category management category assortments became more reasonable outofstock decreased inventory level decreased, and sales increased. Retailing definition of retailing by merriamwebster. The essence of retailing is expressed in its functions, so if the functions are completed properly, the tasks of. Retailing is concerned with selling of goods only to the final consumers. This article provides an introductory overview of the key characteristics of a retailer, the functions performed by a retailer in todays competitive world and services offered by a retailer to the customers as well as wholesalers. Retailing is the last link in the supply chain that delivers goods to the final consumers. Functions of retailingfrom the customer point of view, the retailer serves him by providing the goods that he needs in. This tutorial introduces you to various concerns of retail business such as retail marketing, space management, and retail operations. They store the goods in bulk and make them available as per the requirement of the consumer.
This implies the breaking of bulk quantities of the retailer. Electronic retailing e tailing is a buzzword for any businesstoconsumer b2c transactions that take place over the internet. This includes different types of retail stores like department stores, speciality stores, supermarkets, convenience stores, catalogue showrooms, drug stores, superstores, discount stores, extreme value stores etc. Retailing is a convenient, convincing and comfortable method of selling goods and services. Retailing is a part of manufacturers overall distribution strategy.
Wholesaling is the buyinghandling of products and services and their subsequent resale to institutional users and in some cases to final consumers. Edinburgh business school principles of retailing ix preface the principles of retailing distancelearning programme is based on the book principles of retailing, published in 2003 by elsevier. The items are arranged in order by the retailers so that the customers are able to locate and pick up their needed. Retail management is the process of bringing the ultimate user to the main producer through a series of stages where retailing is the last one.
A retailer purchases goods or productsin large quantitiesfrom manufacturers directly or through awholesale. Functions of retailingfrom the customer point of view, the retailer serves him by providing the goods that he needs in the requiredassortment, at the required place and time. In this chapter, the tasks of retailers within the distribution channel are explained and recent trends concerning these functions are discussed. Evidently, retail trade is one that cuts off smaller portions from large lumps of goods. Retailing is defined as a set of activities or steps used to sell a product or a service to consumers for their personal or family use. Electronic retailing, or etailing, can include businesstobusiness b2b and. Here are the types of retailing that exists today store retailing. Retailing has become such an intrinsic part of our everyday lives that it is often taken for granted.
Over the period of time, it has emerged as an important component of traditional and modern banking systems and an important market segment. Every retail store has its own line of merchandise to offer to the customers. Wholesaling assumes many functions in a distribution channel, particularly those in the sorting process. It is a process through which goods are transported to final consumers. Generally, retailers are involved in the following functions. Retail merchandising refers to the various activities which contribute to the sale of products to the consumers for their end use. Retail is the final channel of distribution where small quantities of goods or services are sold directly to the consumer for their own use. Retailing goes as back as time goes and the best part of it is that the concept of retailing hasnt changed for centuries. Bba retail management pdf notes, ebook free download. Sep 11, 2010 functions of retailing retailers play a significant role as a conduit between manufacturers, wholesalers, suppliers and consumers. In this context, they perform various functions like sorting, breaking bulk, holding stock, as a channel of communication, storage, advertising and certain additional services. The display of the merchandise plays an important role in attracting the customers into the store and prompting them to purchase as well. Retailing definition is the activities involved in the selling of goods to ultimate consumers for personal or household consumption.
Retail trade performs many valuable functions for the trade and commerce as a whole. Retailing, though as old as business, trade and commerce has now taken new forms and shapes. Joachim zentesdirk morschetthanna schrammklein strategic retail management text and international cases. As a research methodology, i used the analysis of the definitions given by national and foreign specialists and comparison between them. Consumers benefit from retailing is that, retailers perform marketing functions that makes it possible for customers to. The essence of retailing is expressed in its functions, so if the functions are completed properly, the tasks of retailing are usually successfully solved.