Retailing is responsible for matching final consumer demand with supplies of different marketers. A good format draws more footfalls and helps retailer a platform to succeed and earn name and fame. A retail-format will be suitable for a retailer does not depend upon market practice but upon retailer’s budget, merchandise and the need of the locality. What is e-retailing Shopping … Wholesaler – deploys huge investments in warehousingand stocking of goods bought in bulk quantities from the manufacturer to sell them at a wholesale mark up i.e. Manufacturer – the one who sources raw materials, land, labor and applies his entrepreneurial skills in the production of goods. These consumers may be individual buyers or corporate. As of this date, Scribd will manage your SlideShare account and any content you may have on SlideShare, and Scribd's General Terms of Use and Privacy Policy will apply. Direct contact with the customer – Retailing involves direct contact with the end customer and are a mediator between the wholesaler and the customer or the manufacturer and the customer depending upon the distribution channels used. Shops may be located in residential areas, colony streets, community centers or in modern shopping arcades/ malls. (iii) Customer service plays a vital role in the success of retail business. Copyright 10. No public clipboards found for this slide, CEO Play2Transform | Former Chief Innovation Officer, CDO, CIO | Digital Transformation, Design Thinking | 6 Cannes Lions. 3. Privacy Policy 8. Disclaimer 9. (v) In almost all countries, retail outlets are more than any other form of business. Plagiarism Prevention 4. Experts believe that retail expansion in the coming five to seven years is expected to be stronger than our Indian GDP growth, driven by changing lifestyles and by strong income growth, which in turn will be supported by favorable demographic patterns and the extent to which organized retailers succeed in reaching lower down the income scale to reach potential consumers towards the bottom of the consumer pyramid. Given the already over-crowded agriculture sector, and the stagnating manufacturing sector, and the hard nature and relatively low wages of jobs in both, many million Indians are virtually forced into the services sector. The shopping extravaganza of the Indian middle class especially the young population for clothing, eating outside and lust for modern living styles has unleashed new possibilities for retail growth even in the rural areas. One of the principal reasons behind the explosion of retail and its fragmented nature in the country is the fact that retailing is probably the primary form of disguised unemployment/underemployment in the country. E retailing 1. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. TOS 7. Retailing is different from other forms of business in the following ways: (i) It offers direct interaction with customers/end consumers. Retailing differs from manufacturing in the following ways: There is direct end-user interaction in retailing. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. And how it is different from wholesale business? Before publishing your articles on this site, please read the following pages: 1. 3. 2. (iv) Sales promotions are offered at this point only. (ii) Sale volume is comparatively large in quantities but less in monetary value as compared to exporting/manufacturing. Marketing orientation: Retailing is a dynamic industry. E-Retailing By Manish Manghnani 2. Retailing in general sense consists of business activities that are involved in buying and selling of goods and services to ultimate consumers for their own use – ranging from Bread butter to automobiles to apparels to airline tickets. Clipping is a handy way to collect important slides you want to go back to later. This is a positive trend, and the contribution of these tier-II cities to total organized retailing sales is expected to grow to 20-25%. (vi) Location and layout are critical factors in retail business. Characteristics of Retailers: (i) A retailer is the link between a wholesaler and the ultimate consumer and he is the last intermediary in distribution. Content Guidelines 2. Now customize the name of a clipboard to store your clips. Product satisfaction and value satisfaction is essential. Looks like you’ve clipped this slide to already. Relationship with the customers –Retailers form a bond with the customers and help them decide which products and services they sho… Scribd will begin operating the SlideShare business on December 1, 2020 Use of plastic money, easy availability of consumer credit will also assist in boosting consumer demand. Retailing may be understood as the final step in the distribution of merchandise for consumption by the end consumers. In India, after agriculture, the retail is the second largest sector that provides enough employment to Indian workforce. Image Guidelines 5. (vii) It offers employment opportunity to all age groups irrespective of age and gender, qualification or religion etc. Tier-II cities are already receiving focused attention of retailers and the other smaller towns and even villages are likely to join in the coming years. While on the other hand, retail format is a blend of product range, pricing, marketing and the way the items are displayed. Introduction to Retail Marketing: Retailer is the person or institution who delivers goods to final … If you continue browsing the site, you agree to the use of cookies on this website. Thus, 85% of the retail boom which was focused only in the metros has started to infiltrate towards smaller cities and towns. 2. Characteristics of Retailing Retailing can be distinguished in various ways from other businesses such as manufacturing. The fundamental drivers of change are increasing per capita income, growing GDP, availability of consumer finance and therefore irreversible. Retailing can be differentiated from wholesaling or manufacturing because of its certain distinct characteristics which include – 1. Prohibited Content 3. The major participants in any commercial cycle are: 1. See our User Agreement and Privacy Policy. profit margin to the retailers. If you wish to opt out, please close your SlideShare account. Learn more. The aim of a retailer is to achieve maximum satisfaction by exceeding their expectations and delivering exceptional services. In the world of Trade and Commerce, a retailer purchases goods or merchandise in bulk from manufacturers directly and then sells in small quantities are known as Retail stores or shops. In fact, any organization selling merchandise to final consumers -whether a producer, wholesaler or a retailer -is doing retail business. Report a Violation, Essay on Organized Retailing in India (563 Words), Retailing: Top 9 Major Principles of Retailing. Content Filtrations 6. It keeps growing by moving retail operations … If you continue browsing the site, you agree to the use of cookies on this website. Liberalized financial and political environment in India has prompted a wave of large number of entrants into the country’s rapidly growing retail industry during the past few years, without doubt, the retail industry in India is in the throes of radical restructuring. But retailing in India is at cross roads on the one side, retail sales are making new heights year after year and on the other side, traditional Indian retailers (Kirana stores) face numerous challenges. Retailers– selling the goods bought from the man… With the spread of satellite televisions and visual media, urban life style trends have spread across the rural areas also. You can change your ad preferences anytime. See our Privacy Policy and User Agreement for details. Retailing is high intensity competition industry, The reasons for its popularity lie in its ability to provide easier access to variety of products, freedom of choice and many services to consumers… Traditional Retailing Retailing is the process of selling products or services to consumers for their non-business use. Retailing consists of selling merchandise from a permanent location (a retail store) in small quantities directly to the consumers. It does not take into account how the merchandise is being sold. Today, a vast majority of India’s young population favors branded goods. (ii) A retailer buys goods from wholesaler in bulk and resells them to consumers in small quantities. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. (iii) A retailer maintains a personal contact with his customers. To better understand the role of retail format in an economy and its significance, let us first try to understand what actually retail is? Retailing in general sense consists of business activities that are involved in buying and selling. of goods and services to ultimate consumers for their own use – ranging from Bread butter to automobiles to apparels to airline tickets.

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