characteristics of retailing ppt
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%. In fact, any organization selling merchandise to final consumers -whether a producer, wholesaler or a retailer -is doing retail business. 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. 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. 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. Product satisfaction and value satisfaction is essential. (iii) Customer service plays a vital role in the success of 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. Relationship with the customers –Retailers form a bond with the customers and help them decide which products and services they sho… Prohibited Content 3. Retailing differs from manufacturing in the following ways: There is direct end-user interaction in retailing. See our Privacy Policy and User Agreement for details. 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. Copyright 10. Traditional Retailing Retailing is the process of selling products or services to consumers for their non-business use. E retailing 1. 2. No public clipboards found for this slide, CEO Play2Transform | Former Chief Innovation Officer, CDO, CIO | Digital Transformation, Design Thinking | 6 Cannes Lions. 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. (iv) Sales promotions are offered at this point only. of goods and services to ultimate consumers for their own use – ranging from Bread butter to automobiles to apparels to airline tickets. Scribd will begin operating the SlideShare business on December 1, 2020 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… Report a Violation, Essay on Organized Retailing in India (563 Words), Retailing: Top 9 Major Principles of Retailing. If you continue browsing the site, you agree to the use of cookies on this website. 3. profit margin to the retailers. 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. Use of plastic money, easy availability of consumer credit will also assist in boosting consumer demand. (v) In almost all countries, retail outlets are more than any other form of business. Shops may be located in residential areas, colony streets, community centers or in modern shopping arcades/ malls. 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. See our User Agreement and Privacy Policy. It does not take into account how the merchandise is being sold. Looks like you’ve clipped this slide to already. Before publishing your articles on this site, please read the following pages: 1. The fundamental drivers of change are increasing per capita income, growing GDP, availability of consumer finance and therefore irreversible. Retailing is different from other forms of business in the following ways: (i) It offers direct interaction with customers/end consumers. 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. Retailers– selling the goods bought from the man… (iii) A retailer maintains a personal contact with his customers. Content Filtrations 6. It keeps growing by moving retail operations … 3. Clipping is a handy way to collect important slides you want to go back to later. Characteristics of Retailing Retailing can be distinguished in various ways from other businesses such as manufacturing. And how it is different from wholesale business? Introduction to Retail Marketing: Retailer is the person or institution who delivers goods to final … TOS 7. Marketing orientation: Retailing is a dynamic industry. What is e-retailing Shopping … If you continue browsing the site, you agree to the use of cookies on this website. 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. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. 2. 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. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. The aim of a retailer is to achieve maximum satisfaction by exceeding their expectations and delivering exceptional services. (vii) It offers employment opportunity to all age groups irrespective of age and gender, qualification or religion etc. Today, a vast majority of India’s young population favors branded goods. Image Guidelines 5. A good format draws more footfalls and helps retailer a platform to succeed and earn name and fame. Manufacturer – the one who sources raw materials, land, labor and applies his entrepreneurial skills in the production of goods. Thus, 85% of the retail boom which was focused only in the metros has started to infiltrate towards smaller cities and towns. 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. Privacy Policy 8. (ii) Sale volume is comparatively large in quantities but less in monetary value as compared to exporting/manufacturing. With the spread of satellite televisions and visual media, urban life style trends have spread across the rural areas also. The major participants in any commercial cycle are: 1. (ii) A retailer buys goods from wholesaler in bulk and resells them to consumers in small quantities. If you wish to opt out, please close your SlideShare account. Now customize the name of a clipboard to store your clips. While on the other hand, retail format is a blend of product range, pricing, marketing and the way the items are displayed. To better understand the role of retail format in an economy and its significance, let us first try to understand what actually retail is? (vi) Location and layout are critical factors in retail business. 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. You can change your ad preferences anytime. In India, after agriculture, the retail is the second largest sector that provides enough employment to Indian workforce.
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