Retail Management

Store Positioning in Retail Management

Attracting the customers is the crux of the issue of retail trade. How and where the store is positioned on the site affects the retailer’s ability to attract the customers. Therefore in evaluating the existing store facilities or planning future site layouts, the retailer should answer effectively and satisfactorily these three questions. These are:

  1. How visible is the store?
  2. Is the store compatible with its surroundings?  
  3. Are store facilities placed for customer convenience ?
1.  Ensuring the Store Visibility

The customers must see the store if the retailer wants to achieve the goals of stopping, attracting and inviting the customers.… Read the rest

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Retail Store Environment

Environment is something that stands for an atmosphere which is external to the retail organisation. Retail store is a subsystem of a supra-system namely, environment because retail units cannot exist in vacuum. In selecting and developing a retail store environment, the retailer must consider its physical and psychological impacts on customer attraction, employee moral and store’s operations. Store’s operations and consumer shopping are both enhanced by a well planned and creatively designed setting. It is a mad, mad-world where ad, ad plays very important role. To appeal to the fashion conscious, hedonistic and up-scaled shopper, the store must create a theatrical environment enhanced by  colorful  displays and high-tech lighting and audio presentations.… Read the rest

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Key Elements of Retail Displays

A retailer must carefully consider and plan each element of retail displays.  Display elements include the merchandise, shelf display areas or window displays, props, colors, background materials, lighting and signs. The retailer is to compare contrast, repetition, motion, harmony, balance, rhythm and proportion of each display to draw the consumer’s attention to it.

Display elements must be evaluated to determine how well and if they attract and hold the attention of the passersby. “Contrast” is one way to attract attention. Contrast is achieved by using different  colors, lighting, form i.e., size and shape, lettering or textures. “Repetition” attracts consumer attention by duplicating an object to reinforce and strengthen the impression.… Read the rest

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Concept of Retail Store Displays

Displays are  the terminal part of the retail store’s interior. Advertising does attract the consumers to the store. However, visual displays have much more to play once the customer gets into the store. Retail store displays are non-personal, in-store presentations and exhibitions of merchandise together with related information. In actual practice, retail store displays are used to:

  1. Maximize  product exposure.
  2. To enhance product appearance.
  3. To stimulate product interest.
  4. To exhibit product information.
  5. To facilitate sales transactions.
  6. To ensure product security.
  7. To provide product storage.
  8. To remind customers of planned purchases.
  9. To generate additional sales of impulse items and
  10. To improve the image and prestige of a retailer.
… Read the rest
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Golden Rules for Building Retail Displays

It goes without saying that the displays play very significant role in retailing and retail outlet. An attractive and informative displays can help in large volume of sales in terms of goods and services.

In building a retail display, some fundamental rules should be followed to get best out of these where good deal of treasure, talent and time is involved on the part of retailer. This  golden rules are:

1. Achieve Balance

It is important to make sure that the display appears balanced to the viewer, in building display. This is achieved by arranging products and props in a particular way.… Read the rest

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Unit Planning and Merchandise Lists

Unit planning is an operational management tool to plan the merchandise assortment and support. It is directed at determining the amount of inventory the retailer should carry by items and by units and answers the inventory questions of how many product items or assortment and how many units of each items or support to stock. The process of unit planning involves the use of several merchandise lists which constitute a set of operational plans for   managing the total selection of merchandise. Based on the type of merchandise, the retailer carries, one or more of the following three merchandise lists namely, Basic Stock list, Model stock list and Never-out list.  … Read the rest

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