Beruflich Dokumente
Kultur Dokumente
Most crucial element of Retail Mix Location is a major cost factor because it : i. involves large capital investment ii. affects transportation costs iii. affects human resources cost Location is a major revenue factor because it : i. affects the amount of customer traffic ii. affects the volume of business
- selection of a city - selection of an area or type of location within a city - identification of a specific site
Selection of city
Size of citys trading area Population and growth trends Purchasing power and its distribution Trade potential Number, size & quality of competition Development cost Operating costs
Occupancy cost of location Qualitative and quantitative nature of competition Availability of access routes, traffic
Nature of Zoning regulation Restrictions placed on store operations by property managers Index of retail saturation
Retail catchment area is the sphere of influence around a retail attraction from which the retailer is likely to draw customer.
A customer spot map is an accumulation of dots placed on a map of the catchment area, based on the number of customers in a given geographic location.
Site selection
Site characteristics
Parking spaces Access to store entrance and exit Visibility of store from street Access for deliveries Size and shape of store Condition of building Adjacent retailers
Costs
Rental fee Common area maintenance cost Local taxes Advertising and promotion fees Length of lease
Restrictions
Zoning Signage Restrictions on tenant mix Safety code restrictions
competitors location
ease of traffic flow and accessibility parking and major thoroughfares market trends visibility
Implement retailers strategy Build loyalty Increase sales on visits Control costs
Store layout
Grid layout
Utilitarian benefits-locate product easily Cost efficient- more merchandise; low cost standardised fixtures Limitation-low visibility
Facilitates exposure to more merchandise Wider aisles for convenience Assymetric pattern Relaxing environment
Racetrack
Free form
Help in locating products, provide information and reinforce stores image Types of signages
Category signage Promotional signage Point of sale signage Digital signages
Feature areas
Windows Entrances Freestanding displays End caps Promotional aisles/area Walls Dressing rooms POP counters/checkout areas
Space management
Visual merchandising
VM is the presentation of a store and its merchandise in a way that will attract attention of customers Fixtures Presentation techniques
Idea oriented Item and size Color Price lining Tonnage merchandising
Merchandising decisions
Merchandise management is the process by which a retailer attempts to offer the right quantity of right merchandise in right place at right time and meet companys financial goals Merchandise category- an assortment of items that customer see as substitutes for one another Category management
Forecast category sales Develop assortment plan Determine appropriate inventory level and product availability Develop a plan for managing inventory Allocate merchandise for stores Buy merchandise Monitor and evaluate performance and make adjustments
Customer service
Customer service is the set of activities and programs undertaken by retailers to make the shopping experience more rewarding
Services offered
Accepting credit cards Alterations Child care facilities Delivery Demonstration and display Trial rooms Extended store hours Easy returns Facilities for shoppers with special needs
Gift wrapping Customisation Information about availabilty of products Parking Repair Shopping carts Valet parking