RM - Module 3
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Transcript of RM - Module 3
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RETAIL MANAGEMENT
MODULE -3RETAILING STRATEGY FOR Setting up A et!i"
#g!ni$!ti#n AND %LANNING
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Ret!i" M!&et St!teg'
St!teg' i$ ! p"!n( ! )#*( ! +e!n$#, getting ,#+ )ee t# t)ee
St!teg' i$ ! pe$pe.tie( p#$iti#n(p"!n !n !.ti#n
St!teg' i$ ! gene!" ,!+e*#& t)!t
p#ie$ gui!n.e ,# !.ti#n$ t# et!&en !n( !t t)e $!+e ti+e ( i$$)!pe ' t)e !.ti#n$ t!&en
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Ret!i" St!tegie$
Important strategic decisions ofa retailer:
Store location
Merchandising
Pricing
Marketing
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Steps in Strategy Building:Dene t)e +i$$i#n # t)e pup#$e #,
t)e #g!ni$!ti#n
#nu.t ! $itu!ti#n !n!"'$e$Ienti,'ing #pti#n$/$t!tegi.!"ten!tie$
Set Oe.tie$
Ot!in !n !""#.!te e$#u.e$Dee"#p t)e $t!tegi. p"!n
I+p"e+ent t)e $t!teg'( e!"u!te !n
.#nt#"
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Financial Strategy:
Fin!n.i!" !n!"'$i$ +u$t e .!ie #utIt en!"e$ et!i"e$ pe,#+!n.e
It )e"p$ t# +#nit# pe,#+!n.e !n t#
e$t!"i$) .#nt#"Funing Ret!i" 5entue$
App#!.)ing n!n.e .#+p!nie$ #!n&$
%i!te e7uit' ,uning
F!n.)i$ing
Supp"ie eit
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)#i.e #, et!i" "#.!ti#n$
Re$e!.) #n $t#e "#.!ti#n $t!te !,te 8#" *!I
L#.!ti#n #, t)e et!i" #ut"et i$ !n i+p#t!nt ,!.t#
)!nge !,te "#.!ting ! $t#e 9 .#+p"e:
L#$$ #, .u$t#+e$ ; e+p"#'ee$
Ne* "#.!ti#n 9 *i"" n#t enet !$ t)e e!"ie #ne
L#.!ti#n i$ !n integ!" p!t #, t)e et!i" $t!teg'
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T'pe$ #, et!i" "#.!ti#n$
Depen$ #n t)e t!get !uien.e ; &in #,+e.)!ni$e
Eg L#.!ti#n #, ! .#nenien.e $t#e *i"" n#t $uit! $pe.i!"t' $t#e
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Fee St!ning "#.!ti#n
L#.!te !"#ng ! +!# t!?. !te'
N# .#+petitie et!i"e$ !#un
Rent$ 9 "#*
F!.i"itie$ 9 "i&e p!&ing i$ !+p"e
Aeti$e+ent .#$t 9 )ig)
T!e"ing ti+e( Di$t!n.e( Fue" .#$t 9 et!i"e$)#u" .#n$ie e,#e $e"e.ting "#.!ti#n
!t.)+ent !e! e.i$i#n$ 9 !..#ing t# t)e*i""ingne$$ #, t)e .u$t#+e$ t# t!e"
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%!t #, ! u$ine$$ i$ti.t
%"!.e #, .#++e.e/ .ente #, t!e in t)e .it' # t#*n
T)ee t'pe$ 9 .ent!"( $e.#n!'( neig)#)## u$ine$$
i$ti.t
ent!" 9 +!in .ente #, .#++e.e !n t!e
Se.#n!' 9 e#"e #e ! pei# #, ti+e *it) t)e$pe! #, p#pu"!ti#n in .it'
Neig)#)## 9 Unp"!nne $)#pping !e! 9 t# $ee t)e
nee$ #, neig)#)##
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%!t #, ! $)#pping .ente
G#up #, et!i" !n #t)e .#++e.i!"e$t!"i$)+ent$ t)!t i$ p"!nne(ee"#pe( #*ne !n +!n!ge !$ $ing"e
p#pet'
M!"" # ! $tip .ente
Eg @##&e e"$ #i+!t#e
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Strip Centre
Mall
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Step$ in#"e in .)##$ing !et!i" "#.!ti#n
M!' e ! n#n $'$te+!ti. p#.e$$ !$e #n gut,ee"ing( # eni#n+ent!" #$e!ti#n # !ni+it!ti#n #, .#+petit#$
M!' e S'$te+!ti. %#.e$$ 9 !$e #n .et!inp!!+ete$ ; $tep$ t# e ,#""#*e
Ienti,' t)e M!&et E!"u!te t)e e+!n !n $upp"'
Ienti,' t)e +#$t !tt!.tie $ite$
Se"e.t t)e e$t $ite$ !!i"!"e
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M!&et Ienti.!ti#n
Nee$ #, pe#p"e ie $pe.i!""' in Ini! 9+!&ete )!$ t# ienti,' t)e +!&et$!tt!.tie t# et!i"ing
)!!.tei$ti.$ #, +!&et #, Eu#peie$ ,#+ !$ t)!t #, A$i! !n A,i.!
5!i#u$ $#.i!" t)e#i$t$ pe$entet)e#ie$ !$e #n t)e .#n.ept #, G!it'
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Dete+ining T)e +!&etp#tenti!"
De+#g!p)i. ,e!tue$ #, t)e p#pu"!ti#n
SiBe( u!"( u!n p#pu"!ti#n( "ite!.' !n eu.!ti#n "ee"$
)!!.tei$ti.$ #, t)e )#u$e)#"$ in t)e !e!
C#u$e )#" In.#+e 9 "#* in.#+e 9 "#.!" !ni!/g#.e' $t#ei$ en#ug)
Age F!.t# - Y#ut) p#pu"!ti#n 9 ,!$t ,## ; ."#t)ing 9 $t#e$.!n e e.ie !..#ing"'
Une$t!ning #, E+p"#'+ent "ee"$ !n t'pe #,e+p"#'+ent
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#nt
#+petiti#n !n #+p!tii"it'
#+p!tii"it' 9 8)ee t# "#.!te 9 Gi,t $)#p 9 ne!t)e!te( @u$ $t#p( ep!t+ent!" $t#e
#+petiti#n 9 .#+petit#$ $t#e $iBe !n t)e .#$t t)e'$pen ,# e!.) $7u!e ,eet !n t)e etun$ t)e' get
,#+ t)e $!+e
L!*$ !n Regu"!ti#n$
5!i#u$ pe+i$$i#n$( )#u$ #, #pe!ti#n( +ini+u+*!ge$( )#"i!'$ et.(
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#nt
T!e Ae! An!"'$i$
A ge#g!p)i. !e! t)!t gene!te$ t)e +!#it' #,t)e .u$t#+e$ ,# t)e $t#e
T!e !e! e:ten$ e'#n t)e +uni.ip!"#un!ie$ #, t)e t#*n # .it'
T!e !e! 9 !' 9 !.. t# t)e p#u.t t'pe($ei.e$ ( +!&et $eg+ent$
A t!e !e! )!$ 3 p!t$ 9 pi+!'( $e.#n!'(,inge # teti!'
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Ret!i" St#e
Tertiary
Secondary 15 25%
Primary - 50-80% customers
Types of Tradin !rea
"etermined #y studyin t$e freuency of purc$ases and
a&erae #ill si'e
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#nt
T!ing !e!$ !e epenent #n i$t!n.e
T*# t'pe$ #nenien.e $)#pping t!e !e!
M!' e ! e$tin!ti#n $t#e( *)ee t!ing !e! i$ "!ge( pe#p"et!e" ! i$t!n.e t# i$it t)e $t#e
M!' e ! p!!$ite $t#e t)!t epen #n #t)e $t#e$ .u$t#+e$9 +!g!Bine $t!n !t )#te"( R!i"*!' $t!ti#n
#+p!i$#n $)#pping t!e !e!
@!$e #n %i.e $e"e.ti#n( 7u!"it' !n $t'"e Eg E"e.ti.!"App"i!n.e$ ( Funitue et.
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Ienti,' !"ten!te $ite$ !n$e"e.t $ite$
F!.t#$ Inuen.ing Site L#.!ti#n
T!?.
Re,e$ #t) pee$ti!n !n e)i.u"! t!?.
A..e$$ii"it' #, t)e +!&et
@u$/ T!in/ !n .#nne.tiit' t# ieent p!t$ #, t)e .it'
T#t!" Nu+e #, $t#e$ !n t)e t'pe #, $t#e$ in t)!t!e!
Ret!i" $!tu!ti#n ine: t)e#'
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%!&ing F!.i"itie$
Re!" e$t!te .#$t$
CR !!i"!i"it'
O..up!n.'
Ot)e A+enitie$
Nu+e #, $t#e$ 9 "!ge 9 )ig) t!?. !n i.ee$! !n t'pe #, $t#e 9 Ae! +e!nt ,# te:ti"e
nee $uit$ #t)e$
02/14/16
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S%AE MANAGEMENT
T)e $tu' #, t)e i$tiuti#n #, $p!.e !""#ttet# p!ti.u"! .!teg#ie$ in e"!ti#n$)ip t# t)eip#u.tiit' !n t)ei inent#' !"!n.e$
%#u.tie u$e #, $p!.e i$ t)e &e' ini.!t# #,u'ing !n +e.)!ni$ing $u..e$$
Sp!.e .#n$t!int$ !ppe!$ t# !"" et!i"e$ -
#t) $t#e !n n#n-$t#e et!i"ing
@ette $p!.e +!n!ge+ent .e!te$ ! i$u!".#n$i$ten.' 9 .u$t#+e !tt!.ti#n
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Sp!.e +!n!ge+ent p#.e$$
Me!$uing t)e et!i" $p!.e
Diiing t)e $p!.e int# $e""ing !e!$
Dete+ine t)e "!'#ut
Dete+ine t)e $p!.e !""#.!ti#n #,p#u.t "ine$
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#nt
Me!$uing et!i" $p!.e
T)e t#t!" $p!.e $)#u" e +e!$u!"e
St#e 9 %)'$i.!" $p!.e( *it)( "engt)()eig)t
N#n- St#e 9 t!get nu+e #, p!ge$ in !.!t!"#g # *e$ite
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#nt
Diiing t)e Sp!.e int# Se""ing !e!$
U$u!""' ene ' p#u.t .!teg#' #ep!t+ent
Dete+ine ' t)e )i$t#i.!" e$ti+!te #, t)e,#e.!$t .!teg#' / ep!t+ent pe,#+!n.e
E:pe$$e !$ $p!ti!" +e!$ue< S7 +ete$( S7 ,t>
S#+eti+e$ !$e #n t)e nu+e #, :tue$!""#tte t# e!.) .!teg#'
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#nt
Dete+ine t)e L!'#ut
De.i$i#n #, p#u.t !!.en.ie$ !n t)e "#.!ti#n #,$e""ing !e!$
In !n iniiu!" #ut"et 9 "#.!ti#n #, ent!n.e$( *!"&*!'$ !#un t)e $t#e( "i,t( e$.!"!t#$( pi""!$( ii$i#n$et. *i"" inuen.e t)e p"!nning !n e.i$i#n$
!t!"#g 9 p#u.t .!teg#ie$ !t ,#nt( +i"e( !.&p!ge$
Re"!ti#n$)ip et*een t)e .!teg#ie$ $)#u" e.#n$iee
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#nt
Dete+ine t)e $p!.e !""#.!ti#n #, p#u.t"ine$
A""#.!ti#n #, iniiu!" :tue$ t# e!.) p#u.t"ine !n SHU$
T)e !!i"!i"it' ; .)!!.tei$ti.$ #, :tue$(iniiu!" p#u.t pe,#+!n.e$( ,e!tue$(
.#+p!tii"it' et. inuen.e$ t)e e.i$i#n
M!n' et!i"e$ u$e $#p)i$ti.!te !n.#+puteiBe $p!.e !""#.!ti#n $'$te+
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Signi.!n.e #, Sp!.eM!n!ge+ent
A well-planned and properly designed retailfoor achieves a great deal or the store: It enables a smooth and ecient customer fow
into the store and within it.
It helps the customer reach and access themerchandise he is looking or, without ail. It helps create a eeling o comort in the minds
o customers, enabling them to walt their waythrough without acing any bottlenecks on theway.
!he aesthetics o a well-planned foor are avisual east or the customer and trigger the"come-back# eeling in him, as he eels a sense obelonging in the store.
A well laid-out foor, in essence, helps the store
to sell more e$ectively and retain customers.
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Retail Location Research
Techniques:er!ndahl"erschman Inde#
The Inde# of Retail Saturation
Reilly$s La% of gra&itation
'entral Place theory
u($s model of trading area analysis
'omputer Simulation Models
Multiple Regression
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Trading )rea A t!ing !e! i$ ! ge#g!p)i. !e! .#nt!ining t)e
.u$t#+e$ #, ! p!ti.u"! + # g#up #, +$ ,#$pe.i. g##$ # $ei.e$
Trade Area Analysis It i$ ne.e$$!' t# e$ti+!te+!&et p#tenti!"( une$t!n .#n$u+e p#"e(.#+petiti#n et. GIS < Ge#g!p)i.!" In,#+!ti#nS'$te+ 9 .#+ine igitiBe +!pping *it) &e'
"#.!ti#n!" !t! >u$e ,# t)i$ pup#$e
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*eographic Information Systems igitiBe +!pping *it) &e' "#.!ti#n!"
!t! t# g!p)i.!""' epi.t t!ing-!e!
.)!!.tei$ti.$ $u.) !$ p#pu"!ti#n e+#g!p)i.$
!t! #n .u$t#+e pu.)!$e$
"i$ting$ #, .uent( p#p#$e( !n .#+petit#
"#.!ti#n$
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er!ndahl"erschman Inde#:
It i$ !$e #n t)e +!&et $)!e$ #, t)e .#+petit#$Su+ #, t)e $7u!e$ #, t)e +!&et $)!e$ #, t)e
.#+petit# gie$ ! !"ue
I, it i$ +#e t)!n 100 9 Cig)"' .#n.ent!te
1000-100 9 M#e!te"' #n.ent!te
Le$$ t)!n 1000 9 Un.#n.ent!te
Inde# of retail saturation+IRS,:
T$e (nde) of *etail Saturation is a t$eory of retail saturation
inde) is calculated to determine t$e saturation inde) of retail
s$oppin district + (f (*S is more t$en it is $i$ly saturated and
retail success is lo, and &ice &ersa
Reilly$s La%
Rei""'$ "!* #, et!i" g!it!ti#n( ! t!iti#n!" +e!n$ #,t!ing-!e! e"ine!ti#n( e$t!"i$)e$ ! p#int #,
inieen.e et*een t*# .itie$ # .#++unitie$( $# t)e
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Cu$ "!*Cu$ "!* #, $)#ppe !tt!.ti#n
e"ine!te$ t!ing !e!$ #n t)e
!$i$ #, p#u.t !$$#t+ent
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Oe.tie$ #, ! g## $t#e
e$ign
T#t!"it' 9 Ret!i" $t#e +u$t e.#n$iee !$ ! *)#"e$#+e unit#n$i$tent *it) $t#e i+!geClear focus
#$t$ 5$ 5!"ueF"e:ii"it'#nenien.e
%#u.t i$p"!'
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CRM in Ret!i"
Ienti,'ing !i#u$ #"e$ in t)e
#g!ni$!ti#n
Re.uit+ent
Se"e.ti#nT!ining
M#ti!ti#n
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CR )!""enge$ in Ret!i"
L!.& #, $&i""e +!np#*e
Ste$$
L!.& #, ,#+!" eu.!ti#n in et!i"
8#& ,#.e !ttiti#nT)e!t #, p#!.)ing
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In,#+!ti#n $'$te+$ in
Ret!i"
! *etail (nformation System anticipates t$e
information needs of retail manaers
collects. orani'es and stores rele&ant dataon a continuous #asis directs t$e flo, of
information to t$e proper decision ma/ers
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App"i.!ti#n$ #, IT inRet!i"ing
)utomating Processes E"e.t#ni. %#int #,S!"e$( Inent#' %"!nning( Oeing !nM!n!ge+ent
'ollecting -ata ).out 'ustomers %u.)!$ing
p!tten$ #, .u$t#+e$( $eg+ent!ti#n(pe$#n!"iB!ti#n( .u$t#+iB!ti#n #, #e$( "#'!"t'p#g!+$( $t#e e$ign !n p#u.t p"!.e+ent$
Feed.ack on Marketing -ecisions E%OS !t!t# $tu'
ee.t$ #, p#+#ti#n$( pi.e$( ne* p#u.t$ !np!.&!ging .)!nge$
'ommunications 8it) $upp"ie$( .u$t#+e$(inten!"
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#nt
Tools to Plan the Business S#,t*!e t# p"!n(uget( ,#e.!$t )##$e e$t "#.!ti#n$
)dding 0alue to Retail Transactions IT-!$$i$te t!n$!.ti#n$ +!' e pe,ee' $#+e .u$t#+e$( $e",-$.!nning( in-$t#e&i#$&$ ,# p#u.t!n in,# $e!.)
Technologically"ena.led Shopping Intenet$)#pping
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@enet$ #, IT in Ret!i"ing
#$t !n %#u.tiit' @enet$
E?.ien.' #, ti+e/t!n$!.ti#n $pee in.e!$e$
Reu.e 7ueuing ti+e$
Ope!ting .#$t eu.ti#n$
In.e!$e !..u!.' #, !"" !$pe.t$ #, t)e $!"e$t!n$!.ti#n
I+p#e inent#' +!n!ge+ent
Reu.ti#n$ in $t#.& #ut$ !n $t#.& )#"ing$
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#nt
M!&eting @enet$ I+p#e !t!-ee.tiene$$ #,
p#+#ti#n$( ,#e.!$t #, $!"e$
Ai"it' t# in.#p#!te ,!$te e$p#n$e$t# .)!nging +!&et .#niti#n$ #n$u+e enet$ ,#+ #pe!ti#n!"
e?.ien.ie$ eg $)#te 7ueue$
!n "e! t# ui"ing #, "#'!"t' $.)e+e$ Aiti#n!" $e""ing $p!.e .#B #, eu.e
$t#.&)#"ing$
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A Ret!i" IT S'$te+
E"e.t#ni. %#int-#,-S!"e S'$te+$
E"e.t#ni. Fun$ T!n$,e !t %#int #,S!"e
T)e Unie$!" %#u.t #e #@!.#e
Ientie$ e!.) p#u.t #*n t# it$ SHU
Fi$t 3 igit$ #unt' .#e Ne:t 4 igit$ #+p!n' .#e
Ne:t J igit$ %#u.t .#e
L!$t igit )e.& igit
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#nt
RFID
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E"e.t#ni. !t! Inte.)!nge
8it) EDI( et!i"e$ !n $upp"ie$egu"!"' e:.)!nge in,#+!ti#n
t)#ug) t)ei .#+pute$ *it) eg!t# inent#' "ee"$( e"ie' ti+e( unit$!"e$ et. #, p!ti.u"! ite+$
@#t) p!tie$ en)!n.e t)ei e.i$i#n-+!&ing .!p!i"itie$( ette .#nt#"inent#' !n !e +#e e$p#n$ie t#e+!n
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SU%%LY CAIN
MANAGEMENT
Supp"' .)!in +!n!ge+ent en$ue$ !
$+##t) !n e?.ient #* ,#+ !*
+!tei!" t# ni$)e g##$( int# t)e)!n$ #, t)e .#n$u+e$
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Supp"' .)!in +!n!ge+ent
T)e et!i"e )!e t# p"!n( $#u.e !ne"ie t)e p#u.t$
T)e $upp"' .)!in +u$t t!&e int#
!..#unt De+!n
Li,e '."e
%#u.t 5!iet' !n "e! ti+e Sei.e e7uie+ent #, t)e .u$t#+e$
%u$) Supp"' )!in !n %u"" Supp"' )!in
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Inn#!ti#n$ in $upp"' .)!in 5en# M!n!ge inent#'
T)e inent#' +!n!ge ' en#$/+!&e$
#""!#!tie p"!nning ,#e.!$ting !n
ep"eni$)+ent #""!#!ti#n *it) t)e $upp"ie !n et!i"e
#$$ #.&ing
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Ret!i" L#gi$ti.$
L#gi$ti.$ i$ !n integ!" p!t #, SM
Oe.tie T# eu.e inent#'-)#"ing .#$t$(i+p#e $pee( p#t
Deniti#n %!t #, t)e $upp"' .)!in p#.e$$ t)!t
p"!n$( i+p"e+ent$( !n .#nt#"$ t)e ,#*! !nee$e #* #, g##$
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T'pe$
T)i p!t' "#gi$ti.$
L#gi$ti.$ p#.e$$ #ut$#u.e t# t)e t)ip!t'
Eg( Fee:( @"ue!t F#ut) p!t' "#gi$ti.$
Supp"' .)!in e$ign $ei.e$ #ne '!n#t)e p!t'
Ree$e "#gi$ti.$
M!n!ging ee$e #* "i&e etune p#u.t$