There are 4 phases in the lifecycle of a retail store as per the wheel of retailing concept. These are: Phase 1 Entry This is mainly the start phases of a retail business in which a new player enters a market. Unless a retail store has a strong backing and finance, normally it wou...
It is safe to say thatretailis a broad term that accommodates a vast industry, employs millions of workers, and generates billions of dollars in revenue annually. But whatwhat exactly is retail, and what do we, as business owners or ecommerce sellers, need to know about this concept? In ...
Challenges such a concept of retailing as a description of both the commercial activity and the academic topic which the word now represents. Investigates the historical evolution of the concept of retailing and proposes a new definition, one which is nearer to the current concept of supply chain...
Selling Concept Wheel of Retailing Concept Societal Marketing Concept Sales Concept Example of Production Concept India and China are great examples of the Production Concept of marketing. China made sure that it increases its overall production through manual labor available by mass producing and distrib...
What, exactly, is omni-channel retail? Omni-channel retailing is a model in which shoppers can interact with multiple physical and digital sales channels at once and have their information retained by the retailer as they move between them. This enables truly asynchronous shopping: Customers can...
Retailing goes as back as time goes and the best part of it is that the concept of retailing hasn’t changed for centuries. But before we move on to elaborating retail definition or its concept, you should be clear of these two terminologies – ...
Here’s how Kristen LaFrance, host of Shopify's Resilient Retail podcast, sums up the concept and the possibilities it presents:“Micro-retailing is a great way for ecommerce and DTC brands to test out a retail opportunity. We’ve seen companies place vending machines in cities, take over ...
To understand the concept of multi-channel retailing better, let’s read about an actual business that implements it: Apple. Apple’s multi-channel strategy consists of both online sales channels—third-party marketplaces like Amazon, eBay, and other country-specific platforms—and offline sales ch...
. RETAILING STRATEGY 5.1. What is Retail Strategy? A retail strategy is defining as the retailers’ decisions on how to identify and satisfying the retailer’s specific targeted market needs by using the appropriate types of retail formats in order to create a sustainable competitive advantage in ...
The experiential retail concept is centered around creating engaging and interactive shopping experiences that connect with customers on an emotional level. It involves designing stores and services that focus on customer engagement, personalization, and providing unique, memorable experiences that go beyond...