The retail is one kind of process in which the consumer goods or consumer services is done through multiple distribution channels for profit. The canada retail agency is one which try to do the same and satisfy the demand by the supply chain. The retailer is a provider who provide service by filling small orders from individuals which are large in number which are called as the end users.
The retailer strategic level will start from the store type which he or she have chosen, then the market to which served, the product which are optionally assorted, most important is costumed service and supporting service. Once this all procedures are done the retailer will start the process of retail mix which is done with the products in which presentation, personnel,price, place will be taken care off. Presently due to increase in the digital age the retailer is reaching the customer by multiple channels which is included with online and in person retailing. The goods and services are also paid on time with the help of the digital technology. The service is also included with credit, free delivery, stylist services, advisory and other supporting services.
Normally in the retailing the plan is executed as per the vision and guidance of how the product will go ahead in retail decision and how the product will give the customers maximum satisfaction. Normally a detail environmental scan should be done by the retailer to get the exacta picture how well the product will go ahead in the competitive and forced marginal environment.This should be reviewing every few years as to get an idea how good the product is going ahead.
- market analysis – Most important is the size of the market,trends, attractiveness of the market what is the stage of the market and how much competitive is the market.
- Analysis of the customer – Segmentation of the market,habits,preference of the brand, needs and wants, habits of the media
- Internal analysis – technology,financial, human resource capabilities
- Competition analysis – Any substitutes are available or not,competitors how strength they are, trends in the competitive ness
- Product Mix and review – How much profitability in the product line, stocking turnover, sales as per the square foot.
The retail is one kind of process in which the consumer goods or consumer services is done through multiple distribution channels for profit. The retailer is a provider who provide service by filling small orders from individuals which are large in number which are called as the end users.