Retailing

Real estate- employees are responsible for selecting locations of stores, leases and land purcheases. Some companies like „Bag borrow or steal” offer a chance for their customers (who can not afford the item) to rent an item for a week, month etc. They can also purchease a membership card with allows to rent the bags at lower price.
To sum up retailing - the set of business activities that adds value to the products and services sold to consumers for their personal or family use. Retailers create additional value to products and services by: providing assorments, breaking bulk, holding inventory, providing services. Despite the inroads made by nonstore retailers, most retail transactions are still conducted in stores—and will continue to be in the future. Many people like to shop in person; want to touch, smell, and/or try on products. A retail strategy is the overall plan guiding a retail firm. It indicates how the firm plans to focus its resources to accomplish its objectives. Retailing concept includes 4 important parts- customer orientation, coordinated effort, value-driven, goal orientation. The retail mix- includes the decision variables retailers use to satisfy customer needs and influence their decision. Three issues that relate to a retailer’s performance in terms of the retailing concept are: the total retail experience, customer service, and relationship retailing. There are many management and entrepreneurial opportunities in retailing. To be able to work in retailing industry person needs to completly understand the critical enviromental factors in the world of retailing.
…