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VRS UNIRetail-6 Software for your Big or Small Size Businesses
Inventory Management Software
Retailing According to VRS Software: “Retailing
includes all the activities involved in selling goods or services to the final consumers for personal, non business use”
It is responsible for matching individual demands of the consumer with supplies of all the manufacturers.
Retail Management The various processes which help the
customers to procure the desired merchandise from the retail stores for their end use refer to retail management.
Retail management includes all the steps
required to bring the customers into the store and fulfill their buying needs.
Why retail management ? Retail management saves time and
ensures the customers easily locate their desired merchandise and return home satisfied.
An effective management avoids unnecessary
chaos at the store.
“’Wheel of Retailing”
Low-priced merchandi
se high value store
Trading up mid-price merchandise
mid-range store
High-priced merchandise top range
store
Evolution of retail in India
TraditionalFormatsHaatsMelasMandis
etc.
Established formats
Kirana shopsConvenience/
department storesPDS/
fair price shopsPan/ Beedi shops
Emerging Formats
Exclusive retail outletsHypermarketInternal retail
Malls / Specialty MallsMultiplexes
Fast food outletsService galleries
India's Largest retail Chains: 1. PDS: 463,000
2. Post offices: 160,000
3. KVIC: 7,000
4. CSD Stores:3,400
(source business world marketing White book 2016)
Factors Influencing Retail Management
SocialEconomi
cal
TechnologicalPolitical
Legal
Social how consumers, households and communities behave and their
beliefs. For instance, changes in attitude towards health, or a greater number of pensioners in a population.
Legal the way in which legislation in society affects the business. E.g.
changes in employment laws on working hours.
Economic how the economy affects a business in terms of taxation,
government spending, general demand, interest rates, exchange rates and European and global economic factors.
Political how changes in government policy might affect the business e.g.
a decision to subsidies' building new houses in an area could be good for a local brickworks.
Technological how the rapid pace of change in production process and product
innovation affect an organization.
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