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Assignment on Retail Management

   

Added on  2020-10-23

11 Pages2733 Words230 Views
Retail Management

Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7

INTRODUCTIONRetail management is process which helps for consumer to provide the best quality ofproduct and services in marketplace. Merchandise used the retail stores for personal use. It isused different steps which required for customer to buy product in store and full-fill their needand requirement. Retail business is the fastest growing organization to increase economy growthin marketplace. Retail business in UK is the most emerging and attractive market across theworld. Customers demand has been increases in day by day. This assignment will describe the retail business and how they changing departmentalstores and discounts. This report will cover the entire historical departments stores in UnitedKingdom and also discuss merchandise and how distinguish market segments and market type ofretail consumers. Further, this report will discuss diversification, downsizing and value drivenretailing or cost containment. MAIN BODYRetail industry is the fastest growing organization and reached towards their goals andobjectives. The industry mainly focus on consumer behaviour to change their expectation forproviding the best quality of product and services. It is required for retail business to regeneratethe store positions in market and also identify the need and requirement of consumers. Theorganization is changing their traditional method to use different techniques to increase the costof operating stores and also change the behaviour of consumers (Chernev and Hamilton, 2018).Retail company provide online technique to increase the need in the future. Change the retail departments stores and discounts-In today's marketplace, The retail market is a leading organization that provide thefacilities and services for long term plans. I also observing pressure in retail businesssuch as:The Retail business cost continuously increases in market therefore, not only increasedThe variable cost but also increased the central cost.For increasing modern technology, there are many numbers of devices applicable inbusiness easily determine consumer behaviour. Business sustainability and company policies are contributes towards the commercialperformance.

Historical development of departmental store and discount in UK-The earliest stores and departmental shops focus on providing high quality of product andservices and inspired with the high quality of merchandise. The departmental store more relevantwith the shopper because they provide variety of product and item to their customer which isIllustration 1: Retail business system(Source: Retail business, 2017 )

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