Change and development in the retailing

RUNNING HEAD: RETAIL MANAGEMENT
Retail Management

RETAIL MANAGEMENT 1
Executive summary
The report summarizes on the title ‘Retail Management’. The retail institutes suggest
that ‘Department’ and ‘Discount stores’ as major types of retail stores in the Australian
market. The retailing system proposes the concept of a retail system and its status. It
also comprises of the ‘Wheel of Retailing’ and ‘Retail life concept’ by using as ‘Coles’
and ‘ALDI’ as examples. The next section includes factors such as technology, merger,
downsizing as the key driver of change in retail patterns. The report also presents the
possible future aspects and amendments in retailing. Additionally, it suggests ‘7 Eleven’
and ‘COSTCO’ as alternate retail store options for Australian customers. The last
section provides recommendations based on the adoption of better technology, services
and improved workforce to avail the high customer demand.

RETAIL MANAGEMENT 2
Contents
Introduction........................................................................................................................3
Retail institutions................................................................................................................3
Retailing system................................................................................................................4
Change and development in the retailing system.............................................................4
Key drivers of change and development...........................................................................5
Future aspects of retailing.................................................................................................7
Substitute retail stores.......................................................................................................7
Conclusion.........................................................................................................................8
Recommendations.............................................................................................................8
Bibliography.......................................................................................................................9

RETAIL MANAGEMENT 3
Introduction
The research report is prepared on the title ‘Retail Management’. Retail management
refers to all the procedures that help the customers to acquire the chosen commodities
from the retail stores for their end use. Retail management is a set of plans and
processes to build effectiveness in the retail environment to gain customer satisfaction.
This process aids in stimulating sales and enhancing the customer satisfaction level
(Gielens & Gijsbrechts , 2018).
The basic purpose of the research report is to pour light on the development of retail
stores. Additionally, it provides an opportunity to upgrade the knowledge based on retail
management. It offers a chance to practically apply the knowledge in real-life
companies.
Retail institutions
Department stores: It operates on a large scale and sells multiple goods under a
single store. A departmental store is divided into sub-department that sells specialized
merchandise. It offers products like groceries, electronic appliances, home appliances
and accessories. It is engaged in extensive advertising. Generally, these are attractive
in their appearance. Additionally, it offers various other amenities (restaurants, banks) to
enhance the shopping experience. The recognized department stores in Australia are
Kmart and Myer (Ranker, 2019).
Discount stores: it offers products at a relatively low price than a departmental store.
They rely on ‘high-volume, low-profit margin’ strategy to offer products at a discounted
price. They usually attract customers that are price-conscious. They offer multiple
products including clothes, bedding furniture, cosmetics and stationery. These stores
rarely offer additional activities like a food court and parking structure (Zentes et al.,
2012 ). COSTCO is the key example of discount stores as it is leading in Australia
(Martin , 2018).