Retail Management: Strategies and Approaches in the Australian Market

Running head: RETAIL MANAGEMENT
Retail Management
Name of the Student
Name of the University
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1RETAIL MANAGEMENT
Executive Summary
The report has assisted in analyzing the various kinds of retail management approaches which
are being followed in the entire retail economy of Australia. Moreover, there are different
discount and departmental stores which are being followed by the various companies in
Australia. The different strategies have been analyzed which helped in managing the different
kinds of approaches of both retail stores and there were different recommendations provided
which helped in managing the overall brand image of the companies.

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Table of Contents
Introduction................................................................................................................................3
Notion of Discount Retail Stores...........................................................................................3
Notion of Departmental Retail Stores....................................................................................3
Fruition of Retail Markets..........................................................................................................4
Discount Market Merchandise in Australia...............................................................................4
Strategies of Discounted Stores in Australia..............................................................................5
Department Market Merchandise in Australia...........................................................................6
Strategies of Departmental Stores in Australia..........................................................................6
Technology and Location Applied in Retail Stores in Australia...............................................7
Value Driven and Containment of Cost in Australian Marketplace..........................................8
Importance of Appealing and Identifying Customers in Retail Markets...................................9
Future of Retailing in Australian Market...................................................................................9
Conclusion..................................................................................................................................9
References................................................................................................................................11

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Introduction
The report throws a light on analysing the evolution of the different retail
management stores in the entire economy. There are various kinds of retail stores such as
discount and departmental stores in the economy which are required to be compared in terms
of the merchandise along with emphasis is required to be provided on the different kinds of
brand and customer relationship management which are being performed by the
organizations.
Notion of Discount Retail Stores
Discount retail stores is defined as the stores which sells various kinds of products and
services to the customers in the market at lower price than the original market price.
Moreover, this has been noticed that discount shops are not the variety kind of stores wherein
all the goods are being sold at a single price point (Chernev and Hamilton 2018).
For example- Kmart is one of the suitable examples which can be taken into
consideration which is situated in Australia which offers wide assortment of the goods and
services to the different customers wherein the main focus is on price rather than the service
or display.
Notion of Departmental Retail Stores
Departmental Retail Stores is the other concept in which this is the assortment in
which the companies deal with various kinds of products and they are selling the same to the
customers under one roof as well. However, this has been seen that in departmental stores,
there are various types of the departments which are separately working under one roof which
will help in analysing the preferences of the customers and try to fulfil their needs effectively
as well (Pearlson, Saunders and Galletta 2016).