Retail Practice and Theory

RETAIL PRACTICE
AND THEORY

Table of Contents
INTRODUCTION...........................................................................................................................3
Introduction to retail and fashion retail..................................................................................3
Introduction to the company...................................................................................................3
Key relevant changes within the UK fashion retail................................................................4
Relevant changes within the micro environment...................................................................6
Strategies and tactics that could be used................................................................................8
Recommendations................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Retail is termed as a process to make sale of goods and services of daily basis use to
customers through numerous from of distribution channels with an aim to earn high amount of
profits and revenues (Souiden, Chaouali and Baccouche, 2019). In today's modern world retail
organisations are fulfilling needs and demands of customers through the medium of supply
chain. Present report has been conducted in Roman Originals. Company was established in the
year 1957. Entity offers their services in Ladies clothing and accessories with having more than
150 outlets all across the United Kingdom. Present report include discussion on changes
prevailing in fashion retailing segment. In addition to this issues that are being faced by entity is
also covered in this report along with measures to overcome them.
Introduction to retail and fashion retail
The term “retailer” is specified when a service provider of small orders of big quantum of
individual who are stated to be end user rather than of providing for large scale order of small
quantum of corporate, government clients or wholesale. It has been identified that modern
retailing organisation undertake different type of strategic decisions such as types of store,
determination of market, customer service, effective product assortment, market Positioning of
retail store, after sales assistant and support services in retailing source. There are different types
of varieties and contents in retailing store that include large stores, strip shopping complexes,
indoor shopping malls and more. Fashion retail is mainly a segment within retail market that
provide lifestyle need And latest trends clothing to individual by offering them products and
services according to their demand in order to increase the satisfaction level. Fashion retailer
mainly define the strategies that start from their key positioning factors that include speed
channels, experience, assortment in order to differentiate themselves from their competitors.
Introduction to the company
Roman originals offer their services as a British fashion retailer that offers women clothing
and accessories. Organisation is having the primary operations in the provinces of United
Kingdom. Company offer their services since a long time in order to satisfy customers needs
while ensuring large space of profitability (Link and Scott, 2019). With their high quality
products company attracts attention of customers towards accessories and clothing that has been
offered by organisation.

Features of company: The main feature that has been whole by Roman original is that
company is committed and loyal towards their human resources with an aim to make
organisation topmost brand in retailing sector.
Location: Present organisation has their branches spread across United Kingdom.
Business format (Store Based): Roman originals operate their services in best effective
manner in UK provinces with having three channels that include Roman retail, Roman directory
and Roman International.
Business format (Non-store based): Roman Originals undertake orders through mail. In
addition with this company also offer their services via online shopping in which they have also
introduced attractive initiatives such as Roman Orignals day home delivery with minimum
charges of £3.99. In addition with this it has also been identified that consumer can return
products and items at any nationwide Store.
Classification by size: According to size, retail stores can be in departmental or High
Street size. In context with this Roman originals entity offer their services with having 150
outlets all across United Kingdom.
Classification by margin: It has been identified that Gross margins of Roman originals
significantly improved by 1.6 percentage points.
Key relevant changes within the UK fashion retail
Background of retail marketing: Retail market is signified as a procedure in which retailers
effectively engage in the process of promoting awareness and interest of the product and services
to generate large base of profitability by selling their essential. It is one of the most essential
commercial activities that offer opportunity to buy goods and services from numerous margins. It
has been defined that retailing Market mainly involves number of complex field in which there is
involvement of different types of selling of products.
Traditional distribution channel- In this distribution change products and services are reaches
to customers it mainly involved distributors, retailers wholesalers and others.
1950’s Manufacturer is king: In the year 1950 products and services manufacturers are
King. At that time needs and demands of customers are not preferred to be high that made
manufacturers of produce and customers as king.