essay about retail business

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Essay On Retail Business

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Topic: Business , Marketing , Customers , Commerce , Trade , Shopping , Services papers , Products

Published: 01/01/2020

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Retail is an undertaking involving sales of goods and services from businesses to the final consumers. The main reason behind the booming of retail trade is the steady increase in disposable earnings of both the upper and middle set household. Retail trade involves the retailers and the consumers as the only involved parties in the trade circle. The retailers form a very important role in ensuring a consistent supply chain is maintained. As a trade culture, the retailers would usually purchase products in large scale from the manufacturers and then sell to the consumers in small quantities. In the process, the retailers aim at making profit based on the increased cost per unit commodity of their dealings.

Retail trade has massive venture of importance in the economic sector. Based on the extensively increment in coverage, retailers have ventured and covered vast areas in the economic sector. The first importance of retail trade is factored in by the increased job opportunities created. Most individuals have gotten personal employments through small scale retail shops. Additionally, large scale retail shops also offer employment opportunities to client attendants. In addition to the easy delivery of goods to the consumers, retailers have greatly assisted manufactures in terms of market expansion. Retailing can either be fixed in a geographical location or online. The basic idea behind retail trade is subordination of services as well as small consumable packed sales.

There are vast types of retail outlets based on the products of operation. Apart from products classification, retailers can also be classified based on the market strategies. Capitalized on the market strategy, the following classifications can be achieved.

Departmental Stores:

These are very outsized stores dealing in huge varieties of both hard and soft commodities. They often carry resemblance to a group of specialty stores though with little differences. In the departmental stores, retailers carry a broad selection of average pricing based on the price policies of the land. Departmental stores normally offer considerable level of customer care service.

Discount Stores:

Discount stores deals in a wide variety of goods and services as compared to the departmental stores. The main characteristic of Discount Stores is capitalized on their competitive nature seen on their extensive price offers on merchandise assortment. In return, Discount Stores sell goods at a more reduced and cut-rate prices entirely through the market. specialty store Specialty stores are uniquely designed to give attention to selected category of high level service delivery to customers. An example of a specialty store in this case is a pet store which is mainly specialized at selling dog food. Other examples include a Reebok store where only Reebok products can be found. warehouse clubs

Warehouse clubs are categorized as low cost stores where high quality products are piled on steel shelves. They are normally open and voluntary in terms of membership registration at a given fee.

electronic retailers In electronic retailing, the consumers use shipping techniques through which the retailers receive payments directly although goods are directly sent from the manufacturer to the retailer. Electronic retail trade offers the consumers with opportunities to do their shopping online. Through e- retailing, clients have the privilege to do all their shopping and order for their goods through the use of internet. As a result, customers benefit from doorstep delivery of goods and merchandise.

Rizwana, A. (2009) The Exuberant Age of Retail: NY, Integral University, Lucknow press Mitchell, P. (2008), Discovery-Based Retail, Bascom group Publishers Deloitte, H. (2012) Switching Channels: The 2012 Stores Global Retailing Powers Krafft, M. (2006) The 21st century Retailing: current and future trends. New York: Springer Davis, E. (2001). “Institutional trading and Investments in retail: USA, MIT Press. For attachment purposes, use the link: http://www.fibre2fashion.com/industry-article/18/1776/the-exuberant-age-of-retail-in-india1.asp

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Retail - List of Essay Samples And Topic Ideas

The retail sector comprises businesses that sell goods and services directly to consumers. Essays on retail could explore the evolution of retailing practices, the impact of e-commerce, and the future of retail in the digital age. They might analyze consumer behavior, retail marketing strategies, and the interaction between online and offline retail channels. Discussions could also delve into the challenges retail businesses face such as supply chain management, competition, and adapting to changing consumer preferences. A substantial compilation of free essay instances related to Retail you can find at PapersOwl Website. You can use our samples for inspiration to write your own essay, research paper, or just to explore a new topic for yourself.

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Retail Management, Essay Example

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Wal-Mart and Victoria’s Secret

Founded in 1962 by Sam Walton, Wal-Mart has grown to become a worldwide icon for low-priced consumer goods. In 2003, the retail chain’s earnings topped $244 billion, making it the largest corporation in the world (Funding Universe, 2010).  Wal-Mart buildings, signage, and retail ambiance are all consistent with the company’s tagline “Always Low Prices.”

Wal-Mart stores in the US are typically located within large, free-standing, unassuming buildings with huge parking lots.  The company’s logo has changed five times in its history with the most current version being rolled out in 2008.  The new logo abandoned uppercase lettering in favor of lower case, eliminated the hyphen, and added generic-looking yellow sunburst.  Business Week contributor Jana (2008) quotes a typography expert as saying; “Lowercase letters tend to be interpreted as more casual and approachable.”  No-one really knows what the sunburst means, but Jana suggests it might be a casual statement about the company’s evolving “green” policies.

The inside of a Wal-Mart store is typically well-lit with high ceilings and devoid of any particular color or branding décor.  The ambiance is not as industrial-looking as “warehouse” stores, but the high ceilings and sheer size of the space suggests to shoppers that they are in a big store with lots of products at low prices.  Wal-Mart floors are usually polished concrete with patches of carpeting and laminate flooring providing “separate” shopping areas for clothing and other items.  Some Wal-Mart stores use vinyl-composition tile (VCT) in the food section mimicking the flooring generally found in supermarkets.

The fixtures and flooring found in Wal-Mart departments are virtually identical to those found in specialty stores selling similar products.  People are accustomed to shopping for clothes on carpeted floors with chrome clothes racks, mirrors on end-caps, and attended dressing rooms.  Wal-Mart sells clothing in precisely the same atmosphere.

The same strategy applies to other departments within the store.  With VCT flooring, glass-front refrigerators, deep shelving, deli counters and island-refrigerators, Wal-Mart’s grocery department has the “feel” of a standalone supermarket.  As the largest grocery retailer in the US, Wal-Mart wisely configures this department on a far side of the store thus requiring customers to pass by a host of household, clothing, jewelry and other items on their way to the milk isle.

Wal-Mart’s target customers are middle-class consumers to whom price and value are important.  The atmosphere in Wal-Mart stores is clean, well-organized, but not fancy.  The company’s growth strategy over the years has included an emphasis on placing stores in small towns rather than large metropolitan areas, and being a one-stop-shop for local residents.

Wal-Mart services can include automotive shops, vision centers, beauty salons, photography studios, pharmacies, health clinics, restaurants and banks.  Combine these services with a wide variety of retail goods and groceries, and a customer might never need to shop anywhere else.  Wal-Mart has obviously excelled in the concept of one-stop-shopping.  A Wal-Mart Supercenter is much like a modern-day general store on steroids.

There are some things Wal-Mart does not provide that it perhaps could.  For example, Wal-Mart does not sell wedding apparel.  However, given the company’s strategy of selling a vast range of high volume low-cost items, products like wedding dresses or tuxedos would fall outside that model.  Wal-Mart thrives on high inventory turns with tight margins.

There is however, one service that Wal-Mart does not offer but might be capable of.  This is an outside-the-box idea and perhaps one that would make some cringe.  Wal-Mart is the world’s leader in logistical efficiency and widespread cost control.  Given the nation’s current “crisis” in this area, one wonders about the job Wal-Mart could do in opening a chain of branded healthcare facilities.  It sounds a little crazy, but the concept of high volume products and services at low costs might make a “Wal-Care HMO” just what the doctor ordered.

Victoria’s Secret

Typically located in major shopping malls, Victoria’s Secret is to say the least, gender-specific. A person walking through the mall in search of anything but women’s intimate apparel or fragrances would not give the Victoria’s Secret portal a second glance. The store is quintessentially feminine.

The first Victoria’s Secret was launched in San Francisco in 1977 by Roy Raymond who felt that lingerie was too personal a product to be sold in a department store.  According to FragranceX (2010) Raymond wanted to “establish a cozy, inviting atmosphere similar to that of a Victorian boudoir.”  The company was purchased in 1982 by Limited Brands.  The new owners kept the concept of highly personalized service but changed the image of the brand from Victorian to “tres chic.”

Victoria’s Secret stores are modern and sophisticated with an avant-garde ambiance.  The Formica and chrome fixtures found in most clothing stores are replaced with glass shelving adorned with mirror-strips.  Lighting is bright and progressive often using indirect lighting on white coffered ceilings along with wall wash effects.  The walls are dotted with racy black-and-white photos of slim, sexy, young women wearing lingerie and lacy bras.  As the company’s signature color, pink is prominent throughout the stores.

Mannequins have played a significant role in the company’s product display.  In her article, Hansen (2003) stated that the company withdrew from the usual bust-displays and worked with a mannequin company to “develop realistic mannequins with sexy, provocative poses.”  Much like the controversy over Abercrombie and Fitch’s provocative advertising, Victoria’s Secret gained notoriety and criticism regarding their lifelike scantily-clad displays.  The company capitalized on this controversy by hosting sexy fashion shows and using supermodels minimally adorned with Victoria’s Secret apparel.  While the company has recently “toned-down” its highly sexualized displays, stores still have a sexy, chic ambiance without making the customer feel uncomfortable.

While the company does produce some of its lines in “plus sizes” their primary target demographic are young attractive women and the men who buy lingerie and fragrances for them.

Sales associates do not wear uniforms of any kind, but are dressed in attractive business type clothes.  Customers are greeted warmly and made to feel comfortable.  Personal service is paramount for this retailer.  When purchasing bras or other apparel, women can consult with a sales person in relative privacy.  Men purchasing apparel or fragrances for their significant other are also welcomed with a professional deportment, easing their anxiety.

While customers consult with sales staff in “relative privacy” there are still no totally private places to talk about matters that may be uncomfortable for some.  If for example a man is purchasing an intimate apparel item for someone, much of the sales process happens on the floor.  Having a private consultation room or cubicle might make the initial process more inviting.

While the protests of some regarding the store’s overtly sexy mannequins helped to popularize the brand, the fact that most stores are located in family-friendly shopping malls has prompted the company to become more conservative in this area.  This trend is evidence of a marketing strategy that is customer-sensitive should be continued.

In essence, Victoria’s Secret sells sexy underwear and nice fragrances that are, like most apparel and perfumes, manufactured abroad.  A consumer could purchase similar products at any number of other retailers for far less.  The company’s store designs shout “high-end.”  This keeps Victoria’s Secret in the relatively small club of companies selling veblen goods.  Like Starbucks and Mercedes, the very fact that Victoria’s Secret products are expensive insures continued patronage by “exclusive” customers.

Victoria’s Secret should continue to present itself as being the premier brand in its market.  Maintaining that status (and the markups that come with it) will require a constant finger on the pulse of the market and a willingness to continually update its store image to keep on top of current trends.

Fragrancex. (2010). History and background of Victoria’s Secret. Retrieved from http://www.fragrancex.com/products/_bid_Victoria–Secret-am-cid_perfume-am-lid_V__brand_history.html

Funding Universe. (2010). Wal-Mart Stores Inc . Retrieved from http://www.fundinguniverse.com/company-histories/WalMart-Stores-Inc-Company-History.html

Hansen, A. (2003, March 31). Victoria’s Secret . Retrieved from http://vmsd.com/content/victorias-secret

Jana, R. (2008, July 4). What does Wal-Mart’s new logo mean? Business Week, . Retrieved from http://articles.moneycentral.msn.com/Investing/Extra/WhatDoesWalMartsNewLogoMean.aspx?page=1

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Essay: Retail in business

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Introduction Retail is a vital sector for the economy of a country. Without retail, life would be completely different. It ensures that our standard of living is maintained. That’s why it’s so important to study this sector and to ensure that retail becomes available to everyone. Another question that rises, is: why India? India is not only a member of the BRIC countries ‘ the fastest-growing countries ‘, it’s also a very flexible country with an enormous potential. Many companies already see that potential and try to do business in India. Therefore, it’s useful to study this country with its strengths and weaknesses. This paper deals with some facts and figures about the Indian retail sector, and then it discusses how the retail market looks with a brief presentation of various Indian retailers. The second part of this paper deals with the Indian attitude towards retail, more specific the reforms that have been achieved over the years. Finally, there’s something said about e-commerce, because this is a form of retail which is gaining a lot in popularity. ‘ Facts and figures about the Indian retail sector Retail is one of the most vibrant sectors in India. As we’ve seen in the courses, demography is very favourable. There are about 1.22 billion people living (Find the Data, 2015), with half of their population less than 30 years of age and roughly one-third living in cities. By 2050, the population is expected to reach the cape of 1.6 billion. This implies a huge demand for food and beverages, etc. That’s why the economic value of the Indian retail sector belongs to the top five of all retail sectors worldwide (BBC, 2011). Besides that, the available income of Indian urban people is increasing. In other words, the purchasing power of Indian people is increasing. Finally, there is a trend of urbanization in India, with products such as apparels, jewellery, etc. becoming widely accepted lifestyle products for the Indian urban customer (Dhanabhakyam, & Shanthi, 2013). Retail is one of the most important sectors for India’s economy and accounts for 15% of the Indian GDP (Dikshit, 2011). The sector employs about 40 million people, which is around 3.3% of the total Indian population and around 8% of total employment. The retail sector has a market value of around 500 billion USD and is expanding at a compounded annual growth rate of 15% (BBC, 2011). By 2020, they expect this sector to double his market size and reach the border of 1 trillion USD (IBEF, 2015). The first graph shows the market size of the Indian retail sector (IBEF, 2015). As you can see, there was an immense increase in 2012. To understand this spectacular development, we have to look a little bit closer to the history of Indian attitude towards retail (cfr. infra). On the second graph, you can see the market revenue breakup of 2013 (IBEF, 2015). It shows that the biggest part of the revenues was earned in food and groceries (69%), followed by apparel (8%) and thereafter by jewellery and IT (both 6%). The third graph depicts the mall space break-up in India (IBEF, 2015). Hypermarkets would be the largest retail segment, accounting for 21% of total retail space by 2013-2014, followed by apparel stores, accounting for 19%. This makes sense if you compare it to the market revenue breakup. We can say that the future looks very favourable for the Indian retail sector. The great potential of the solid middle class, the increasing number of cars, credit cards and refrigerators, the technological progress in supply chains, etc. ensures that multinational retailers want to enter the market. This will allow the sector to ‘boom’ in the very near future. Megalomaniac shopping malls rise in several cities, such as Mumbai, Gurgaon, Bhopal, etc. At this moment, the largest shopping mall ‘ LuLu international shopping mall ‘ is situated in Kochi, with a surface of 160,000 m2 (Rediff, 2013). Retail in India In India, you have both organized as unorganized retailing. Organized retailing includes all the commercial activities by licensed retailers, which means that those people pay taxes. In most rural areas, organized retailing is quite absent. Remarkable is the fact that organized retailing only accounts for 7% of the total market in 2011 (RAI ‘ Retailers Association of India, 2013). Unorganized retailing refers to the traditional way of retail: local corner shops, pavement vendors, etc. It’s remarkable that most of the Indians do their shopping in small grocery shops, also called ‘kirana stores’ (The Economist, 2008). Estimated, there are about 12 million of these unorganized stores, which are widely spread across 600,000 villages and 5,000 cities (Patibandla, 2014). Most of the time, the customers can’t take the products from the shelves themselves, but are waiting outside the shop and ask the shopkeeper to bring them their products. Transactions are done with cash, which makes it difficult for the government to control these shops. In those unorganized shops, products don’t have a fix price. It only shows a maximum retail price on the price label. Shopkeepers can’t sell their products above this maximum price, but they can choose the price arbitrarily. This has everything to do with the culture of the Indian people, who love to haggle. With the system of the maximum retail price, this becomes possible. If we look at the fraction of unorganized stores that close down each year, this amount is significantly low (1.7%). In the future, unorganized retail will stay extremely important in India and will continue to dominate the market (The Economist, 2008). However, we note that due to previously described facts, in particular the use of cars, refrigerators and credit cards, there is a shift towards organized retail in towns (Patibandla, 2014). The growth of organized retail is spectacular: e.g. the percentage of sales done in supermarkets have been growing three times more than the Indian GDP (Reardon, & Minten, 2011). For now, we can state that the impact of the arrival of multinationals on the local small business is rather low. For every 1000 people living in India, you have about 11 local shops. Most of the time, the unorganized retailers employ family members in their shop. There are no guarantees if you buy something in these stores: there is no quality control or screening whether the product is real or fake and no service and support after-sales. Besides that, they are not keen on hygiene (Lyengar, 2004). However, a major challenge that organized retail is facing is the diversity of the Indian population across different regions. There is a huge diversity in consumption patterns, culture, climate, language, etc. As a result, it is not possible for multinationals to copy their business model and implement it like that. They need to adopt it to the needs of the Indian consumer (Patibandla, 2014). Some Indian retailers The most known Indian retailer is Reliance. This company, headquartered in Mumbai, operates in different segments: oil, telecom, retail, textiles, etc. The company was founded in 1966 and has grown significantly over time. They serve over 2.5 million customers every week. Nowadays, Reliance employs around 23,500 people (Reliance, 2015). Another example is Spencer’s Retail, headquartered in West Bengal. They sell food, clothes, apparel, etc. Spencer’s has 400 stores in 60 different cities in the form of hypermarkets and convenience stores. They employ more than 60,000 people (Spencer’s Retail, 2015). The last retailer I’m going to mention in detail is Bharti, headquartered in New Delhi. The company was founded in 1976 and operates in 20 different countries across Asia and Africa. They employ more than 30,000 people. They are active in various segments, such as telecommunications, insurance, real estate, digital TV and retail (Bharti, 2015). In addition, there are of course many others. Other examples are: – Pantaloon: a clothing retailer. – Tata: active in very different segments such as airlines, IT, steel, chemicals, etc. – Joyalukkas: a well-known distributor of jewellery. Indian attitude towards retail: policy India already has come a long way to put their retail sector on the map. A series of political reforms and conflicts have succeeded each other in order to make it possible for international companies to settle and do business in India. Until 2011, the Indian government forbade foreign direct investments (FDI) in multi-brand retail. In other words: foreign groups like Walmart were forbidden to sell products from different brands on the Indian market. Single-brand retail (brands like Nike and Apple), was limited to 51% ownership (Chhibber, & Majumdar, 1997). In November 2011, under the lead of Manmohan Singh, prime minister, the Indian government announced retail reforms. The most remarkable was the change of ownership in both multi-brand and single-brand shops. The idea was to allow foreign multi-brand retailers to own 51%. From now on, single-brand retailers could be 100% owner of their Indian store. A remark we should make is that the Indian states could choose whether they implement the system or not. These reforms could stimulate the innovation and competition of the retail sector, but also India’s infrastructure. A study showed that the investments in the retail sector could generate millions of new jobs, both in the shops as in the distribution (Government of India, department of commerce, 2011). In December 2011, under pressure from the opposition, Indian government placed the retail reforms on hold until they would reach a consensus with all of the stakeholders (Argawal, & Bahree, 2011). In 2012, the Indian Federal Government managed to approve multi-brand retail despite the opposition, namely the NDA and left-wing parties. India now allowed 51% FDI in multi-brand retail formally under the Indian law. Indian States can choose whether they allow foreign investments or not (Madan, 2012). On the map added in the first annex, you can see the states that do (green) and don’t (red) approve the reforms. Those are particularly BJP-ruled states (IBN, 2011). There are some conditions attached to this liberalization. First off, multinationals can only set up their store in cities with a population of at least one million habitants, then they should make an investment of at least $100 million, whereof at least half in the provision of infrastructure and lastly 33% of the goods need to be from small and medium-sized manufacturers (Patibandla, 2014). E.g.: Wal-Mart entered the Indian market as a joint venture with Bharti. Bharti is a franchise and can use the expertise of Wal-Mart. But in 2013, liberalization of the sector continued and the Indian central government announced that from now on, foreign multinationals could sell their products directly to the Indian consumer. At this moment, the joint venture between Bharti and Wal-Mart stopped (Patibandla, 2014). We can ask ourselves why states fear FDI’s in retail. Critics fear that allowing foreign retailers would lead to a massive loss in jobs. If you look at Wal-Mart, for example, they don’t employ millions of people. So they would generate a few jobs, but the job creation can’t out weigh the million of jobs of local small Indian retailers that will be lost due to the arrival of the multinationals. Another thing they fear is that it will create a monopoly for foreign groups since they can lower their price to push every Indian retailer out of the market and afterwards raise their price again. Furthermore, they fear that the Indian people would do all the work and that the profits would disappear. So In conclusion: they fear the impact on the local economy (The Telegraph India, 2011). Patibandla (2014) did a study to analyse the net effects of allowing foreign direct investments in the retail sector. The conclusion of this paper is that the arrival of multinational retailers in India isn’t that bad. It could lead to a surplus for farmers, customers and manufacturers. The foreign retailers can provide a transfer of technological and managerial knowledge and could fuel competition so prices would level. E-commerce In addition to the classical approach to retail, India also plays a huge role in e-commerce (IBEF, 2015). In July 2014, less than one out of five Indians was using the Internet (Naidu, 2014). Therefore, the Internet knows no real distribution in India. The good news is that the percentage is growing at high speed, with each month around 6 million new users (Ians, 2014). In addition, the number of mobile phone users is also increasing spectacularly fast. In the second annex, you can find two graphs showing the increase of the Internet enabling device users and the increase in broadband connections and users. The market value of the Indian e-commerce market was about 3.8 billion USD in 2009. By 2012, this value already had tripled to reach 12.6 billion USD (PWC, 2014). The prospects for the future look very good too: by 2017 – 2020, India will reach the cape of 100 million online shoppers, with a market value of 10 to 20 billion USD. Graph 4: Growth in e-commerce and e-tailing In 2013, retail took 2.3 billion USD of the total e-commerce segment (Ians, 2014). E-retail is the fastest growing segment of e-commerce in India. In four years (2009-2013), its share has almost doubled from 10% to 18% (PWC, 2014). In 2013, the total number of e-commerce transactions exceeded 100 million, but this is still a very small percentage of the total Indian retail market ‘ approximately 1% (PWC, 2014). This figure shows that this segment of retail is still at its infancy. If we look at the commodity distribution in e-tailing, we can see that 34% of e-commerce is done in the segment of electronics, 30% in apparels and accessories, followed by 15% in books (PWC, 2014). This is still very limited. In the future, also other segments, such as food and beverages, furnishing, healthcare, etc. will see their e-commerce activity increased. The supporting logistics are the biggest barrier for the growth of e-commerce. E-commerce has almost no geographical boundaries and India has a huge area to cover ‘ almost 100 times bigger than Belgium. In addition, it’s all about time in this segment. Therefore, there is a huge need for investments in infrastructure, warehouses, etc. At this moment, about 90% of the e-commerce flow is done by air. The main problem here is that this increases the delivery costs. As yet, this problem hinders the sector to ‘boom’ (PWC, 2014). Yet, the prospects are promising. E-tailers are aware of the challenges and have big plans to invest. Till 2017 ‘ 2020, they are going to spend 950 to 1900 billion USD in warehouses and logistic capabilities (Bisen, Singh, & Anand, 2013). These investments can only benefit India. Currently, over 20,000 Indians are employed in e-retailing. Industry estimates show a very big potential, with an additional 75,000 jobs by 2017 ‘ 2020. Bisen, Singh, & Anand (2013) show that the whole e-commerce sector is about to boom and will employ nearly 1.45 million people by 2021. Graph 6: Current and projected employment in E-tailing Conclusion Retail is one of the most vibrant sectors and accounts for 15% of the Indian GDP. The economic value of the Indian retail sector belongs to the top five of all retail sectors worldwide. By 2020, this sector is expected to reach a market value of 1 trillion USD due to the increasing purchasing power of Indians. India is dominated by unorganized retail, which refers to the traditional way of retail: local corner shops, etc. In those shops, products only show a maximum retail price. Sellers can arbitrarily choose a different price for each customer, but his price can’t exceed the maximum price. This has everything to do with the culture of the Indian people, who love to haggle. Nevertheless, organized retail is gaining popularity in the big cities. India already has come a long way to put their retail sector on the map. Until 2011, there was restricted single-brand retail and FDI’s in multi-brand retail were forbidden. In 2012, India formally allowed 51% FDI in multi-brand retail under some strict conditions. Indian States can choose whether they allow foreign investments or not. Consumers are increasingly inclined to e-commerce. In 2012, e-commerce had a market value of 12.6 billion USD. The outlook remains promising, although this sector will face some difficulties. The main problem is the lack of infrastructure.

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1.6: Introduction to the Evolution of Retail

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What you’ll learn to do: Analyze the evolution of the retail industry

Since its birth, modern retail  has significantly changed over time. It is hard to imagine many of the changes that occurred in the 1800s as well as the 1900s as we weren’t alive at that time! However, some of you might be familiar with some of the changes in the 1970s and the 1980s. Just think about how retail has evolved in the last decade.

There has been a dramatic increase in the amount of consumers who shop on computers and mobile devices. Forrester reports that by 2022 e-commerce sales will represent approximately 17% of total retail sales, up from 13% in 2017. As a result, retailers are improving their online presences and integrating traditional brick and mortar and e-commerce experiences for the consumer.

Discussing the origins of retail can help you understand how major trends change the ways retailers operate.

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• Introduction to the Evolution of Retail. Provided by : Lumen Learning. License : CC BY: Attribution

Business Essay Topics to Write with Impact

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Business management is a broad field that covers various topics affecting the management of business operations. It encompasses finance, marketing, sales, human resources, and supply chain management. The principles of business management are applicable to all types of businesses, whether small or large. Here are some topics from our ' Do my essay ' experts that can help you explore this area.

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Organizational behavior studies the behavior of people and organizations in the workplace. Here are some topics to create a thorough business essay example:

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Essay on Retailers: Top 7 Essays | Distribution Channel | Business

Here is a compilation of essays on ‘Retailers’ for class 9, 10, 11 and 12. Find paragraphs, long and short essays on ‘Retailers’ especially written for school and college students.

Essay on Retailers

Essay Contents:

• Essay on Measures to Overcome Competition from Big Retailers

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Essay # 1. Introduction to Retailers:

Retailing is a trading activity directly related to the sale of goods or services to the ultimate consumer for personal, non-business use. A retailer is the last middleman in the machinery of distribution and he is responsible to satisfy recurrent wants of consumers. Retail trade is selling of varied goods in small quantities to the final consumer. There are three distinguishing features of retail trade.

Firstly, The retailer deals in small quantities and his business is usually local in character.

Secondly, retail trade always shows tendency towards variety as it has to satisfy innumerable wants of consumers. A specialized retail shop is an exception.

Thirdly, a retailer, by operating near about the residential areas of consumer, sells his wares directly to consumers. Manufactured goods are worthless until they pass acid-test of retail distribution. The retailer alone can offer safe and reliable goods to consumers.

Essay # 2. Meaning and Definition of Retailer :

The word ‘retailer’ has been derived from the French word ‘Re-tailer’ which means to ‘cut again’. The term ‘retail’ implies sale for final consumption rather than for resale or for further processing. A retailer is therefore the last link between the ultimate consumer and producer.

The important definitions of retailing are given below:

i. According to American Marketing Association, Retailing as “the activities involved in selling directly to the ultimate consumers for personal and non-business use. It embraces direct to customer sales activities of the producer, whether through his own stores or by house-to-house canvassing or by mail-order business,”

ii. According to Stephenson, “Retailer is one whose business consists in the sale to consumers of a wide variety of goods which are assembled at the retailer’s premises for that purpose in sufficient quantity and of wide variety so that all the requirements of a large number of individual and household consumers can be smoothly and efficiently met.”

iii. According to F.E. Clark and C.R Clark, “Retailing includes all forms of selling to ultimate consumers.”

Essay # 3. Characteristics of Retailer:

The main characteristics of retailer are as follows:

i. Goods are purchased and sold in small quantities.

i. Retailers maintain personal contact with the customers.

iii. Under retail trade, goods are sold to ultimate consumers.

iv. Retailers provide all types of goods to the consumers.

v. A retailer makes sufficient shop-display to attract the customers.

vi. Retailers aim at providing maximum satisfaction to the customers.

vii. A retailer is the last link in the chain of distribution of goods to consumers.

Essay # 4. Functions of a Retailer :

A retailer performs the following functions:

i. He purchases goods from different wholesalers.

ii. He sells goods to the consumers according to their tastes, fashions and requirements.

iii. A retailer has to sort out in different lots the goods or products left unguarded by the manufacturers or the wholesalers. He also makes arrangements for proper packing of goods.

iv. A retailer provides credit facilities to the customers.

v. He supplies market information to both wholesalers and consumers.

vi. He displays goods in his store and also makes advertisement.

vii. He has to bear the risk of physical deterioration of goods and fall in value.

ADVERTISEMENTS: (adsbygoogle = window.adsbygoogle || []).push({}); Essay # 5. Services of Retailers:

I. Services towards Wholesalers and Manufacturers:

i. Retailers supply the information about changing tastes and habits to the wholesalers who in turn transmit the same to the producers.

ii. Information about the likes and dislikes of consumers received from the retailers through the wholesalers enable the producers to make suitable adjustments in the design, size and contents of their products.

iii. Wholesalers and manufacturers need not to maintain any contact with consumers as this job is performed by the retailers.

iv. Retailer is an important link between the wholesaler and the consumer.

v. Retailers help wholesalers from difficulties to sell goods to consumers in small quantities.

II. Services towards Consumers:

i. Retailers provide ready stock of goods for the use of consumers.

ii. Retailers provide consumers with a wide variety of choice. Retailers by assembling products of different variety from different producers enable consumers to make choice from a large variety of goods.

iii. Retailers maintain personal contact with the consumers.

iv. Retailers stock fresh goods to meet the daily requirements of consumers.

v. Retailers supply goods to consumers according to their tastes and fashions.

vi. Retailers introduce new products to the consumers and also guide them.

vii. Retailers provide credit facilities to their customers.

viii. Retailers provide after-sale service also, specially in case of electrical goods.

ix. Retailers provide free home-delivery to their customers.

x. Retailers aim at providing maximum satisfaction to their customers.

xi. Retailers provide the facility of taking back from customers goods sold to them if goods are not upto their entire satisfaction.

Essay # 6. Pre-Requisites in the Retail Trade :

The success in retail trade primarily centres around a proper combination of six factors.

i. Location:

The ultimate success of most retail operations is governed by favourable location. Prime location assures continuous prosperity.

Appropriate price strategy can have the greatest market appeal particularly in inflation. Low price with reasonable quality and due service can work wonders in retail trade.

iii. Promotion:

Unique advantages of promotional campaigns explain considerable success in retailing. Retailer is the toughest 3 feet’s (retail counter) in the channel of distribution. If these 3 feet are not crossed (with, the help of sales promotion, e.g., point of sale/ purchase display), all other sales efforts are useless.

Active co-operation between manufacturer and retailer in promotion mix can guarantee flourishing sale, assuming that the product or service is intrinsically sound and price is quite reasonable. Time and money can make promotion effective.

iv. Buying:

A retailer can acquire highly desirable goods, indicating good values to customers, through shrewd buying practices and sound decision making ability. He should act as an expert buying agent on behalf of his customer. Intelligent buying decisions give rich dividend in retail trade. Acid-test of retail success is consumer’s satisfaction, i.e., emphasis on the sale of want-satisfying utilities only.

v. Service:

Retailers give non-price competition essentially through personalized services Prompt and courteous service, quality assurance, sale on approval, money-back guarantee, service after sale, free home delivery, grant of credit, securing goods to satisfy individual taste and liking, offer of expert advice to customer, and comfort and convenience in the store — all these are welcomed by customers and their patronage goes to such retailers who aim at securing profits through service.

The retailer must follow the policy illustrated by such quotations, e.g., The customer is always right. It pays to be customer-minded and the customer is king/queen. ‘He who serves best will profit most emphasize the concept of service not profits’ the chief objective of a seller in the market place. Most customers prefer warm and friendly atmosphere.

vi. Efficient Management:

Better planning, organisation and control can offer efficient retail operations. Proper selection, training, remuneration and motivation of sales force will also assure higher efficiency. If a retailer plans his inventories, in detail, buys and sells according to plan, at the end of the year he will have his predetermined profits.

The goal of a retail store should, by and large, be:

i. To serve the community,

ii. To provide employment opportunities for people, and

iii. To make a reasonable profit.

The success of a retailer depends much on his ability to serve a real need of the people. The retail store has an obligation to its employees.

They have to be well motivated and kept contended. Profit is an important consideration in the management and operation of a store. High taxes, keen competition and increased cost of sales, all have an unfavourable effect on the profits of the retailers.

Efficient stock control, wise merchandise investment, cut in unwanted expenses and general expense control, personalized services to the customers, adoption of modern principles of business management, etc., are some of the progressive measures by means of which retailers can ensure reasonable profit margins. It, however, depends upon the size and capacity of the retailers.

a. Itinerant Retailers :

They are represented by hawkers, peddlers, street vendors, stall holders in fairs and exhibitions. In this form of retail trade, the seller has no fixed locality, but carries his goods from place to place. This form of trade is very old. The hawker is a very familiar figure in our villages and towns, sometimes carrying goods on a wheeled carriage.

The following are the prominent features of such mobile retailers:

i. No fixed place of business.

ii. Require little capital and limited organising effort.

iii. Keep limited stocks on hand and yet quick turnover.

iv. Offer greatest convenience to consumers by giving delivery of goods at the door of the consumer.

v. Easy to start with minimum establishment expenses.

vi. Suitable for the sale of perishable articles such as vegetable, fruits, milk, bread, eggs, etc.

Mobile retailers offer a very keen competition to small-scale fixed retail shops who look upon them with disfavor.

The hawkers and peddlers will continue to exist as long as they offer:

i. Local convenience to purchasers,

ii. Charge lower prices as they have no establishment charges and buy from wholesalers at wholesale rates, and

iii. Sell useful goods through house-to-house canvassing and home deliveries.

b. General or Special Shop :

A small retail shop may be a general shop having a wide variety of goods or it may specialise in a particular line of goods. Grocery shops and provision stores are general retail shops, while radio and jewellery shops are specialised ones. Independent small retail shops-accounted for 80% of all the retail organisations in any country.

However, with the growth of large-scale retailers like multiple shops, supermarkets, department stores, they now account for hardly 60% of the total volume of retail trade and the rest, i.e., 40% is carried on by large-scale retail organisation.

Majority of the retail shops are usually organised as sole traders or partnerships, and are generally owned by households. A unit store or retail shop can also act as a side business or supplementary source of income to many families.

Essay # 7. Measures to Overcome Competition from Big Retailers :

A small retailer suffers from certain handicaps:

i. Unfair price competition from big retailers,

ii. Lack of modem sales promotion devices, e.g., attractive window display.

iii. Inadequate advertising,

iv. Unfavourable terms of purchases due to small orders.

v. Lack of capital, and

vi. Lower capacity of risk-bearing.

The small retailers try to overcome some of these disadvantages in the following manner:

i. Co-Operative Buying:

Bulk purchase is the key to cheaper prices. Group buying can secure more favourable terms and prices because it enables small units to meet chain- store competition. The small retailers may form a co-operative association for conducting joint-purchases on a large-scale basis, and reap the benefits of bulk purchases. This trend is noted in the grocery trade.

ii. Modern Business Principles:

The small retailers may undertake modernisation of their business practices and operations to secure maximum economy and efficiency in their trade.

iii. Cash and Carry Warehouse:

Some wholesalers sell at lower prices instead of the offering credit to retailers and free delivery services. Thus, the small retailers get the chance to buy at cut prices and to sell as low as their rivals in the multiple shops.

iv. Wholesaler’s Specialist Services:

The small shopkeepers can take full advantages of the specialised services of the wholesaler. On goods whose prices are fixed by the manufacturer, the small trader has the same profit as big stores. The big retailers have to perform themselves all wholesaling functions, when they bypass the wholesaler.

v. Co-Operative Groups or Chains:

In fact, on account of development of large-scale retailing wholesalers as well as small retailers have been adversely affected. Therefore, recently both the wholesalers and retailers have united to fight against their common enemy, the large retailers. They form a voluntary or co-operative chain which enable the small traders to get the benefits of large-scale purchases.Essay,

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How to Claim Your Part of a $45 Million Walmart Settlement

A class-action lawsuit accusing the retail giant of inflating prices of certain weighed foods and produce resulted in a settlement. Customers may be eligible for a payment of up to $500.

By Emmett Lindner

Some Walmart customers may be entitled to claim up to $500 as part of a $45 million settlement that the retail giant is paying to resolve a class-action lawsuit, according to a settlement administrator’s website .

The lawsuit, filed on Oct. 19, 2022, claimed that Walmart overcharged shoppers for in-store purchases of certain weighted grocery items, including poultry and pork, and for bagged citrus. The lawsuit accuses the company of “unfair and deceptive business practices” that resulted in higher costs than what were advertised, according to court documents .

The lawsuit alleges that Walmart falsely inflated product weight, mislabeled products and overcharged for clearance products sold by weight.

The retail giant has denied the allegations, but it agreed to the settlement. “We believe a settlement is in the best interest of both parties,” a Walmart spokeswoman said in a statement.

Think you’re eligible? Here’s what to know:

Walmart is accused of overcharging for some weighted items.

The lawsuit claims that Walmart overcharged for certain items. Prices for weighted products, including meat, poultry, pork and seafood, sometimes differed between the item labels and the labels on the shelves, and customers were charged for the higher prices at checkout, according to the settlement.

Other grocery descriptions are said to have been distorted, too. Some bagged citrus products, including navel oranges, organic oranges, organic grapefruit and tangerines, were labeled with a weight that was lower than what appeared on the shelf tags, and customers were charged for a heavier weight of the products than what they took home.

The lawsuit also included some weighted goods that were near expiration, and displayed a price that was lower than what appeared on the register.

How do I find out if I’m eligible for a payment?

Any customers who shopped in a store at a Walmart retail location in the United States and Puerto Rico between Oct. 19, 2018, and Jan. 19, 2024, and purchased the included weighted goods or bagged citrus can apply for a settlement payment through the administrator’s website or by mail.

The deadline to submit any claim is June 5, 2024.

How do I apply, and how much should I expect?

To apply, either fill out the online form on the administrator’s website , or download a form to print and send by mail to an address provided on the form. The form requires claimants to submit contact information, describe the type and number of items purchased, and select a payment option, and gives them the opportunity to upload receipts.

The amount that claimants receive, if approved, can vary. With proof of purchase, shoppers can take home up to 2 percent of the total amount they paid for weighted goods and bagged citrus, with a cap of $500.

I don’t keep grocery receipts from five years ago …

Fear not, you may still receive a little cash, though less than the $500 cap. If you submit a claim without documentation, you can receive between $10 and $25 , depending on the number of relevant items purchased.

When will I find out if I’m approved?

The final approval hearing is scheduled for June 12, 2024. If you qualify for a payment, money will be transferred to you electronically, or by check if requested. The deadline to object or comment on the settlement is May 22, 2024.

Emmett Lindner writes about breaking and trending news. He has written about international protests, climate change and social media influencers. More about Emmett Lindner

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Multi-Brand Retail Online Store Business Plan Essay

Executive summary, mission statement, marketing strategy, startup costs.

This business plan outlines the Project of creating a multi-brand retail online store that will sell products of the light industry in the dropshipping system. Enterprises in China and Turkey carry out retail and small wholesale trade and work on a system of dropshipping to foreign markets. As the range of goods increases, the geography of the online store will also expand. The ultimate goal is to enter the markets of as many countries as possible.

Dropshipping, or drop shipping contract, is one of the business models, the essence of which is that the intermediary does not have stocks of goods in the warehouse but buys them from the manufacturer when he receives an order for it and is paid by the buyer. Either they transfer the order to the wholesaler and then send it themselves, or the order is sent immediately by the manufacturer, while a commission is charged. This framework of organizing the work of an online store is suitable for starting a business in trade, does not require large investments, and also allows testing the market and products. The work of the online store will be adjusted at all stages of work, which will make it possible to declare itself as a high-level service. This will be confirmed by:

• a convenient and understandable interface of the site;
• the ability to filter products by various parameters;
• permanent organization of actions;
• interactive support for website visitors and customers;
• informative and high-quality content and photos;
• provision of guarantees, demonstration of quality certificates;
• prompt delivery.

The target audience of the Project is a population of 23-50 years old, with an average income level. As a rule, these are the people who spend a lot of time on the Internet, are not afraid to take risks and test new services and sites, and for whom the brand is not important for making purchasing decisions. Service customers can afford to wait for a package for several weeks. The core of the target audience will comprise active young people who own pets and are ready to spend money on better items and accessories for them.

The online store will sell light industry goods of the middle price category, produced at factories in Turkey and China using the dropshipping system. Initially, the assortment of goods will consist of Products for cats, Products for dogs, Protection against fleas and ticks, Products for aquarists, Products for rodents and ferrets, Products for turtles and reptiles, Products for birds, Choice of food by breed, Choice of food by disease. Ultimately, the range of products of the online store will also see women’s, men’s, and children’s clothing; later, women’s, men’s, and children’s shoes, accessories, and toys, as well as interior items, dishes and much more will be added. Each category will include a wide range of products, classified by type, name, size, color, and material from which it is made.

With love for the little friends – We care about the full life of pets, so that their life is healthy, long, joyful and harmonious. It is our duty to create the best deal by supporting you and your pets.

The main goal of marketing is to successfully promote products on the market and maximize profit, while a wide variety of tools can be used to achieve it. Therefore, the correct definition of marketing goals will allow the company to achieve success much faster and with less financial costs.

Market goals: to identify promising niches in the product sales market and to gain a significant share of the existing market. To do this, it is necessary to study the most purchased products and develop a strategy for product entry to the market.

Marketing objectives: to create a favorable company image, plan and justify the growth of sales, develop a system of motivation for buyers, ease of use of the site (it is possible to develop a mobile application), think over a system of logistics, delivery and return of goods in order to gain an edge in the competition.

Marketing tools: as the planned business is based in the digital space, online channels of customer acquisition will be engaged. First of all, today’s social media hold an immense marketing potential in terms of the outreach. The number of users of different networks remains on a stable increase, which makes it possible to present the new product to an extended audience. Digital social media marketing will be at the core of the promotional strategy. Targeted advertisements will be purchased and presented in thematic communities attended by per owners with Facebook and Instagram as the key platforms. Next, it will be possible to extend the promotion reach through the use of Google Ads so that relevant entries appear for the queries related to pet accessories and goods. It appears appropriate to concretize these targeted advertisements with specific offers from the dropshipping shop. In other words, instead of a general company-related banner, potential customers will see actual products at compelling prices. Naturally, the best-value offers will be selected for the campaign.

Through this system, the core of the customer base will be formed across the first months of operation. Next, by the end of year one, it is expected to focus on retaining the existing clients, while acquiring a solid referral share. In the first case, those who have already made a purchase will have an option to subscribe to the company’s newsletter and other updates regarding the selection of products. Furthermore, they will have access to exclusive sale offers that will keep these customers engaged with the shop across a prolonged period. The referral system will include considerable discounts for purchases and delivery. Each user of the shop will have a personal promotional code that can be shared with new clients. In exchange, both the sender and the recipient of the code will receive considerable bonuses. Finally, the electronic word of mouth will help the company grow. The expected customer gain is 100% for year two and 50% for year three.

The relatively low startup costs of dropshipping reflect one of the key advantages of this business model. First of all, the logistics of this plan appear easier than most standard stores. In the case of a dropshipping business, the store will serve as the intermediary between the supplier and the customer. However, to enhance the recognition of the new business and build a foundation of the customer base, a storefront appears necessary for the first phase of the project. For this purpose, a small office will be rented in one of the densely populated areas of the city. The increased pedestrian and vehicle traffic will align with a clearly visible brand sign, creating the awareness of the business. At this store, a small storage unit will be included, as well as a front-office to meet the clients and complete their deliveries in person, providing consultations, if necessary.

From one perspective, this business model eliminates the requirement for complex logistics.. Therefore, most of the costs will be related to the marketing procedures that will seek to accumulate a strong customer base. From a theoretical perspective, this business can be launched with $0 as expenditures. Nevertheless, without any investments, the project is likely to remain out of the audience’s sight. The first months will be crucial in terms of encompassing a wider audience of the Internet users through social media. Considering the ambitious marketing goals that target a quick growth of the customer base, the startup costs are expected to amount to $1,000. Next, the list of the required equipment for the office includes two mid-tier computers, storage boxes, and furniture. In order to help with the initial workload, an assistant will be hired so that I do not have to cover all the shifts at the front-office. This way, the workload will spread more evenly, allowing the owner to dedicate sufficient time to the development of the business. Finally, a marketing agency will be hired to build a strong brand image and create prompts for the promotional campaign.

Table 1. Three-year proforma income statement

The planned project has the potential to generate a sufficient level of income, while providing a considerable margin of safety. It can be classified as profitable and effective, with an average level of risk, but subject to the correct adjustment of the work of all components, profitable for investments. The proposed business plan is characterized by a relatively low entry threshold, with the plausible profit gain across 2-3 years. This way, the investments are utilized with the maximum efficiency, whereas major risks are alleviated.

• Chicago (A-D)
• Chicago (N-B)

IvyPanda. (2022, November 17). Multi-Brand Retail Online Store Business Plan. https://ivypanda.com/essays/multi-brand-retail-online-store-business-plan/

"Multi-Brand Retail Online Store Business Plan." IvyPanda , 17 Nov. 2022, ivypanda.com/essays/multi-brand-retail-online-store-business-plan/.

IvyPanda . (2022) 'Multi-Brand Retail Online Store Business Plan'. 17 November.

IvyPanda . 2022. "Multi-Brand Retail Online Store Business Plan." November 17, 2022. https://ivypanda.com/essays/multi-brand-retail-online-store-business-plan/.

1. IvyPanda . "Multi-Brand Retail Online Store Business Plan." November 17, 2022. https://ivypanda.com/essays/multi-brand-retail-online-store-business-plan/.

Bibliography

IvyPanda . "Multi-Brand Retail Online Store Business Plan." November 17, 2022. https://ivypanda.com/essays/multi-brand-retail-online-store-business-plan/.

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