Retail Notes

Retailing

• All activities involved in selling goods directly to the final consumer for their use.
• Includes non-store retailers such as those operating via mail, internet, and telephone.

Trends in Retailing

• Personalized in-store experiences are becoming more prevalent.
• Convenience and speed are increasing, driven by technology integration.
• Privacy concerns are growing as retailers use data to predict shopping behavior.
• Mobile wallet usage is on the rise.
• Omni-channel retailing is expanding, allowing connected customers to shop for and purchase the same items across different channels.

Direct Retailing

• Involves selling products directly to customers through various means:
  • Door-to-door sales
  • Office-to-office sales
  • Home sales parties

Direct Marketing

• Types of direct marketing include:
  • Direct mail
  • Catalogs and mail order
  • Telemarketing

Retailing Strategy

• The retailing mix consists of several key factors:
  • Customer service
  • Pricing
  • Atmosphere
  • Location
  • Merchandise
  • Promotion

Managing the Factors of Atmosphere

• Key factors to manage in creating the right atmosphere:
  • Physical surroundings
  • Image
  • Safety
  • Temperature
  • Parking
  • Spacing
  • Crowding (+/- effects)

Atmospherics and Shopping Behavior

• Atmosphere is created through layout, design, textures, and sensory elements.
• Emotional responses evoked by the atmosphere include:
  • Pleasure/displeasure
  • Heightened senses
• Behavioral outcomes influenced by atmospherics:
  • Time spent in store
  • Affiliation with people
  • Buying actions