Retail Notes

Retailing

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

Trends in Retailing

  • Personalized in-store experiences are becoming more prevalent.
  • Convenience and speed will increase with technology integration.
  • Privacy concerns are growing as retailers use data to predict shopping behavior.
  • Mobile wallet usage is on the rise.
  • Omni-channel retailing:
    • Connected customers can shop for and purchase the same items across different channels.

Direct Retailing

  • Includes door-to-door sales.
  • Office-to-office sales.
  • Home sales parties.

Direct Marketing

  • Types of direct marketing:
    • Direct mail.
    • Catalogs & mail order.
    • Telemarketing.

Retailing Strategy

  • Retailing mix includes:
    • Customer service.
    • Pricing.
    • Atmosphere.
    • Location.
    • Merchandise.
    • Promotion.

Managing the Factors of Atmosphere

  • Physical Surroundings include:
    • Image.
    • Safety.
    • Temperature.
    • Parking.
    • Spacing.
    • Crowding (+/-) - can have positive or negative effects.

Atmospherics and Shopping Behavior

  • Atmosphere:
    • Layout, design, textures, and senses.
  • Emotional response:
    • Pleasure/displeasure and heightened senses.
  • Behavior:
    • Time spent in store.
    • Affiliation with people.
    • Buying actions.