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.