Principles of store-based retailing.pptx

It discusses the Principles of store-based retailing

1. Principles of store-based retailing 1 Physical Presence :  A brick-and-mortar location serves as the central point of interaction with customers. Product Presentation:  Carefully curated displays and product placement influence buying decisions. Customer Service:  Sales staff provide assistance, product information, and build rapport with customers. Tangible Experience:  Customers can touch , try , and experience products firsthand.

2. Working models of store-based retailing Product Sourcing:  Retailers purchase products from wholesalers, distributors, or directly from manufacturers. Inventory Management:  Stock control systems ensure optimal product availability and minimize stockouts . Store Layout and Design:  The store environment is designed to be visually appealing, encourage browsing, and facilitate easy product discovery. Sales and Customer Service:  Trained staff assist customers with product selection, answer questions, and complete transactions. Pricing and Promotions:  Pricing strategies and targeted promotions are used to attract customers and influence buying behavior. 2

3. Omnichannel Integration:  Brick-and-mortar stores will increasingly integrate with online channels, offering features like click-and-collect, online reservations, and seamless product information access. Personalized Shopping Experience:  Data analytics will be used to personalize product recommendations, promotions, and loyalty programs. Technology Integration:  Interactive displays, self-checkout kiosks, and augmented reality will enhance the shopping experience. Focus on Experience:  Stores will evolve into experience destinations, offering workshops, events, and entertainment alongside traditional product sales. 3 Future aspects of store-based retailing