Retailing is a distribution process, in which all the activities involved in selling the merchandise directly to the final consumer (i.e. the one who intends to use the product) are included. It encompasses sale of goods and services from a point of purchase to the end user, who is going to use that product.
Take Off Aviation and Management Academy in their concise training program will include 1. Introduction to Retailing 2. History of Retailing 3. Evolution 4. Concept 5. Meaning and Definitions 6. Characteristics of Retailing and Retailers 7. Theories of Retailing 8. Features 9. Importance10. Functions 11. Channels 12. Factors Influencing Retailing 13. The Retailing Environment 14. Information Technology in Retailing 15. Importance of Retailing in the Indian Economy.
The retail industry has changed greatly in the last two decades. It used to be comprised of a wealth of small, often family-operated shops, department stores, and shopping malls. Today, however, it is increasingly more common to see people doing their shopping in large mass merchandise stores, specialty stores or online.
In the current scenario, due to the recent economic downturn, consumers have become more price conscious. This has created an environment in which discount retailers have become the stores to prosper. The last major trend in this area has been the move towards direct retailing. Direct retailing is the process of advertising and selling a product directly to a customer. The most identifiable version of this is with infomercials. However, the largest segment by far of this industry is E-commerce, or online shopping. Online shopping has boomed in the last few years with online juggernauts like Amazon taking a large portion of the pie. Between the specific advertising generated by companies such as Google and the lower prices online retailers are able to offer, brick and mortar retailers are having a hard time competing. Additionally, with cell phone applications allowing consumers to walk into a store, scan a barcode and then buy the product online at a lower price, this trend is developing at an ever increasing rate.
Utilizing social media will also be another key aspect for retailers to grow. Social media allows for rapid and mass marketing; through and by the consumer. Consumers can help spread the word more efficiently through social media than other direct marketing methods. In addition, there are a lot of people who follow brands strictly over social media, making it even more imperative for retailers to build and develop their social media presence.