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Chapter 1: An Introductory Analysis of On-Site Retailing

Chapter 1: An Introductory Analysis of On-Site Retailing. Retail Development. Colonial Era Trading posts and general stores serve needs Industrial Revolution Era Limited line stores become specialty stores Rise of chain organizations and department stores Contemporary Formats

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Chapter 1: An Introductory Analysis of On-Site Retailing

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  1. Chapter 1:An Introductory Analysis of On-Site Retailing Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  2. Retail Development Colonial Era Trading posts and general stores serve needs Industrial Revolution Era Limited line stores become specialty stores Rise of chain organizations and department stores Contemporary Formats Boutiques, manufacturer’s outlets, discounters, warehouse clubs, and off-price retailers Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  3. Identification of Specialty Stores • A broad assortment of specialized items • Smaller store size • Better customer service Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  4. Department Stores • A fashion retailing mainstay • Full-line department stores • Hard goods (appliances) • Soft goods (apparel and accessories) • Specialized department stores • Apparel and accessory focus • Larger than specialty stores • Increased inventory levels Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  5. Department Store Conglomerates • Increased profits • Decreased expenses • Quantity merchandise purchases • Expansion of private label lines Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  6. The Future of Department Store Retailing Requires: • One stop shopping for needs satisfaction • Personal shopping services • Gift registries for easier gift selection • Dining facilities • On-site alterations Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  7. Off-Price Retail Buying • Vendor merchandise deals • Resident Buying Offices (RBO’s) • Opportunistic Buying Vendor concern: Discarding merchandise while maintaining positive relationships with department store and specialty store buyers. Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  8. Multi-Channels • Used to appeal to multiple consumer markets • Increased profit opportunity • Use of designer shops and outlets Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  9. The Global Scene • Retailers saturating their domestic market seek profitable opportunities in foreign markets • Retailer response to consumer demand in other countries Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  10. Reasons for Global Expansion • Increased overseas travel • Saturated traditional (domestic) trade areas • Increased availability of products • Increased profits Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  11. Caution, Global Expansion Dangers Can Include: • Economic volatility • Exchange rate fluctuations • Local competition may be saturated Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  12. Global Expansion Methods • Wholly owned subsidiary • Increased risk • Increased control • Increased profit • Joint Ventures • Increased knowledge • Reduced resource investment Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  13. Retail Trends Always occurring and changing, retailers must know which consumer trends are emerging, which consumers will be most affected, and the extent these trends will affect the retailer. Then the retailer must respond correctly or risk failure. Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  14. Current Retail Trends-Part 1 • Development of spin-offs to combat competition from specialty stores • Expansion of value-oriented chains to respond to fiscally cautious consumer • Increased use of private labels to establish merchandise exclusivity • Establishment of shop within shop to assist time-restricted consumers Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

  15. Current Retail Trends-Part 2 • Increased use of new concepts to combat oversaturated markets • Exclusive vendor commitments to respond to consumer needs • Expansion through acquisitions Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved

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