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Chapter 1

Chapter 1. RETAIL MANAGEMENT: A STRATEGIC APPROACH. An Introduction to Retailing. Agenda. Importance of Retailing Wal-Mart Retail Relationships Administrative Items. Retailing.

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Chapter 1

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  1. Chapter 1 RETAIL MANAGEMENT: A STRATEGIC APPROACH An Introduction to Retailing

  2. Agenda • Importance of Retailing • Wal-Mart • Retail Relationships • Administrative Items

  3. Retailing Retailing encompasses the business activities involved in selling goods and services to consumers for their personal, family, or household use. It includes every sale to the final consumer.

  4. Significance of Canadian Retailing • Retail sales have seen a general pattern of increases since the fall 2001 - StatsCan • 2004 retail trade valued at $346.7 billion - StatsCan • Preliminary results for consumer spending in 2005 indicated a 3% increase v. LY – TD • Retail represented 6.4% GDP in 2000 – Strategis • In 2004 Retail represented approximately 15% of employment – StatsCan

  5. Recent Trends in Canadian Retail • Increased globalization • New store formats and locations • Increased use of technology • Channel blurring • Changing consumer behaviour

  6. Special Characteristics • Small average sales • Impulse purchases • Popularity of stores

  7. Wal-Mart • Watch the Wal-Mart video and consider: • What does Wal-Mart do well? • Is Wal-Mart the perfect retailer? • Some interesting Wal-Mart sources: • http://www.walmartfacts.com/newsdesk/wal-mart-fact-sheets.aspx#a125 • http://www.pbs.org/itvs/storewars/story.html

  8. Figure 1.10 Applying the Retail Concept Customer Orientation Retailing Concept Coordinated Effort Retail Strategy Value driven Goal Orientation

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