FUNDAMENTALS OF RETAIL MANAGEMENT

OBJECTIVE OF THE PAPER: To develop knowledge of contemporary retail management issues at the strategic level and analyse the way retailing works & application of retailing theory at the business level.

MODULE 1- INTRODUCTION TO RETAILING

Concept, definition, principles. Retailer – functions of retailer.    Retailing in India- four gear path for organised retail trade, segments of retailing, key drivers of retailing in India & reasons for retail growth. Emerging trends in retailing.

Learning Outcome: To describe the complex nature and environment of retail management together with the various segments & key drivers of retailing in India. (08 Hours)

MODULE 2- RETAIL FORMATS & FUTURE OF RETAILING

Retail formats- classification of retail formats. Future of retailing: retailing through internet types, traditional V/s Cyber retailing, online retailing, E- Retailing, career opportunities in retailing.

Store location- Meaning, target market, stages, selection of locality, site analysis, trading area analysis, demand density, supply density, site availability. Errors while selecting store location. Strategies for selection of suitable location. Recent trends in store location.

Learning Outcome: To learn regarding the different types of retail formats & career

opportunities in retailing. (10 Hours)

MODULE 3- RETAIL STORE OPERATIONS

Elements, activities to be performed at store level. Store manager. Centralized retailer. Operations Master schedule (OMS), Store maintenance and strategies for successful retail business. Recent trends in Modern Retailing

Learning Outcome: To understand the decisions retailers make to satisfy customer needs in a rapidly changing and competitive environment. (06 Hours)

SKILL DEVELOPMENT

1. Visit the retail stores in the mall & report the schedule of the product.
2. What are the strategies adopted by the mall for marketing the retail products?
3. Visit a store and evaluate the store layout, design and visual merchandising techniques employed.
4. Evaluate the various retail web sites for the offers provided for the sale of products.