-Retailers account for 10.8 percent of U.S. employment
-Retailing accounts for 10 percent of U.S. businesses
-Most retailers are quite small
-The industry is dominated by a few giant organizations, such as Walmart
2. Choose a retailing mix
Step 2: Choose the Retailing Mix – product, price, promotion, presentation, place, personnel
-Merchandise type and density
-Fixture type and density
-Economic growth potential
Choosing the Type of Site:
-Minimizing wait times
-Managing service capacity
-Improving service delivery
-Establishing channel-wide network coherence
The best retailers have plans in place to recover from
lapses in service. Actions that might be taken include:
-Notifying customers in advance of stockouts
-Implementing liberal return policies
-Issuing product recalls in conjunction with promotional offers
These implications include the strategic alignment of customers segments and supply chain adaptation.
Click-and-Collect: The practice of buying something online and then traveling to a physical store location to take delivery of the merchandise.
2. Social networks will serve as shopping platforms.
3. Brands will double down on Corporate Social Responsibility.
4. Loyalty-wise, the points-for-purchases model will no longer be effective.
5. Retailers will adopt and experiment with technology.
6. Data will be more accessible and powerful.
7. Companies will find better ways to manage risk and protect customers.
8. More retailers will take control of their value chain and improve order fulfillment.
9. More ecommerce sites will set up shop offline.
10. Retailers that localize their product mix and store formats will win.
11. Mobile will continue to grow in all directions.
12. Stores with omnichannel strategies will continue to thrive.