From the picture above ,we all know this hypermarket are quite famous in our country in Malaysia.
Retail is a part of business which includes customer and retail only . In a simple words that retailer has much convince the people to come to their places but certain promotion tools in common .
In definition retailing is set of business activities that adds value to the products and services sold to the consumers for their personal or family .
Role of retailers are the final business within supply chain which links manufactures to consumers .
Basic thing that we know about retail is about their supply chain , from the figure above we all know that the typical supply chain distribution .
The role of supply chain is a set of firms that make and deliver a given set of goods and services to the ultimate customer . E.G. Giant hypermarket sold products to the end user without any broker or agent . Its simple supply chain about retail .
What retailers do ?
Provide Assortment , Break Bulk , Hold inventories , and offer services
W\e take Giant Hypermarket as example thats provide variety of products at their store such as groceries , household and etc .Its give a lot convenience to customer to buy their own needs and wants in one stop .On my opinion the retailer give a lot variety of product .The big retailer such as Giant has their own products such as mineral water ,sugar , soap and so on .Giant also have their own store to hold their inventories same as the other big retailer do .The offer and services that offer by Giant hypermarket is same to the others retailer such as give their shop much convenience places such as playground for kids , debit and credit for the payment and etc .
Corporate social responbility
The voluntary action taken by a company such as Giant Hypermarket .
This is the article from Giant websites .
http://www.giant.com.my/about-us.aspx
In the first week
I have study more about the retail in short learning . There are vertical integration and backward integration. Vertical integration is that the firm perform more than one set of activities in the channel.For example Tesco Extra invest in wholesaling and manufacturing. For the Backward integration retailer perform some distribution and manufacturing activities, for example Guardian sold another brand at the outlet.For the forward integration manufactures undertake retailing activities such as Samsung as a manufacturer also a seller .
The career in Retailing Opportunities
Finance
Purchase
Accounting
Management information system
Supply management including warehouse and distribution management
Design and new product development
Retailer strategy
Need to identify the competition
There are two type of strategy which is intratype competition which is the retailer sell the same product assortment and the intertype competition the retailer sell the different type of products.
Firstly the retailer must have to identify their customer. What are significant demographic and lifestyle trend. Secondly, the must know the product and service mix to offer to the customer and the make a long term comparative advantage of the retailer .
Decision variable for retailers
A retail store's profitability is contingent, to some degree, on the performance of the retail buyer. The present research examines selected constructs from a model (Sheth 1981) that serve as heuristic devices used by retail buyers of fashion goods that may influence the decision-making process of the buyer. The decision reached affects the performance of the retail buyer which is judged by gross margin return on inventory investment. Based on the results from questionnaires distributed to department store buyers, the major influences on gross margin return on inventory investment are type of merchandise the buyer selected, type of buying decision, job experience and training received by the buyer. These findings are not only useful in the development of a retail buyer behavior model, but also in executive training programs .
The element makes retailer to decide which is the retailer must use the element to ensure their retailer store will be on the right track . The customer service must satisfy the customer needs and wants. the merchandise assortment are that the customer nowadays wants a variety product. For example they sell pen, they have to sell book and so on the give more variety at their store. The location part is that the location must accessible to the road network or highways. The communication mix are the promotion such as use advertising ,website , poster , banner and so on. The pricing factor refers to the level of their target market. The store design and display depend on the retailer on what they want to display based on the their business plan .
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