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Chapter 1 Introduction to the World of Retailing

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harold lomeda

on 19 March 2015

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Transcript of Chapter 1 Introduction to the World of Retailing

Chapter 1 Introduction to the World of Retailing

What is Retailing?
Retailing – a set of business activities that adds value to the products and services sold to consumers for their personal or family use.
A retailer is a business that sells products and/or services to consumers for personal or family use.
How Retailers Add Value
Breaking Bulk
-Buy it in quantities customers want
Holding Inventory
-Buy it at a convenient place when you want it
Providing Assortment
-Buy other products at the same time
Offering Services
-See it before you buy, get credit, layaway
How Retailers Add Value
Manufacturer’s Perspective
Distribution Channel
Retailers are a Business Like Manufacturers
Decision Variables for Retailers
Nature of Retail Industry is Changing
Retailing is a High Tech Industry
- Selling Merchandise over the Internet
- Using Internet to manage supply chains
- Analyze POS data to tailor assortments to stores
- Computer systems for merchandise planning
Hot Topic’s Retail Mix
Hot Topic’s Retail Mix
Hot Topic’s Retail Mix
Hot Topic’s Retail Mix
Hot Topic’s Retail Mix
Hot Topic’s Retail Mix
Hot Topic’s Retail Mix
Misconceptions About Careers in Retailing
Don’t need college
Low pay
Long hours
Dead-end job
No benefits
Everyone is part-time
Unstable environment
Why You Should Consider Retailing
Entry level management positions
-Department manager or assistant buyer/planner
-Manage and have P&L responsibility on your first job
Starting pay average with great benefits
- Some retailers pay graduate school
No two days are alike
Buying for financially oriented people
Management for people people
Types of Jobs in Retailing
Most entry level jobs are in store management or buying, but…
retailers also have staff specialists:
--accounting and finance
--real estate
--human resource management
--supply chain management
--public affairs
Prepared by
Audrey Granados
Full transcript