RETAIL MARKETING – A PARADIGM SHIFT Retailing is one of the largest sectors in the global economy and going through a transition phase not only in India but the world over. The retail market is segmented as; Specialty store, Department store, Super market, Convenience store, Discount Store, Off price retailer, Superstore & Catalog showroom. Retail market segments: Retail markets are segmented as Apparel, Footwear, Gifts & Toys, Hard goods, Home furnishings, Jewelry and Sporting Goods The profiles of World’s popular retailers are being traced in this paper.
Retail Industry in India: Retailing is India’s largest industry, accounting for over 10% of the country’s GDP and around 8% of the nation’s employment. However, India’s retail sector appears underdeveloped not only by the standard of industrialized countries but also in comparison with several other emerging markets in Asia. In addition, this paper focuses the Growth Drivers in India for retail sectors, Government policy and Technological Impact and Employment opportunities in retail sector in India.
Also the challenges of retailing in India are also referred. E – Retailing is another phase in retailing. This understands the customer demographics and crosses the geographic location. Retail Management: No retail business can be truly successful without the guidance of a marketing plan. Small business owners can easily get too involved in the day-to-day operations of their retail stores to spend any time brainstorming marketing ideas or promotional events.
Some retailers worry that marketing is too expensive, others may find it too time consuming. Here are 50 marketing ideas for retailers. The elements of retailing plans are; Distinct positioning, Defined target audience, Quantifiable goals, Detailed tactical elements, Budget, timetable and responsibilities & Measurability and accountability. Retail segment has witnessed a dynamic change these years. It is true retail marketing, will continue to boom in the long run too.