Free Retail Industry Articles, Retail Management Articles, Supply Chain Articles - Fibre2fashion

Secret shoppers at the store

Wed, 25 Jan 2012 10:10:38 GMT

Retailers adopt diverse strategies to survive the game. Driven by competition, retailers have realized that satisfying their customers is the key to win the business. They also need to keep abreast of the market conditions, and the strategies of their competitors. Apart from evaluating their competitors, significant self appraisal is also necessary. Mystery shopping is an efficient tool for evaluating the product quality, performance level, knowledge, attitude, and behavior of the sales staff.

Generally mystery shoppers are used for evaluating customer service efficiency. They visit the retail store and behave like any other normal customer, while they keep an eye on the happenings at the store. Once the mystery shopper completes his assignment, he fills in a detailed questionnaire about the store, and submits it to the store owner. This data is used by the retailer to enhance his business such as; improving the store appearance, customer service, staff training, deciding on employee rewards and motivation. Mystery shopping turns out to be an effective tool for measuring sales performance, and customer satisfaction.

Article features views of Mr. Neelesh Hundekari, Principal and Head - Luxury and Lifestyle Practice, AT Kearney India, and Mr. Abhay Gupta, Executive Director, Blues Clothing Company.

"What's the deal of the day?" Fostering retail profits through flash sales

Wed, 11 Jan 2012 10:44:09 GMT

Flash sales are the recent epitome in e-retailing. It offers merchandise on discounts as a limited time offer, through websites. Member of these websites receive intimation regarding the offer through email, postal mail, and social networks. In addition to conventional selling methods, offers are made on websites providing abrupt offers, at subsidized prices, which last only for a limited period of time. These deals offer very attractive discounts which goes up to even 50% off retail prices.

Flash sales have become a crucial aspect of retail business. Retailers can build brand loyalty, and also sell their surplus stock quickly. Customers are of diverse nature. Some customers feel reluctant to go outside and shop, but would be proactive online. Merchandise moves fast when right product is offered at the right time under flash sales. Brands use this option to garner new customers. Having the brand name visible; online would be a good branding tool. This would also help brands to acquire brand recognition in newer markets they plan to penetrate.

Retail has its own unique way to captivate shoppers who seek the thrill of buying in limited time offers. Flash sales are the recent epitome in e-retail sector.

Fine Tuning Retail - Retail takes new spin with concept stores

Fri, 30 Dec 2011 11:37:50 GMT

Art of presentation is crucial for retailing. Retailers have embarked on a new trend to come closer to their customers. 'Concept Stores' are now an upcoming trend in the sector which is giving retail a new spin. In par with current trends, they give a complete solution to the consumers as they not only include a sales model which convinces the shoppers and turns them into their customers, but also possess an emotional model which will satisfy the customers and retain them for a long time.

Concept stores are designed with an intention to give a complete brand experience to the customers employing all tools, and resources to connect with the customer; providing them with a complete brand experience. It appeals to the sense of the shoppers by offering products in a way that blends with the environment. It is a platform combining quality and choice across all merchandise under a single roof. They are designed specially to give first hand shopping experience to their customers.

Staffs at the concept store will have good knowledge and experience in cycling. They take time to discuss regarding the customer preferences, and guide them to make the buying decision.

Retail Migration

Thu, 15 Dec 2011 11:57:45 GMT

Gone are the days when retailers followed innovative approaches to attract customers into their stores. Discreet retailers are rewarded for their long term outlook in business, their maturity with varying consumer preferences, and ability to balance opportunities. Now retailers are rolling the dice, and adopting multiple, and unique strategies wherein they reach the customers, and make the sales happen. What has caused this 'Retail Migration', and how successful would it be?

Rise of the ''Y'' factor in Retail

Tue, 13 Dec 2011 14:18:09 GMT

India has the youngest population profile among other countries. Hailing from the fiery genesis known as 'generation Y', they comprise the fastest growing segment of Indian population. Once considered an 'after thought' for vendors, they are now gaining immense priority. Confident, ambitious, and achievement oriented, their desires, attitudes, and needs can't be ignored. What are their preferences, and how do retailers comprehend and capitalize on them?