“right place, right selection” location is the most vital factor for any enterprise that depends on clients and is usually the prime consideration in a client’s store choice. locations decisions are tougher to change due to the fact stores need to both make sustainable investments to buy and develop real estate or decide to long term rent with developers. whilst formulating a decision about where to locate, the store should refer to the strategic plan:• investigate alternative trading regions.• determine the type of ideal store location• compare alternative specific shop sites? merchandise: The number one goal of the maximum stores is to promote the proper type of merchandise and nothing is more crucial to the strategic thrust of the retailing company. merchandising consists of activities involved in obtaining particular items and services and making them available at a place, time and quantity that allow the store to reach its aims. merchandising is perhaps, the maximum vital function for any retail agency because it decides what finally is going on shelf of the shop.? PRICING: Pricing is a crucial strategic variable because of its direct relationship with a firm’s aim and its interplay with different retailing factors. The significance of pricing decisions is growing because present-day clients are looking for good value once they purchase products and services.
price is the easiest and quickest variable to change? target audience:”customer the prime mover” “customer Pull”, however, seems to be the most crucial driving factor behind the sustenance of the industry. The buying strength of the customers has expanded to a huge extent, with the influencing the retail industry to a great extent, a number of other factors also appear to fuel the retailing boon.? SCALE OF OPERATIONS:The scale of operations includes all of the supply chain activities, which might be executed in the enterprise.
it is one of the challenges that the Indian stores are facing. The cost of enterprise operations is very high in India.KEY players in the INDIAN RETAIL sectorThe untapped scope of retailing has attracted superstars like WAL-MART into India, leaving behind the kiranas that served us for years. Such companies are primarily IT based.
the other important participants in the Indian retail industry are BATA , big BAZAAR , CAFÉ COFFE DAY , KHADIM’S , CROSSWORD , more , star BAZAAR , RELIANCE fresh , SPENCER , GOPALAN MALL to name a few.