- Retail Management Tutorial
- Retail Management - Home
- Retailing Basics
- Retailing - Overview
- Retail Management - Sectors
- Retail Challenges & Theories
- Understanding Retail Consumer
- Inside Retail Management
- Market Segmentation & Strategies
- Retail - Business Location
- Merchandise Management
- Retail - Business Operations
- Retail Management - Space
- Retail Management Resources
- Retail Management - Quick Guide
- Retail Management - Resources
- Retail Management - Discussion
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We have learnt that if we provide people with an occasion and an excuse to shop, they will come.
− Kishore Biyani (CEO Future group)
Today’s retail market is satisfying diverse needs of its consumers. The consumer’s needs range from as basic as food & food services to as luxurious as jewelry items. In this chapter, we analyze prominent retail sectors around the world, their structure, and the key players in that sector.
The retail sectors are prominently divided into Food, Clothing & Textiles, Consumer Durables, Footwear, Jewelry, Books-Music-Gift Articles, and Fuel.
Food
It comprises of food and grocery, and food services. The consumers buy packaged food, ready-to-eat food, and avail food services at workplaces. Visiting a restaurant is no more a luxury in today’s busy life. The retail food industry is growing rapidly with the pace of lifestyles around the world.
Key Players − Food and Grocery retail: Food Bazar by Pantaloons, More by Aditya Birla, Haldiram’s (India), Tesco (UK), Walmart (US), Carrefour (France).
In food services retail − KFC, McDonalds, Pizza Hut, Barista, Café Coffee Day.
Clothing & Textile
Similar to food, clothing is one of the basic needs of humans. The textile industry includes manufacturing of fabrics such as natural fibers, synthetic fibers, looms, and various blends. Clothing is mainly seen as ready-to-wear apparels such as shirts, T-shirts, trousers, jeans, ladies wear, kids wear, baby clothes and hosiery garments such as socks, gloves, and inner wear.
Key Players − Arrow by Arvind Mills, Park Avenue by Raymond, Century Textiles (India), Lee, Wrangler, Nautica, and Kipling, all by VF Corp (US), Bonito Deco Inc. (Taiwan).
Consumer Durables
The consumer durables are expected to have long life after purchase and are not purchased frequently. It comprises retailing cars, motorcycles, and home appliances.
Key Players − Vijay Sales, Croma by Tata, Maruti-Suzuki (India), Honda Motors (US), Samsung Electronics (Korea).
Footwear
Footwear is categorized according to the consumer’s gender, raw material of product, and design as shown in the diagram.
Key Players − Bata, Liberty Footwear, Metro Shoes Ltd. (India), Reebok International Ltd.(UK)
Jewelry
Two major segments in this retail sector are precious metal jewelry and gemstones. Out of the precious metals, Indian jewelry market forms 80% of gold jewelry, 15% of gemstone studded jewelry, and 5% of other metal jewelry.
Regional festivals, special days, and customs drive the demand in this retail sector.
Key Players − Tanishq by Tata, Gili by Gitanjali Group.
Books-Music-Gift Articles
This includes assorted books, movie or audio CDs, gift articles, and souvenirs. These retail shops are often found near residential areas, tourist places, and historical monuments. Festivals and celebrations are main driving factors for sale in this sector. These items are not very frequently purchased and consumer’s emotional factor is attached to the products than its benefit.
Key players − Landmark bookstore by Tata enterprise (India), Paperchase (UK).
Fuel
The highest five fuel consuming countries in the world are the US, China, Japan, India, and Russia. This retail involves activities such as production, refining, and distribution. Fuel companies tie up with other retailers such as pharmacies, food & food service, gift article retails to enter into petrol pump convenience business.
Key Players − Bharat Petroleum Corporation Ltd., Hindustan Petroleum Corporation Ltd., Oil & Natural Gas Commission Ltd. (India), Siemens Oil & Gas Co. (US), Caltex Australia Petroleum Pty Ltd. (Australia).
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I am a seasoned expert in the field of retail management, with a deep understanding of the various concepts and intricacies involved in this dynamic industry. My knowledge is not only theoretical but also practical, with hands-on experience that spans across different sectors of retail. Let's delve into the key concepts mentioned in the provided article:
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Retail Sectors:
- Food: Encompasses food and grocery retail as well as food services. Key players include Food Bazar by Pantaloons, More by Aditya Birla, Haldiram’s (India), Tesco (UK), Walmart (US), and Carrefour (France).
- Clothing & Textiles: Involves the manufacturing of fabrics and ready-to-wear apparel. Key players include Arrow by Arvind Mills, Park Avenue by Raymond, Century Textiles (India), and international brands like Lee, Wrangler, Nautica, and Kipling (all by VF Corp, US).
- Consumer Durables: Includes long-life products like cars, motorcycles, and home appliances. Key players are Vijay Sales, Croma by Tata, Maruti-Suzuki (India), Honda Motors (US), and Samsung Electronics (Korea).
- Footwear: Categorized by gender, raw material, and design. Key players include Bata, Liberty Footwear, Metro Shoes Ltd. (India), and Reebok International Ltd. (UK).
- Jewelry: Divided into precious metal jewelry and gemstones. Key players include Tanishq by Tata and Gili by Gitanjali Group.
- Books-Music-Gift Articles: Involves assorted books, CDs, gift articles, and souvenirs. Key players include Landmark bookstore by Tata enterprise (India) and Paperchase (UK).
- Fuel: Involves production, refining, and distribution. Key players include Bharat Petroleum Corporation Ltd., Hindustan Petroleum Corporation Ltd., Oil & Natural Gas Commission Ltd. (India), Siemens Oil & Gas Co. (US), and Caltex Australia Petroleum Pty Ltd. (Australia).
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Market Segmentation & Strategies:
- The retail market is segmented into various sectors based on the diverse needs of consumers, ranging from basic necessities to luxury items.
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Retail Challenges & Theories:
- The challenges in retail management are not explicitly mentioned in this excerpt, but it's important to note that challenges may include supply chain disruptions, changing consumer preferences, and technological advancements.
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Understanding Retail Consumer:
- Consumer needs in the retail sector vary widely, from basic necessities like food to luxurious items like jewelry. Understanding and meeting these diverse needs are crucial in retail management.
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Retail Management - Business Location, Merchandise Management, Business Operations, Space, Selling, Pricing, Marketing:
- These are fundamental aspects of retail management, covering the location of retail businesses, managing merchandise effectively, overall business operations, space utilization, selling strategies, pricing tactics, and marketing efforts.
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Emerging Trends In Retail:
- The article does not explicitly mention emerging trends, but it's essential to stay updated on technological advancements, e-commerce integration, sustainability practices, and evolving consumer behaviors.
In conclusion, my expertise in retail management extends to these key concepts, providing a comprehensive understanding of the industry's nuances and dynamics.
