Managing Retail

by Sinha, Piyush Kumar; Uniyal, Dwarika Prasad

• ISBN13: 9780198075943
• ISBN10: 0198075944
• Edition: 2nd
• Format: Paperback
• Copyright: 2012-07-22
• Publisher: Oxford University Press

Summary

Beginning with a historical overview of retailing and a discussion on the theories of retail evolution, the book discusses the opportunities and challenges faced by retailers in India and other developing countries in Asia, as well as the current scenario of the retail industry in othercontinents. It goes on to discuss shoppers and the phenomenon of shopping, retail store formats, store location, category management, and supply chain management. Finally, it discusses retail buying, store layout and design, retail marketing, point of purchase communication, pricing strategies andpolicies, store loyalty, the shop as a social construct, and technology in retailing. The book, with its coverage of real-life case studies such as Woolworth Limited in Australia, Nirantar Agrasar, and Fabmall would also be useful for professionals in managing day-to-day retail operations.

Author Biography

Piyush Kumar Sinha, Professor, Marketing, and Chairperson, Centre for retailing, Indian Institute of Management Ahmedabad (IIMA), has over 30 years of academic and industry experience. Dwarika Prasad Uniyal is currently Associate Professor and Executive Director, Centre for New Consumer Trend Studies, Jindal Global Business School, O.P. Jindal Global University.

Table of Contents

Preface to the Second Edition	p. v
Preface to the First Edition	p. vii
The Domain of Retailing	p. 1
Introduction	p. 1
Retailing Defined	p. 1
Retailing and Development	p. 2
Utilities of Retailing	p. 2
Managing Values	p. 3
History of Retailing	p. 3
Theories of Retail Development	p. 6
Wheel of Retailing	p. 6
The Retail Accordion	p. 6
Melting Pot Theory	p. 7
Polarization Theory	p. 7
Retail Management Process	p. 8
Retail Performance and Profitability	p. 9
Case Study: Food World-A-Market Entry Strategy	p. 15
Indian Retail Industry	p. 28
Introduction	p. 28
Structure of Indian Retail Industry	p. 29
Size	p. 29
Food vs Non-food Distribution	p. 31
Sectoral Classification	p. 32
Infrastructure	p. 33
Human Resource	p. 34
Rural Marketing	p. 34
Foreign Direct Investment in Retail	p. 38
Drivers of Growth	p. 39
Key Challenges	p. 41
Case Study: Nirantar Agrasar Retail	p. 45
Retailing in Other Countries	p. 62
Introduction	p. 62
Retailing-The Global Scenario	p. 62
Retailing in the US	p. 63
Key Factors Affecting Retailing	p. 63
Retailing in Asia	p. 65
Drivers of Growth	p. 65
Sector-wise Growth	p. 66
European Retailing	p. 73
Annexure: Major Global Retail Trends	p. 79
Understanding Shopping and Shoppers	p. 84
Introduction	p. 84
Concept of Shopping	p. 84
Shopping Environment	p. 84
Shopping in a Socio-cultural Context	p. 85
Shopping and the Individual	p. 86
Shopping Process	p. 86
Shopping Behaviour	p. 87
Demographics of Indian Shoppers	p. 88
Psychographic Profile of Indian Shoppers	p. 90
Value and Lifestyle Profile of Indian Shoppers	p. 91
Mediagraphics of Indian Shoppers	p. 93
Behaviour-based Segmentation	p. 94
Attitude-/Orientation-based Segmentation	p. 96
Orientation of Indian Shoppers	p. 96
Work/Fun Typology	p. 100
Shopping Patterns in India	p. 100
Case Study: Muebles-The Home Building Store	p. 107
Delivering Value through Retail Formats	p. 118
Introduction	p. 118
Classification of Formats	p. 118
Ownership-based Classification	p. 119
Store-based Classification	p. 122
Non-store-based Classification	p. 125
Other Retailing Formats	p. 131
Value-based Model of Store Format Choice	p. 137
Deciding the Format	p. 137
Attitude-based Model of Store Format Choice	p. 140
Case Study Planet Health	p. 145
Deciding Location	p. 163
Introduction	p. 163
Process of Deciding Location	p. 163
Trading Area Analysis	p. 164
Analysing the Site	p. 168
Methods of Estimating Demand	p. 171
Space-Sales Ratio Method	p. 171
Proximal Area Method	p. 171
Analogue Model	p. 172
Reilly's Law	p. 172
Huff's Gravity Model	p. 175
Multiple Regression Model	p. 177
Converse's Breaking-point Model	p. 178
Determining Locations for Network	p. 179
Determining Location for Online Retailers	p. 179
Choosing the Best Estimation Method	p. 180
Case Study: Aakash Book Store	p. 182
Category Management	p. 195
Introduction	p. 195
Factors Affecting the Growth of Category Management	p. 196
Changes in Consumers	p. 196
Intensified Competition	p. 197
Advancements in Technology	p. 198
Category Management Process	p. 198
Defining Categories	p. 198
Assigning Roles to Categories	p. 199
Category Strategies	p. 203
Category Tactics	p. 205
Managing Category Mix	p. 212
Category Assessment and Feedback	p. 214
Case Study: Girish Food Store	p. 223
Supply Chain Management	p. 233
Introduction	p. 233
Factors for Successful SCM	p. 234
Drivers of SCM	p. 235
SCM and Competitive Advantage	p. 236
Framework for SCM	p. 237
Supply Chain Network Structure	p. 239
Supply Chain Business Processes	p. 241
Supply Chain Management Components	p. 244
Retail Inventory Management	p. 244
Retail Logistics Management	p. 247
EDI in Supply Chain Management	p. 249
FoodWorld-B: Supply Cham Strategy Introduction	p. 253
Woolworths Limited Australia	p. 279
Retail Buying	p. 324
Introduction	p. 324
Objectives of Buying	p. 324
Organizational Buying	p. 325
Retailer Buying Behaviour	p. 325
Models of Buying Behaviour	p. 326
Becoming a Buyer	p. 327
Responsibilities of Buyers	p. 327
Desirable Characteristics	p. 330
Merchandise and Assortment Plans	p. 330
Merchandise Plans	p. 332
Merchandising Plan for Basic Stocks	p. 340
Open-to-buy Planning	p. 340
Retail Buying Groups	p. 341
Negotiations in Retail	p. 344
Contracts in Retail	p. 345
Benetton's Buying Calendar	p. 349
Snapshots of Contract Agreements Used by Retailers	p. 352
Store Layout and Design	p. 355
Introduction	p. 355
Objectives of Layout and Design	p. 355
Elements of Store Layout	p. 356
Planning and Circulation	p. 356
Circulation Plans	p. 357
Circulation Graphics	p. 357
Storefronts and Entrances	p. 367
Facades	p. 361
Entrances	p. 361
Windows	p. 361
Material for Storefronts	p. 362
Merchandise Display	p. 362
Fixtures	p. 362
Positioning of Merchandise	p. 363
Materials and Finishes	p. 364
Floors	p. 364
Interior Walls	p. 365
Ceilings	p. 365
Lighting	p. 365
Music	p. 366
Graphics	p. 370
Exterior Signage	p. 370
Interior Signage	p. 371
Layout for E-tailers	p. 371
Entertainment	p. 371
Organization	p. 371
Informativeness	p. 372
Case Study: Prerna Stores	p. 375
Retail Marketing Strategy	p. 405
Introduction	p. 405
Building a Retail Brand	p. 405
Affect, Cognition, and Conation	p. 406
Sales Enhancement Strategies	p. 408
Framework for Developing
Strategies	p. 408
Selling Tactics	p. 410
Business Intelligence	p. 410
Aid of Business Analytics	p. 411
Key Success Factors	p. 412
Investment Decision	p. 413
Customer Service	p. 414
HR-Marketing Interface for Customer Service	p. 415
Balanced Scorecard for Better Customer Experience	p. 418
Social Media Marketing	p. 420
Evolution of Social Networking Sites	p. 428
Benefits and Limitations of Social Networking	p. 431
Usage Trends in India	p. 431
Social Marketing in Retail	p. 431
Current Retail Use of Social Media in India	p. 433
Limited Application of Social Media in Retail	p. 433
Case Study: Infibeam	p. 437
Point of Purchase Communication	p. 450
Introduction	p. 450
Convergent or Internal Communication	p. 452
Role of Point of Purchase	p. 452
Role of Packaging	p. 455
Designing Point of Purchase Communication	p. 456
Studies on the Impact of PoP	p. 457
Familiarity and Involvement	p. 458
Mode of Shopping	p. 458
Levels of Information Search and Involvement	p. 459
Store Benefits	p. 460
Expectation based PoP Communication Model	p. 460
Case Study: Stores and Shoppers	p. 466
Establishing a Pricing Strategy	p. 472
Introduction	p. 472
Factors Affecting Pricing Decisions	p. 472
Price Setting	p. 474
Pricing Objectives	p. 474
Pricing Strategy	p. 476
Bases of Pricing	p. 476
Adapting the Pricing Strategy	p. 482
Reference Price	p. 486
Defining Reference Price	p. 486
Benchmarks for Reference Price	p. 487
Impact of Reference Price	p. 487
Reference Price Controversy	p. 488
Empirical Generalizations Regarding Reference Price	p. 488
Implications of Reference Prices	p. 491
Fairness in Pricing	p. 492
Impact of Pricing Strategy on Formats	p. 492
Building Store Loyalty	p. 499
Introduction	p. 499
Store Choice Behaviour of Shoppers	p. 499
Store Choice Behaviour of Indian Consumers	p. 501
Store Loyalty and Patronage	p. 502
Understanding Loyalty	p. 503
Managing Shopper Loyalty	p. 506
Case Study: Crossword-Customer Relationship Management	p. 514
The Shop as a Social Entity	p. 529
Introduction	p. 529
Shop as a Society	p. 529
Tangible Aspects	p. 530
Intangible Aspects	p. 534
Technology in Retailing	p. 537
Introduction	p. 537
Types of Technologies Used in Retailing	p. 538
In-store Technologies	p. 538
Electronic Retailing	p. 542
ECR and Technology	p. 542
Adoption of Technology-Trends and Challenges	p. 543
Technology-Human Interface	p. 544
Case Study: Evolution of Business Models in B2CE commerce-The Case of Fabmall	p. 548
Glossary	p. 555
Subject Index	p. 564
Company and Brand Index	p. 567
About the Authors	p. 569
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