Retail marketing is the business of bringing products from the producers to customers in a retail store. Retail marketing serves as a link between the producers of a product and the end-users and it involves planning, promotion, and presentation of such products. A retailer is one who is into retail marketing and who buys products […]
To run a successful retail business, you have to be abreast of the changes and advancements in technology, change in customers’ tastes and needs, as well as other factors that are changing in the retail market. With that in mind, retailers in 2019 had to follow the following trends to remain relevant in the market. […]
More often than not, it is important to divide a heterogeneous market into smaller and more defined segments based on the similar characteristics that your customers share such as their needs, location, buying behavior, interests and other variables. This is the concept of Retail Marketing Segmentation. Using market segmentation techniques allows you to target your […]
In the business world, on a yearly, monthly, weekly and daily basis, the society keeps changing. Consumers are changing and there are also other changes that occur in processes, outputs or conditions of the market that transform the way we connect and market with our audience. These changes follow a pattern and they are called […]
In businesses, it is necessary to gather data on consumer demands, sales, supply chain movement, inventory levels and other things pertaining to the business and that is what Retail Market Analysis is about; gathering these analytical data that are important for making marketing and purchasing decisions. Retail analysis is an important factor in achieving success […]
Conducting proper research about the industry you want to go into as a retailer is of invaluable importance as it keeps you on track and enables you to focus on the important aspects of both your physical and online stores. Retail Market Research is therefore defined as the continuous process of collecting data about the […]
There are a lot of perceptions about the current state of the retail market and its possible future. A lot of people seem to think that because of the surge in online marketing, the retail market would suffer a massive decline. However, in actual fact, just the opposite is what happens, and this school of […]
Online shopping today is filled with a lot of varieties, and as a result, marketplace retailing is a venture you should want to go into. It has been proven that making use of retail marketplaces helps you to keep having an influx of customers, makes them stay, you gain a higher rate of orders and […]
In the vast market of retailers, your retail market share is the percentage of customers that patronize you, in relation to the whole market. If there are four retailers that serve as your competitors, and 40% of customers purchase that same product from you, then that is your retail market share. A proper understanding of […]
Implementing strategies in retailing entails several factors you have to consider as a retailer. There is need for you to make strategic plans that would aid your competitive position in the market, while judiciously making use of the opportunities and overcoming the challenges in the market. The retail marketing strategy helps you to set your […]
Every aspect of marketing requires a proper understanding of the pros and cons involved. This is necessary in order to be able to fully optimize the marketing type being carried out and to plan ones’ resources accordingly so as not to incur a loss or fail in the venture altogether. Retail marketing is a subject […]
Retail marketing is a form of marketing which has been in existence for a very long time. Ancient trade was in the form of barter, but as civilization set in and the use of currency began, with it came other forms of trade including retailing. Retail trade involves selling goods or services to final consumers, […]