A Study on Operations, Merchandising and Marketing of Retail Stores

Abstract

Retail is India’s largest industry, accounting for over 10 percent of the country’s GDP and around eight percent of employment. Retail in India is at the crossroads. It has emerged as one of the most dynamic and fast paced industries with several players entering the market. The heavy initial investments required make break even hard to achieve and many players have not tasted success to date. However, the future is promising; the market is growing, government policies are becoming more favourable and emerging technologies are facilitating operations. The success of any retail operation is largely based on the retailer’s ability to provide right goods to the customer, at the right place, at the right time and at the right price. The two functions namely merchandising and supply chain management are integral for the existence of any retail organisation. Merchandise management includes analysing, planning, acquisition, handling and control of merchandise investments of a retail operation. Merchandising does not function in isolation. It is affected by various factors like the organisation structure, the size of retail organisation and merchandise to be carried. The function of procurement of the merchandise is integral to the retail organisation , which affect the marketing. Thus, this paper attempts to reveal the focus on the operations, merchandising and marketing of retail stores.