Retail Domain
Retail Industry – Domain Knowledge
Looking for knowledge and key business information on the Retail industry?
TechnoFunc brings to you retail industry overview, business model, value chain, competitive landscape, and latest trends. Retail is the sale of goods and services from individuals or businesses to the end-user. The retail industry provides consumers with goods and services for their everyday needs. This industry is comprised of a variety of stakeholders. Modern retail players offer the flexibility to buy products from around the world to the consumers. Retailing can be done in either fixed locations or online. Retailing includes subordinated services, such as delivery. This sector has its own dynamics and challenges and retail industry players adopt unique strategies to overcome these global challenges in order to offer customers the right products at the right time for the right price. This section is designed to help learners understand key concepts, terminology, issues, and challenges associated with the retail industry, and technologies deployed to meet some of those challenges. It will identify the main sectors of the retail industry and its business drivers, business model, competitive environment, technological advances and the current trends.
Learn the various dynamics and challenges in the domain of Retail Industry. Quickly enhance your business acumen and talk like an expert and impress your stakeholders in your next meeting!
Retail Industry Sectors: Types of Retail
A marketplace is a location where goods and services are exchanged. The traditional market square is a city square where traders set up stalls and buyers browse the merchandise. Now retail goods are generally sold in a number of different establishments. Convenience Stores, specialty stores, department stores, supermarkets & hypermarkets, discount stores, multichannel stores are some models used by the retail industry to provide goods to end customers.
Retail Industry: Current Challenges
Today consumers are choosing multichannel buying experiences and expect that to be a seamless experience. To attract customer loyalty, retailers need to provide an experience that stands out from others. Learn the challenges faced by the retail sector today. Multi-channel sale avenues, changing consumer behavior, technological advances, rising competition, rising frauds, and supply chain management are some of them that require immediate attention.
Retail Industry: Revenue Model
Understand the traditional retail revenue model and, what are the variations in different revenue models adopted by key players in the retail industry. Analyze the pros and cons of various models. The most common and most profitable revenue model is that of the traditional retailer. The traditional retailer profits by selling products and services directly to buyers at a mark-up from the actual cost.
Retail Industry: Value Chain
The retail value chain defines a series of actions that enable businesses to sell their products to customers. Value Chain for any industry describes how an industry is structured and its methods for maximizing revenues. Learn the value chain of the industry. Learn about the key partners, key activities, cost structures, and revenue streams of the retail sector. The value/supply chain analysis reveals the business activities which comprise the movement of retail goods.
Competitive Landscape of Retail Industry
In an increasingly competitive landscape, retail industry players must compete in a number of ways. In this article, we will learn about the competitive landscape of the retail industry. Learn the key players in the retail industry and their business profile. Learn more about the top 5 industry players. Competition is rough, especially for the small business. Knowing how business stacks up to the competition is important to your business strategy.
