Download - Domain of Retailing
-
8/6/2019 Domain of Retailing
1/18
Domain of Retailing
-
8/6/2019 Domain of Retailing
2/18
Overview
What is retailing?
Shift in approach
Retail and development Symbolises consumerism
Consumers derive hedonic utility out of
shopping
-
8/6/2019 Domain of Retailing
3/18
Utilities of Retailing
Bucklin classifies utilities provided by retail
into:
Product availabilityWaiting time
Lot size
Variety
-
8/6/2019 Domain of Retailing
4/18
.refined as
Accessibility
Product assortment
Assurance of product delivery Availability of information and ambience
-
8/6/2019 Domain of Retailing
5/18
Choice of channel based on:
Product information
Product customisation
Product quality assurance Lot size
Assortment
Availability
After sales service
Logistics
-
8/6/2019 Domain of Retailing
6/18
Consumer choice- a function ofvalues
Functional values (economic needs)
Social values (need for belongingness)
Emotional values(psychological needs) Epistemic values ( need for novelty and ego
satisfaction)
Conditional values (need arising out of aparticular condition)
-
8/6/2019 Domain of Retailing
7/18
History of Retailing
Cretans
Phoenicians
Romans 12th century Guilds were formed
13th century fairs and markets
Post 1850 retailing institutions originated inUS
-
8/6/2019 Domain of Retailing
8/18
Theory of Retailing
Three main categories of theory
Environmental theory Cyclical theory
Conflict theory
-
8/6/2019 Domain of Retailing
9/18
-
8/6/2019 Domain of Retailing
10/18
Influences of the external environment
Economical
Socio-cultural
Demographic
Technological
Political
-
8/6/2019 Domain of Retailing
11/18
Cyclical theories
Where change follows a pattern and phases
can have definite identifiable attributes
associated with them.
-
8/6/2019 Domain of Retailing
12/18
Most popular Wheel of retailing developed
by McNair in 1958.
McNairs hypothesis attempted to explain the
evolution of retail institutions in a wheel
-
8/6/2019 Domain of Retailing
13/18
Passage
of timeAs time passes,
outlet adds services
As more time passes, outlet
adds still more services
4. New form of outletenters retailing
environment with
characteristics of
outlet in Box 1
1. Outlet starts with:
Low prices
Low margins
Low status
3. Outlet now has:
Still higher prices
Still higher marginsStill higher status
2. Outlet now has:
Higher prices
Higher margins
Higher status
The Wheel of RetailingThe Wheel of Retailing
-
8/6/2019 Domain of Retailing
14/18
-
8/6/2019 Domain of Retailing
15/18
Retail accordion
The contraction and expansion of
merchandise is called retail accordion
-
8/6/2019 Domain of Retailing
16/18
Conflict theories
Where the competition or conflict between
two opposite types of retailers, leads to a new
format being developed.
Conflict always exists between operators of
similar formats or within broad retail
categories.
-
8/6/2019 Domain of Retailing
17/18
It can be applied to development of retailing as
follows:
Thesis
Antithesis
Synthesis
-
8/6/2019 Domain of Retailing
18/18
Antithesis Thesis
Synthesis