RETAIL CONCEPTS
- The purpose of a retail business is to house,
display and sell goods and services and in
consequence obtain a return on investment
- The retail business is in essence a combination
of marketing, design and many other aspects,
which ultimately results in a final concept
- The retailer needs to be correctly positioned in
the market and needs to communicate and service
that position
- The retail business should reflect the nature
and purpose of the business. This should not only
be the physical appearance but a complete
experience.
- The concept should take into consideration
what is required to operate successfully in the
future, and not rely on historical practices.
The process of developing a retail concept
- Identify the target market
- Review current demographic and economic
factors which might affect the business
- Analyse the competition to assess their
strengths and weaknesses
- Review shopping patterns and purchasing
characteristics of the consumer pertaining to the
particular market and business
- Investigate current retail trends in general
- Analyse the product and services offering
(speciality, convenience, leisure, value or
distinctive products and services)
- Create the right type of market alignment and
supportive environment for the retail business,
including strategic identity, communications,
branding and other design parameters
- Provide layouts that encourage traffic flow
- Fixturing design and placement for optimising
display and flexibility
- Employ merchandise presentation techniques
to generate higher stock turns
- Follow the progress of the retail business
- Adjust ,modify and refine as required
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