retail point of sale (pos) software for billing call @ +91-8286779827

VRS UNIRetail-6 Software for your Big or Small Size Businesses

Inventory Management Software

Retailing According to VRS Software: “Retailing

includes all the activities involved in selling goods or services to the final consumers for personal, non business use”

It is responsible for matching individual demands of the consumer with supplies of all the manufacturers.

Retail Management The various processes which help the

customers to procure the desired merchandise from the retail stores for their end use refer to retail management.

Retail management includes all the steps

required to bring the customers into the store and fulfill their buying needs.

Why retail management ? Retail management saves time and

ensures the customers easily locate their desired merchandise and return home satisfied.

An effective management avoids unnecessary

chaos at the store.

“’Wheel of Retailing”

Low-priced merchandi

se high value store

Trading up mid-price merchandise

mid-range store

High-priced merchandise top range

store

Evolution of retail in India

TraditionalFormatsHaatsMelasMandis

etc.

Established formats

Kirana shopsConvenience/

department storesPDS/

fair price shopsPan/ Beedi shops

Emerging Formats

Exclusive retail outletsHypermarketInternal retail

Malls / Specialty MallsMultiplexes

Fast food outletsService galleries

India's Largest retail Chains: 1. PDS: 463,000

2. Post offices: 160,000

3. KVIC: 7,000

4. CSD Stores:3,400

(source business world marketing White book 2016)

Factors Influencing Retail Management

SocialEconomi

cal

TechnologicalPolitical

Legal

Social how consumers, households and communities behave and their

beliefs. For instance, changes in attitude towards health, or a greater number of pensioners in a population.

Legal the way in which legislation in society affects the business. E.g.

changes in employment laws on working hours.

Economic how the economy affects a business in terms of taxation,

government spending, general demand, interest rates, exchange rates and European and global economic factors.

Political how changes in government policy might affect the business e.g.

a decision to subsidies' building new houses in an area could be good for a local brickworks.

Technological how the rapid pace of change in production process and product

innovation affect an organization.

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