FASHION RETAILING

COMPARISION OF RETAIL STRATEGY

DONE BY
YASWANTH KUMAR
KUMAR GAURAV
RUSHITHA
HARSHITH
TEJASWINI
RETAIL STRATEGY
A retail strategy would mean a clear and definite plan that the retailer outlines to tap
the market and build a long-term relationship with the consumer.

A retail strategy is a statement identifying.

1.The retailer’s targets market
2.The format the retailer plans to use to satisfy the target market’s need
3. The bases upon which the retailer plans to build a sustainable competitive advantage
Target Market

 The market segment(s) toward which the retailer plans to focus its
resources and retail mix

Retail Format
 The nature of the retailer’s operations—its retail mix.
Sustainable Competitive Advantage
 An advantage over the competition

Elements in Retail Strategy

Customer Loyalty

Customer loyalty means customers are committed to shopping at retailer’s location.

Many of the bases for maintaining sustainable competitive advantage discussed in this
section also help attract and maintain loyal customers

 More than simply liking one retailer over another

 Customers will be reluctant to patronize competitive retailers
 Retailers build loyalty by:
 Developing a strong brand for the store or store
brands
 Developing clear and precise positioning strategies
 Creating an emotional attachment with customers through loyalty programs
 SOCH MAYAVAR
• Soch Circle loyalty program • They don’t have any
is a truly personalized point loyalty program
and rewards based program
conducted by “M/s. Soch
Apparels Private Limited”,
where one can enrol for free
using their valid Indian
mobile number and enjoy
the benefits
Location
 What are the three most important things in retailing?
“location, location, location”

 Location is a competitive advantage

 Location is a critical factor in consumer selection of a

store. It is also a competitive advantage that is not easily
duplicated.
SOCH MANYAVAR

• Less no.of stores in • More no.of stores in

hyderabad hyderabad
• All the stories are in • In major and remote areas
major areas • High density of shops and
make it very difficult for
a competitor to enter a
market and find good
location
 Human Resource Management
Employees play a major role in providing services for customers and
building customer loyalty. Knowledgeable and skilled employees
committed to the retailer’s objectives are critical assets that support
success of the companies

 “Employees are key to build a sustainable competitive advantage”

 Strategies for Recruiting and Retaining Talented Employees
 Employee Branding
 Develop positive organizational culture
SOCH MANYAVAR
• Less no.of employees • More no.of employees
• Very co-operative
• Knowledgeable and
• They maintain very skilled employees.
confidentiality.
Distribution and Information system

All the retailer wants to get their customers the merchandise they want,
when they want it, in the quantities that are required, at a lower deliver
cost than their competitors.
Retailers can achieve these efficiencies by developing sophisticated
distribution and information system.
Soch Manyavar
• Stock keeping Units :- • Stock keeping unit:-
Sarees- 2 Cocktail party wear-1
Salwar- 2 Groom wear- 3
Casual wear-1 Kids wear- 1
Blouses-1
Festive wear- 2
Lehengas-1
Dress material-2 Groom set- 1

• Visual Merchandising change • Visual Merchandising change

every Friday. every Tuesday or Wednesday.
Unique merchandise
It is difficult for retailers to develop a competitive advantage through
merchandise because competitors can purchase and sell the same popular
national brands but many retailers realize a sustainable competitive
advantage by developing private-label brands, which are products
developed and marked by a retailer and available only from that retailer.
Soch Manyavar
Vendor Relation
By developing strong relations with vendors retailers may gain exclusive rights:

1. To sell merchandise in a region.

2. To obtain special terms of purchase that are not available to competitors who lack
such relations.
3. To receive popular merchandise in a short supply.

• Low Cost - Efficiency Through Coordination

• Electronic Data Interchange (EDI)
• Collaborative Planning and Forecasting to
• Reduce Inventory and Distribution Costs
• Exclusive Sale of Desirable Brands
• Special Treatment
• Early Delivery of New Styles

• Shipment of Scare Merchandise

 Customer service
Retailers also build a sustainable competitive advantage by offering excellent customer
service . But offering good service consistently is difficult. Retailers that offer good
customer service instill is importance in their employees over a long period of time.
SOCH MANYAVAR
• 30 days returns, exchange • 15 days returns policy
and money back policy.
• Customer service • Customer service
Representatives are Representatives are
available Mon-Sat- available Mon-sat- 10:00
10:00A.M. to 6:00 P.M. A.M. to 7:00 P.M.