Retailing can be defined as the buying and selling of goods and services. It can also be defined as the timely delivery of goods and services demanded by consumers at prices that are competitive and affordable.
Retailing involves a direct interface with the customer and the coordination of business activities from end to end- right from the concept or design stage of a product or offering, to its delivery and post-delivery service to the customer.
Retail management includes all the steps required to bring the customers into the store and fulfill their buying needs.
Retail management makes shopping a pleasurable experience and ensures the customers leave the store with a smile. In simpler words, retail management helps customers shop without any difficulty.
Need for Retail Management - Why retail management?
Peter wanted to gift his wife a nice watch on her birthday. He went to the nearby store to check out few options. The retailer took almost an hour to find the watches. This irritated Peter and he vowed not to visit the store again.-An example of poor management.
You just can’t afford to make the customer wait for long. The merchandise needs to be well organized to avoid unnecessary searching.
“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.
Effective Management controls shopliftings to a large extent.
Kash Retailing System can deal with:
Kash Retailing System (KRS) Covers 4 modules: Point of Sales (POS), Franchises, Inventory control (Warehouses) & Clients.
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