Danish Retail Chains: Are They Taking Advantage of Multi-channel Retail?

Looks like the Danish retail chains are not yet taking advantage of the multi-channel marketing. The advancement in technology has brought forth e-commerce into the picture and conducting business on the online platform has become interestingly very easy and convenient. Multi-channel retail offers a wide range of channels through which the products and services are made accessible to the public at large.

Multi-channel retail then refers to reaching out to the customers through cross channel integration in service, information and management in a systematized and consistent manner. The growth or success of the multi-channel retail totally depends in the hands of the consumer. Consumer of today is a more informed person and hence is capable of taking more informed decisions. Before making any big purchase, he is using a minimum of two to three channels while shopping. Another basic advantage that comes with multi-channel retail is that of the strategic competitive advantage that it has over the other retail outlets.

When the retail outlets can have these and many more other advantages like establishing consumer loyalty and brand images, it is an opportune moment for the Danish retail chains to go in for multi-channel retail. The main reason as to why multi-channel retail and e-commerce are recommended for Danish retail outlets is that they can benefit both from organizational perspective as well as customer related perspective.

As far as the retail outlet is concerned, they could garner more growth and revenue opportunities. There is an increased interaction with the customer and leads to a better customer loyalty through this interaction. Customers too have an advantage with multi-channel marketing as they can choose their channel according to their convenience.

Though there may be a few challenges when trying to switch over to the multi-channel retail system, the thought of going more open and accessible to the consumer at large is what makes the entire multi-channel marketing very appealing to the retail chains. Older the retail outlet, more challenges they are going to face for the transition and vice versa. Therefore, with multi-channel one requires to integrate the disparate systems and technologies that the change brings along with it.

Careers In The Retail Industry

Today, the retail industry is not just expanding, but it is now more organized compared to the early days. This change has compelled many students to take courses related to the retail industry such as retail merchandising and retail marketing. This rising trend is opening up new avenues for the educated and specialized staff of the fashion industry.

The retail industry is a very big business that has plenty of job opportunities. An experienced person in this field can demand a higher salary. So if you are interested in the retail industry, then you certainly have a bright future ahead of you.

Purchasing Power

There is a sudden increase in customer bargaining power and this is why the retail industry is growing at a phenomenal rate. Most retail companies have a buying team, which is generally responsible for launching a profitable product portfolio that will attract customers. Customers are smart enough to analyze the product price and quality. So as a part of the purchase team you have to bargain and get the best possible price from suppliers. If you are a graduate and you have negotiating skills and some basic floor experience then this is the best job for you.

Merchandising

This is a field of work where you have to work in coordination with the purchase team at the head office. Your task involves controlling the operation of the department, analyzing the past as well as current price trends and also maintaining stock records. As a merchandiser, you will forecast future trends with regards to customers’ purchase preferences and also try to figure out competitors’ moves. In order to pursue a career in this field, you should be well aware of the retail market and you should also possess sound numerical abilities with good communication skills.

Design

The main job of a designer is to apply the basics of the latest market trends. As a designer you should be able to display your ideas to the buying team so as to attract customers. You have to update yourself with the latest trends by visiting the foreign market, TV shows, design fairs, fashion shows and also closely monitor competitors. To get this job, you should have a degree in textile or fashion; in addition, you should also possess a creative mind.

Wholesale

In this field, the scope is much wider as it also includes the areas such as the merchandising, sales as well as import and export. So as a wholesaler, your function would be to link the manufacture and the retail circulation. To perform this task you must have a relevant degree in fashion with a commerce degree and some experience.

Technology and Production

Technologists are responsible to maintain quality as per the specifications, with all the legal requirements as agreed to with the buyers. This job is for a person who holds a technical degree in the retail field.

The retail field is not as boring and mundane as it once was. So if you have a creative mind, a bit of experience and retail education, you could have a lucrative and rewarding career.

Retail Property Market Surging in Houston

Houston is America’s 4th largest city. It is better known for its association with oil, but in recent years the city has diversified to become a leading educational, financial, medical and retail center. Today, the retail property market in Houston is generally strong all over the city – including downtown, the suburbs and surrounding area.

There are several reasons for the strong retail property market in Houston. The city has seen steady job growth as well as expansion of its port facilities and substantial investment in major highway projects. Commercial and residential construction has also been strong over the last few years. And Houston has no zoning laws, which generally makes it easier for developers to build in just the right place.

The average occupancy rate of Houston retail centers hovers around 85% – shopping centers built since 1990 tend to have a slightly higher rate than those built prior to that year. Newer shopping centers are generally better designed, offer better parking and are generally more appealing to both potential tenants and shoppers. Rental rates in the Houston retail property market average around $ 1.50 per square foot.

Planned communities, such as Sugar Land in the Southwest and the Woodlands to the north have been successful in both attracting new residents as well as new retail projects. And Houston has been innovative in renovating older buildings to be used for retail and office space.

It isn’t just the suburbs that are booming in Houston – the city has made major efforts in revitalizing its downtown area and attracting residents and visitors. An estimated 4,000 people live in the downtown area – a figure that’s expected to rise to around 10,000 by 2010. Around 70,000 students are enrolled at the various colleges and higher education facilities that are located in and around downtown.

Revitalization of downtown began in earnest in 1995, in an attempt to bring retail, residential and commercial developments to the somewhat run down area. Since that time, around $ 4 billion has been invested in the retail property market downtown. This includes public and private developments – and the successful reclamation of over 1000 acres of land. Improvements such as improved parking and street lighting have also helped to attract tenants and retailers.

Today, downtown Houston boasts around 2.5 million square feet of retail space, much of it concentrated in the historic district, centered on Main Street and Texas Avenue. Notable recent large developments offering retail space include the Reliant Energy Plaza and the Five Houston Center.

Several major new developments are planned for downtown, including Discovery Green and One Park Place – the city’s first high rise luxury apartments in downtown in over 40 years. But the most ambitious project at the moment for downtown is Houston Pavilions, a 350,000 square feet development, planned to open in late 2008 at a cost of around $ 170 million.

One of the most respected local developers of both retail and residential property in the Houston area is the Johnson Development Corporation. The company is responsible for over forty acclaimed residential projects – ranging from golf course communities to townhomes – and almost a dozen retail developments.

Johnson Development was founded in 1975 and the president, Larry Johnson has over 40 years experience in the real estate business. Apart from its successful projects in the Houston area, the company is also responsible for developments in several other states, including California, Georgia and Colorado.

Some of the biggest developments by Johnson Development include shopping malls such as Forest West Center, Jones Square and the South Loop Center. Currently, the company’s biggest retail development in Houston is the huge Steeplechase Mall, offering around 350,000 square feet of retail space.

Johnson Developments is also a top developer in Houston when it comes to residential projects. Their residential projects range in size from single family home communities of 40 acres to townhouse communities and huge golf course communities. One of their biggest developments to date is the prestigious golf course community at Atascocita, a development which covers more than 5,000 acres.

All indications are that the retail property market in Houston seems set to continue with its strong growth – a trend which local companies such as Johnson Development can feel justifiably proud of.

High growing retail franchise business in India attract potential investors

Global corporations engaged in retail sector continuous to employ franchising as an effective way to penetrate Indian market. In fact, India has occupied a nice place in international retail marketing. The country is ranked at third position just behind China and Brazil in terms of net retail sales. Indian market has potential, relaxed rules and regulations and low economic risk. For example, super markets giants operate in various industry sectors have identified India as best destination for investment. According to retail industry analyst, Online Retail franchise is the next level business opportunity which has high potential to prosper in future. After dominating physical market, both national and global players are targeting e-retailing domain to reach maximum population.
In 2016, approximate US $ 512 billion had invested till first half, one of the biggest private equity in retail sector since 2008. E-commerce platform is emerged as unmatched business opportunity for physical store owners, they get chance to sell products across the globe. In India E-commerce is supporting mass retail growth, for instance, in past few years there is number of e-commerce giants started operations to give power to slow retail industry. The industry is estimated to cross a whooping US $ 100 billion by 2020 which was US $ 30 billion in 2016. With emergence of e-commerce platform online retail market segment is expected to touch US $ 70 billion by 2020. Incorporation of various small and large enterprises in retail; transformed whole industry statistics. Companies like Pantaloon India, shopper’s stop, reliance retail and Bharti retail has contributing immensely for vast growth. In next five years, due to changing consumer buying behaviour we might see various national and international brands displaying phenomenal services. Thus Indian retail industry is on the way to become a separate market share in coming years.
India’s 121 billion populations are generating a route to online retail. Increasing participation of people on online shopping has encouraged entrepreneurs to leave physical store by developing their own online retail shop. It goes without saying that whole world is expecting drastic changes in forthcoming years due to continuous transformation in technology, industrialization and consumer choice. For instance, demand for international brands or products have generated a route for foreign brands to penetrate Indian market efficiently. Introduction of governmental reform in retail industry to attract foreign Direct Investment (FDI) has been figured as good move to encourage companies. Apart from this, there are several relaxation were introduced by government in past years to groom retail market in India.

Retail Industry Consultant for Strategic Help You Need to Succeed

Now a days, the retail consumer has become more demanding in terms of buying options and value for money. With high expectations, retail consumers have more options to make purchases. On the other side, the retail sector is facing stiff challenges because of the emergence of new competitors in the globalized market. Increasing infrastructure, maintenance, and marketing costs add more complicity to retail management challenges. Outsourcing Retail Sector Consulting Services comes up as a viable solution for the retail sector.

Critical Challenges resolved by Retail Industry Consulting Firm:

Retail Consultants have to analyze the objectives, existing resources, business plans, existing capability and need to improve the performances according to current and future possible trends. The task is not simple; yet, the exposure to retail industry and experience of serving numbers of retail clients dealing different products help the experts to devise the perfect strategy for improvement. Understanding the demographics of retail buyers in emerging markets is the basic of exercise. Partnering with the right local players help the businesses to know their target clients. Dynamics of online buyers, loyalty programs, and customized promotions is ever changing in a global market. Understanding it is a complex task for the consultants because they need to structure a sustainable supply chain and marketing policy. Improving in-house talent, as well as vital partners, needs a strategic training that requires the involvement of experienced Business Management Training Experts. Experimenting with the new formats and expanding to new channels with innovative concepts is a continuous process, so, the Retail Consulting Firm needs to design long term program to help its clients meet out ever changing challenges.

Help You Can Expect From Retail Industry Consulting Firm:

Retail Management Consultant can’t deliver overnight results but over the time, you start experiencing the benefits. Sustainable innovation policies and advance methodologies improve the processes. Strategic execution brings down the cost besides adding new channels to market your product. Retail Sector Consulting Services assist the clients in addressing the strategic challenges besides enabling them to add new values to their business. Retail Consulting Firms have already helped thousands of industries to sell their products/services in new emerging markets while cashing the new opportunities earlier than others. The proven strategic methodologies, which are customized according to particular industry/trade, help you know your potential clients better and to communicate with them through various drives; it delivers the brand identity in return. Therefore, an involvement of retail industry consultant delivers multidimensional help that any business needs to counter down competitive challenges.

Retail Management Courses In India – The Best Institutes Offering Courses

Retail sector in the country is witnessing a big boom today. As the government prepares to open the sector for international investment, there are many local retail chains which have started organising itself and getting ready for the challenge.

One can now see a number of retail outlets and chains in the country. There are many more which are going to start in the coming future. All these retail outlets require efficient and skilled manpower for their operations. To asses this requirement and to fill the demand for manpower many institutes and colleges across India started courses in retail management.

Benefits and requirements of retail management courses in India

The course in retail management is specially designed to teach all the theories and practical cases which are happening in the retail sector today. Retail management courses in India are offered by various B schools in the country. Some of them offer MBA while most of them offer PGDM course.

There is fundamental difference between the two. MBA courses are offered by those institutes which are recognised by universities and colleges under state and central universities. On the other PGDM course is offered by the autonomous institutions of the country which are built by a special act of parliament.

The admission requirements and eligibility criteria of the courses are very different in the colleges. Most of the colleges which offer MBA or PGDM in retail management in India require a student to have a graduation degree from any reputed institution of the country. The student is also expected to take a national or international level test like GMAT, CAT or XAT. The selected students are then called for a round of group discussions or personal interview.

Those who do well in the GD and PI are then offered full time admissions in the university.
There are many different sub-specialisations within retail management which are taught by the various institutes. These are retail marketing, retail financing, and retail management and so on. There are many new retail chains which are being setup in the country. Hence the job requirements and placements are very high in these institutes for the courses. The students are given good package jobs in various retail firms and companies in India and around the world.

Some of the retail chains also have tie ups with the leading b schools of the country to provide to its man force the adequate training and knowledge about the retail marketing. Hence these employees are also offered part time or executive MBA in retail management. There are many institutes in the countries today which have started offering courses in retail and there are many new colleges which are starting the course to train students with core specialisation in the retail sector.

MBA in Retail Management- Build a successful career in Retail.

The retail industry is growing at a high pace in India and that too with innovative business models. With a number of emerging Indian brands, the penetration of international brands in the Indian market, and many such factors is the reason behind the boom in the retail industry. JDBIMS offers MBA Retail Management, which is a comprehensive course that teaches all aspects of retail management.

Introduction: Functions of Retail Management

The first thing that we notice before entering a store is the window display. The window effects our decision to enter the store a great deal. And who is responsible to make it look attractive? It’s the Visual merchandiser. The look and feel of the store as well as the window of the store is the Visual merchandiser’s job.

Buying the right merchandise, in correct quantity and quality is the merchandiser’s job. A visual merchandiser is different from merchandiser. A merchandiser buys stock and deals with distributers, manufacturers and designers. Retail supply chain management are related to product procurement and controlling product quality, inventory levels, timing, and expenses. Logistics are also involved in moving the product from source to destination, handling and storing them.

Other functions include applying retail communication mix for promoting and selling the products, human resource and training, finance and administration, information technology and customer contact service.

About MBA in Retail Management
MBA in Retail Management at JDBIMS SNDT Mumbai is a 2 year full time course. This course is ideal for a student who seeks a career in the retail sector, for professionals who aspire to grow in the industry. The function of retail industry such as supply chain management, merchandising, store management, visual merchandising, are a number of opportunities to build one’s career in the retail sector. This course will help you understand retail industry and help you chose the job profile that suits you the best

Highlights of MBA Retail Management at JDBIMS

Sectoral Specialization
Internship (Summer and Winter)
Concurrent Fieldwork undertaken on two days a week
Emphasis on research project. Every student undertakes a yearlong research
Business Ethics an integral part of the course
Sound theoretical insights about managing modern retail business.

Broad Objectives
A student who completes this retail management course would be industry ready to contribute and manage the various functions in a retail environment. The programme is designed to enable the learner to gain hands-on experience and practical exposure as well sound theoretical insights about managing modern retail business.

Using POS Systems For Retail Stores

For customers, it is very important that they have a good time at the retail store they are shopping at. Retail pos systems are a great way of making life easier for both your customers and your sales team. A good pos retail system is the best way to stay a step ahead of the competition. These POS retail systems will help your business grow by bringing in track inventory in real time, and this is one of the biggest reasons why retail pos systems have taken over conventional cash registers.

The excellent features and functionality provided by retail systems like grocery store pos systems make the running of a store easier in several ways. CRS Solutions is your one step solution to finding the right kind of retail pos system that will help boost your sales and make your business grow in popularity.

Choosing good retail POS systems?

At the core of every pos system used in a store, is a range of avant grade hardware that includes LCD screens, rear displays, raised keyboard, cash drawer, receipt printer, credit card reader, bar code scanner and retail pos software. Even a simple grocery store pos system is a mix of hardware and software. When you choose a retail pos software, you need to choose good software vendors like CRS Solutions that can provide you with customized solutions for your retail needs. CRS Solutions offers you great choices of pre-configured and customized software solutions so that you can add applications and hardware as your business grows. Popular components in such retail pos systems are thermal printers that can provide fast printing service. Single printer models work best with receipt-only applications, and there are two-printer models that can not only print receipts but also records your journals electronically in the register’s memory. This journal can then be archived electronically for printing at a later date or stored on SD cards for future use. This feature also allows for quick auditing functions that can make your work much easier at a later date.

Streamlining operations with your new POS retail system

From grocery store pos systems to retail systems for large malls, the right kind of pos systems for retail will enable you to control your business much better and increase the efficiency levels of your business. In business, increasing efficiency almost always translates to better profits and this allows you to streamline operations including inventory and vendor management.

Holiday Jerks, Clerks, Retail Pros and the 35% Difference

There will be three types of specialty store employees working this Black Friday weekend. The first type is the jerk. The second type of specialty store employee is the clerk who facilitates the customer’s transaction. The third type is the retail pro who will deliver an amazing customer experience to each and every customer this weekend. Here are three other major differences between the holiday jerk, clerk and retail pro.

There will be three types of specialty store employees working this Black Friday weekend.

The first type is the jerk. They hate working retail, so of course they’ll be extra miserable this weekend. I know you’re not a jerk because jerks don’t take the time to read this article.

The second type of specialty store employee is the clerk who facilitates the customer’s transaction. They’ll make sure customers find what they need or want, and will get them rung up and out the door. Clerks are nice people, but they miss a lot of opportunities.

The third type is the retail pro who will deliver an amazing customer experience to each and every customer this weekend. It will be fun and rewarding for both the customer and for the pro. Retail pros create many additional opportunities.

The biggest difference between the clerk and the retail pro is a 35% or more swing in sales. That’s right; it can be that much of a difference. I know, because I see it with my consulting clients.

Here are three other major differences between the holiday jerk, clerk and retail pro:

1. First impressions

A jerk will ignore customers, hoping they go away. Most will.

A clerk will say, “How may I help you?” to virtually every customer who walks in the door.

A retail pro will warmly welcome each customer into the store. The pro knows that asking a question that leads to the answer, “Just looking” is an impediment to delivering a great experience and making a sale.

2. Helping the customer

A jerk will point the customer to what they’re looking for.

A clerk will find out what the customer is looking for and take him/her to it.

A retail pro will always focus on the customer’s shopping list, not the single item he/she is looking for. Retail pros sell more by focusing on who, not what. They will also give the customer an opportunity to buy something for her/himself.

3. Adding-on

A jerk never bothers to add-on. That takes too much time and effort.

A clerk might suggest one additional item after asking, “Will that be it?”

A retail pro, like the jerk, doesn’t bother to add-on, either. That’s because the retail pro SELLs ON. The retail pro never asks, “Will that be it” because she knows that question stops the sale. The retail pro keeps showing products and delivering a fabulous experience until the customer says that will be it.

4. Final results

Stores staffed with jerks will have a pretty tough weekend. Of course it won’t be the jerk’s fault. It never is.

Stores with clerks will work extremely hard to get close to last year’s numbers, and maybe even exceed it.

Stores with retail pros will more than likely blow past last year’s sales and this year’s goal. They’ll prove that people still enjoy shopping in stores where the staff cares and the experience is different.

So let me ask, will you be a retail pro this weekend? Follow the above suggestions and you’ll see the results. Who knows, maybe 35% or more!

3 Points To Be Noted While Buying House ERP On Cloud For Retail Businesses

Since the time information technology has been harnessed by people, businesses and enterprises have seen a boom time. Various business establishments are trying to harness these resources for their benefit, so that there is better management of time, money and personnel. The most recent beneficial move in terms of information technology has been in the matter of cloud computing.
Small and medium scale enterprises are getting together to get their space in this cloud and conduct their business. Retail management solution on cloud has become a common thing with systems like ERP or Enterprise Resource Planning, CRM or Content Resource Management, POS or Point of Sale, etc. These are systems that are required to be available for carrying out an effective and efficient retail business. If retail software on cloud is available, then there can be easy integration of the supply, returns, customer services, product sale and financial management.
Although cloud retail software or home buying software will instil a new way to conduct the business, the retail solution on cloud requires the enterprise owners to take care of few aspects when buying house software on cloud or retail ERP on cloud. It is known that the cloud provides a space for the designated businesses. But then, there are things that the business owners should be alert and knowledgeable about.
* Retail management solution on cloud will require backup and security when their data is present in the could computing system. For this, those buying house ERP on cloud should check for power and network outage backup, 24×7 customer care services, and time bound assistance. Data backup, virus scans, online security checks, firewalls, etc are supposed to be in place when the retail solution on cloud is provided.
* Checking the usability of the ERP on cloud is another point that should be noted by those who are buying house ERP on cloud. Software that is to be utilised in retail or buying house should be user friendly. Also, there should be easy accessibility of the applications in the cloud, which the workers in the business or enterprise can find out quickly in case of applying for the business. If the enterprise resource planning is done properly, then the logistic issues will become easier and retail enterprises can lower their distribution costs and charges. The software for retail should be therefore sought out properly and with sufficient promise of performance.
* Retail solution on cloud should also include sufficient scalability options. The core of retail business is based on quick service and immediate availability. For such businesses which are aiming to expand, with the right retail management solution on cloud, one can quickly order for items to be refilled and check on the status of the products that are being sold. Tier-4 data centre is to be provided through the cloud retail software, so that sufficient data can be stored and if required, it can be scalable.
Plenty of features are necessary for a retail business to grow and all of these will be possible through the right retail software on cloud. ERP on cloud, POS on cloud and various other retail solutions on cloud can be used to bring prosperity to the business, for both small scale and large enterprises.