Page 27 - DMGT550_RETAIL_MANAGEMENT

Retail Management

Notes available under one roof; there by we can save our time/effort/money. The retailers trapped
the need and had launched the biggest hypermarkets. Then these retail stores started to sell
food, varieties of products and variety of schemes introduced in order to draw the attention of
the customers.

Example: Big Bazaar, Spencer.

Supermarket Revolution

The revolution of supermarket was first sparked off in the 1920’s, and by the 1950’s it had won
acclaim almost throughout America with its span ranging from a global depression to global
war; this revolution had literally seen it all. In the 1920, one could not even dream of retailing as
it exists today.
Initially, many items used to come in bulk and were sold as it is at the retail outlets. Potatoes
were sold from barrels and later from 100-pound sacks, while sugar was sold from 100-pound
sacks and better in tabs. The retailers were keen to acquire the know-how to upgrade their
quantity and service for the consumers and to develop the best stores possible. They may
become business friends and some even became family friends.

Pleasure of Self-service Concept

By the 1930s, the self-service supermarket gained immense popularity due to the choice leftover
on consumers (house wives). It was sparked off by the success of Michael Kullen, an independent
operator who opened the King Kullen supermarket in Jamaica, New York. Storeowners found
that housewives enjoy the shopping. Because when they are preparing the list of require items
for daily purpose, they may forget, there by again they need to shop. Here picking their groceries
from shelves themselves, piling their purchase into shopping carts and wheeling the carts
through the checkout counters. As supermarkets grew, they extended the self-service concept to
other foods besides groceries.

Example: More 4 U, Big Bazaar.

Globalization of Retailing

Due to the Globalization Foreign investors launched their businesses in India where the
expenditure is very less to start any business in India. The biggest corporate giants entered into
India and disturbed the Indian businesses.

Today, retailers from all over the world are venturing beyond their own borders to establish
stores even in other countries. In fact, the business of retailing cans clearly defined as a global
business. Many retailers have realized and have therefore made international expansion an
integral part of their overall strategy. The immense impact of communication technology has
narrowed the cultural gap between countries over the decades.
Today’s consumers in the developed or developing countries, share almost the same important
characteristics that the best American specialty retailers already understand from their own
domestic experience. Consumers are now far more knowledgeable than ever before about
products, brands and prices that they have ever been in history. The advancement of
communication technologies has made a major contribution towards educating consumers about
the products and services they require and the Internet explosion is bound to further trend.

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