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The document outlines key concepts in retail management, including bar coding, e-tailing, and airport retailing, highlighting their significance in inventory management and sales. It discusses the status of the retail sector in India, emphasizing the growth of organized retail and the impact of digitalization. Additionally, it covers the advantages of retail management, green retailing practices, and the role of IT in enhancing retail operations.

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Vrashbhan Singh
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7 views3 pages

Document

The document outlines key concepts in retail management, including bar coding, e-tailing, and airport retailing, highlighting their significance in inventory management and sales. It discusses the status of the retail sector in India, emphasizing the growth of organized retail and the impact of digitalization. Additionally, it covers the advantages of retail management, green retailing practices, and the role of IT in enhancing retail operations.

Uploaded by

Vrashbhan Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Retail management QB

One-Liners

1. Bar Coding – A method of representing data using parallel lines of


varying widths to store product information, aiding in inventory
management and sales tracking.
2. Retail Management – The process of overseeing and controlling retail
stores, including sales, customer service, inventory, and marketing.
3. Airport Retailing – Selling products and services in airport terminals,
targeting travelers with duty-free stores, luxury brands, and travel
essentials.
4. E-Tailing – The process of selling goods and services online through
websites or digital platforms like Amazon and Flipkart.
5. Multi-Channel Retailing – A retail strategy that offers customers
multiple ways to shop, such as online, physical stores, and mobile
apps.
6. Organized Retailing – Retail stores that operate under structured
business formats like supermarkets, malls, and branded chain stores.
7. Green Retailing – The practice of adopting environmentally friendly
business practices in retail, such as using sustainable packaging and
energy-efficient stores.
8. Franchising – A business model where a company allows individuals or
businesses to use its brand name and operational system in exchange
for a fee.
9. Unorganized Retailing – Small, informal retail businesses such as street
vendors, local kirana (grocery) stores, and small shops.
10. Coupons – Promotional tools that offer discounts or deals to
customers, encouraging them to purchase products or services.

Short Notes (5 Marks Each)

1. Status of the Retail Sector in India

The retail sector in India is one of the largest in the world, contributing
significantly to GDP and employment. It is broadly divided into organized and
unorganized retail. Organized retail, including malls, supermarkets, and e-
commerce, is rapidly growing due to urbanization, digitalization, and
changing consumer preferences. The unorganized sector, comprising small
shops and street vendors, still dominates. Government policies like FDI in
retail and the growth of online platforms have further boosted the sector. The
rise of digital payments and quick-commerce platforms is transforming the
landscape, making the retail industry a major economic driver.

2. Airport Retailing

Airport retailing refers to the sale of goods and services in airport terminals,
catering to travelers. It includes duty-free shops, luxury brands, electronics,
and food outlets. This retail format benefits from high footfall and a customer
base willing to spend on premium products. Duty-free shopping is
particularly attractive due to tax exemptions, making it a key revenue source
for airports. The growing number of air travelers, improvements in airport
infrastructure, and an increasing trend of impulse purchases contribute to
the expansion of airport retailing worldwide.

3. Advantages of Retail Management

Retail management ensures the smooth operation of a retail business by


managing sales, inventory, and customer relationships efficiently. Some key
advantages include:

Improved Customer Satisfaction – Helps in better service delivery and


enhances customer experience.

Efficient Inventory Management – Ensures proper stock control, reducing


losses due to overstocking or shortages.

Higher Sales & Profits – Organized retail management leads to better sales
strategies, promotions, and product placements.

Competitive Advantage – Helps businesses stand out by offering better


pricing, customer service, and personalized experiences.

Data-Driven Decision Making – Retail analytics and IT tools assist in


understanding customer preferences and market trends.

4. Green Retailing

Green retailing involves adopting eco-friendly practices in retail operations to


reduce environmental impact. It includes:

Sustainable Packaging – Using biodegradable or recyclable materials instead


of plastic.

Energy Efficiency – Implementing LED lighting, solar energy, and energy-


saving appliances in stores.
Eco-Friendly Products – Selling organic, cruelty-free, or sustainable products
to meet the demand for responsible consumption.

Waste Reduction – Encouraging paperless billing, reusable bags, and proper


waste disposal systems.

Corporate Social Responsibility (CSR) – Many retailers invest in green


initiatives, attracting environmentally conscious consumers.

Green retailing not only benefits the planet but also enhances brand
reputation and customer loyalty.

5. Role of IT in Retail Management

Information Technology (IT) plays a crucial role in modern retail


management, improving efficiency and customer experience. Some key
contributions of IT in retail include:

Point of Sale (POS) Systems – Speeds up billing and checkout processes while
tracking sales.

Inventory Management – Automated systems help manage stock levels,


reducing wastage and ensuring availability.

E-Commerce & Digital Platforms – Online shopping, mobile apps, and AI-
driven recommendations enhance customer convenience.

Customer Relationship Management (CRM) – IT enables personalized


marketing, loyalty programs, and better customer service.

Big Data & Analytics – Retailers use data analysis to predict demand,
optimize pricing, and improve business strategies.

With advancements like AI, cloud computing, and digital payments, IT


continues to revolutionize the retail sector.

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