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Facts about Retailing

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Retail Giants

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RPG
 Rama Prasad Goenka (better known as RP
Goenka), starts RPG Enterprises in 1979
 Today, RPG has more than twenty companies
across eight business sectors, with a Turnover
of Rs. 15,000 cr.
 8 Business Sectors are: Power, Tyres,
Transmission, IT, Retail, Entertainment,
Carbon Black, and Speciality
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 Spencer's Retail Limited is one of India's largest and fastest
growing multi-format retailer with 250 stores, including 36
large format stores across 50 cities in India.
 The merchandise ranges from fruits & vegetables, processed
foods (Ready to Eat, Ready to Cook, FMCG
products),specialty foods including international, sugar free,
organic foods, etc...groceries, meat, chicken, fish, bakery,
chilled and frozen foods, garments, consumer electronics &
electrical products, home care, home décor & home needs,
office stationeries, soft toys.

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Pantaloon Retail (India) Limited
 Future Group, led by its founder and Group CEO,
Mr. Kishore Biyani
 has over 1000 stores across 71 cities in India and
employs over 30,000 people.
 The company’s leading formats include
Pantaloons, a chain of fashion outlets, Big
Bazaar, a uniquely Indian hypermarket chain,
Food Bazaar, a supermarket chain
 The company also operates an online portal,
futurebazaar.com.
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 The first set of Big Bazaar stores opened in
2001 in Kolkata, Hyderabad and Bangalore.
 Line of Business: e-tailing, food, fashion,
Home solutions, IT, leisure and
Entertaiment,etc..

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Shoppers Stop
 The foundation of Shopper's Stop was laid on
October 27, 1991 by the K. Raheja Corp.
group of companies.
 With an unparalleled assortment of the leading
international and national brands in clothing
for men, women, and kids; accessories,
fragrances, cosmetics, footwear; home
furnishing and décor products, our stores aim
to provide shoppers a truly international
shopping destination.
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 Shopper's Stop is the only retailer from
India to become a member of the prestigious
Intercontinental Group of Departmental Stores
(IGDS).

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WESTSIDE
 Established in 1998 as part of the Tata Group,
Trent Ltd. operates Westside, one of India's
largest and fastest growing chains of retail stores.
 This story began is 1998 when The Tatas acquired
Littlewoods – a London based retail chain. This
acquisition was followed by the establishment of
Trent Ltd (a Tata enterprise that presently
operates Westside). Littlewoods was subsequently
renamed Westside.
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Lifestyle International
 Lifestyle International (P) Ltd is part of the
Landmark Group, a Dubai – based retail chain
 Lifestyle India began operations in 1999 with
its first store in Chennai.
 Lifestyle has: Apparels, babyshop, the home
centre, shoe mart,, and lifestyle accessories.

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5 Types of Retail Ownership

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 Independent Retailer
Independent retailer is one who builds his/her
business from the ground up. From the
business planning stage to opening day, the
independent retail owner does it all. He/she
may hire consultants, staff and others to assist
in the business endeavor. The opportunities are
endless.

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 Existing Retail Business
Someone who inherits or buys an existing
business is taking ownership and responsibility
of someone else's hard work. The foundation
has already been laid.

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 Franchise
Purchasing a franchise is buying the right to
use a name, product, concept and business
plan. The franchisee will receive a proven
business model from an established business.

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 Dealership
Retailers may find the business model of a
licensed dealership as a mix of franchise and
independent retailer. The licensee has the right
(sometimes this is exclusive) to sell a brand of
products. Unlike a franchise, the dealer can sell
a variety of brands and there generally no fees
to the licensor. Dealerships may or may not be
identified as an authorized seller or by the
company's trademark.
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 Network Marketing
 Multi-level marketing (MLM) or network marketing
is a business model where the selling of products
depends on the people in the network. Not only is a
product being sold, but other salespeople are being
recruited to sell that same product or product line. It's
probably not a type of business one would initially
consider when discussing retail businesses, but
Amway used this model quite successfully for many
years.

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9 Myths of Retailing

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“If You Build It, They Will Come”
 The right product mix, pricing strategy and
store atmosphere will do no good if your customers
don't know you exist. Many new retail stores fail to
properly market their business. The lack of funds or
the wrong advertising campaign can keep your
message from being heard. Even during the hardest
economic times, advertising can be an effective tool.

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“Small Stores Can't Compete With Chain
Stores”
 While it is true that smaller stores cannot generally
compete strictly on price with the large chain stores,
they can still compete. By maximizing the uniqueness
of their business, exceptional customer service and
cozy atmosphere, the small retailer can take a fair
share of the market.

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“Your Best Customer Spends The Most”
 You may have a customer who comes in occasionally
and spends more than the average shopper in your
store. Before declaring him or her as your best
customer, stop to consider the customer who may
spend little, but tells his friends and family about
your business. Referrals and repeat customers are
highly valuable and may add up to much more than
the big-spending customer who shops with you twice
a year.

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“Online Shopping Will Replace Retailing”
 E-commerce is making big strides in the world of
retail. But while it is important for brick and mortar
retailers to have an online presence, there will always
be consumers who want to try things on, feel and
inspect the quality of the merchandise and some
shoppers still prefer the security of paying for
products in person.

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“Moving Your Store Will Hurt Your Business”
 Relocating a business can be expensive and possibly
disruptive, but with some planning it can be the best
thing for your bottom line. Start early and make a
checklist to keep the move organized. Be sure to plan
your relocation marketing focus around retaining
your existing customers, as well as making new
customers in the new location.

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“The Government Has Free Money For Your
Business”
 Television commercials, website ads and general
false information has distorted the half-truth in this
statement. There are grants available from the
government for particular projects but these are
generally for non-profits and educational business,
not for individuals who will use the proceeds to start
their own retail business.

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“The Customer Is Always Right”
 No, the customer is not always right. Sometimes the
customer is quite wrong. Customers make honest
mistakes and sometimes they want something for
nothing. While the customer isn't always right, it's our
job as retailers to make them feel like they are always
important.

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“Good Help Is Hard To Find”
 It may take a little longer, but it is possible to find
excellent employees. Start by writing a thorough job
description. Establish a review system to weed out
candidates that don't fit the bill. Learn interviewing
techniques and prepare a comprehensive training
program. To keep good help once you've found it,
learn how to motivate your employees through pay
and promotion. Staffing your store is easy if you have
a plan.

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“You Can't Make a Living in Retail”
 This one is just completely untrue. The small profit
margin for most retail items may prevent one from
becoming rich, but good sales can generate a healthy
income for someone operating their own retail
business. And for those not interested in
entrepreneurship, there are many, many
positions in retail other than store manager or clerk.
Some retail career fields include buyers,
merchandisers, logistics and sales.

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How To Turn Returns into Sales

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 Listen and Learn: Start the return transaction by
genuinely listening to the customer. This allows the
customer to be heard and it’s your chance to
understand the shopper’s needs. Once the customer is
finished speaking, begin asking any unanswered
questions to establish the reason for the return. Why
is the item being returned? What is wrong with the
item? What end result is the customer seeking? Once
the reason for the return is known, we can offer
solutions to the problem.

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 Offer Suggestions: Now that we understand why
an item is being returned, we can suggest alternative
products or solutions. Would the shopper like a
different style, color or size? Could a similar item
serve the customer’s needs? Do we offer a better
product than the one being returned? If so, make
those suggestions. Be sure to mention the benefits to
the customer. This isn’t just a return; it’s another
opportunity to sell.

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 Cross-Sell (selling an additional product or service
to an existing customer): If no substitution will satisfy
the customer, all is not lost. Depending on the store’s
return policy, it may be possible to offer in-store credit or
gift cards instead of a cash refund. If you must provide a
cash refund or credit card chargeback, consider offering
accessories or related items to the customer. Without being
pushy, mention current specials, best sellers or other
products the customer may need. Is there an additional
item he/she could use?

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 Satisfy the Customer: Not all returns can be
exchanges. Many customers will only want their
money back. That’s okay. After you’ve exhausted the
above selling opportunities and you’ve satisfied the
customer, chances are good that he or she will return
to shop with you another day.

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“An exchange is better than no sale, but
a satisfied customer is more important
than a return policy”.

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How to Build Customer Loyalty

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Satisfy the Customer
 Greet every person as they enter the store

 Let shoppers know you're available for help, if

needed
 Offer your expert advice

 Provide services beyond the customer's expectations

 Thank every shopper as they exit the store.

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Acknowledge the Customer
 Introduce yourself to the customer. He/she

may offer their name as a reply.


 Customers provide their name when writing a

check, paying by credit or filling out forms.

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Reward the Customer
 discount certain items

 free gifts with purchase

 To some customers, a real reward may be a

simple gesture of appreciation

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Follow Up with the Customer
 Send personalized mailings

 Invite them to special in-store events as a VIP

shopper
 Ask about their family or events in their life.

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15 Things Retailers Should
Never Say

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 I Don't Know
"That's a good question. Let me find out for
you.“
 All Sales Are Final
"Let us know if you're not satisfied and we'll
make it right."

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 Calm Down
"I apologize.“
 Did You See Any?
"Yes, we stock that. I'll go see if we have any.“
 We're Closed
"We close at __ o'clock and reopen at _
o'clock. Is there something I can quickly help
you with now?"
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 Will That Be All?
"Did you see our __ that goes with this?" or
"Have you tried __?“
 It's Over There
"Follow me, I'll show you right where it is.“
 I Can't Do That
"What I can do is ___."

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 That's Not My Department
"I'll be happy to get you to the person who
knows more about that department.“
 We're Out of That
"That item is currently out of stock but will be
back in on ___. Can I get your name/number
and call you when it comes in?"

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THANK YOU !!

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