Name: Morada, Jecamia S.
These archetypes include:
Year & Section: 1st Year – BSBA 1A
RETAIL MANAGEMENT REVIEWER
Retail - Retail refers to the sale of a good or
service to a consumer for their own use.
Retailer - Anyone who sells products or services to
the general public is referred to as a retailer.
Management - The process of completing the work
or task necessary for achieving an organization's
goals in an effective and efficient way is referred to
as management.
Retail Management - Retail management refers to
the act of managing and operating retail outlets'
daily operations related to the sale of products and
services to consumers.
TYPES OF RETAIL STORES
 Department Store - A section of the store,
or department, in which each product mix is
located, is what makes up department
stores. Hardware, clothing, appliances, and
other things are examples of products.
 Chain Store - Chain stores purchase a
wide range of goods in large quantities and
at reduced costs. These reductions in costs
enable them to set lower prices.
 Franchises - Franchises enable individuals
or groups to carry out particular jobs as
representatives for a company's goods.
 Discount Houses - Discount stores are
establishments where the focus is solely on
price. Products are frequently both
extremely limited and highly varied.
 Non-Store Retailing - The term "non-store
retailing" refers to the sale of goods through
non-traditional retail outlets like online
stores, vending machines, and life
insurance.
 Warehouse Style - The shops typically
have high ceilings and tall racks to store
both inventory and ready-for-sale items.
 Second-Hand - Used goods are sold in
secondhand shops at steep discounts.
THE FUTURE OF RETAIL
Consumers could only purchase products from
retailers with physical stores. Since the advent of
the internet, customers can frequently contact the
source directly. Numerous archetypes that can be
used by both traditional retailers and online
operators have emerged as a result of this
transformation.
 Lowest Cost - Four characteristics make
up the lowest cost archetype: precise
forecasting, flawless online and offline
channel integration, small shops, and lean,
scaled-up operations. Customers who are
on a tight budget and love a good deal are
drawn to this archetype.
 Demand Forecasting - is used to
describe predicting customer
demands to guide operations.
 Integration - Among the online and
offline channels might be:
-Pre-ordering
-Providing discounts to customers
who place online orders and pick
them up in-store
-Self-checkout
-Online transaction
 Convenience-location - According to the
convenience-location archetype, consumers
are likely to be willing to pay more for
specific goods, like snacks or dinner
ingredients, because of the convenience of
a store's location.
 Convenience-Preselection - Stores that
operate on a convenience-preselection
model promise low prices, excellent service,
and convenience in the form of choice.
Shops that want to emulate this model
should provide customers with a small
number of choices that are tailored to their
needs.
 Platform Operator - Even with a large
selection, a retailer can succeed online.
These websites can assist users in locating
the precise product they seek at a very
competitive price. Amazon is a great
illustration of a successful platform operator
model.
Role of Retail Management - The role of
retail management is to look after store
employees, assist in achieving sales
targets, maintain customer satisfaction,
oversee daily operations of the retail outlet,
and support colleagues who may one day
manage retail stores.
Benefit of Retail Management - Creating a
profitable operation for your business that
benefits both the customer and yourself is
the goal of retail management. Retail
management guarantees that customers
can quickly locate their products in-store
and saves time. An organized process
keeps things running smoothly and
maintains employee and customer
satisfaction.
Retail management skills:
 Communication
 Leadership
 Sales abilities
  Product expertise
 Time management
 Teamwork
 Organizational skills
 Problem solving skills
Duties of a retail manager:
 employee recruitment, training, supervision,
and evaluation managing finances
 keeping track of financial and statistical data
 resolving customer inquiries and issues
 maximizing profitability and
establishing/meeting sales goals, as well as
inspiring employees to do so
 ensuring adherence to health and safety
laws
Retail Marketing - The relationship for both
manufacturers and consumers is referred to as
retail marketing. Businesses use this procedure to
demonstrate to customers the worth of their goods
and entice them to buy. Increasing customer
engagement and sales revenue can both be
accomplished by having a solid understanding of
how to use retail marketing. Retail marketing
includes all of the strategies used by consumer
businesses to draw clients and increase sales of
their products and services.
Retailing as Career - Retail careers primarily
involve assisting customers in making product
purchases and resolving product-related issues.
Working in retail may be the ideal career choice for
you if you value interaction with others and possess
strong interpersonal skills.

CHARACTERISTICS OF RETAILERS
 Retailers strive to give their customers the
most satisfaction possible in a small space.
 A retailer's goal is to maximize customer
satisfaction by going above and beyond
their expectations and providing exceptional
services.
 They do not equate better service with
hiring more personnel. When a retailer
attempts to fool the public into believing that
service will enhance because it hired more
salespeople, it is one of the biggest fraud
games in modern retail.
 In contrast to the past, they are investing
significantly more wisely and selectively in
stores than they did in e-commerce.
 To give customers a seamless shopping
experience, they are tightly incorporating
their offline and online channels..
 They provide customers with a fun in-store
experience.

FUNCTION OF RETAILERS
 Increase consumer satisfaction
 Business strategies and practices
 Possess strong risk management
 Advertise and promote
 Goods and products arrangement

CAREER OPTIONS IN RETAILING

 Small business owner
 Product developer
 Retail sales associate
 Marketing Executive
 Brand Manager
 Warehouse Manager
 Merchandiser
 Sales Manager
 Store Manager
 Retail product manager