stores format, store layout, space allocation and store size
DESCRIPTION
its a psrt of retail managementTRANSCRIPT
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STORES FORMAT, STORES LAYOUT, SPACE ALLOCATION AND
STORES SIZE
GROUR MEMBERS Group 6
NIZAM JALEELNABEELAAZHAR KPSAJID
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STORE FORMAT
Positioning and differentiation create a distinct image of the store among
its customers
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Store Format by
• Location• Ownership• Merchandise categories• Size• Price
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Store Format by Location:-
• Chain Store Format• High Street Format• Destination Format• Convenience Store Format
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Store Format by Ownership :-
• Franchise Format• Independent format
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Store Format by Merchandise Categories :-
• Family Store• Specialty Store• Department Store• Supermarket• Emporium
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Store Format by Size :-
• Shopping Mall• Shopping Centre• Hyper Market
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Store Format by Price :-
• Discount Format• EDLP Format• Factory Outlet Format• Warehouse Format
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Stores Layout
The layout of a store is the arrangement and location of fixtures, fittings, equipment, merchandise aisles and non-selling areas such as checkouts and dressing rooms.
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Laying out a store
• Three main factors area) Fixtures &fittingsb) Merchandisec) Customer circulation
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Kinds of layouts
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Grid layout
It is often used in supermarkets, aids and directs customer flow and is designed to enhance efficiency
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Boutique layout It arranges the sales floor into partially separated
areas to create an unusual and interesting shopping experience.
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Free flow layout
It encourages browsing and is used most by clothing stores.
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SPACE ALLOCATION• Retailers often place considerable emphasis
on space allocation• Selling area space is at a most retail outlets,
particularly those that depend on high sales volume.
• It is an attempt to optimize the selling area space used with its cost, space for individual lines is allocated as far possible in line with their contribution to sales and profitability
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Approaches to Space Allocation
• Top-down space management approach
Total available store space
Divides the space
Stores product layout
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• Bottom-up Space management approach
Individual Product Level
Category
Total Store
Company Level
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Importance of correct Shelf Allocation
• Improves profitability• Optimization• Maximum exposure• Adequate use of space• Reduce out of stock• More concentrated and less frequent• Automatic elimination of slow moving
products
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Space Planning
• Retailer must consider how much space to devote to each product and at the same time, also keep in mind the physical characteristics of the display area
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Factors to be considered for effective Space Planning
• Profitability of the merchandise• Analysis of Stock to Sales Ratio• Product Shelf Life• Considering the best Presentation Method• Examining the Pack Size• Emphasizing the Focus Category of the retailer• Complementary Neighbours• Future Sales Potential
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STORE SIZEThere had been an increase in the average store size for general merchandise stores. Stores had to make better use of space because rents are rapidly increasing. The largest increase in store size in recent years has been in drugstores. In addition to drugs, these stores sell many different unrelated items such as food products, convenience goods, greeting cards and seasonal items. This phenomenon is referred to as scrambled merchandising.
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Scrambled Merchandising
It exists when a retailer handles many different and unrelated items. It also applies to services , such as ATM’s, Phone cards, and car wash services at convenience stores.
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Category Killer
It is a retailer that carries such a large amount of merchandise in a single category at such good prices that it makes it impossible for the customers to walkout without purchasing what they need, thus killing the competition.
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Adapting the Retail OfferingIt is a bundle of benefits that the customer purchases when entering the store. The offering consists of products and services., the image and reputation of the store and other intangible benefits.
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Size of Business
The size of the business can be measured by the number of outlets or stores that a business operates, which indicates its breadth of its market presence across the country, or by the business’s annual sales, which indicates its total market penetration.
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Advantages
• Deliver greater value to the customer.• Cost advantage over smaller firms.
a) Purchasing and distributionb) Management and personnelc) Marketingd) Financee) Risk
• Restrict the ability of Competitors.