25-06-2013, 04:53 PM
HISTORY OF RETAIL
RETAIL.ppt (Size: 300.5 KB / Downloads: 21)
HISTORY
Retailing began with surpluses. Rather than wasting the food
surplus, it was traded for other surpluses or perhaps tools or
other objects.
Slowly, people with enough land and good produce started
deliberately producing surpluses.
Eventually the informal trade in goods become more organized,
with central markets being formed where these producers could
get together on a regular basis in order to exchange goods.
Due to the unavailability of goods at certain times, people started to owe goods to other people. Early forms of credit may have just been verbal agreements.
As time passed, some traders and producers decided to keep a record of what was owed. One way this was done was by the debtor leaving some collateral with the creditor – some object or an animal that was held by the creditor until the debt was paid.
Why do retailers seek to expand overseas?
– Small size of home markets.
– Slow growth in home markets.
– Escape constraints of local planning laws.
– Market seeking and expansion.
– Economies of scope and scale.
– Sales and profits.
An unsuccessful International Retail operation would lead to:
1. Poor trading performance – sales, profits, market share.
2. Customer attitudes to the brand and shopping behavior
3. Closure of shops
4. Neglect and lack of investment
5. High staff turnover
6. Changing methods of operation (eg from own shops to
franchise)
RETAIL IN INDIA - THE FUTURE
Indian retail industry will gain greater worth
The Retail sector in the small towns and cities will increase
immensely pertaining to easy and inexpensive availability of
land and demand among consumers.
Growth in India real estate sector is also complementing the
retail sector.