Understand the Business of Retail Essay
Understand the Business of Retail Outcome 1 A.
List the different retail channels and state the main features of each one. Retail Channel| Benefits/Features| Shops| * Lots of choice * Discounts * Sales| Internet| * Free delivery * Quicker * Buy from home * 24 hour delivery * Sales * Register for offers| Warehouse| * Professional products * VAT free days| Catalogues| * Pay weekly or monthly * Order from your home| Salon| * Professional environment * Products and advice| Market Skills| * Very cheap| B.Size and types of retail outlets typically found in a variety of retail locations such as high street or retail business parks. Department store- Marks and Spencers are smaller in outlets and towns, and bigger in cities.
E. g. small in junction 32 outlet, medium in Wakefield town centre and large in Leeds city centre. Understanding The Business of Retail Outcome 2 Understand the range of retail occupations A. State how retail occupations differ between small, medium and large retail business. Small| Medium| Large| Mobile hairdresser| Town Salon| City Salon| Village salon| | Cruise Ship| | Chain salons| Small retail companies/shops have: * Limited stock- Limited sales * Less variety and ranges of products * Do not have big overheads Medium retail companies/shops have: * Offers more choice * Wider range of products * Still limited stock and products Large retail companies/shops have: * Mass amount of stock * Wider range of products * Bigger sales- more profit B+C Identify the entry points and progression opportunities for a variety of retail occupations.
Outline the skills, personal attributes and behaviours required for a range of retail occupations.For task B and C, we were asked to work in small groups to research a retail occupation, outlining the entry points, progression opportunities, skills, personal attributes and behaviours. Once we had researched this, we had to produce a power point presentation and present it to the group.
Understanding the Business of Retail Whilst we watched every ones presentations, we had to make notes on the types of retail occupations and produce a table of information. Retail Occupation| Entry points| Progression points| Skills, personal attributes and behaviour| Customer Service| Don’t need any qualifications.Any training which is needed is provided| Can progress to management.
Many opportunities. | Polite, friendly, helpful, good mannered and cheerful. Must have good personal hygiene and presentation. PPE is important. | Warehouse store operator| No specific requirements. Basic maths and English would help. I. t skills and normal colour vision would help too.
Health and safety experience. Need a licence for a forklift. | It is possible to advance through the industry with the right training.
| Good at working and looking after a team. Good time keeper. Good interpersonal skills.Approachable good at meeting deadlines. | Shelf stacker| No qualifications| Can progress to management| Hard working and helpful. They need good communication and must be trustworthy| Fashion buyer| Retail experience is a start| Management for a department store. Could progress into the supply side as long as you have the right training. | Any type of fashion degree is a start.
Main thing is to get retail experience on the shop floor. Need to be enthusiastic and motivated. You have to be good with money and need to be patient. You need to have good communication skills. Supervisor for a hair salon| No set qualifications. Some may want 2-4 GCSEs/NVQ/Diploma in hairdressing.
| Many opportunities in hairdressing. Senior/managerial position. Move into a different type of business to gain more responsibility and a higher salary. | Need to be able to understand the products/procedures. Need to be able to motivate staff and make quick, effective decisions. Also need to have good health and stamina, and be good at planning. | Understand the retail supply Outcome 3 A- List the sources from which the retailers obtain products * Warehouses Whole salers * Manufacturers * Import items B- Outline the key stages of a products journey through the supply chain Directions Hair Dye- Distribution centre- Warehouse/whole saler- retailer- store room- shop floor- customer- disposal- recycle Outcome 4 Understand the contribution which the retail sector makes to the economy of the United Kingdom A- Outline the size of the retail sector using information such as: * The number of people employed * The number of retail businesses * The amount of money spent by customers every yearUnderstand how customers concerns influence the products and services offered by the retailers Outcome 5 A- Outline the environmental issues of concerns to retail customers 1.
What might retail customers be concerned about to do with the environement? 1. Carbon footprint 2. Packaging and rapping 3. Recycled materials 4. Cost of fuel 5. Pollution B- Outline ethical issues of concerns to retail customers. * List what ethical factors may concern retail customers 1.
Animal testing 2. Fair trade 3. Exploitation of labour 4. Organic productsList the main advantages to retailers of being responsive to customer environmental and ethical concerns * Continuous custom * Creates a positive image of the company * Loyalty cards Task We were asked to look at the L’Oreal website to see how they deal with customers concerns over products and services. Section A L’Oreal use recycled materials.
They are also lowering packaging weight, lowering out carbon footprint, intensifying our ‘green chemistry’ approach, and building a reference guide for raw materials. However, these are only a few of the business’ strategies which they use which may involve working with their suppliers.They have done a carbon disposure project and sustainable packaging. Section B L’Oreal began to use different raw materials in 2009 from the community trade.
These ingredients were sesame seed oil, sugar cane and olive oil. They research into a range of different raw materials which are issued from the fair trade sourcing and they purchase raw ingredients from the Argon tree in Morocco. Section C Their main goals are to build a long-term sustainable relationship with any high performing supplied and then to work with them on a joint improvement programme.