The retail process starts from buying, merchandising, marketing through to selling in small quantities to a final consumer. It is an essential component of any industry’s supply chain. For a retailer, getting consumers’ attention is essential, understanding their needs is crucial, and fulfilling these orders is highly paramount. A retail business must run profitably, and economically because the dynamic nature of its socio-economical environment always has an instant effect on how the retail is managed.
Course Overview
The aim of this course is to introduce the effect of ‘the digital age marketplace platforms e.g. Amazon, eBay’ on the organization and design of modern retailing. The course reviews omnichannel and multi-channel as factors that impact the retailing environment and shares techniques for carrying out a critical analysis of other potential contemporary issues to the retailing business.
Business Lab
This course includes exercises, simulations, and case study that will allow you to apply the ideas from this course and develop the required skills in the following areas:
- Use the retailing mix – Evaluate the competition
- 21st-century retailing challenge
- Take the regulations, compliance, and ethics challenges
- Use markup/markdown to set prices for a range of merchandise
- Create a plan for a retail business
