retail formats and mall management

Retail Formats

Retail Formats refers to the various formats of selling retail. This includes• brick-and-mortor retail formats and• online retail formats

Brick-and-Mortor Retail

Format

as the name indicates, refers to

such formats where merchandise

is sold through a real world

store/shop. Examples of such

formats are -

• Convenience store

• Department store

• General store

• Grocery store

• Supermarket

• Variety store

Online Retail Formats• Online Retail Formats, as

the name indicates, refers

to such formats where

merchandise is sold online,

over the web. Examples of

such formats are -• Online Auction Sites like

eBay.com• Online Shopping Sites

like Amazon.com

Mom-and-Pop Represent the small, individually owned and

operated retail outlet. In many cases these are

family-run businesses catering to the local

community often with a high level of service but

relatively small product selection..

Mass Discounters

These retailers can be either general or

specialty merchandisers but either way their

main focus is on offering discount pricing.

Compared to department stores, mass

discounters offer fewer services and lower

quality products.

High Street Format

• It is Located in busy shopping area.

• Area is less than 2000 square feet.

• No parking facility

• Focused Merchandised Category

• Example: M. G. Road in Bangalore

Warehouse Stores This is a form of mass discounter that

often provides even lower prices than

traditional mass discounters. In addition, they

often require buyers to make purchases in

quantities that are greater than what can be

purchased at mass discount stores. These retail

outlets provide few services and product

selection can be limited. Some forms of

warehouse stores, called warehouse clubs.

It is a retail establishment with a building open to the public which offers a wide range of consumer goods such as clothing, housewares, furniture and appliances. It typically offers a choice of multiple merchandise lines, at variable price points, in different product categories. Certain department stores are further classified as discount stores. Big-box stores and hypermarkets have become a modern equivalent to historical department stores

DEPARTMENTSTORES

This retail format is best represented by a small store carrying very specialized and often high-end merchandise. In many cases a boutique is a full-service retailer following a full-pricing strategy

BOUTIQUE

offering customers an easy purchase experience. Convenience is offered in many ways including through easily accessible store locations, small store size that allows for quick shopping, and fast checkout. The product selection offered by these retailers is very limited and pricing can be high.

CONVENIENCE STORES

A store that combines a supermarket and adepartment store. A gigantic retail facility that carriesa big range of products under one roof, includingfresh groceries and apparel. When planned,constructed and executed correctly, hypermartcaters to all routine weekly shopping needs in onetrip

HYPERMARKET

MALL MANAGEMENT

A standard definition of Mall Management could be like “An advanced Building Management System” which includes various aspects of running a mall such as Positioning,Zoning,Facilitiesmanagement, Finance management, Marketing , Corporate Social Responsibility, customer service etc….

Mall management broadly includes1.Positioning of mall• Refers to location of mall.• based on demographics,

psychographics, • income levels, competition in

neighboring areas

2.Zoning Formulating the Right Tenant Mix and Its Placement in a Mall• Tenant mix refers to the combination of

retail shops occupying space in a mall

• Zoning refers to the division of mall space into

• zones for the placement of various retailers.

3. Promotions and marketing

• Activities like food festivals, handicraft exhibitions and celebrity visits increase foot traffic and in turn sales volumes

• Eg:-Ansal plaza, New delhi

4.Facility management

• integration of people, place, process and technology in a building.

• infrastructure mgt• ambiance mgt• Traffic mgt

5. Financial management

• cash receipts and collection of income• developing accounting systems• annual property budget• annual external audit

Issues Related to Mall Management

• Lack of Feasibility/Market Research• Zoning• Design Issues• Few Promotional Activities• Facility Management• Parking