Retailing is the final step of an economic activity and the essence of retailing comprises of selling goods and merchandise from a permanent location (such as a boutique, a kiosk or a departmental store) in small or individual batches to the consumer for direct consumption. Modern retailing does not end there. An array of supplementary services is now provided to the customers along with the shopping experience as value addition. The customers may be individuals or business houses.
In commerce, the key aspects of retail lies in the act of procuring goods in large quantities from the manufacturer directly or the wholesaler or any agent of the producer and selling in small or individual lots to the consumer. Traditionally retail shops were present only on residential streets and shopping streets with few or no houses. Nowadays with the advent of shopping malls one can find an array of retail shops under one roof. The act of shopping usually refers to the act of buying products like necessary items (e.g.- food and clothing) to luxury items like jewelry, house décor etc. Nowadays shopping is also taken as a recreational activity. People often go for window shopping (just looking, not buying). A good retailer is one who can convert these window shoppers to impulsive buyers.
To acquire complete knowledge about retail management this book will be of immense help. The book Written by Dr. Dipa Mitra, Post Doc (Gold), Ph.D.(CU), M.Phil (1st class 1st), MBA, is an Associate Processor and Coordinator of M.Phil. & Ph.D Programmes in related field. She has an shining experience of teaching in Graduate, Post Graduate and scholars doing their researches in Management.
Keeping the ever changing customer demand and dynamic environment in mind, for the beginner as well as for the retail professional this course on Retail Management seems to be mandatory which may guide them to understand the activities, principles, practices, operations as well as strategies associated with this booming sector. This course is a part of management education. In the context of current pandemic situation, this course has been designed to bridge gap between the demand of the students engaged in this course as well as the professionals trying to strengthen their career in this sector and the availability of books or materials available in the market.
