BUAD301 Lecture Notes - Lecture 12: T.J. Maxx, Bluetooth, Shopping Cart

• School: University of Delaware
• Department: Business Administration
• Course: BUAD301
• Professor: Townsend Donald

Document Summary

Retailing: the process of organizations selling goods and services to consumers. The evolution of retailing- retailing has taken many forms over time. As economic, social, and cultural climates change, different retail types emerge squeezing out outdated models. The wheel of retailing (shown to the right ) Economic downturn (2008) had great impact on retailers. Lowered consumer confidence = less discretionary spending. Some retailers responded by allocating more shelf space to private brands. More dual-career families place greater emphasis on convenience. Increased number of locations and format, extended hours. Ethnic diversity: adjusting retail mix to attract consumers in areas with high concentration of ethnic population. Experiential merchandising: tactic whose intent is to convert shopping from a passive activity into a more interactive one by better engaging the customer. Destination retailer: firms consumers view distinctive enough to become loyal to. Revolutionizing retailing: associates carrying ipods to ring up sales, electronic. Pos systems feed data for inventory control, rfid tags, e-menu, e-commerce.