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Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved Chapter 1: An Introductory.

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Presentation on theme: "Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved Chapter 1: An Introductory."— Presentation transcript:

1 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Chapter 1: An Introductory Analysis of On-Site Retailing

2 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Retail Development Colonial Era Trading posts and general stores serve needs Industrial Revolution Era Limited line stores become specialty stores Rise of chain organizations and department stores Contemporary Formats Boutiques, manufacturers outlets, discounters, warehouse clubs, and off-price retailers

3 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Identification of Specialty Stores A broad assortment of specialized items Smaller store size Better customer service

4 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Department Stores A fashion retailing mainstay Full-line department stores Hard goods (appliances) Soft goods (apparel and accessories) Specialized department stores Apparel and accessory focus Larger than specialty stores Increased inventory levels

5 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Department Store Conglomerates 1. Increased profits 2. Decreased expenses 3. Quantity merchandise purchases 4. Expansion of private label lines

6 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved The Future of Department Store Retailing Requires: One stop shopping for needs satisfaction Personal shopping services Gift registries for easier gift selection Dining facilities On-site alterations

7 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Off-Price Retail Buying Vendor merchandise deals Resident Buying Offices (RBOs) Opportunistic Buying Vendor concern: Discarding merchandise while maintaining positive relationships with department store and specialty store buyers.

8 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Multi-Channels Used to appeal to multiple consumer markets Increased profit opportunity Use of designer shops and outlets

9 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved The Global Scene Retailers saturating their domestic market seek profitable opportunities in foreign markets Retailer response to consumer demand in other countries

10 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Reasons for Global Expansion Increased overseas travel Saturated traditional (domestic) trade areas Increased availability of products Increased profits

11 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Caution, Global Expansion Dangers Can Include: Economic volatility Exchange rate fluctuations Local competition may be saturated

12 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Global Expansion Methods Wholly owned subsidiary Increased risk Increased control Increased profit Joint Ventures Increased knowledge Reduced resource investment

13 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Retail Trends Always occurring and changing, retailers must know which consumer trends are emerging, which consumers will be most affected, and the extent these trends will affect the retailer. Then the retailer must respond correctly or risk failure.

14 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Current Retail Trends-Part 1 Development of spin-offs to combat competition from specialty stores Expansion of value-oriented chains to respond to fiscally cautious consumer Increased use of private labels to establish merchandise exclusivity Establishment of shop within shop to assist time-restricted consumers

15 Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Current Retail Trends-Part 2 Increased use of new concepts to combat oversaturated markets Exclusive vendor commitments to respond to consumer needs Expansion through acquisitions


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