Fabric is a product which is made of different types of fibers ( yarns or threads). These fibers are converted into fabric with the process of knitting or weaving. The fibers used to make fabric are natural, man-made made and regenerated.
In last discussion about "Retail Mix", we introduced to 6P's or elements of it. Now, here we will learn about all of these 6P's or elements of "Retail Mix". The detail discussion about elements of retail mix is as follows::- 1- Product::- Product is one of the most important element of retail mix. Retailer needs to identifying and full fill customer's needs. Retailers must be focused about the quality of product as per the customer's expectations and requirements. 2- Place::- Place means right location where customer can access the product. The availability of product must be at the place of customer's need. 3- Promotion::- Promotion tool is used by retailers in order to advertise their products in market to customers. The promotion can be done by various method i.e. direct marketing, newspaper advertisement, leaflets and etc. 4- Price::- Price is also plays an important role in retail mix. Price decided by the retailer must be affordable by...
In the fast-paced world of retail, accurate inventory management is paramount. Global count, a comprehensive inventory-taking process that synchronizes stock levels across all sales channels, has emerged as a vital tool for retailers. By conducting a global count, retailers can: * Enhance Inventory Accuracy: Identify discrepancies between physical stock and system records, minimizing stockouts and overstocks. * Optimize Supply Chain Efficiency: Gain real-time insights into product demand and distribution patterns, enabling better forecasting and replenishment. * Improve Customer Satisfaction: Reduce out-of-stock situations, leading to happier customers and increased sales. * Prevent Shrinkage and Loss: Detect and address theft, damage, and other inventory losses, safeguarding profitability. * Support Data-Driven Decision Making: Utilize accurate inventory data to make informed decisions about product assortment, pricing, and promotions. To maximize the bene...
The Indian fashion retail industry is currently witnessing a dynamic shift, driven by a confluence of factors like evolving consumer preferences, technological advancements, and economic growth. Here are some of the prominent trends shaping the landscape: * E-commerce Dominance: Online shopping has become the preferred choice for many Indians, particularly millennials and Gen Z. E-commerce platforms offer a wider range of products, competitive pricing, and the convenience of home delivery, contributing to their increasing popularity. * Rise of Private Labels: Indian retailers are increasingly focusing on developing their own private label brands. This strategy allows them to control product quality, pricing, and design, offering unique and often more affordable options to consumers. * Focus on Sustainability: With growing environmental consciousness, consumers are increasingly seeking sustainable and ethical fashion choices. Brands that prioritize eco-friendly material...
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