Nov 12
Since we at Retail Dude are committed to help out our new young brigade to learn more and better about retail, here is a small presentation that is shared in the download section. The presentation very easily is a thought provoking one which talks about some essentials in retail. These are basic pointers if you are to open up a retail store. This is just to facilitate more learning’s. This presentation is a big thank you to Global Purchasing Inc.
Retail up guys!
- Sudip
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November 13th, 2008 at 12:16 pm
You guys keep on giveth and 41 slides giveth. I have downloaded it and stored it, will be useful if not me someone else. Two quick questions though:
What is 10 sec experiment?
Can you also help us get a better grasp of the inventory management.
Keep up the great work!
November 13th, 2008 at 12:52 pm
It is a very undermined but noted concept that, a shopper doesnt spend more than 10sec on your window, and in cases even lesser. The store feel and atmospherics play a very important role then. Out of the 5 elements mentioned in the previous slide, any one could be the main reason to pull in the customer. Attracting a new customer is always a big challenge. VM is a huge market overseas however, the Indian market is gearing up a good way to now compete.
Surely at retail dude, you will get all your queries resolve. We will soon post articles related to Inventory Management to ease the understanding. Keep encouraging us, with your suggestions and comments.
Dude it up folks!
November 13th, 2008 at 12:55 pm
Hi Chirax,
The 10 sec experiment basically means the moment of time in which a customer decides whether to walk inside your store or to go for any other store. Imagine yourself as a customer on high street where there is a lane with plethora of stores on both side. It wont even take 10 sec for you to decide whether you want enter a store or not when you have so many options. So, a stores Window and entrance and all other external visuals must convey what ypur store stands for and what you have inside it. Not only this it need to differentiate you from all others and should ease up your decision to walk in.
When I say ease up, it means that it should communicate who your target market is and they should not have a second thought on their wlk in decision. So, if you are a store in business of luxury retailing, your store exterior should communicate the same so effectively that HNIs should take not more than 10 second after locating it to walk in. And the objects who are not your prospects also should decide to pass by in that window of time.
Hope I made the point clear. Let us know specifically what are you looking in inventory management.