Retail Trade Price
In this presentation we will talk about retailing and e-commerce. We choose these thema because we want to tell you what in retailing, the retail trade activities, some statistics abaut retail trade in Slovenia, what in e-commerce, e-retailing and what is a complete package to run e-business.
Retailing or retail trade is purchase of goods for further sale to final users mainly for personal and household use.
Retail - the selling of goods to the public in shops.
Retailer - a person or company, who sells goods in a shop. Retailers are becoming an ever more important partner in the chain from manufacturer to end consumer. Retailers pursue their own strategies in term of image, assortment, location, and private labels. One particularly successful type of retailers, which deserves extra attention are (hard) discounters.
Retail Method - a method for estimating the cost of an ending inventory on the basis of a ration of the cost of the goods available for sale relative to the retail price of the goods available for sale.
Retail price - price placed on an item or service for sale to the consumer.
Retail trades are divide to the next activities:
- retail trade with food, beverages, tobacco (this includes: food beverages (specialized stores), tobacco (specialized stores), non-specialized stores, predominantly with food)
- retail trade with non-food (this includes: textille, leather products (specialized stores), furniture, household equipment, construction material in specialized stores, pharmacies, other specialized stores predominantly with non-food, non-specialized stores predominantly with non-food)
- retail trade with motor vehicles and fuels (this includes: motor vehicles, fuels)
Some statistic informations which compared March 2007 with February 2007 and March 2006 and which I found in the web site www.stat.si.
1.) Compared to February 2007, retail trade turnover and motor trade turnover higher- in March 2007 the retail trade turnover without VAT increased by 8.2%; in retail stores with food, beverages and tobacco it was up by 17.3% and in non-food stores by 3%
- in March 2007 the turnover without VAT in motor trade activity increased by 2.8%; in retail sale of fuels it was down by 0.8%, while in maintenance and repair of motor vehicles it was up by 1.9% and in retail sale of motor vehicles, motorcycles, spare parts and accessories by 3.9%.
2.) Compared to March 2006, retail trade turnover and motor trade turnover higher- in March 2007 the retail trade turnover without VAT increased by 7.7%; in retail stores with food, beverages and tobacco it was up by 6.2% and in non-food stores by 10.4%
- the turnover without VAT in motor trade activity increased by 5.5%; in retail sale of motor vehicles, motorcycles, spare parts and accessories it was up by 11.6%. The turnover in maintenance and repair of motor vehicles was down by 0.6% and in retail sale of fuels by 2.4%.
Trend indices of turnover in retail trade and motor trade show constant long-term growth of these activities in Slovenia.
Some statistic informations which compared 2005 with 2001 and which I found in the web site www.stat.si.
1.)The number of stores increasedCompared to 2001, in 2005 the total number of stores in Slovenia increased by 5.9%. The number of stores increased in retail sale of non-food (by 16.9%) and of automotive fuel and motor vehicles (by 6.5%), while in retail sale of food the number decreased by 14.6%.In the total number of stores retail sale of non-food represents 65.4%, retail sale of food 25.7% and retail sale of automotive fuel and motor vehicles 8.9%.
2.) Retail sales area increased in all groups of activitiesCompared to the previous period, in 2001 sales area increased by 14.4% and in 2005 by 30.8%. The sales area increased mostly in retail sale of non-food (by 40.2%) and of automotive fuel and motor vehicles (by 35.4%). In spite of the reduction in the number of retail stores selling food, we observed increase in sales area by 12.7%.3.) Average sales area of the store is biggerAverage sales area of the store in 2005 measured 164 m2, while in 2001 it measured 133 m2. The data on the size of sales area show that in 2005 most stores (3,183 or 26.5% of all stores) measured 31-60 m2. The number of stores with the sales area over 1,000 m2 increased from 201 in 2001 to 281 (or 2.3% of all stores) in 2005.
4.) In 2005 in 11 urban municipalities - of all193 manicipalities in Slovenia - over half of the total sales area (58,5%) was accumulated. The number of stores in urban manicipalities increased by 21,7%, which represented 47,8% of all stores in Slovenia. In line with the 2001 survey results, the trend of a decreasing number of stores in small manicipalities and of opening new stores in large centres continues.
5.) The sales concentration continues predominantly in shopping centres, in which consequently means closing of stores in city centres. Compered to the 2001 data, in 2005 the sales area in shopping centres increased by 88,5%, the number of stores by 77,2% and the average sales area of a store by 6,4%.
Internet retailing is selling retail goods or services through the Internet. Also Known As: Internet Retail, Retail E-Commerce, Online Retailing, E-Retail, E-tail, E-tailing.
E-commerce - the exchange of goods, information products, or services via an electronic medium such as the Internet. Originally limited to buying and selling, it has evolved to include such functions as customer service, marketing, and advertising.
The rapid emergence and astonishing growth of the Internet offers tremendous opportunities, but also challenges to companies. The Internet has a profound influence on competition. By reducing the cost of information and communication, the Internet has helped to globalize product and capital markets. Companies with brick-and-mortar and/or mail order distribution channels face the decision whether to add an Internet-based channel to their distribution system and/or replacing existing channels with the Internet.The Internet may have an even more profound effect on consumer behavior, communication, and information acquisition.
Traditional retailers are quickly becoming the dominant retailers online because they are the best positioned to master the economics of online retailing and capture growing consumer demand.
Online retailing is entering a new phase in its evolution. What was once an industry characterized by entrepreneurial dotcoms, targeting the discretionary spending of the Internet-savvy consumer, is fast becoming the domain of traditional retailers, selling both necessities and discretionary items to the broader population.
Consumers are now migrating to the big brands with an online capability. While they want the convenience of 'always available' shopping, they are also demanding higher levels of performance from retailers in all aspects of the online shopping experience. The next chapter in online retailing will be about the revenge of the sophisticated incumbent.
The long-term prospects for online retailing are strong. Demand for goods and services online will continue to grow as consumers become more accustomed to multichannel shopping.
A key trend in e-retailing is creating marketing partnerships among top brands. As e-retailers establish these relationships with other e-commerce companies, traffic to their sites increases, leading to greater revenue opportunities.
Once retailers are successful at driving additional traffic to their websites, managing that traffic introduces another challenge. For e-retailers, periods of peak activity online followed by a quiet period are common. Known as burst demand, the challenge for e-retailers is finding the right tools and techniques that offer robust performance during peak periods of activity while remaining cost-effective.
Retailers know that the only thing more important than attracting new customers is retaining them. Panelists noted that although everyone is eager to improve customer satisfaction and retention, there's a growing reluctance among e-retailers to incur added expenses on 'overhead' portions of their business such as customer care centers.
As part of a complete package that has been carefully designed to accommodate all e-commerce requirements including online payment, security and a range of other options which are a necessity to run your e-business there are:
1.) The Store Front: This module is the customer side of the storefront where customers can browse for products, put items in the shopping basket, register and buy online. The look and feel of the storefront is completely customizable.
2.) The BackOffice: This module is where the shop owner/ administrator manages the daily online business. The back office consists of seven virtual managers which are the Catalog Manager, Product Manager, Inventory Manager, Purchasing Manager, Customer Manager, Order Manager, Settings Manager and System Administration. All these managers work in unison.
3.) Web Based Management: Managing your online business is done through a web browser. All customer information, product information and order information, …etc. required by a merchant can be accessed and updated from the storefront back office through a web based interface.
4.) Scalable and Robust Platform: Storefront service is based on a highly scalable and robust storefront platform. This means that growing your online business is possible with Storefront through its scalable and extensible architecture.
5.) Secure Hosting: Your Storefront, database and web site will be hosted at secure servers.
6.) Online Payment: With Payment Service, it is possible to accept and clear credit card payments online through your storefront. A wide range of payment transaction capabilities are supported by this service. The payment service is readily integrated with Storefront
7.) Security: Security of online transactions and authenticating the identity of your online business to your customers are guaranteed with Digital Certificates. These can also be used to secure your access to your resources while managing your online business.
8.) Range of other options: Other options are also provided as part of e-Retailing Solution - QuickShop, such as e-mail accounts, a registered domain name associated with your online business.
9.) EC (Electronic Commerce): The end-to-end digital exchange of all information needed to conduct business. Examples include EDI transactions, electronic mail, archives, audit trails, and all forms of records, including graphical images. Electronic Data Interchange (EDI), Electronic Funds Transfer, (EFT) and Continuous Acquisition and Life-cycle Support (CALS).
Article name: Retail Trade Price essay, research paper, dissertation