Retail Dogma

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Retail Management: Definition, Importance & Key Functions

Retail management is the process of managing the different functions at a retail organization, with the main goal of providing customers a great shopping experience, through curated product assortments and great customer service at the stores. Why Is Retail Management Important? Retail management is important, because providing customers with their shopping needs requires many different …

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Retail Organization Structure

The retail organization structure lays out the different functions at a retail company and the flow of hierarchy from top to bottom. This defines the heads of each function and the teams that report to them. Retail organization structure is different at the head office from the retail stores, and in this article we will …

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Independent Retailer

An independent retailer is someone who has started their own retail business independently, and not as part of a franchise chain. The Business Model of an Independent Retailer The independent retailer buys merchandise from manufacturers, wholesalers or distributors at wholesale prices, and then sells them through his store to the end consumer at higher retail …

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Anchor Store

An anchor store is a big retail store, often a department store or a supermarket, that drives traffic to the mall, due to its brand recognition and large customer base. They are often referred to as “anchor tenants” or “key tenants”, due to their major role in the success and appeal of the mall. The …

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Buying a Retail Business

Buying a retail business can be a great option for many people who don’t want to start a retail business from scratch. In this article, we are going to guide buyers on what to look for in a business that is offered for sale. Not only would we look for problems in the business to …

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Retail Business Plan

A retail business plan is a document that gives you and your potential investors a roadmap on how your new retail business intends to get started and deliver its business goals over its initial few years (usually 5 years). It is usually broken down into sections about the company, the industry it operates in, the …

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Why Are Retail Stores Important?

Every quarter economists track how the retail industry is performing and take it into account while making decisions about the economy. This is because retail as an industry and retail stores play an important role in our lives, at many different levels, and not only as a channel for sales. With a rising amount of …

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What is Retail?

We all interact with retail businesses on a daily basis, and most of us probably know someone working in this sector. But for those of us who are interested to start a business in this sector, we might feel confused over where to start from or what establishing this business actually involves. So in this …

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How to Rent a Retail Store?

In this article we will show how to rent a retail store and the most important considerations to know about before signing the lease. Choosing a location for your new retail store is the most important step in the pre-opening phase. Not only will the location play a major role in your sales , but …

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Starting a Retail Business

This is a complete guide to starting a retail or e-commerce business

You will learn about:
Retail Basics
Buying & Merchandising
Retail KPIs
Retail Financials
Managing Performance