Strategic Planning In Retail

Sally’s is a small, independently owned, high-fashion ladies' clothing shop in a suburban strip mall. It is a full-service retailer for fashion-forward shoppers. It carries sportswear from popular designers, has a personal shopper for good customers, and has an...

Next, a retailer develops an in-depth overall strategy. This involves two components: the aspects of the business the firm can directly affect and those to which the retailer must adapt. The former is called controllable variables, and the latter is called...

After situation analysis, a retailer sets objectives, and the long-run and short-run performance targets it hopes to attain. This helps in strategy and translates the organisational mission into action. A firm can pursue goals related to one or more of these areas:...

Situation analysis is a candid evaluation of the opportunities and threats facing a prospective or existing retailer. It seeks to answer two general questions: What is the firm’s current status? In which direction should it be heading? Situation analysis means...

Strategic planning in retailing is a complex process with many intertwined factors, both controllable and uncontrollable. Previously, retailers were focused on in-store marketing by trying to influence consumers’ buying decisions as they shopped – typically through...