How do you connect with a generation that defies easy categorisation? The members of Generation Y (Millennials) have perplexed many knowledgeable retailers for more than a decade. There is a stereotype that all Millennials are broke 20-somethings who live with...
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The Marketing Research Process
Marketing research in retailing entails the collection and analysis of information relating to specific issues or problems facing a retailer. At farsighted firms, marketing research is just one element in a retail information system. In others, marketing research may...
The Retail Information System
Data gathering and analysis should not be regarded as a one-shot resolution of a single retailing issue. They should be part of an ongoing, integrated process. A retail information system (RIS) anticipates the information needs of retail managers; collects, organises,...
Information Flows in a Retail Distribution Channel
In an effective retail distribution channel, information flows freely and efficiently among the three main parties: supplier (manufacturer and/or wholesaler), retailer, and consumer. This enables the parties to better anticipate and address each other’s performance...
Overview
When a retailer sets a new strategy or modifies an existing one, gathering and analysing information is crucial because it reduces the chances of wrong decisions. The firm can study the attributes and buying behaviour of current and potential customers, alternative...