Retail Technology
Retail enterprises are found in large numbers in India. Retail is the part of sales, from a specified location, such as a department store, boutique, kiosk, or by mail, to the sale of goods or merchandise for direct consumption by a buyer in individual or individual quantities.
Types Of Retail
- General trade shop that you had with you, from which you would take your daily items, All those shops are part of general trade such as – Milk, Bread, Hair Oil, Food Oil, Shampoo, Conditioner, Soap, Detergent, Snacks, Biscuit, Cold Drink, Perfume, Candy, Sugar, Tea, etc. The general trade shop can be small or big, it is up to the owner of his shop how much money he can invest in his shop.
- Modern trade-Supermarkets and hypermarkets come under the modern trade system of selling products, whose practice started in a big way in the 1990s, and has spread to most places in India today. Under regular trade, the customer goes to the shop and gives his list to the shopkeeper, while under modern trade, the customer goes in front of the product shelf and understands the product and puts it in the self-basket, this trend is increasing rapidly in urban areas. The advantage was that the company’s products which were never even seen in the general trade shop, the customer got to see them on the shelf in the modern trade, due to which the sales of FMCG company also increased and the customer also got to see new products. Supermarkets or hypermarkets are spread in very large places very large place places and they still have their presence in most of the big cities. In these, the goods are sold in cash, and often the sellers themselves are not there, and all the work is done by a computerized system. In these, the same are kept decorated and mostly, all the same, are sold.
Types of Modern Trade –:
1. Convenience Store-Generally a well-located, food-oriented food-oriented food-oriented shop. Consumers with long working hours and a limited number of items use the accessible store; for filling items such as bread, milk, cheese, ghee, eggs, chocolates, candy, etc.
2. Supermarket supermarket is a big store that lets you roam and choose the product for yourself. It was a supermarket that was prepared to give consumers a sense of shopping in a big place and to be able to meet all their requirements. The supermarket is a large-scale retail center, in which a wide range of food products, vegetables, fruits, groceries, and other domestic supplies are offered for sale below a roof.
There were such products, that were difficult to meet in the supermarket such as fish, vegetables, or flowers. But, the supermarket provided all this and under the same roof, thereby rapid development of supermarkets in all parts of the world. During the festive season, these supermarkets are decorated and even start games and shopping. The shopping experience was more interesting. A supermarket is a big shopping store where the buyer chooses its products which are systematically arranged on the shelves. Similar products are arranged nearby, which provides easy time for buyers when comparing different products, and deciding which product to buy. In addition, the price tags are attached to the products on the shelves, which helps buyers decide which products are based on their purchasing power.
3. Department Store-Departmental Store is a store in which all household items are available, many types of goods are available inside the department store, such as food items, cleaning items, household items, etc. All these types of goods are available in this store. It is found inside today that this store runs a lot. Because many such items are found inside these stores, which have to be bought from different places, then if any person wants to start a departmental store business, it is the right business in which good money can be earned.
4. Specialty Stores-A specialty store is a shop, usually retail, that offers a specific and specialized variety of items. These stores focus on selling a particular brand or a particular type of product. For example, a store that exclusively sells mobile phones or laptops would be considered exclusive. By this definition, the store can carry a wide variety of products. Although a store may specialize in clothing, clothing may be for children, teens, or adults. It can also contain shoes or socks. Some places also offer clothing for the whole family, as well as a variety of accessories, toys, and various other items.
5. Hyper Market-The hypermarket was started in 1963 by Carrefour in the US. A hypermarket is a combination of a superstore and a department store. This includes a huge range of products ranging from groceries to appliances. They are designed to meet all the needs of the customer in one visit to the store. Because of their large size and footprint, they are usually located out of town or in sub-urban areas, they typically operate on a high-volume, low margin formula to make money. A hypermarket is a shopping store that is divided into department stores and is usually larger than a typical supermarket. Hypermarkets retail all products which include electronics, groceries. Furniture, food, and other toys that allow customers to meet their needs under one roof.
Products retail at moderately low prices in hypermarkets which encourage many people to buy goods in this store. These stores provide products at less prices as compared to other malls in the same industry. Supermarkets offer their products at much higher prices than nearby stores and other retail outlets. They charge a fee for providing the executive shopping experience to their customers.