Analysis of Retail Marketing Nuances Term Paper

Analysis of Retail Marketing Nuances - Term Paper Example Of all the changes in distribution during the last century, those taking place in retailing have been the most dramatic. Totally new institutions have appeared in an industry that a hundred years ago consisted mostly of small general and specialty stores. The principle retailing innovation in the 1930s was the supermarket, which introduced a number of principles of mass merchandising that cut costs and increased volume at a time when family incomes were strained. The original supermarkets, in fact, were not very attractive, but times have now changed. With innovative techniques of attracting the customers, supermarket chains have established themselves in a big way. Supermarkets introduced the principle of self-service, wherein the customer is supposed to do the leg work, which resulted in a reduction of the personal cost of the supermarket. Self-service also resulted in encouraging impulse purchases, as the consumer could physically touch and feel all the attractively packaged stuff kept on display. In this study I'll study the nuances of retail marketing through my superstore 'Woolworth' a major superstore chain having branches in many countries and offering a range of products from consumer durables, electronic items, toys, sports and leisure items to fresh food. We take pride in customer assistance and a range of extra services and facilities. Woolworths Group plc is principally a UK retailer focused on the home, family, and entertainment. Woolworths offers its customers value-for-money on an extended range of products. It is built around the well known Woolworths brand which is represented in towns and cities throughout the UK Frank Woolworth started his retail career as a sales assistant like me in the Augsbury and Moore Dry Goods Store in Watertown, New York in 1873. This young boy was desperately in need of a job and the co-owner William Moore took pity on the young farm boy and accepted his offer to work 'free of charge' on a three month trial in the store. If we see this episode in retrospective we'll find a trace of the retail marketing principles even in this offer of this young boy. The boy not only proved his worth but went on to create history in the retailing industry.