In the ancient era retail market has remained less updated. However, with the development in the technology, modernization in the young youth and end-users of current scenario represent significant growth in the every type of retailing. Retail is the process in which selling of consumer goods and services to customers through numerous channels of distribution for earing huge share and profit in the market of respective product takes place. A retailer is that person or an organization who resells goods or services directly to consumers or end-users. The retailers who may sell good to business customers those who are not end users such sales are termed non-retail activity. However unsurprisingly, retail markets have existed since ancient times but in the recent trend of retail market the market is become more innovative and advanced with the rise in technology.
The more development and modernization in the retail market can lead to a profitable growth and a higher return on investment. For creating strong brand positioning in the market the retailers use various advertising and communication tools to grow awareness and consideration with future customers. Different types of retailers have different types of retail strategies for acquiring more shares in the market but pricing is a key element to any retail strategy and place of retailing which plays a crucial role. Not only has this, increase in the disposable income, busy lifestyle, increasing health awareness, changing lifestyle are the major growth drivers of online retailing. In the divine, the online retailing of any industry such as food & grocery, health & beauty, clothing and footwear, electrical and others will continue to be driven primarily by the youth of the present era and metropolitan cities.
According to the report analysis, ‘RETAILER DEEP DIVE: HYPERMARKETS, SUPERMARKETS, AND HARD DISCOUNTERS – STRATEGIC ISSUES AND MARKET TRENDS AFFECTING HYPERMARKET, SUPERMARKET, AND HARD DISCOUNTERS’ suggests that some of the major leading players of retailing are functioning effectively with the advanced technology and development in the online software includes Wal-Mart, The Kroger company, Schwarz Beteiligungs, Aldi Group, carrerfourtesco, Albertsons Companies, EdekaZentralle AG & Co., Rewe group, Southeastern grocers, Ahold Delhaize, Publix Super Market, Auchan Group, AEON Group, Mousquetaieres, SPAR International, E.Leclerc, Woolworths, J Sainsbury, Wesfarmers Ltd., and others. These leading players use different market strategies such as competitive pricing, high/low pricing, everyday low pricing, psychological pricing. Moreover, hypermarkets, supermarket and hard discounters are facing both internal such as forecasting, investment management and external issues like as competition from e-commerce companies, changing behavior and others. Hypermarket is that market which is made by blending a supermarket and departmental stores. Hypermarket allows all the customers to satisfy all their routine shopping needs in one trip.
Report also suggests that Food and grocery constitute the largest market share among hypermarkets, supermarket, and hard discounters. Additionally, electrical, clothing and footwear channels are forecast to grow at higher growth rate compared to other channels. Furthermore, North America and Asia Pacific region are witnessing higher sales growth in the hypermarkets, supermarkets and hard discounter sectors. In addition, mass market sales have the highest share among the three price positioning segment. North America region is the only region witnessing positive sales growth across the three price positioning segment such as mass, value and premium. With the development in the economic condition the consumer is becoming more aware about the retail channels such as consumer start analyzing the performance across the channels and their market share. Hence, doing retailing business by retailer either online or offline is both going to grow in the coming years in their respective sector.
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Ankur Gupta, Head Marketing & Communications