BRL 101 Solved Assignment 2023-24
Overview of Retailing
BRL 101 Solved
Assignment 2023-24 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
Assignment Code: ASST/ BRL 101/2023-24
Marks: 100
Attempt all the questions.
(A) Short Type Questions
Q1. What do you
understand by the term Retailing? Briefly explain the recent evolving trends in
Indian and global retailing.
Retailing
refers to the process of selling goods or services to end consumers through
various channels such as brick-and-mortar stores, online platforms, or a
combination of both. It involves the final step in the distribution chain,
where products are made available to consumers for personal use.
Recent Evolving
Trends in Indian Retailing:
E-Commerce
Boom:
India has
witnessed a significant surge in online retailing. E-commerce platforms have
gained widespread popularity, offering a vast range of products and the
convenience of doorstep delivery.
The growth of
digital payments and increased internet penetration has contributed to the
success of e-commerce in India.
Omni-Channel
Retailing:
Retailers are
adopting an omnichannel approach, integrating online and offline channels to
provide a seamless shopping experience. Customers can browse, purchase, and
return items through various channels.
Digital
Payments and Cashless Transactions:
There has been
a notable shift towards digital payments in retail transactions. Mobile
wallets, UPI, and other electronic payment methods have become increasingly
popular, promoting cashless transactions.
Personalization
and Customer Experience:
Retailers are
leveraging technology to personalize customer experiences. Data analytics and
artificial intelligence are used to understand customer preferences and provide
targeted recommendations, enhancing customer satisfaction.
Sustainable and
Ethical Practices:
Consumers are
becoming more conscious of sustainability and ethical practices. Retailers are
adapting by incorporating eco-friendly products, reducing packaging waste, and
adopting ethical sourcing practices.
Recent Evolving
Trends in Global Retailing:
Rise of
Direct-to-Consumer (DTC) Brands:
Direct-to-consumer
brands are bypassing traditional retail channels and selling directly to
customers. This trend has been facilitated by e-commerce platforms and social
media, allowing brands to establish a direct connection with consumers.
Artificial
Intelligence and Automation:
Globally,
retailers are increasingly integrating artificial intelligence and automation
into various aspects of their operations. This includes chatbots for customer
service, inventory management, and predictive analytics for demand forecasting.
Experiential
Retail:
Retailers are
focusing on creating unique and immersive shopping experiences to attract
customers. This involves incorporating technologies like augmented reality (AR)
and virtual reality (VR) to enhance in-store experiences.
Subscription-based
retail models are gaining popularity globally. Consumers subscribe to receive
regular deliveries of products or access exclusive services, providing
convenience and creating a recurring revenue stream for businesses.
Contactless Shopping:
The COVID-19
pandemic has accelerated the adoption of contactless shopping globally. Mobile
payments, self-checkout options, and other contactless technologies are
becoming integral to the retail experience.
These trends
collectively reflect the dynamic nature of the retail industry, driven by
technological advancements, changing consumer behaviors, and global economic
factors. Retailers need to adapt and innovate continually to stay competitive
in this evolving landscape.
Q2. Why is it
essential to understand consumer behaviour? Explain the factors that influence
the consumer behaviour in retailing with examples.
Q3. Distinguish
between modern retail formats from traditional retail formats with suitable
examples.
Q4. What do you
understand by sourcing? Describe steps would you intend to adopt in identifying
suppliers in a retail unit?
Q5. Why do you think
visual merchandising is necessary in the design of a store? Suggest components
to be displayed in a particular retailing unit with examples.
Q6. What are the
different pricing techniques? Discuss the different pricing techniques followed
in supermarket, discount store and hypermarkets.
Q7. Explain what you
do mean by GST? Do you think it benefits the retail industry?
(B) Essay Type Questions
Q8. a) Briefly outline
the applications of technology in retail industry.
b) Explain the factors
influencing technology selection.
Q9. a) What do you
mean by business ethics. Describe the broad areas of business ethics?
b) Explain the ethical
dimensions of retailing. What are the benefits of managing ethics in business.
BRL 101 Solved
Assignment 2023-24 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
BRL 101 Solved
Assignment 2023-24, BRL 101 Solved Assignment 2023-24, BRL 101 Solved Assignment
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