BRL 101 Solved Assignment 2023-24


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.

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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.

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