This document is the full leaflet that is required for unit 15 Learning aim a and b. This includes:
P1-Explore the retail provision in your local area
including the current nature and structure
P2-nvestigate the range
of job roles, entry points and progression opportunities available locally...
UNIT 15: INVESTIGATING
RETAIL BUSINESS
Alex Ferretti Learning Aim A&B Leaflet
What is retailing?
by A.
Retailing is the process where goods and
services are exchanged through multiple
distribution channels in order for a company/
individual to earn profit. Selling goods to the
public. For example a corner store selling candy
would be classified as retailing as it does this in
order to receive profit. This could also be
providing a service such as garden cleaning to
the public in exchange for a certain price.
Adding value to products and
services
Adding value to products or services helps companies
to attract more customers and as a result gain a chance
to increase and boost their revenue. The value added is
the difference between the products price and the cost
that was paid to produce it. A value can be added in
various different ways such as branding generic
products or even assembling a products in a different
way to make it differentiate from others. Producing a
product in a way that it enhances its use. An example
could be a company adding their logo on a T-shirt, this
will then increase its value.
, APRIL 2020
Development
of retailing
Retailing first started off
centuries ago at an early stage of
economic life with a system called
trade and batter. Trade and batter
is the exchange of goods for other
goods without the use of any other
Currency exchange. So for example an
exchange would be a bag of rice in
Currency was then introduced as a use of exchange for a certain amount of
exchange and transactions became much easier.
potatoes. Trade and barter is still
This included the use of banknotes and coins in
exchange for goods and services. this includes used in some geographical
currency's such as the U.S Dollar, the Euro, the location till this day.
Japanese yen, the Great British Pounds and
many more currencies all around the world.
Retail Stores
Shop and business owners then decided to
expand to having stores for selling their goods as
they responded to the changing needs and
expectations of the buyers and to take
advantage of the scale economy. They expanded
in many different ways and came out in various
different types available for many different types
of customers whether they wanted to buy in
bulk, individually or even at discounted prices.
The different types of stores will be listed below
on the next page.
Clicks
Retail stores also moved on to developing sites and apps that would let customers have the ability to buy
items/goods from the stores without having to travel to the store in person. In addition adding the
availability to for the item to be delivered to their door step. This makes it easier for customers who may
live far away from the store to purchase goods and is also an advantage for the stores as having an online
presence opens up to many more potential buyers and customers and therefore increase revenue
overtime.
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