Marketing is often synonymous with retail, in which companies sell products to consumers. Marketing, more strictly speaking, may refer to the marketing, promotion and advertising of products intended for retail sale. Retail marketing involves selling products to customers. Retailers generally purchase products from a wholesaler on behalf of their companies, which, in turn, sell these products to the public.
A fashion retailer can also do this if you work in retail. However, fashion marketing can be part of the wholesale industry if the retailer works for a wholesaler and sells fashion garments, or products used to make garments, to companies. Retail marketing is the process used to make retail sales. As part of the process, the retailer pays close attention to the types of products offered for sale, how best to present them to consumers, and to determine what is a reasonable retail price for each unit sold.
While retailers were traditionally engaged in the task of retailing in a physical location, the Internet has now allowed these same basic principles to be applied in a virtual environment. Marketing is any practice that contributes to the sale of products to a retail consumer. At the in-store retail level, merchandising refers to showing the products that are for sale in a creative way that encourages customers to buy more items or products. Retailers can sell clothing, and a fashion retailer would also be considered a type of retailer.
The first important step in retail marketing is to establish working relationships with the manufacturers who will provide the goods or services that the retailer will ultimately sell. Depending on the number of units the retailer can purchase at any given time, it can be relatively easy to obtain a discounted unit price, making it easier for the retailer to be competitive in the local market. As Halloween decorations and costumes dwindle in October, Christmas is already putting pressure on consumers and, by the day after Halloween, retailers are doing their best with advertising, even though the official season doesn't start until the day after Thanksgiving. Some retailers follow the formula of setting the retail price at a fixed percentage above the purchase price, while others base retail prices on factors such as the convenience of the items and the amount of competition from other retailers in the immediate area.
Once the products are insured, the retailer must determine the unit price they will assign to the products. Since most of us are right-handed, it's a common tendency for customers who enter a retail store to go to the right side of the store first. That's where the art and science of retail marketing gives brick-and-mortar retailers an advantage over their online competitors. Configuration and display are often considered especially important in the case of fashion, merchandising and similar retail environments, since visualization is often the key means of attracting customers who are most likely to make a purchase.
The seasonal card sections are changed for each holiday and this is the most difficult aspect of the retailer's job due to the removal of old stock and the placement of new ones with new signs, etc. While this was done exclusively by store employees, many retailers have found substantial savings by requiring the manufacturer, seller, or wholesaler who provides the products to the retail store to do so. After setting retail prices, the retail marketing process moves to the task known as configuration and visualization. Retail marketing is the organization of merchandise in an attractive way so that shoppers who come to a physical retail store are involved and inspired to buy more products than they originally thought they would.
I'm sure some of you might be surprised that costumes are considered part of retail marketing, but when it comes to clothing, the sale only happens once someone tries it on. . .