Marketing is often associated with retail, which involves companies selling products to consumers. In a more precise sense, marketing may refer to the promotion, advertising, and marketing of products intended for retail sale. Retail marketing involves selling products to customers. Retailers usually purchase products from wholesalers on behalf of their companies, which then sell these products to the public. A fashion retailer can also do this if they 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 this process, retailers pay close attention to the types of products offered for sale, how best to present them to customers, and 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 displaying the products that are for sale in an attractive 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 convenience and competition from other retailers in the immediate area. Once products are secured, retailers must determine their unit price.
Since most people are right-handed, it's common for customers who enter a retail store to go first to the right side of the store. This is where retail marketing comes into play and gives brick-and-mortar retailers an advantage over their online competitors. Configuration and display are especially important in fashion merchandising and similar retail environments since visualization is often key in attracting customers who are likely to make a purchase. The seasonal card sections are changed for each holiday and this is one of the most difficult tasks for retailers due to removing old stock and placing new ones with new signs, etc. While this was done exclusively by store employees, many retailers have found substantial savings by requiring manufacturers, sellers or wholesalers who provide products to do so. After setting retail prices, the retail marketing process moves on to configuration and visualization.
Retail marketing involves organizing merchandise in an attractive way so that shoppers who come into physical stores are engaged and inspired to buy more than they originally planned. You might be surprised that costumes are part of retail marketing too! When it comes to clothing, sales only happen when someone tries it on.
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