What factors affect the growth of retail sector?
Research Question
Academic Insights
The growth of the retail sector is influenced by a variety of factors including job satisfaction, customer satisfaction, digitalization, visual merchandising, and profitability strategies.
Key Insights
- Job Satisfaction:
- Determinants such as salary, efficiency in work, co-worker relations, job security, rewards, and welfare schemes significantly impact the overall job satisfaction of employees in the retail sector, which in turn affects sales and profits .
- Customer Satisfaction:
- Factors affecting customer satisfaction include the quality of service, product variety, store layout, and pricing strategies. The American Customer Satisfaction Index (ACSI) model is often used to measure and compare customer satisfaction levels .
- Digitalization:
- The shift towards e-commerce, accelerated by the COVID-19 pandemic, has significantly impacted the retail sector. The growth of online retail is expected to continue, leading to structural changes in the industry .
- Visual Merchandising:
- Effective visual merchandising, including window displays, in-store displays, floor merchandising, and promotional signage, plays a crucial role in attracting customers and increasing sales .
- Profitability Strategies:
- Retail firms employ different strategies to achieve profitability, such as managing gross profit margins, asset turnover ratios, and general expenses. The financial crisis has also influenced profitability metrics, particularly in regions like Greece .
Conclusion
The growth of the retail sector is multifaceted, driven by factors such as employee and customer satisfaction, digitalization, visual merchandising, and strategic profitability management. Addressing these areas effectively can lead to sustained growth and competitive advantage in the retail industry.
Determinants of Employee Job Satisfaction in Retail Sector
Diagnostic Analysis of Factors Affecting Customer Satisfaction Index in Retail Sector in India
STUDY ON THE GROWTH PROSPECTS OF PRIVATE LABELS TO THAT OF NATIONAL BRANDS IN THE FMCG RETAIL SECTOR IN COIMBATORE
Investigating the Relationship between Visual Merchandising and Impulse Buying of Apparel Products by Selected Retail Shoppers in Vadodara City of Gujarat
A study on employee job satisfaction boosting productivity and increased sales in retail sector of Bangalore
Factors of sustainable development of electronic commerce in Russian retail
Factors affecting the growth of the multinational retailer in Thailand
Analysing the profitability and the relations among its determinants of the retail sector: Evidence from Greece
Mixed reality in U.S. retail: A review: Analyzing the immersive shopping experiences, customer engagement, and potential economic implications
THE DETERMINANTS OF SMES PROFITABILITY IN THE WHOLESALE AND RETAIL SECTOR IN SERBIA
The Role of the Real Estate Sector in the Economy: Cross-National Disparities and Their Determinants
Demographic and Socioeconomic Influences Shaping Usage of Online Channel for Purchase of Food & Grocery
Factors Influencing Consumer Buying Behaviour Towards E-Commerce Websites
Sectoral Dynamics in the Determinants of Micro, Small and Medium Enterprises (MSMEs) Growth in Zimbabwe
Inter-relational Model for understanding Chatbot acceptance across retail sectors
A Comprehensive Analysis and Research on the Factors Affecting the Growth of Rural Trade in Cultural Communities
Factors Affecting the Consumer Behavior with Reference to Select FMCG Retail Outlets
An assessment of success factors for the performance of family owned small to medium sized businesses in the Zimbabwean retail sector
A STUDY TO FIND OUT THE FACTORS AFFECTING THE ECONOMIC GROWTH OF SMEs IN RETAIL SECTOR . ( CASE STUDY OF MBALA DISTRICT ) ( Conference ID : CFP / 583 / 2018 )
Determinants of SMEs growth and performance in Cameroon’s central and littoral provinces’ manufacturing and retail sectors
Organised Retail in India: A Case Study of Bal-wart
Scaling circular business models: strategic paths of second-hand fashion retail
Factors Affecting Quality of Profit in Indonesia Retail Trade Sub-sector Companies
Measuring Customer Satisfaction and Factors Affecting it in Banking Sector: A Case Study of Banks in Bhubaneswar City
Factors unflinching e-commerce adoption by retailers in Saudi Arabia: Qual Analysis
Empirical Analysis of Inventory Turnover Ratio in FMCG Retail Sector - Evidence from the Republic of Serbia
Related Questions
- How does consumer behavior influence retail growth?
- What role does technology play in retail sector expansion?
- How do economic conditions impact retail sales?
- What are the effects of competition on retail growth?
- How does location affect the success of retail businesses?
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.