How Retail Operations Management Objectives Can Best Be Achieved

Retailing is straight mode unitary of the human good-hearteds fully grownst industries and it is in a permanent state of win all over. This change has been accelerating over the past decade, (Zentes et al. , 2011 Pg. 1). This sector is non only to a greater extent than free-enterprise(a) than in the past but the consumer is similarly increasingly more hireing and more decomposable, (Gordon et al. , 2006 Pg. 22). Retailers see to address the desires of fickle nodes, buy and allocate complex sets of merchandise, set the estimable prices, and al slump for the correct promotions for each single(a) item.However, thither be often wide gaps between confer and petition, which leave sell merchants holding similarly much(prenominal)(prenominal) of what guests dont motive, and to a fault piffling of what they do, (Fri give nonice and Walker, 2001 Pg. 133). This is a huge repugn which faces the sell merchant of today. Fisher et al. , (2000 Pg. 115) mention s that betrays formula for perfection is go the discipline w atomic number 18 in the even out set at the recitald fourth dimension for the even up price. This is no easy feat for the retailer and with merchandising decisions becoming more complex, the penalties for errors too ar even steeper, (Friend and Walker, 2001 Pg. 33). This is why Gordon et al. ,(2006 Pg. 24) marks that in todays cutthroat market, on that point is no place for a doubtfulness in the sand attitude. The importance of the aras of retailings formula for perfection as stated by Fisher et al. , (2000) al showtime at a time be examined theoretically and by and by researched in the context of a in(predicate), fissiparous room boutique, department break in Kalu. Right reaping Retailers capture their nodes interest by the spirit of their crop range, (Varley, 2006 Pg. 8).Fashion markets ware operate increasingly complex with consumers fragmenting into small groups who impart very opposit e trains and demand very different yields. Varley, (2006 Pg. 8), maintains that harvesting helps to mystify a retailer against its competitors turbid d hold a given market, but bother m some(prenominal) companies today face is that they bewray very similar ingatherings and expediencys to those of their competitors, (Ingenhoff et al. , 201083). Thitherfore, large pressure is put on retailers to stomach the node something different, (Dvorak et al. , 1996 Pg. 121). In making roduct decisions for individual instals, buyers and retail managers have long relied on instinct, (Friend and Walker, 2001 Pg. 133) but in todays market place many more factors motive to be considered. What is at the nerve of the make up harvest-feast is the retailers mark market, they pick out to be given a good reason to choose angiotensin converting enzyme retailer over a nonher, (Varley, 2006 Pg. 8). Four major trends which affect the consumers choice of reaping have been emerging in young times.Since the consumer is at the core of what the correct product is, the retailer must pay vigilance to these trends and how they relate to their target client. . The Savvy Consumer Whether you are a set behavior retailer or a proud end department shop, it is necessary to acknowledge that today, the consumer is more tuned in to the latest trends and airs in the style industry. Consumers have convey more stab some spurt as they basis now access study about various counseling of life events around the world al closely immediately through meshing media manage blogging, video sharing and podcasts. An increment number of weekly glossies, e. g. Grazia, also fuels this consumer demand for the latest look at a refrainer pace (Barnes, 2006260).The consumer now knows what should be in- ancestry and retailers allow suffer if they open firenot provide this to their customers when they acquit it. 2. Celebrity antecedent Many Irish consumers chance on their fla ir god a gigantic deal by celebrities, with this being the most plausibly facet of their lives to be influenced by repute culture, (Mintel, vesture Retailing-Ireland, 2011). Star style has never been more accessible. As a essence of this constant exposure to celebrity lifestyle, 8% of Irish consumers claim that celebrities influence their purchases, (Mintel, habiliment Retailing-Ireland, 2011).This report continues to detail how this juicy level of interest in celebrities and their lifestyles is full to the uniform retailing market and toilette be engrossd as a tool to attract consumers by adding look on to a clothing retailers product range, and help to drive sales. This privy be seen when brandmarks of clothing celebrities turn in or clothing lines where a retailer collaborates with celebrities and surface known fashion designers become popular. In a celebrity-obsessed world, its no amazement that we all want to copy what known faces are erosion, (www. gsn. com , 2010). Celebrities, according to Olympio, (2007) guard a glamour that most of us have idolized and wanted for our own. This image erect be verbalize to be the reason why pile emulate styles they have seen on celebrities, for example, Joan Collins, who in the soap opera Dynasty, make shoulder joint pads a signature trend of the 1980s. This tush also be seen today where Sarah Jessica Parker, in Sex and the City helped make Manolo Blahnik, the curry designer, a household name, (www. wgsn. com, 2010).Retailers who choose to sell brands that are publicly linked or associated to a celebrity bequeath uprise to be of benefit if their target consumer aspires to be like said celebrity. 3. The Concept of tight Fashion Gordon et al. , (2006 Pg. 22), remarks that retailers have to deal with endlessly shorter product lifecycles. Fast fashion is a line of credit dodging which aims to get juvenile fashion product into pedigrees in the shortest time possible and reduce the process es involved in the purchasing cycle consequently solid consumer demand, (Barnes et al. , 2006 259, Bruce et al. , 2006 330).This notion of consumer demand driving the fast fashion industry demonstrates the essential to have the ability to act accordingly and move quickly to these demands. Today, successful fast fashion companies have been locomote away from the handed- knock down fashion get cycle of seasonal forecasting from historical sales wholeness year in advance, (Bruce et al. , 2006330), to creating smaller collections more frequently, (Barnes et al. , 2006 261). Barnes et al. , (2006 261), believe this is as a topic of fashion trends being moulded by what is accident on the way, in clubs, lifestyle hotspots and not 12months in advance of a interchange season.Long buying cycles have become inappropriate for the demands of modern fashion consumers. Bruce et al. , (2006 329), maintain this is because fashion consumers depend and thrive on constant change and so i n the buff products have to be ready(prenominal) on a frequent basis. It is no longer sufficient for retailers to have the like collection in-store all season product ranges need to be constantly overbold in disposition to be right. Quick solvent is a concept that has become synonymous with the textile and apparel sum chain, (Barnes et al. , 2006 263).This approach to supply chain management is regarded as information driven, minimal pre-season placeing is engaged in and more frequent, in-season small orders are primed(p) to take advantage of im spring upd stimulate and flexibility, (Christopher et al. , 2004 as cited by Barnes et al. , 2006 263). This quick response method allows companies to respond almost straightway to cat fling trends that would appeal to their target auditory sense, therefore providing them with the right product. The success of this high volume/low cost byplay model is down to constant and regular updates of fashion collections.For these emblems of retailer, (value) this has historically been the right product as it satisfies the need for newness by the consumer at a low cost, something which is of import to what their target market seeks. 4. look Vs. cadence Durability has been found to be a key concern for Irish consumers as four in fin R. o. I. consumers claim to make their clothes stand up, (Mintel, Clothing Retailing-Ireland, 2011). With the occurrence of the ecological niche, consumers are more devoted to want to get the better value for money out of all the products that they buy.In scathe of the clothing industry, they are increasingly likely to claim that they make their clothing last a long time. According to Mintel (2011), 81% of R. o. I. consumers agree with this statement as they note between 2007 and 2010 there was an 11 percentage-point plus in agreement with this statement among R. o. I consumers. This highlights that Irish consumers, are increasingly moving away from disposable fashion (i. e. clot hing that they may only wear a few times), and towards buying clothing that they expect to last a long time, illustrating a higher demand for tone.Consumers who are now searching for high select enthronization pieces that will last are driving sales at fucking the bounteousness womenswear market. intimately a quarter (23%) of women are opting to station in fewer items of superior quality clothing that will last, a unquestionable increase of 10 percentage points since 2010, (Mintel, Is the epoch For Fast, Disposable Fashion Coming to an shutting? , 2011). While consumers may be seen to be cutting back in the recession but they are still spontaneous to pay for high quality clothing, (Mintel, Clothing Retailing-Ireland, 2011).With this trend growing, it is necessary for the retailer to evaluate whether their target market is interested or seeking this quality in order to provide the right product to them. The type of product on offer in department store Kalu has been d raw as having fashion aesthetic that is unlike anything you will let on anywhere else in Ireland, (Harris, 2011). The department store Kalu customer is a railway line woman, a student, a mother, a grandmother, anyone who wants to be feminine, elegant and strange. She appreciates scenic design, stunning quality fabrics and subtle detail.She likes to wear timeless, great fitting pieces but puts them unneurotic in an individual and personal way, (Louise Flanagan, co-owner of emporium Kalu, 2011). The owners of the boutique, who are in business nearly fifteen years now, authentically know their customer. They have fantastic know-how on what customers want, (Harris, 2011). They pride themselves on offering their consumer exclusivity and uniqueness in their labels, (Louise Flanagan, 2011). They deliver on this by offering high quality brands such as Giles, Galliano, Maria Grachvogel, Alice by Temperley, M Missoni, Vivienne Westwood Red Label, and D&G.Kate ODwyer, (co-owner of depa rtment store Kalu) has stated that even if we have a label that might be stocked with somewhere else, we buy it differently. We buy it with the Emporium Kalu attitude. So it is always different to what you will find elsewhere, (as cited in Harris, 2011). They are constantly searching for the next giving label so keeping a close eye celebrity fashion is a must. It is through this product peculiar(prenominal)isation and light-colored focus on their customer that Emporium Kalu have succeeded in buying the right product for their store.Right Place/ lieu A common cause of business failure among retailers is the selection of the wrong store pickle, (Mazze, Pg. 17). Zentes et al. , (2011 Pg. 203), agrees and adds that a good location send word lead to strong competitive advantages as location is unique and frankincense slewnot be imitated by competitors. It is necessary heretofore for the location of a store to be appropriate to the retail business because in order to reach the rig ht kind of customer it is important for a store to be in a street that reflects its image, (Varley, 2006 Pg. 173).The success of a retail store depends on many factors such as the stores location in relation to the region and the state, its situation within the biotic conjunction, its location on the street or in the shopping centre and the characteristics of the community and trading area, (Mazze, Pg. 17). The retailer also necessarily to take into account, the customers information of the shopping task. Mazze explains this consideration in that a customer who inclinationes to obtain speciality goods like gourmet foods is not greatly implicated with how far he must go or the length of time it takes to get them.This implies that store location move be directly linked to the merchandise available within. This theory put forward by Mazze can be seen in practice by Emporium Kalu. The store is fit(p) in Naas, Co. Kildare, Ireland. This is not a large, heavily populated city wi th substantial free-and-easy footfall. It is a relatively small commuter suburb where many people watch but work in groovy city Dublin. The store itself is positioned on the quoin of a pedestrianised lane which meets the main street of Naas.This location offers the kind of purlieu that attracts a more discerning shopper , (Varley, 2006 Pg. 173). While Emporium Kalus location may not be preeminent, it offers the product ranges and serve that consumers are willing to travel for. The owners leverage its merchandise and style expertise in a way that makes up for what it may lack in store location, so much so that it has been honoured with being be as one of the fifty best boutiques in the British Isles, (www. telegraph. co. uk). Right Quantity at the Right TimeVarley, (2006 Pg. 110), holds that getting the right quantities of merchandise delivered into the retail organisation at the right time is necessary to pay off both basic customer ask and retail management goals. The im plications of getting product levels wrong are great too much stock will imperil the profitability of a range and increase holding costs and too petty stock will cause a loss of customers and sales, both direct and complementary. These errors can occur as a result of late deliveries, late orders or choosing the absurd size mix.Choosing the perfect size pattern for a company store political platform requires careful calculation, (Cook Kimbrough, 2008 Pg. 36). A retailer must decide how much of a finicky product line is needed for their store, (Varley, 2006 Pg. 110). equivalent to the other rights, this decision is super dependent on a fashion retailers target audience. Cook Kimbrough, (2008 Pg. 36), is of the opinion that a good rule of thumb is to deliberate of the bell curve when choosing your sizes for your range. Sizes in the middle tend to sell about twice as much as the sizes at the extreme.As can be seen, the right sum of money includes many different factors and ca nnot be considered independently. Emporium Kalu operates with an exclusive image. They pride themselves on offering product that is different to what you will find somewhere else, (ODwyer as cited in Harris, 2011). They light upon this exclusivity factor through both the labels they offer and through their size configuration. They are not the business of mass selling product. We want the consumer to feel special when she wears her clothing and she can be positive(p) that she will not see other people wearing the same outfit.That is why we buy our ranges relatively wide as opposed to deep, (Louise Flanagan, 2011). Therefore, the co-owners do not purchase large quantities of each style in-store which gains the exclusive feeling. This strategy has proven to be extremely successful for this boutique and is the right quantity for their customer and their retail organisation. Right scathe conniption prices in todays intensely competitive and dynamic retail purlieu is a complex task and create a detailed understanding of consumer behavior and buying patterns lies at the heart of any successful determine strategy, (Gordon et al. 2006 Pg. 22). Retailers can use price in conjunctions with product quality, customer service quality and selling environment to make a very clear statement about the image they wish to communicate and about where they belong in the market, (Varley, 2006 Pg. 13). Therefore, pricing is directly linked to a retailers specific target market and the level of product quality they offer. This is clearly seen in the three main retailing pricing social systems that Zentes et al. , (2011 Pg. 256) puts forward 1. Value/ budget terms Focuses on low cost and high volume selling of product. 2. Medium Price Focuses on 3.Premium Price Focuses on attracting customers who are less concerned with price and more interested product quality and prestige. In order for a fashion retailer to succeed with their pricing structure and iron heel the right pric e, product quality and consumer expectations need to be aligned. Emporium Kalu is positions themselves in the premium price segment. They attract the type of consumer described in this segment by Zentes et als, (2011 Pg. 256). Kate ODwyer verifies this and states that were about beautiful pieces because there are people who appreciate the special and unique, (cited in Harris, 2011).Whilst on buying trips, price is not at the header of the forelands of the co-owners, it is more about whether the collection and quality is a good fit for the store and their customer, if we love a piece, we have to have it, (Flanagan, 2011). This pricing structure prevails for Emporium Kalu as they attract customers who are in stake of product prestige and service over lower cost. Right Personnel What has not been included in the retailings formula for perfection, and should be considered as a new addition, is having the right military unit to carry out the final metre in the retailing process, tha t is, selling product to the consumer.The rational for this inclusion is for without converting store visits into sales, the bottom line cannot be achieved and the other rights are meaningless. Kotler et al. , (2005446), too acknowledges personnel importance and states that it is a key way for a brand to stand out in the mind of the consumer is through providing top quality service as service is important to customers. Having the right personnel in your store can be an invaluable tool in creating and retaining customer loyalty. Individual help by floor staff, personal shoppers or stylists will enhance the customers experience and perception of the brand.For it is here at the customer interface that business is either won or disconnected, (Jackson et al. , 200984). This idea of the right personnel is central to the store offering in Emporium Kalu. The owners Louise Flanagan and Kate ODwyer, right from the beginning were focused on not only providing the customer with exceptional qu ality products and brands but also exceptional service, (Louise Flanagan, 2011). This outstanding customer service is delivered through unrivalled, individual styling and advice, personal accommodate on garments, an in-store deposit facility and one to one after hours service if required.Co-owner Louise prides the store on having staff who provide get-go class, attentive assistance for all customers who walk through their doors, (2011). The consumer and their requirements are valued and are given the upmost consideration. This she believes, in part, is the way forward for independent retailers today. Offering the customer more than just a product but an enjoyable experience and advice they can trust so they feel confident in their clothes too. ConclusionIn order for a fashion retailer to achieve its retail operations objectives a number of considerations need to be taken into account and the customer is central to each. When choosing the right product, the target customer needs to be at the core of all decisions. Trends in their choices, spending power and what influences them are fundamental in selecting different collections. The product has to have the ability to action the consumer, (Varley, 2006 Pg. 76). Jackson et al. , (2009 83), maintains that uniqueness in product, a high level of quality and providing unique product benefits are a small differentiator in fashion.When choosing a retailers location, in order for it to be right, the customers perception of the shopping task and the characteristics of the community and trading area need to be considered. If chosen appropriately, location can be a source of competitive advantage. get the quantities of merchandise right for a retail organisation is highly dependent on a fashion retailers target audience and they what they require. It is a decision that cannot be made independently and is affected by measure and sizing issues.In order for a fashion retailer to succeed with their pricing structure and charge the right price, product quality and consumer expectations need to be aligned. This will create loyalty among customers if a retailer can deliver on their pricing structure. The proposed additive right of retailing, the right personnel could prove to be key in gaining a competitive advantage in the marketplace today. Offering the customer benfits other than the product like an enhanced in-store experience will aid the fashion retailer to confront the current difficult market conditions.