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Project Assignment: Retail Management Objective: To gain an understanding of Retail Management topics in practical situation. After completing the project, the students would be able to: Relate Retail Management concepts to actual retail settings Understand the implementation of Retail Management in real life scenarios Retail Management challenges faced by various retail stores These learnings shall be ensured through research, primary as well as secondary various Retail Stores Groups are expected to gather the following information . . . . . Type of Retail store in terms of Format, Retailing Processes, ownership Type of different channel formats, if any Retail store size, location and its appropriateness Product assortment and their respective target segments Private labels, if any Pricing Strategy being implemented Various marketing communications used inside the store. 1. visual Communication-store frontage and retail identity 2. Store Planning - Space allocation of the store and store layout 3. Merchandising - Merchandise presentation, fixtures, signage, Point Of Sale Material (POSM), plannogramming 4. Store Design - Store ambience, lighting, sound, interior design and overall consumer experience Salesperson management - Number of salespersons, cost of each salesperson, recruitment process and training process for salespersons Innovative use of technology Retailer Profitability in terms of:- . 1. Average daily footfalls 2. Sales - Gross Sales, Net Sales, Sales growth, Sales per unit of space, category wise sales, department wise sales 3. Profit - Gross Margin, Net Margin 4. Efficiency - Conversion rate, Average transaction value, Inventory turns, Product returns, accessory sales as a percentage of overall sales, GMROF, GMRON 5. Employee Productivity - Sales per employee, Sales to salesperson cost ratio Any other industry specific learning Key takeaways from the project