Case Study On Pantaloons

“We believed from the start that if we brought the customer quality merchandise at the right price and offered excellent service, we could change retailing in the United States. Today, we are the model of what retailing should be.” – Bernie Marcus

It requires a great deal of effort to induce satisfied customer to switch away from their current existing. Thus, customer satisfaction is been given top priority in today’s competitive world.

Evaluate the international retail environment and discuss how changes over the last decade have influenced the development of retailing.

Consumer today have a different expectation than a decade ago. Consequently, I believed if a Retailer want to be survive and thrive in the hostility of the today’s market, they must focus on all four of competitive priorities such as cost, quality, time, flexibility.

Today’s consumer has multiple options to fill their shopping needs. They have the option to shop at online retailers, big box and mass merchant stores, department stores, smaller chain stores, individual kiosk, and other local or international convenient stores to fill their shopping needs. Regardless of the retailer that a consumer chooses, all retailers aim to satisfy their shoppers’ needs and strive to be the best in the business. In order to adequately and successfully do this, retailers must develop a firm mission, vision, and have core values for how they will operate as a retailer to meet the frequently changing demands of its consumer base.

Every company wants to make money and bring in customers, but what about making loyal customers out of them so they continue to come back? How do you even bring in potential new customers and turn them into loyal customers to begin with? The lifetime value of a customer is a predicted value of net profit credited to the total future relationship of a customer. We want to know the financial value of each customer so that we know how much to spend in marketing when looking for new customers and the potential of profits back from the money in advertising spent. The grocery store chain must start looking at customers and how to make them happy and loyal in the long run, as opposed to how to boost sales right now. From the Marketing Management book, a well-known rule states that 80 percent or more of a firm’s profits come from the top 20 percent of its customers. Thus, we want to focus on brining in new customers with successful marketing and turning them into loyal returning customers.

As we all know, the retail industry is very crucial and is highly competitive. As this company

Got Apparel is a leading USA based retailer providing the best in clothing and accessories for women, men and kids. At Got Apparel, it always emphasis on quality, so all things you find here like the wholesale clothing for men and women is ideal down to the minimum detail. Be it color, size, fit or design, it knows how to pick items that will make you look good on each occasion. Here you can get 100% formal options which include buttoned-up shirts, dress shirts and woven shirts. If you are fond of casual clothes then here you can get polos, tank tops, t-shirts, shorts, and performance bottoms in colors, styles and sizes of your choice.

As it is a large retail store, management becomes more complex. Supply chain management is considered a significant strategy in retail stores. Management of accounts, employers, and supply chain is not an easy task to handle in these type of large retail stores. Employee turnover is the major issue because employees in the retail industries will never continue to work. It is usual complain from customers that there is no good customer service. This is because of often changing employees. This issue can be

The retail sector incorporates businesses that sell goods and services to consumers. Over the past couple of years, there have been changes to the industry which has provided favorable returns to some companies but adversely affected the bottom line of others. The retail industry was originally a made-to-order market which would require excessive need of brick and mortar operations. Due to technological advances, the industry has shifted towards a made to stock strategy in order to keep up with consumer demand. In addition, the consumers today prefer to browse through a catalog or through the internet in order to make spending decisions and then wait for the item to be shipped.

•  India's $250 billion retail business is the eighth largest in the world and has the potential to grow 7 per cent by 2011. [McKinsey Report] For a company already dominating the world markets, this is an un-passable opportunity.

Today’s customers are more aware and empowered, and have more bargaining power due to the exponential increase in competition – direct, indirect or substitute. In retailing, they want hassle-free shopping, have less time at their disposal to locate the shop and the merchandise and are reluctant to keep waiting. The modern format retail stores are doing their best to anticipate the customer’s demands and are going all out to redesign their store interiors, offer more choices in varieties and assortments, and are giving as many services as feasible.

The retail chains offer footwear, sporting goods, clothing, sportswear, home ware and accessories. The group operates in three segments namely Apparel, Home and Central Services.

Organizations like Amazon store realized that attaining long-term customer value through delivery of quality services is the key to their existence. Also, be alert to the customer’s needs and wants, because having a loyal base of satisfied customer brings relevant performance indicators. For example, increase in sales improved profits, and possible higher market share (Shamma & Hassan, 2013).

It is imperative to satisfy customers and give them an amazing experience at the company. While it cost less to sell to existing customers and companies can increase profit by selling to the same customers; if customers are satisfied, there is more chance they will come back for more services or products. Satisfied customers are a free marketing for the company. However, it is the opposite if customers are dissatisfied. Dissatisfied customer will tell 8 to 10 people about his or her experience (O’Brien, A & Marakas, G. 2004). If by any reason, representatives see that the customer is not satisfy, they should act fast and fix the problem. Furthermore, there is more chance for sale representatives to sell to an existing customer that to a new customer. A good strategy for customer retention is to reward good customers. Companies can easily do