Factors Affecting the Success of Retail Shopping
Shopping is an activity by which a consumer browses through the various available products or services offered by one or more sellers with the intention to buy a suitable variety of them at the retail price. Shopping is the most popular and widely adopted recreational activity, carried out across the world every day. A person can shop for a variety of items either in the physical brick/mortar stores or the online shopping sites. The latter is considered to be more convenient because of the ability to carry out all the shopping without having to leave the home or office.
There are many factors that contribute to the success or failure of the retail supply chain. These include the amount of merchandise carried by the retailer, the nature of the business/relationship between retailers and suppliers, the responsiveness of the retail chain and the quality of the merchandise. All these factors affect the profitability of the business. The success of a retailer depends on how well he or she understands the impact of supply chain on the profitability of his/her business.
The relationship between the supply chain and retailing is complex and multifaceted. For instance, a retailer needs to comply with the various laws of supply chain also while stocking merchandise. The retailers have an important role to play in enhancing the profitability of the retail supply chain also. The factors like overhead costs, returns, etc. need to be understood carefully by the retailer so that he/she can achieve a higher level of profitability.