The retailers could see the more profits if they have been involving in fashion retailing. “Retailing is a part of the continuous process going in between the farm and the factory and household in which goods are changed in form, packed, transported and subdivided”. Today, it's almost economic suicide for any retailer not to be able to sell online. … It can be defined as the process of “buying clothes from the manufacturer and selling them to the customers”. Originally these Companies catered to domestic markets in the countries of their origin. 1. Retailing plays a significant role in economic system of any country. Now to have the right merchandise at the right time ( as clothes have seasonal culture to it ) it becomes more important. The Omnichannel marketing approach is becoming ever more important considering the preferences of today’s consumers. Retail stores must make a certain amount of money each day, week, month and year in order to stay in business. According to Fashion United, its market value is about 385.7 billion dollars, which makes up 4% of the market share. In the final part of a series on successful retailers, Greg Petro, CEO of First Insight, examines H&M's business model. This will help learners to understand the relationship between these aspects of retailing, and will reinforce their appreciation of the importance for The world's 200 largest retailers generated $2.14 trillion in sales during 2002 and captured 30 percent of worldwide sales. Please enter your username or email address to reset your password. 4  The clothing and fashion branding categories make people rich because of effective sales. Berlin School of Business and Innovation GmbH, Potsdamer Straße 180-182. These firms represent a variety of nations and such categories as department stores, specialty stores, category killers, discount stores, mail order, and so forth. The Importance of Fashion Retail in India, Gauahar Khan-Zaid Darbar will tie knot on 25th December, digital wedding card is out, Giorgia Andriani looks hot and sexy in a Floral Bikini, Kangana Ranaut slams Priyanka Chopra and Diljit Dosanjh once again. viii 8.6 The Internet 213 8.7 The ‘grey market’ 215 8.8 Retail marketing effectiveness 215 8.9 Summary 216 Further reading 216 Fashion – what is the first thing that comes into your mind at the mention of this word? India is an exceptional market place that will be occupied by more effective fashion retail sector. A retailer’s service also helps to enhance a product’s image. Many industries together form the fashion industry as we know it today, such as merchandising, textile and designing. The Importance of Retailing 1) Sales to Ultimate consumers of the products In a retail transaction, the goods and services are sold to ultimate or final consumers. It may also be helpful to compare the influence of styling and trends on the retailing of goods and services other than fashion clothing. 5. A major section of fashion careers is the retail business. Fashion retail is a diverse sector of the fashion industry, where you will need a combination of a strong academic background and interpersonal skills to do well in the profession. Now-a-days, retailing is characterized by large multiple chains rather than small scale independent retailers. 8.2 The importance of fashion retailing 196 8.3 Structural issues 198 8.4 The industry’s components 202 8.5 Trends in retailing 208 Contents . The following are some steps that will guide you to a career in fashion retailing: Step 1: Educational qualifications: In order to enter this industry, you must have a bachelor’s degree in fashion retailing, fashion marketing, fashion merchandising or a related field. Products are created for consumption and satisfaction of the people. In these present days fashion retailing is going well and its development will be increased more at future. Fashion internships prove to be extremely beneficial if you want to get some on-the-job training before you get to the real deal. One reason for the importance of store design is that the flow of a store's layout determines how customers shop. On the most basic level, the importance of merchandising is reflected in sales. This season includes Cyber Monday, the biggest day of the year for online sales. the principles of fashion retailing. The college helps students acquire leadership and decision-making skills that are crucial in the business setting today. Online retailers can increase their sales and profits faster than a brick and mortar establishmen… Today clothing and fashion centres are rapidly growing so fashion retailing could be standing tall for many years. 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