Overview of the Retail Industry

Description

Overview of the Retail Industry

This course offers an introduction to the retail industry, outlining what retailing is and the role it plays within the wider supply chain. You’ll explore different retail formats, from traditional brick-and-mortar stores to online channels, and gain insight into the key trends shaping the sector today. Studying this course will equip you to step into a new job, role, or project with confidence, accelerating your learning in the field. It will also enable you to contribute more meaningfully to discussions and become a more valued member of your team.

Who Is It Suitable For?

The program is suitable for all those new to retailing including:

• Anyone starting a career in retailing
• Anyone in a consumer goods manufacturer that wants to start learning about the manufacturer's potential customers
• Anyone working in a company providing services to retailers, who wishes to either sell to retailers more successfully or play a role in project implementations for retailers.

Class Objectives

Upon completing this course, learners will be able to:

• List the key purposes retailing serves
• Identify the various retail segments and their key characteristics
• Describe the main trends in the industry
• Recognize some of the terminology unique to the sector

Detailed Content

The detailed content includes:

• Introduction to Retail
  • What is retailing?
  • The role of retailing in the supply chain
  • The scope of retailing
  • Merchandise practices: Category Management and Merchandise Management
• Retail formats:
  • Department stores
  • Mass merchants
  • Large format speciality stores
  • Small format speciality stores
  • Food and drug retailers
    • Supermarkets
    • Convenience stores (C-stores)
    • Drug stores
  • Online retailers and home shopping
• Key Retail Concepts, Developments and Trends:
  • Artificial Intelligence (AI)
    • Machine learning
    • Computer vision
    • Deep learning and neural networks
    • Natural language processing (NLP)
    • Robotics and Autonomous systems
    • Expert systems
    • AI agents
  • Technology
    • Warehouse automation and robotics
    • Augmented reality
    • Radio frequency identification (RFID)
    • Edge computing and the internet of things
    • Voice recognition and processing
    • Electronic shelf labels (ESLs)
    • Retail media
  • Customer relationship management
    • Decile analysis
    • Creating a unified customer view
    • Key operational steps in CRM evolution
  • Personalized customer engagement
  • Omni-channel retailing
    • The challenge of online returns
  • Dealing with supply chain disruption
  • Sustainability
  • Ethical sourcing
  • Brands vs. private label
  • International expansion
• Module Summary
• Comprehensive mastery test
• Learners completing the mastery test and obtaining a 70% pass mark will also receive a mastery certificate upon completion.

Customer Feedback

A survey of over 1,805 of our learners rated this class in response to 4 key questions as follows:

1. Has this course helped you achieve your personal goals?

2. Has this course helped you do your job better?

3. How likely would you be to recommend the course to a friend or colleague?

4. How would you rate the course overall?

Hours of Study

The average time to study this class is 3 hours

Resources Included

The class includes the following downloadable resources for printing and review:

• Guide on navigating Martec e-learning courses
• CPE credits for Overview of the Retail Industry
• WIKI links for Overview of the Retail Industry
• Overview of the Retail Industry Module Summary

Pre-Requisites Necessary

There are no pre-requisites necessary before studying this program.

After This Program

The next logical program in developing learners’ knowledge is Overview of Key Retail Processes.

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Customer Reviews

Write a review

By Soraya on 29th October 2020

"Clear course and not too long so it keeps your attention."

By Henrik S. on 29th October 2020

"The part Key retail trends was really interesting"

By Josefina C. , major technology vendor on 21st September 2020

"A lot of good metrics for the industry "

By Saikat B., IBM on 7th September 2020

"Very good starting point for industry education. "

By Atul B. on 5th August 2020

"Gave a good insight into Retail business. "