In this sector, the work of people is assured, and they get regular and fixed salaries. There has been an increasing retail store establishment in North American countries Canada with stores like Target and Nordstrom which have been establishing their bases from some time. Organized businesses are related to government, business, and large scale of industries whereas unorganized businesses are related with pretty trade, small scale operations, and private businesses, etc. I am professor of management specialing in marketing .i wish to post my expert lectures so what is the procedure. Today these countries have a growing economy because of the influx of organized retailers into their markets. The organized retail industry is growing very rapidly and in coming years the growth will be exponential in order to meet the increased demand from the customers all over the world. Compared to other supermarkets was marked as heavily discounted. Presence of 7-eleven in small cities and big cities has benefited the customers in both retailers and customers equally. Not every retail store can afford to give all the products at a low price. This sector includes low-skilled businesses. This, in turn, has affected and generated employment for many local people. I am a serial entrepreneur & I created Marketing91 because i wanted my readers to stay ahead in this hectic business world. The prominent advantage of having organized retail for customers is that they get a wider selection of goods along with more convenience and an enhanced shopping environment. Of course, the retailer gets an enormous discounted price but stock maintenance and storing and warehousing charges reduced the discount and add up to the cost of the retailer. The retail sector can further be classified in organized and unorganized retailing on the basis of employment condition. Few of the employees on the payroll of the organization with others are on contract. Organized retail or modern retail is usually chain stores, all owned or franchised by a central entity, or a single store that is larger than some cut-off point. The Organized retail sector is regulated by the government and the employment terms and working hours per day in this sector are fixed. Retailing can be differentiated from wholesaling or manufacturing because of its certain distinct characteristics which include – 1. You can follow me on Facebook. Right from Cashier to store manager people from various backgrounds can apply in a retail store without age restriction and get employed and start earning daily wages have the employment opportunities increase more and more people get employed and this results in the betterment of the economy overall. Location is most important factor in retail business since it has to come into direct contact of innumerable consumers spread in the area. Organizations like schools, enterprises, and hospitals fall under the organized sector. Most of the companies today focus on internal customers which are nothing but staff because if the internal customers are happy they will work hard to ensure that the external customers are happy. In the above article, you have learned about both organized and unorganized retail sectors. Salary given to employees is equal to the salary prescribed by the government. Best Tips to Master Charisma Skills, Etiquette: Meaning, Types, Benefits and Basic Rules. Organized retail shops should get acquainted with technology for this purpose. 2.OBJECTIVES 1. Un-organised retailing, on the other hand, refers to the traditional formats of low-cost retailing, for example, the local kirana shops, owner manned general stores, paan/beedi shops, convenience stores, hand cart and pavement vendors. The characteristics of retailers are listed below. The storage of the products may present a big problem and storage of department stores which is why that may be a compromise on quality. The Indian Retail Industry is the fifth largest in the world. Scope of Package good manufacturer control all retail In organized retail industry retailer Influence business to a large extent. This also reduces profitability and increases the cost. Apart from these advantages, a major advantage for customers is that these retail formats have huge discounts which unorganized retail formats may not be able to provide. September 15, 2019 By Hitesh Bhasin Tagged With: Retail Marketing. It might be that the retail stores intend to finish the existing stock which is why they might price those few products at a discounted price or the product might be nearing the expiry which may cause them to give it on offers. You can follow me on Facebook. The retail sector has given a huge push to the farming sector. Thus organized retail has opened and expanded opportunities of the job for many people. Teamwork is a part of time management which means that the work should be done together with the team so that the time for the work is minimized and the goals are reached faster and effectively. countries is control by major. There is job security for employees in the Organized retail sector. Importance of Retailing - Why Retail is Important? There may be certain products which are discounted are sold at a lower price but the reason behind them may not be justified. Sale to Ultimate Customer: Goods or service in a retail transaction are sold to final customer for consumption. Characteristics of Retailing. Less salary is paid to employees than the salary prescribed by the government. Displaying the items without any particular categorization or stacking up in piles haphazardly is no way to manage inventory. Huge quantities of goods are stocked up in the retail store and huge discounts which are gained by the company are passed down to the customers. They occupy a middle position, receiving and gassing on products from producers and wholesalers to customers. Positive customer experience also adds up to the brand value and the image of the retail and plays a very important part and customer retention. The middle-income level group expects the products to be at a decent and affordable price and the number of such people is increasing every day which is the reason why the retail sector has to focus on such customers. Therefore it caters many customers going to its wide presence. There is low unemployment in the organized sector, and people lead a better life working in organized sector than working in the unorganized sector.