Main Article Content
Abstract
Purpose of study: Retail mix refers to the various features of retail strategy planning. Also often called "the 7 Ps" retailing mix details a retail business' approach to its products, price, place, promotion, process, personnel and physical evidence. The aim of study is to know various retail mix strategies that are practiced in the retail sector along with customer perceptions towards those practices and find out the retail mix elements which are not performing well according to the customer perception and offer recommendations for better performance.
Design/methodology/approach: A structured questionnaire consisting of 64 questions was prepared, distributed to 180 customers by using convenience sampling method.
Major Results: Out of the total sample respondents, from the analysis on overall retail mix strategy, 10% of the customers perceived that the overall people strategy is excellent, 10% customers perceived as good, 20% are having average perception, 31% perceived as the people strategy is not good and 29% perceived overall people strategy as poor.
Managerial Implications: The merchandise in the store should be updated regularly along with kids’ wear and kids’ foot wear in the store in order to improve the product strategy. The concept of EDLP (Every Day Low Pricing) should be implemented effectively and the low prices on certain merchandise should be communicated to the customers well in advance