THE MERCHANDISE

While profits of stores like GAP and Marks & Spencer fell, things seemed to be going great for the Spanish retailer Zara. Today, its founder has become one of the richest men in Spain. His policy was straight and simple. People were looking for fashionable things – not necessarily things that would last for ages. So he gave them clothes that were different and fashionable without the hefty price tag, and kept changing the range constantly. The word-of-mouth about Zara’s excellent merchandise kept customers pouring in. In short, select your merchandise carefully. It should be insync with the image. Have an assortment of things to meet the needs of the people. Knowing what to keep & what to discard is the key to an expanding customer base. Retailing is definitely an art. It’s the art of charming your customers. You need to be creative, you have to make them want to own what you have to sell. So put on your thinking hats and rework your retailing strategies. If you want to survive – make them shop till they drop.


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Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006