Contemporary Retailing Issue

Contemporary Retailing Issue

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Choose one (1) from the below topics to write an essay (maximum 1500 words excluding references) in which you critically evaluate and discuss the chosen issue. Students are required to apply concepts and theories they have learned during the semester, and to discuss in detail the evidence from secondary sources that can be integrated in the evaluation of the issue. To find the evidence, students should independently research secondary sources such as academic and business journals, text book material, company reports, newspapers, the internet and various media sources. The essay must be cited and referenced with relevant, adequate, and up to date references (a minimum of five peer-reviewed academic marketing journal articles). Essays should be submitted through the allocated Assignments section on MyLO.Length: 1,500 words (excluding references) Due Date: Friday 1 September, 5.00pm.Topic 1. Growth of online shopping The evolution of online retailing has transformed from a highly price sensitive market centred on a few product types to a broad range of goods and services across varying price points. This increase in sophistication will coincide with expansion of the internet’s content and capabilities, making execution and personalisation two top priorities for retailers looking to stand out.Topic 2. An appropriate merchandise and brand mixWhen consumers enter a grocery store or a department store, literally thousands of brands bombard their visual field. Some of the brands are national brands, but store brands or private labels have witnessed considerable growth. Some successful retailers have exclusively carried private labels (e.g., Victoria’s Secret, The Gap), while others attempt to increase the overall quality and importance of their private label brands (e.g. Coles, Target), in order to enhance customer loyalty through their brands.Topic 3. The perks and benefits of a loyalty program In a reward point economy, customers spend to receive rewards, incentives and product updates. In a retail industry where there may appear to be little differentiation in product offerings, a good loyalty program may influence store choices. Retailers however may have an uphill battle in their quest to offer differentiated customer service as consumers are becoming more wary of joining yet another loyalty program.Topic 4. Global price transparency The nature of the internet means that consumers and competitors can see the prices set by any retailers in the marketplace. Consequently, showrooming and comparison shopping prevail amongst consumers who become increasingly price sensitive than ever, for example, they choose to cherry-pick across stores. In responding to bargain hunting and price comparison behaviours, retailers are becoming more promotion-driven, especially during an economic downturn.