This paper aimed at reviewing some retail marketing theories and evaluating its applicability in increasingly narrowing contexts of fashion and fast fashion sectors.
Retail marketing theories focus on attracting customers to different store forms and online sales. The retail mix should be the most suitable one to attract maximum customers to enhance revenue for the firm.
Attracting customers involve efficient customer relationship management to win their trust and loyalty. Companies adopt several methods for this. In online marketing introduction and enhancement of virtual shopping experience will be useful.
Success of retailing depends on service quality which makes customers satisfied. Repeated satisfaction will build loyalty to the firm. This is the aim of all firms. Frequent measurements and monitoring of service quality and customer satisfaction can lead to increasing loyal customers.
Fashion is not a necessity. Its customers are fashion-conscious young generation of modern lifestyles. To be successful, firms need to understand changing fashion tastes and shopping behaviour of customers. Firms use many methods for this.
Fast fashion involves rapid replacement of limited stocks with fresh fashions. The limited stocks are sold out fast resulting in large number of customers going away with unsatisfied demand. This is expected to trigger repeated visits. Unless repeated visits occur in large numbers, fast fashion will fail. Fat fashion firms can use retail marketing theories to achieve this.
Zara is used as a real life example to demonstrate how retail marketing theories can be adapted to the context of fast fashion. Zara’s online sale has not picked up well. Zara needs to be cautious in its store formats to ensure that customers do not go away permanently due to inconvenient formats and layouts. Monitoring customer visits and their conversion into purchases is essential to detect any sign of this at the earliest.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Retail Marketing Theory and Dimensions
- Attracting Customers- Customer Relationship Management
- Virtual Shopping Experience in Online Shopping
- Measurement, Monitoring and Control
- Fashion Retailing
- Marketing Theory in Fashion Retailing-Different Methods of Satisfying Customer
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper examines the application of retail marketing theories in the context of fashion and fast fashion industries. The paper reviews key theories and evaluates their effectiveness in attracting customers, building loyalty, and managing customer relationships in these dynamic sectors.
- Customer Relationship Management
- Virtual Shopping Experience in Online Retail
- Service Quality and Customer Satisfaction Measurement
- Fashion Industry Trends and Consumer Behavior
- Fast Fashion Strategies and Retail Marketing Theories
Zusammenfassung der Kapitel (Chapter Summaries)
The paper begins with a brief introduction, defining retail marketing theory and its application in attracting customers to different retail formats. It then delves into the key dimensions of retail marketing theory, focusing on attracting customers, managing customer relationships, and the importance of building trust through commitment to quality and service. The paper explores the role of virtual shopping experience in online retail and the importance of measuring, monitoring, and controlling service quality and customer satisfaction. The paper then transitions to a specific focus on the fashion industry, analyzing its key drivers and exploring the diverse strategies employed by leading fashion retailers. The paper concludes with an examination of the challenges and opportunities presented by fast fashion strategies and the role of retail marketing theory in achieving success in this competitive sector. The paper uses Zara as a real-life example to illustrate the application of retail marketing theories in the context of fast fashion.
Schlüsselwörter (Keywords)
The key terms and concepts explored in this paper include retail marketing theory, customer relationship management, virtual shopping experience, service quality, customer satisfaction, fashion retailing, fast fashion, and Zara as a case study.
- Quote paper
- Barrack Kennedy (Author), 2013, Retail Marketing Theory In Fashion Retailing Context, Munich, GRIN Verlag, https://www.grin.com/document/269816
