Wednesday, November 27, 2019
National Bookstore free essay sample
There are two benefits to the data collection offered by multi-channel retail: First, the possibility for gathering more information exists, and the information can be used more effectively. People usually are more comfortable entering information themselves, rather than giving it to a salesperson, said Steve Deckert, marketing manager for Sweet Tooth, a Toronto-based provider of loyalty programs to retailers. So they are far more likely to enter their email address into a kiosk than give it to a cashier. At the same time, by having that information available across a variety of channels, the retailer has more opportunities to capture the information, and more of it. If a retailer can track what a customer is purchasing, and where, more targeted marketing can be introduced. Someone who tends to browse online and then purchase in-store, for example, can be emailed an invitation to a private showing in a store, and the list of products to be shown can be sent before the event, increasing the likelihood of purchase. We will write a custom essay sample on National Bookstore or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Not only is it more likely that the customer will provide important information, but if all the different channels are communicating, then the information only needs to be entered once. If youre going to ask someone for information about themselves, it needs to be available whenever they come to you, said Verizons Bagel. Otherwise, it feels intrusive and annoying to have to repeat the same information over and over again. Enhanced productivity Multi-channel retailing offers benefits for more than shoppers. Workers, too, an benefit from the use of new technology, by arming them with more information and increasing their efficiency. A tablet, for example, frees employees from the point-of-sale system, instead allowing them to carry the register with them. Employees can go directly to the aid of customers, helping them to find out what is in stock, what is available at other stores and when new products might be launching. The tablet also can contain information about the loyalty progr am, so a frequent customer can be given VIP status. Then, when a purchase is ready to be made, the customer does not have to stand in line, but rather can simply continue talking to the salesperson and make her purchase via tablet. Retailing is a cash business. That means all customers pay cash or credit card to purchase your products or services. Unlike some businesses that uses 7 days or 30 days term. A cash business reduces the risks of bad debt. The sales process in retailing is much shorter and easier compared to other business. Customer comes to shop, your staff serve them, customer decide to buy, pay up. The process is pretty straight forward. Are they successful or not? Why? Yes, There owner Alfredo and Escorro Ramos are in the top 23 of the top 40 richest man in the Philippines (2008). 145 branches strong. According to the Individual Audited financial statement for the Year of 2009, total net operating revenues increased with 5. 35%, from PHP 3,727,781. 09 thousands to PHP 3,927,258. 65 thousands. Operating result increased from PHP 78,864. 06 thousands to PHP 141,595. 7 thousands which means 79. 54% change. Return on equity (Net income/Total equity) went from 2. 85% to 3. 67%, the Return On Asset (Net income / Total Asset) went from 1. 53% to 1. 82% and the Net Profit Margin (Net Income/Net Sales) went from 1. 38% to 1. 74% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 101. 30% compared to 85. 74% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 1. 51 to 1. 39 when compared to the previous year.