Retail Industry Domain Knowledge - Foundation

  • Teacher: TechnoFunc
  • Released: 2022-12-23 01:59:28
  • Level: Beginner
  • Duration:
  • Price: $
Certificate:

Must pass final exam in score over 85%

Retail Industry Domain Knowledge - Foundation

Free for members

This course will transform you in a relatively short time to help you see all the elements of the retail business. Retail is the sale of goods and services from individuals or businesses to the end-user. The retail industry provides consumers with goods and services for their everyday needs. Retailers are part of an integrated system called the supply chain. A retailer purchases goods or products in large quantities from manufacturers or directly through a wholesaler, and then sells smaller quantities to the consumer for a profit.

This industry is comprised of a variety of stakeholders. Modern retail players offer the flexibility to buy products from around the world to consumers. This has been possible due to the model of the global supply chain that ensures their products can be cost-effectively sourced from various locations and delivered to individual consumers irrespective of their locations.

This sector has its own dynamics and challenges and retail industry players adopt unique strategies to overcome these challenges in order to offer customers the right products at the right time for the right price. Technology is disrupting retail stores and in order to differentiate, retail stores need to focus on the in-store experience, staff-customer interactions, quality of goods, and differentiated services.

This course is a foundational course to build a basic understanding of the retail industry. This course will introduce the basic concepts of retailing to the participants. This course will help you drastically improve your knowledge and skills by helping you understand key concepts, terminology, issues, and challenges associated with the retail industry.

This course will also focus on how the industry is deploying technology to meet some of those challenges. In this course, we will discuss the evolution of the industry, its business model, main sectors, value, and supply chain, and the competitive environment in which the industry operates. Students will also learn about the current trends and technological advances happening in the industry.

The key takeaway would be understanding how a retail business works; the core issues and challenges involved; the key terms and terminologies associated and an appreciation of the retail sector.

We will provide you with all the materials you’ll need to complete the course. There are no deadlines to worry about and enrolment for this course is open 365 days a year, worldwide. Our exclusive courses provide the perfect opportunity to expand your knowledge, develop new skills and explore new professions.  Upon successful completion of your course and on passing the final assessment, you will be awarded an certificate of completion. Each of these certificates could prove helpful in supporting future job applications, or helping you climb the career ladder with your current employer.

Learning Outcomes - What you will learn!

The retail industry is evolving and becoming quite complex with the advent of new business models and technological advances. Those interacting with this industry in different capacities need to have a broader view of the retail business and at the same time to be able to understand the business model, dynamics, and other details. Even people working for years in retail have problems with seeing the macro view and this course bridges this gap. This course will transform you in a relatively short time to help you see all the elements of the retail business.

After studying this unit, the learner should be able to understand:

  • Introduction, evolution and current landscape
  • Business model and main functions of retail industry
  • Describe the Benefits of Retailing
  • Key sectors – different classifications in retail establishments
  • Value chain of retail industry
  • Revenue models of industry
  • Key drivers and dynamics
  • Retail Industry – Performance Metrics
  • Key Roles & Careers in retail
  • Current trends in retail industry
  • Innovative Retail Technologies
  • Competitive landscape of the retail industry
  • Challenges & strategies for overcoming retail industry challenges
  • Retail Industry’s technical terms and jargon
  • Gain certification

Free for members

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