Retail Management – An Overview and Key Aspects for Success

Abstract

Retail management refers to overseeing and controlling various activities within a retail environment to ensure the success and sustainability of a business. This paper delves into the key components of retail management, including customer service, inventory control, pricing strategies, store design, marketing, and technology integration. It discusses the impact of globalization and digital transformation on retail, highlighting emerging trends, challenges, and opportunities for retailers. Through this research, the paper offers a comprehensive understanding of how effective retail management practices can foster competitive advantages in a rapidly evolving industry.