Monday, December 14, 2015

Super Mall

By John Leonard Castillo

A lot of retail stores here in our country have their own kind of strategy that will make their store standout. The retail strategy should not be only unique, but also it should be hard to imitate by their competitors in terms of how they serve their customers, how they sort their merchandise, their store design and display, their communication mix, their pricing, and their location. All of these strategies should have a distinctive competence that adds value to their beloved customers. Based on my experience, I have encountered a lot of services coming from the retail outlets convincing me to buy their products. SM is one of the best retail outlets here in our country, or I should say the best of the best retail outlet I have ever encountered. Since my childhood, SM has already had its name firmly established in the field of retailing. Their retail strategies were well defined and well communicated by their service employees. They make sure of their employees that they are properly trained to lead the customers in buying their merchandise.
Customer service is one of the most effective strategies in the field of retailing. Keeping the existing customers happy is very crucial in a retailing firm and it creates in the customer’s mind the perception of a retailing business that is easy to do business with. It is an excellent competitive weapon and has a special advantage over price competition. SM has done it in terms of leading the field of retailing in customer service. Their service employees are well trained in terms of serving the customers more effectively and efficiently. It is true that a pleasing customer service done by a competent service employee has an advantage over price competition. In SM’s department stores, they have merchandises that are too high when it comes to its price, but customers would still manage to buy this expensive item because of SM’s service employees. In customer service, the most important thing is to keep your existing customers happy and comfortable buying your products.
Merchandise assortment is simple, but it can lead the way to the success of a retail store. SM has done it and still finds a way to improve their sorting of merchandise. When it comes to their department store, the merchandise are properly arranged according to their nature of functions. We call it segmentation. Segmentation is very important to a retail store because it plays a major role in running the business. Customers would always love to buy without hassle. If all the products are just presented without segmentation, customers would end up disappointed to that retail store who doesn't know segmentation and customers would find themselves going to another retail store with a better retail strategy. So, you see, segmentation, or merchandise assortment plays a critical role in a retail firm, it shouldn't be neglected by other retail outlets. If the SM doesn't know segmentation, then probably, Henry Sy would not be the richest man in the Philippines. What I am saying is, it all boils down to retail strategy. We have customer service, communication mix, location, pricing, store design and display, and merchandise assortment. All of these are retail strategies, all of them are important and should not be neglected.

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