What is the definition and importance and scope of retail management?

retail management is to rightly manage all the activities needed to carry out to make products or services available to customers from vendor for personal or family use. it carries all the activities that are being done in a business like raising capital, buying products and services, deploying accounting and management information system for control activities, managing warehouses and distribution, developing new products and also the marketing activities. Managing all these activities in retail is what we call retail management.

Importance:

1.it breaks the bulk that comes from vendor into small manageable forms for customer

2. it provides an assortment of products to customer.

3. Not only products is what customers want, they also want service that is being provided by customer

4. sometimes it also manage the inventory and warehouses

5. it also studies customer's needs and wants and provides the sales pattern to the customer

6. it acts as a link between vendor and the end user

7. it provides information as well as convenience to the customers.

scope: http://dibs007.blogspot.in/2009/04/scope-of-retailing-fmcg-2.html