What is a retail buying cycle?

A Retail Buying Cycle is the process that a Retail Organisaion goes through from first establishing a consumers needs up until being able to supply that catogory of consumers with the products they desire.

The need in the market needs to first be determined. For Exmaple, if there is a need for ice-cream, that needs to be established. Then the buyer needs to determine what types of ice-cream would best suite their target customer and then the process of getting the ice-cream to the store and sold to the Customers then starts.

So the steps of the Retail Buying Cycle are as follows:

1. Consumer Needs

2. Store awareness of need

3. Sales Team

4. Store Manager awareness of need

5. Buying Department awareness of need and there starts the process to meet the need

6. Sourcing Department

7. Supplier

8. Distribution to stores

9. Product in stores

10. Receiving of goods in stores

11. Stock Clerk monitors movement of stock

12. Creditors Department makes payment to supplier

13. Stores sell stock

14. Customer purchases stock