This book offers a thorough exploration of the key concepts, strategies, and practices that define effective retail management today. The book begins by outlining the foundational principles of retail management, including the evolution of retailing, the various types of retail formats, and the significance of consumer behavior in shaping retail strategies. Readers will gain insights into how market research and consumer analysis inform product selection, pricing strategies, and promotional tactics, enabling retailers to create compelling value propositions that resonate with their target audiences. In subsequent chapters, the book delves into critical operational aspects of retail management, such as inventory control, supply chain logistics, and store layout design. It emphasizes the importance of efficient inventory management systems and effective supply chain practices in optimizing operational efficiency and ensuring product availability. Additionally, the book highlights the role of technology in modern retailing, exploring how digital tools and e-commerce platforms are transforming the retail landscape. This comprehensive book is an indispensable tool for anyone seeking to master the principles of retail management. It equips readers with a deep understanding of the retail industry, empowering them to develop effective strategies that enhance customer satisfaction, drive sales, and ensure long-term success in the ever-evolving world of retail. Written for students, aspiring managers, and seasoned professionals alike, it serves as both a textbook and a practical handbook for navigating the complexities of the retail industry.

Preface

Unit 1. Introduction to Retail Management

Unit 2. Formats of Retail

Unit 3. Store Layout

Unit 4. Pricing Strategy

Unit 5. Cash Management

Bibliography.

Dr. Bhupesh Kumar, Principal, Institute of Hotel Management Catering Technology and Applied Nutrition (IHM) Ranchi also known as “The Madua Man of Jharkhand”, is an alumnus of Institute of Hotel Management, Catering Technology & Applied Nutrition, Bhubaneswar. He is having a good experience of 27 years in Academics and Training. He has completed Ph.D. in Tourism and Hospitality Discipline on Crisis Management in Hotels from IGNOU. He has done Master’s Degree in Tourism Management, from MK University. He started his career as an Instructor from Indian Institute of Science & Management, Ranchi, Jharkhand. Then he associated himself with Vivekanand Institute of Hotel & Tourism Management, Rajkot, Gujarat as a Lecturer where he was actively involved in conducting training programs & teaching for the students & was actively associated with various reputed & important catering assignments. He also looked after the Training & Placement of Students for India and Abroad. After 2 years as a lecturer, he was given the responsibility as an HOD for Food & Beverage Production and Housekeeping department. He was appreciated for his contribution in teaching and organizing different events at VIHTM. In 2005, he joined BCIHMCT as an Assistant Professor and climbed the ladder till the Director of the Institute by 2017. He worked at BCIHMCT for 14 years. He has a vast experience in Placement and Training of Hotel Management Students, and Hospitality Research. He is an Ex-Chief Editor of Indian Journal of Applied Hospitality and Tourism Research a reputed journal of Hospitality Industry in India; also, he is an expert in

NAAC Accreditation and ISO 9001:2008.

He has published research works in International Journals on different topics like Service quality in Hotels, HR issues and Crisis Management etc. He has authored books on Indigenous Cuisine and Culture of Jharkhand and manuscripts on various hotel Management subject for Frank Bros Publishers. He has been Awarded as the best educator in Hospitality education by the International Society for Hospitality Education at Hospitality Conclave held at IEC College, Greater Noida, U.P., India on 18th October, 2016. He has received the President’s Award from Indian Hospitality Congress for 2015. His research paper on “Assessing Staff Turnover in Luxury Hotels of India: What is the Impact of Professional Enthusiasm, Organizational Loyalty, Job Security and Additional Benefits” was awarded as the best paper at the APTA

19th Annual Conference 2013 for “Integrated Tourism and Hospitality Management: Innovative Development for Asia and Pacific”. He has been awarded with SAF Madanjeet Singh Scholarship 2004 by SAF India. He has been honoured for valuable contribution in the launch of Vibrant Gujarat Navratri Festival and Vibrant Gujarat Uttarayan Festival in 2002 and 2003.