How Is the Art of Selling in Real-World Retail by Euromonitor International - Research Paper Example

“Real-World” Write-Ups: How Is The Art Of Selling In Real-World Retail The article written by Euromonitor International and published in the Research Portals Ltd. on the 10th of February 2011 proffered issues pertinent to key trends impacting consumer behavior in the light of contemporary factors influencing the external environment. As revealed, the influence of the recent financial crunch, coupled with the fast technological breakthroughs and increasing awareness in the environment paved the way for consumers to respond to five identified key trends, to wit: “liberty bucks the fast fashion trend; building a community around a retail concept; restaurateur instructs its staff in the art of conversation; resurrecting the lost art of “making a sale”; and pop-up shops lend vivacity to high-end brands” (Euromonitor, par. 2). The trend in fashion was exemplified by Liberty, a UK based retailer of clothes, in terms of organizing groups of clientele who endeavor to learn on crafts such as knitting and sewing, among others.

The same strategy was reported to be applied by Nike, as the company organized sports activities in various community groups that share the same interests. In doing so, the strategy of highlighting shopping as a social activity is reinforced. The value of conversation and effective communication to clients was enhanced by Pizza Express through hiring “actor Karl James to teach its staff how to better interact with diners” (ibid, par. 17). In addition, retail shops realized the need to retain front line personnel whose role includes persuasion in the sales process.

Finally, as stated, “pop-ups, temporary shops often in unusual spaces, whose lifespan can range from just a couple of hours to a few weeks, are helping to bring some spontaneity and excitement to retailing” (ibid, par. 26). Definition of Terms MARKETING RESEARCH is “a systematic, objective collection and analysis of data about a particular target market, competition, and/or environment. It always incorporates some form of data collection whether it be secondary research (often referred to as desk research) or primary research which is collected direct from a respondent” (Research Portal, par. 1). POP-UPS – are “temporary shops often in unusual spaces, whose lifespan can range from just a couple of hours to a few weeks” (Euromonitor, par. 26). TREND ANALYSIS is the “method of time series data (information in sequence over time) analysis involving comparison of the same item (such as monthly sales revenue figures) over a significantly long period to (1) detect general pattern of a relationship between associated factors or variables, and (2) project the future direction of this pattern” (Business Dictionary, par. 1). Works Cited Business Dictionary.

Trend analysis. 2011.Web. 24 February 2011. < http://www.businessdictionary.com/definition/trend-analysis.html> Euromonitor International. “How Is The Art Of Selling In Real-World Retail.” Research Portal, Ltd. 2011. Web. 24 February 2011. Research Portal, Ltd. Definition of Market Research. 2011. Web. 24 February 2011.