Retail Marketing- (Retail Audit Analytical Memos) - Assignment Example

Country Road inserts his/her s Country Road is an Australian wholesaler and retailer that operates in Australia, New Zealand, the Gulf region and Singapore. The company has 56 of its own standalone outlets whereas it has presence in 77 department stores where it provides concessions. The company offers a diverse range of apparel for men, women and children along with accessories and home products. The address of Country Road store chosen for the analysis is: Charlestown square, Address: l02/30 Pearson St, Charlestown NSW 2290.

One of the reasons why Country Road has been chosen is that it has an identity of providing a unique blend of contemporary products that are also rooted in Australian heritage (Country Road, 2014). The retail offer refers to core essence of the offering (Berman & Joel, 2013). Country’s Road’s retail concept or core offering is that of high quality apparel that reflects the Australian lifestyle. Although the primary target is middle to high-income groups, the company offers seasonal price promotions including mid-sales of upto 50% off on products in store.

At the same time, however, the company is not a discount retailer and focuses on providing superior quality products that reflect the Australian fashion and lifestyle. The products are neither distinctly classic nor purely modern but a unique combination of both. The significant retail mix elements in this case are location, assortment and communications mix. The company operates both brick-and-mortar stores as well as an online store. The online store has been introduced owing to increased demand for electronic purchases by consumers and falling sales in brick-and-mortar stores.

Keeping in view the rising demand for smartphones and tablets rising, the company has introduced a mobile shopping app which would further enhance customer experience. The company’s iPhone app, for instance, has been a big hit in Australia after eBay’s and Apple’s apps. Online shopping has further necessitated the need for managing real-time inventory for the company as customers look forward to getting the same retail experience online as they would in store. Furthermore, online shopping shall provide impetus for greater sale of full-priced items even before the company needs to discount them to offload remaining inventory.

This way, margins can be increased. As far as assortment is concerned, Country Road offers few product categories (including apparel and home products) even though it offers several items within each category. For instance, under the category of women’s apparel, the company offers dresses, t-shirts, jeans, shorts, pants, shirts, sleepwear, jackets, knitwear and sweats (Country Road, 2014). Then again, it offers various items under the footwear category such as flats, boots, heels and sneakers.

As highlighted earlier, one of the major issues at Country Road pertains to the management of real-time inventory as well as cost management. Although the company has linked its mobile app with its Oracle retail merchandising software, work needs to be done in other areas such as online delivery options. The company currently charges $10 for delivery services online even though most other retailers offer the same free of charge (Foo, 2011) (Methananda). Furthermore, delivery times are lower than industry average which may need to be addressed in foreseeable future.

ReferencesBerman, B., & Joel, R. E. (2013). Retail Management: A Strategic Approach. Harlow: Pearson.Country Road. (2014). Country Road: About Us. Retrieved from Country Road: http://www.countryroad.com.au/information/105114Foo, F. (2011, August 16). Online, mobile apps key to Country Roads future. Retrieved from The Australian: http://www.theaustralian.com.au/technology/online-store-ensures-sales-never-get-away/story-e6frgakx-1226115505639Methananda, N. (n.d.). Country Road to Trial ‘Never Lose a Sale’ Free Delivery Options.

Retrieved from Power Retail: http://www.powerretail.com.au/news/country-road-to-trial-never-lose-a-sale-free-delivery-options/