Retail Marketing- (Retail Audit Analytical Memos) Assignment

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