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Retail Management Interview Questions & Answers - Learning Mode

Retail Management Interview Questions & Answers - Learning Mode

The various processes which help the customers to procure the desired merchandise from the retail stores for their end use refer to retail management. Retail management includes all the steps required to bring the customers into the store and fulfill their buying needs. Retail management makes shopping a pleasurable experience and ensures the customers leave the store with a smile. In simpler words, retail management helps customers shop without any difficulty.

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Subcategories for Retail Management Interview Questions & Answers - Learning Mode

Following are sub categories for which Interview Questions & Answers are available under Retail Management Interview Questions & Answers - Learning Mode. Please select the appropriate sub-category:-

Consumer Behaviour in the Retail Context Interview Questions & Answers (72) Learning Mode | Exam Mode

Retail Operations Interview Questions & Answers (35) Learning Mode | Exam Mode

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Retail Management Interview Questions & Answers - Learning Mode
Try Retail Management Interview Questions & Answers - Exam Mode
Question: What is a variety store?

Answer: A variety store is a retail store that sells a wide range of inexpensive household goods. Variety stores often have product lines including food and drink, personal hygiene products, small home and garden tools, office supplies, decorations, electronics, garden plants, toys, pet supplies, recorded media and motor and bike consumables. Source:
Question: Explain environmental theory of retailing.

Answer: As retail institutions are economic entities they also confront an environment. Retail environment is made up of customers, competitors and changing technology. The changes in the external environment can alter the profitability of retail organizations. If an organisation is not able to cope with its external environment it will soon vanish from the market. Thus, the birth, success or decline of different forms of retail enterprises many a times is attributed to the business environment. Source:
Question: State the features of full- line discount store.

Answer: 1. It conveys the image of a high-volume, low- cost outlet selling a broad product assortment for less than conventional prices.
2. Shopping carts and centralized checkout service are provided. Customer service is not usually provided within store departments but at centralized area.
3. Products are normally sold via self- service pos equipment with minimum assistance in any single department.
4. Less fashion- sensitive merchandise is carried. Source:
Question: What is wheel of retailing?

Answer: Wheel of retailing refers to a company entering the market with low prices and affordable services in order to challenge competitors. The wheel of retailing is a theory to explain the institutional changes that take place when innovators, including large business houses, enter the retail arena. The wheel of retailing is a hypothesis that describes how retailers approach to capture market share and create brand value. It explains how retailers usually begin at the bottom of the wheel with low pri Source:
Question: What is direct selling?

Answer: Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location. Peddling is the oldest form of direct selling. Modern direct selling includes sales made through the party plan, one- on- one demonstrations and other personal contact arrangements as well as internet sales. Direct selling is a dynamic, vibrant, rapidly expanding channel of distribution for the marketing of products and services directly to consumers. Source:
Question: State the theories of retailing.

Answer: Following are the important theories of retailing:-
1. Environmental Theory
2. Cyclical Theory
3. Conflict Theory Source:
Question: What are the advantages and disadvantages of hypermarket?

Answer: Advantages of hypermarket are as follows:
1. Customers can get everything at one place. Hence saving time, energy and money in searching.
2. Cost reduction from bulk buying in hypermarket are transferred to customers.
Disadvantages of hypermarket are as follows:
1. It causes major traffic problem.
2. Forces smaller shops out of business. Source:
Question: What are the services performed by retailers to consumers?

Answer: 1. They provide credit facilities to the consumers thereby helping them in times of difficulty.
2. They extend free home delivery and after sales service to the consumers.
3. They supply fresh products to the consumers.
4. They allow cash discount to the consumers on the products sold.
5. They buy and stock products best suited to the consumers.
6. They introduce new products to the consumers and also guide them as to their uses. Source:
Question: What are the advantages and disadvantages of super market?

Answer: Advantages of retail market are as follows:
1. Low overheads, particularly selling overheads.
2. Low prices and high profits because of quick turnover.
3. Situated at convenient places and within reach of buyers.
4. Avails economies of large scale operation.
5. The buyer is perfectly free as to what he should buy.
Disadvantages of super markets are as follows:
1. Huge capital required.
2. Need of central place.
3. Lack of personal attention.
4. Unsuitable for all pr Source:
Question: How does telemarketing work?

Answer: Telemarketing is usually done through specific campaigns. Contact is established with hundreds of prospects in a campaign that normally runs through a few days. Several tele- callers re hired for the tele- call operation. Source:
Question: What is retailing?

Answer: Retailing includes all the activities involved in selling goods or services to the final customers for personal, non- business use. Retailing is the sale of goods or commodities in small quantities directly to consumers. Retailing is the final stage in a channel of distribution. Retailing functions are performed by any firm selling merchandise or providing services to the final consumer. Source:
Question: State the advantages and disadvantages of independent stores.

Answer: Advantages of independent stores are as follows:
1. Decision making is centralized.
2. Low investment cost.
3. No need to drive long distance.
4. Free home delivery.
5. Credit facility,
Disadvantages of independent stores are as follows:
1. Less bargain power with suppliers.
2. Cannot gain economies of scale.
3. Very little computerization.
4. Relatively high cost of advertising.
5. Over dependence on owner. Source:
Question: Explain mail order.

Answer: Mail order is the buying of goods or services by mail delivery. The buyer places an order for the desired products with the merchant through some remote method such as telephone call or web site. Then, the products are delivered to the customer. The products are typically delivered directly to an address supplier by the customer. The goods are supplied on the system of P.O.D.(i.e., payment of delivery) or V.P.P.(i.e., value payable through the post). Source:
Question: What are independent stores?

Answer: These are generally family- owned businesses catering to small sections of society. They are small, individually run and handled retail outlets. These stores operate in the local locality. Therefore, they are in the near vicinity of a particular locality. These are also known as mom- and- pop stores. Source:
Question: Explain cyclical theory of retailing.

Answer: Cyclical theory basically explains the different phases in a company. According to this theory, change follows a pattern and all phases have identifiable attributes associated with them. There are three primary components associated with the theory: wheel of retailing, retail life cycle and retail accordion. Source:
Question: State the challenges faced by Indian organised retailers.

Answer: Following are the challenges faced by Indian organised retailers:
1. International Standards
2. Inefficient Supply Chain Management
3. Lack of Retail Space
4. Cultural Disparity
5. Escalating Real Estate Prices
6. Human Resource Problems
7. Frauds in Retail
8. Infrastructure and Logistics
9. Complexity in Tax Structure
10. Currency Fluctuation
11. Red- tapisim
12. Political Risk. Source:
Question: What is a franchise?

Answer: A franchise is a contractual agreement between the franchiser and franchisee which allows the franchise to conduct business under an established name as per a particular business format in return for a fee or compensation. Franchising can be a product or trademark where the franchise sells the products under franchiser name. Source:
Question: What are the advantages and disadvantages of departmental stores?

Answer: Advantages of departmental stores are as follows:
1. Shopping Convenience
2. Wide Choice
3. Economies of large scale
4. Liberal Services
5. Central Location
6. Economy and Advertising
7. Use of Specialized Services
Disadvantages of departmental stores are as below:
1. Distance
2. High cost of operation
3. Higher Prices
4. Difficult to Establish
5. Absence of personal contact
6. Lack of Co-ordination
Question: What are chain stores?

Answer: Chain stores are a group of stores handling similar lines of merchandise with single ownership and centralized location. A multiple shop system is a network of branch shops, situated at different localities in the city or in different parts of the country, under a centralized management and dealing in similar lines of goods. Examples for chain stores in India are Bata Shoe CO. and DCM. Source:
Question: What are the disadvantages of franchise stores?

Answer: 1. The prospective franchisee may find it difficult to assess the quality of the franchisor.
2. The franchise contract will contain some restrictions against the sale or transfer of the franchised business.
3. The franchisor's policies may affect the franchisee's profitability.
4. The franchisor may make mistakes in their policies.
5. The good name of the franchised business and its brand image may become less reputable for reasons beyond their control. Source:

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