Discount Stores: A Valuable Addition to Our Retail IndustryMadiha Syedain
Discount Stores: A Valuable Addition
Discount store can be defined as a departmental store which aims to offer products at a lower price as compare to other retail stores. The most amazing feature of having a discount store in your neighborhood is that they are able to drop prices due to efficient distribution methods. Many of the largest discount stores in the world have chains which include Wal-Mart and K-Mart etc. In other words we might call them as ‘big-box store’ as they include variety of products which often consists of large grocery section.
Like many other countries, in Pakistan also, the discount stores provide a wide range of products to the end-users but at a discounted rate. Usually, their quality of products are not up to mark as compared to that of departmental stores and are available in limited stock. Some prominent discount stores are Chase Up, MCC, Al Madina Discount Store, Pioneer and others.
The discount stores in Pakistan offer exciting discounts on every purchase which is an easiest way to attract customers. Anytime you tell them that he or she can save money, you are likely to get his/her attention. Discounts always bring smile on customer’s face which can also do wonders for your business. The discount stores offer increased sales to enhance reputation, discounts on various item is one ingredient that can bring success to the venture.
Discount Stores: A Valuable Addition
Since Pakistani love to buy things on sale, discounts serve as strategy’ to invite more people to your store. If it is going to last for some weeks, the retailers should mention it, so that when they advertise the discounted items, the customers are more likely to rush and look around. Once your store experience more traffic you can hire more employees to carry on the smooth flow of the services. This will also give retailer an opportunity to have more potential buyers for other items in your store as most people will check in to see what you offer before making a final decision. For instance, if your store is showing discount on entire lawn selection, people will visit your store for the discount and may buy other items or accessories like jackets, bags and clutches.
The discount items enable retailers to free up space in your store. Through discounting them, you increase the chances of selling and make room for new products. The discount stores in Pakistan offer interesting discounts to specific group of people –such as middle class families, old or military officers which can enhance their reputation. The market is predicted to expand 8.2 percent per annum through 2016-2021 as disposable income has doubled since 2010, according to research group Euromonitor International. The size of the middle class is estimated to surpass that of the UK and Italy in the forecast period, it said.
These stores have weekly, monthly, quarterly or annual sales goals which can be achieved by giving discounts which can help business meet and surpass planned sales figures. Most discount stores in Pakistan save money by paying through cash, although cash and debit card facility is available.
The responsibilities of Retail salesperson/manager of discount store are as follow:
- To meet customers and find out about their needs
- Perform monetary tasks
- Maintain knowledge of current sales and promotions, computer sales prices
- Maintain records of sales
- Look out for security risks and thefts
- Sort out merchandise issues
- Respond to customer queries
- Prepare sales slips and others
Unfortunately the retail sector of Pakistan is highly unorganized and have inherent limitation such as lack of economics due to small scale operations, lower level functioning expertise and lack of financial strength which do not allow discount stores to display its products. There is a dire need to focus on the format of retailing in Pakistan. The skilled staff is not qualified and experienced to manage the affairs of the store. The need of an hour is that a retail body set by the government should conduct specific trainings and help clear supply chain issues for the betterment of our economy.
References: The News