What Is Retail Planning

By one definition the term, retail space planning refers to product placement or departmental adjacencies. Another definition describes retail space planning as the study of the distribution of space allotted to particular categories in relationship to their productivity and their inventory balances.

What are the steps involved in retail planning process explain?

For the purpose of developing retail strategies, retailers are required to follow a step by step procedure or planning process. The planning process discusses/involves the present stage of business, the formulation, list of available strategic options, and the implementation of the selected strategies.

What is the third step in retail strategic planning process?

Identifying & Evaluating Opportunities Step 3 in the strategic retail planning process is identifying strategic opportunities. Namely, those that can help you increase sales.