Retail is the process of selling consumer goods or services to customers through multiple distribution channels for profit. The retailer meets the needs determined through the supply chain. The term “retailer” generally applies to the situation where the service provider executes many small individual orders from end users, rather than a few large orders from wholesale, corporate or government customers. Shopping usually refers to the act of buying products. Sometimes this is done to obtain the final commodity, including necessities such as food and clothes; sometimes, it is a form of entertainment. Entertainment shopping usually involves window shopping and browsing: it does not always lead to purchases.
Refer in-consumer-Digital disruption leadership summit 2020 by delliote here.
Post learning retail Quiz Answers
Which of the following are challenges to the disruptive technology growth?
Changing Customers Demand-Reducing New Business Models Massive Overcapacity All of the above
Correct Answer - All of the above
Which of the following is NOT one of the retail segments of Accenture?
Department Stores Machinery Quick Service Restaurants Apparel
Correct Answer - Machinery
Data Steward in one who enforces data governance policies and standards to ensure the quality, accuracy and security of the data.
Correct Answer - True
Which of the following is part of the four pillars of Responsible Retail?
Consumers Planet Infrastructure A and B
Correct Answer - A and B
Empowering the consumer by being agile and constantly innovating to meet the high standards and expectations of the consumers is one of the trends that will drive and enhance retail experience.
Correct Answer - True
Which of the following are steps to operationalize the future of Retail?
Become mind readers Become dare devils Find power in the DARQ All of the above
Correct Answer - All of the Above
The real challenge for retailers is that disruptive technology will make it possible for manufacturers to become retailers and/or consume a greater portion of the customer engagement.
Correct Answer - True
Which is not one of the nine technologies fundamentally disrupting Retail?
Correct Answer - Digital Twin/Digital Thread
What is the term used to denote the process of storing products in warehouse at designated position for later picking?
Flow Through
Put Away
GRN
Later Picking
Correct Answer - Put Away
To create the recipe for a great shopping experience, which of the following ingredients are important?
Digital payment options Loyalty Rewards Mobile App
In-store Dining Value Loyalty Rewards
Convenience Value
Inspiration
Digital Payment
Social Media presence
Coupons
Correct Answer - C - Convenience Value
Which of the following is strictly an example of the ‘Brick and Mortar’ Retail Channel?
Correct Answer - 7-Eleven
What is merchandising?
Deciding the lowest level of unique product Deciding which products should be grouped together based on their attributes Deciding on the right product mix to be offered for sale to customer by Store Deciding the logical way of displaying and stacking products
Correct Answer - Deciding on the right product mix to be offered for sale to customer by Store
What constitutes ‘Responsible Retail’?
Understanding Consumer Values Addressing environmental impact Embracing circular business models All of the above
Correct Answer - All of the above
Please do comment if you got any other question apart from these mentioned here we will provide you the answers asap.
