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How to answer "Why Should we hire you? " - Interview Tips

 Why Should we hire you?  Why should we hire you is another one of the most important job interview questions asked in the interview and if you are not prepared for this question well in advance then it will be the toughest. So prepare the answer beforehand. To answer this question then you should have a good understanding of the key requirements of the job. To answer this question you should highlight what makes you a perfect candidate for this specific job opportunity. Describing the selling points relevant to the job such as job experience, industry experience, technical skill and company cultural fit will ensure your success in getting this job opportunity. If the job opportunity requires a change in industry or career, you should convince the interviewer that your experience and background will match the new role. This has to be done i f your experience does not match directly with the job. And if the job candidate has little or no experience then you should convince the ...
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Selection Criteria of Retail Store Location

Retail Store Location
Selection Factors

store selection criteria, store location


Retail store location plays a very important role in determining the success or failure of the business. The right selection of location is very important for customers to access the store and the store can do extremely well in terms of sales

Primarily, the location of retail space and site selection is the most important decision to be made by the retailer before going ahead with the business establishment.

Below are the factors affecting the establishment of retail business. To decide the location of a retail store the below factors should be taken care or they have to take into consideration:

Selection of the area

Selection of area is the most important factor in opening any Retail Store and the retailer should decide about the area which the retailer would like to serve. The area selected for setting the retail store should be easy to access and known to most people.

Before finalizing the area of operation, the retailer should examine the population of the selected area, also the population is permanent residents or shifting customers, we should also research the income level of the people. Other factors include the competition nearby, transportation in and around the area so that the people can reach the store with ease. All these factors will help in understanding the potential of the area where the retailer wants to set up the retail store.

Choice of the site

After selecting the area for setting up the retail store, the next step is the selection of a site to set up the retail store. The retailer can choose to open in the specific market where the competition is already present or he may plan to open in the residential area depending on the market analysis and potential.

The retail store location should be easy to access - customers to have clear and unrestricted access to the retail store. The store should be specifically located at the place where most of the customers are regularly visiting or they should be well aware of the place.

The scale of operation: Size of the Retail Store

After selecting the Location and Site of the store - the next step is to decide is the size of the retail store and the size of the business. The size of the operations will depend on the capacity of the retail organization to bear the risk and it also depends on the demand and potential of the area where the retail store is being set up.

The size of the store depends on the format to format and also it depends on the customer profile where the retail outlet is planned to open. If it's a high-income group area then generally a large format will be planned with high-end assortments based on the taste of the customers.

Capital to be Invested: CAPEX Capital Expense

This is one of the most important parameters in the setting up of the retail store. The retailer has to decide how much amount will be invested in the retail store and the sources of capital to be invested. The amount which is to be invested will depend on the size of the store and the format which is being set up.

If one is planning to open a supermarket then the investment amount will be comparatively less when compared to setting up a hypermarket business. Similarly, an electronic speciality retail store needs very high capital expenses as the cost of goods will be very high. So the capital invested will depend on the type of business that a retailer wants to set up. One has to have adequate finance to decide the success of the retail business.

The ambience of the Retail Store

The ambience is the look and feel of the retail store, this aspect is more of a physical appearance of the retail store. This is very necessary because the layout and the decoration of the store will help in getting the customers to the retail store. The retailer should make sure that the retail store is attractive and comfortable for the shopping. 

Visual Merchandising plays a very important role in making the store attractive and attracts more and more customers to the store. Visual Merchandising is arranging and attractively displaying the goods to pull the customers towards the store

Selection of goods: Merchandise Plan

The merchandise planning is done by the Category management team who will decide what merchandise needs to be planned for the retail store. The assortment will be planned on the type of business and the retail store's customer profile.

If the retail store is located in the high street then the category management team will plan for a good high range assortment. The merchandise which is to be kept in the retail store has to be decided on nature, status needs and wants of the customer. The merchandise should also be planned on the change in the income of the customer profile, habits, and fashion needs.

Source of supply: Distribution Center & Direct Delivery

Sources of supply mean whether the goods and merchandise will be supplied from a company Distribution Center(DC) or through Direct Store Delivery(DSD) through the vendor. The retailer also needs to decide on purchasing the goods from a wholesaler or a manufacturer and this should be selected very carefully. 

If the distribution centre owned by the company is very far from the store location then the supply should be planned well in advance to avoid any stockouts in the retail store. Supply of merchandise will also depend on the availability of goods with vendors or suppliers, the reputation of the brands, the price range of the merchandise, and the means of transportation - everything is to be considered.

Sales Policies & Procedures

The policy of trade and business is the most important factor in deciding and setting up of the retail store, because if every other parameter is fulfilled and satisfied and if we don't get permission to operate the business then everything will go in vain. So the retailer should make sure that he has adopted a suitable sales policy to set up the business and increase the sales and profitability.

The retailer has to make sure the sales policies and the prices of the products have to be decided by considering the competition and the customers.



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