Retail is an important sector for the UK economy that is in a state of transition. Drivers for change include evolutions in consumer behaviour, new methods of payment, smart label technology and multichannel shopping. This provides opportunities for novel concepts, ideas and business models to play a role in a successful future retail environment.
Students will learn about retail business models, platforms and supporting tools and technologies. This course will cover ecommerce, bricks & mortar retailing and introduce students to simple examples of both supply chain management and advertising models. The importance of multi-sided market economics will be emphasised.
Practical coursework assignments will begin with building a simple webshop before looking at paid advertising and pricing models. This course will take a hands on approach that encourages student groups to build and run real online and/or offline shops, buying and selling real stock and designing promotion strategies and serving real customers.
There will also be an opportunity to learn from guest lectures from leading retail practitioners and retail investment specialists, including True Start https://www.truestart.co.uk/.
- Understand online and offline retail models
- Be able to build your first webshop
- Evaluate pricing models and approaches to paid advertising
- Segment customers based on browsing and purchase behaviour
- Assess performance of loyalty schemes and returns policies
- Recent history of retail
- Changing consumer behaviour
- Online and offline business models
- Multi-sided market economics
- Webshop tools and technologies
- Introduction to commercial leasing structures
- Supply chain, outsourcing, imports and OEMs
- Pre-sales and crowdsourcing models
- Payments technologies
This module is assessed through a field research report of 5,000 words.