Retailing and the Economy (SF - Manager)
About This Course
Upon completion of this course, participants will have a thorough understanding of the retail landscape and the external economic and political events affecting the industry. The course covers key considerations in retailing, including target markets, marketing strategies, distribution methods, and service levels. Participants will explore market structures, the impact of demand and supply, and relevant economic indicators. Key concepts such as scarcity, opportunity costs, and elasticity will be applied to retail.
The course also examines the significance of retailing in Singapore, key sector challenges, and government strategies to enhance productivity, along with the technological and legal requirements influencing retail operations.
What You'll Learn
- Key considerations in retailing
- Target markets in retailing
- Marketing strategies used in retailing
- Distribution methods in retailing
- Service levels offered in retailing- Ownership structures for retailers
- Retail formats
- Effects of demand and supply on the price and production quantity
- Different types of market structures
- Effects of socio-economic changes
- Economic indicators of a country
- Application of the following concepts in the context of retailing: scarcity, opportunity costs, demand and supply, elasticity, utility concept
- Factors affecting the global retail environment and the way retailers do business
- Importance of retailing to Singapore
- Key issues affecting the retail sector in Singapore
- Strategies used by the Singapore government and other agencies to boost the local retail sector’s productivity performance and how they impact the economy
- Technology and legal requirements related to retail
Entry Requirements
-GCE 'O' level Credit (at least C6) in English and Mathematics or Workplace Literacy and Numeracy (WPLN) score: Level 6 for Reading, Listening and Numeracy; and
-With at least 3 years supervisory/managerial working experience in retail or Professional/Managerial/Management Executive (PME) position in non-retail sector