BS2504 - Week 3 - Recap

What is one of the primary roles of corporate offices in retail?

• Managing day-to-day store operations

• Centralising decision-making and strategy development

• Designing store layouts

• Handling customer service inquiries

Which of the following is NOT a key component of strategic planning in retail?

• Market analysis

• Inventory management

• Setting clear KPIs (Key Performance Indicators)

• Randomised product launches

How does AI-driven demand forecasting differ from traditional forecasting methods?

• AI-driven forecasting relies solely on historical data

• Traditional methods analyse real-time market conditions

• AI-driven forecasting uses machine learning algorithms to predict trends more accurately

• Traditional methods do not require any data

What is a key strategy Zara used to successfully expand internationally?

• Investing heavily in television advertising

• Maintaining slow stock rotation times

• Localising product offerings and marketing to suit each region

• Opening stores only in suburban area

Why is globalisation important for retail businesses?

• It reduces the need for supply chain management

• It allows retailers to expand into new markets and reach a broader audience

• It simplifies regulatory compliance

• It limits the need for strategic planning