The Retail Industry

Overview

Framework:
RQF
Level:
Level 1
Unit No:
H/618/3731
Credits:
3
Guided learning hours:
24 hours

For the full unit details, please download the latest version of the qualification specification. This is available for download on the relevant qualifications page.

Unit Learning Outcomes

To view the assessment criteria and any additional content, please expand the relevant learning outcome below.

1 — Understand how retail outlets differ in size and type.

Assessment Criteria

  • 1.1

    Identify the different retail channels and state the main features of each one.

  • 1.2

    Identify the sizes and types of retail outlets typically found in a variety of retail locations such as high streets or retail business parks.

2 — Understand the advantages and disadvantages to retailers of operating online.

Easy access to market, reduced overheads, potential for fast growth, widen your market, gain customer intelligence from website analysis tools.

Website costs, warehousing and transport costs, security and fraud, legal issues, advertising costs, customer trust.

Assessment Criteria

  • 2.1

    State the advantages and disadvantages to retailers of operating online.

3 — Understand the range of retail occupations.

Assessment Criteria

  • 3.1

    State how retail occupations differ between small, medium and large retail businesses and between physical and online retail businesses.

  • 3.2

    Identify the usual entry points and progression opportunities for a variety of retail occupations.

  • 3.3

    Outline the skills, personal attributes and behaviours required for a range of retail occupations.

4 — Understand the retail supply chain.

Assessment Criteria

  • 4.1

    Identify the sources from which retailers obtain products.

  • 4.2

    Outline the key stages of a product’s journey through the supply chain.

5 — Understand the contribution which the retail sector makes to the economy of the United Kingdom.

Assessment Criteria

  • 5.1

    Outline the size of the retail sector using information such as:

    • the number of people employed
    • the number of retail businesses
    • the amount of money spent by customers every year

6 — Understand how customers’ concerns influence the products and services offered by retailers.

Assessment Criteria

  • 6.1

    Outline environmental issues of concern to retail customers.

  • 6.2

    Outline ethical issues of concern to retail customers.

  • 6.3

    List the main advantages to retailers of being responsive to customers’ concerns.