In today's very competitive retail environment retailers need to be proactive. They also need to be able to adapt to changing situations and be aware of the latest trends in retailing in order to remain competitive. This second edition focuses on the key elements and components involved in starting a retail business as well as the practical issues that surround retailing. These issues include: the store location; the store front, layout and interior design; Knowing who the customers are and how they buy; the right kinds of products to sell; selecting suppliers; managing stock and limiting shrinkage; setting the correct price; planning markdowns and price changes; developing a marketing communication plan; and, integrating all of the above into a comprehensive and practical plan. The book places the relevance and importance of these issues in perspective and in a practical way illustrates what retailers can do to improve the success of their businesses. Activities explain certain concepts and South African examples illustrate various principles from a local perspective. This title is aimed at students of commerce and entrepreneurs who want to start a retail business or who already have a business and want to make it more successful.