Retail
Retail
Retail
Retail stores redirects here. For the comic strip by optimize customer satisfaction. Service quality and marNorm Feuti, see Retail (comic strip).
keting mix strategy have signicant and positive association on customer loyalty.[2] The marketing strategy eecRetail involves the process of selling consumer goods or tively outlines all key aspects of rms targeted audience;
demographic and preference. Throughout a highly comservices to customers through multiple channels of distribution to earn a prot. Demand is identied and then petitive market, the retail strategy sets up long-term sustainability. It focuses on customer relationships, stressing
satised through a supply chain. Attempts are made to
increase demand through advertising. In the 2000s, an in- the importance of added value and customer satisfaction.
creasing amount of retailing began occurring online using The retail mix is designed to complement the retail stratelectronic payment and delivery via a courier or via postal egy through theoretical tools such as the product, its qualmail. Retailing as a sector includes subordinated services, ity and value, the promotions, place, and price.
such as delivery. The term retailer is also applied where
a service provider services the small orders of a large
number of individuals, rather than large orders of a small
number of wholesale, corporate or government clientele.
Shops may be on residential streets, streets with few or
no houses, or in a shopping mall. Shopping streets may
restrict trac to pedestrians only. Sometimes a shopping
street has a partial or full roof to create a more comfortable shopping environment - protecting customers from
various types of weather conditions such as extreme temperatures, winds or precipitation. Forms of non-shop retailing include online retailing (a type of electronic commerce used for business-to-consumer (B2C) transactions) and mail order.
Etymology
Retail strategy
The retailing strategy is a marketing plan abstractly designed to oer its products and services in a way that will
1
high street stores are being re-grouped in condensed geographical areas along specic streets or districts such as
the Magnicent Mile in Chicago, Illinois or at single locations called malls. These are more dened and planned
spaces for retail stores and brands.
A marketplace is a location where goods and services are These are the following types of retailers by marketing
exchanged. The traditional market square is a city square strategy:
where traders set up stalls and buyers browse the stores.
This kind of market is very old, and countless such mar- Department store
kets are still in operation around the whole world.
In some parts of the world, the retail business is still dominated by small family-run stores, but this market is increasingly being taken over by large retail chains. Most
of these stores are called high street stores. Gradually
3.2
3
A specialty (BE: speciality) store has a narrow marketing
focus either specializing on specic merchandise, such
as toys, shoes, or clothing, or on a target audience, such
as children, tourists, or plus-size women.[10] Size of store
varies some specialty stores might be retail giants such
as Toys R Us, Foot Locker, and The Body Shop, while
others might be small, individual shops such as Nutters
of Savile Row.[10] Such stores, regardless of size, tend to
have a greater depth of the specialist stock than general
stores, and generally oer specialist product knowledge
valued by the consumer. Pricing is usually not the priority when consumers are deciding upon a specialty store;
factors such as branding image, selection choice, and purchasing assistance are seen as important.[10] They dier
from department stores and supermarkets which carry a
wide range of merchandise.[11]
Convenience store
Specialty store
Mall
5 OPERATIONS
A shopping mall has a range of retail shops at a single outlet. They can include products, food and entertainment
under one roof. Malls provide 7% of retail revenue in India, 10% in Vietnam, 25% in China, 28% in Indonesia,
39% in the Philippines, and 45% in Thailand.[12]
3.3
Other types
5.3 Stang
5.4
Transfer mechanisms
6 Second-hand retail
There are several ways in which consumers can receive See also: Charity shop
goods from a retailer:
Counter service, where goods are out of reach of
buyers and must be obtained from the seller. This
type of retail is common for small expensive items
(e.g. jewelry) and controlled items like medicine
and liquor. It was common before the 1900s in the
United States and is more common in certain countries like India.
Sales techniques
Every retail store operates under the goal of overcoming the other competition in the market to create brand
dominance and/or large prot. This is done by dierent sales techniques created and/or adopted by retailers.
Techniques include hiring sta which are deemed attractive by the target demographic (Physical appearance,
smell, sound and behavior all attribute to a persons attractiveness). other techniques include store location, somewhere easily visible with lots of trac (Trac can be
but not limited to pedestrians or vehicles). Also stores
create custom interior design to suit the stores personality and the target market. Some of the largest retailers
spend millions on a stores marketing technique to invite
customers in to spend their time and money. . As consumers have grown from the days of wandering in and
buying goods or services just for the face value to being
informed on products and how they are made companies
focus on the values of society such as being sustainable
or being fair trade approved. Conscious consumers are
attracted by the stores morals of being righteous and thus
creating a strong brand image that stands our from the
competition. Adding value to goods or services such as a
free gift or buy 1 get 1 free adds value to customers where
as the store is gaining sales[20]
Customer service
7
the latest PMR report entitled Grocery retail in Central have been announced.[28] The largest transactions with
Europe 2012[26]
involvement of retailers in/from the United States have
been: the acquisition of Albertsons Inc. for 17 bil. USD
in 2006,[29] the merger between Federated Department
10.3 World
Stores Inc with May Department Stores valued at 16.5 bil.
USD in 2005[30] - now Macys, and the merger between
Kmart Holding Corp and Sears Roebuck & Co with a
value of 10.9 bil. USD in 2004.[31]
12 See also
Final goods
List of department stores by country
Point of sales
Retail concentration
Retail design
Retail software
Shopping mall
Specialist store
Stand-alone store
Store manager
Visual merchandising
Wardrobing
The two largest supermarkets chains in Switzerland, Migros and
Coop, are cooperatives.
11
Consolidation
Among retailers and retails chains a lot of consolidation has appeared over the last couple of decades. Between 1988 and 2010, worldwide 40,788 mergers & acquisitions with a total known value of 2.255 trillion USD
13
Newsagent
Online shopping
Outlet store
Pet store
Pop-up retail
Specialty store
State store
Store-within-a-store
Supermarket
Surplus store
Survival store
Toy store
Variety store
Warehouse club
Warehouse store
13
References
REFERENCES
14
Further reading
15
External links
10
16
16
16.1
Retail Source: https://en.wikipedia.org/wiki/Retail?oldid=726082859 Contributors: The Anome, Christian List, Roadrunner, DavidLevinson, AntonioMartin, Frecklefoot, Patrick, Michael Hardy, Fred Bauder, Zanimum, Cameron Dewe, TakuyaMurata, Tiles, Tregoweth,
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16.2
Images
16.3
Content license
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16.3
Content license