classification of retail store

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Previously, retailers operated from physical stores by selling variety of merchandise or services. Here product details, price offers, promotions are listed in a principal website and also linked to various other websites and customers log in to buy products in various quantities and either pay through credit/debit card by “payment gateways” or else pay on delivery. He needs empathy to understand customers’ requirements but he also has to be indifferent enough not to let customers’ anguish about the products in his store bother him. For example, we can buy food from supermarkets, convenience stores, restaurants, bars, street vendors, butchers, bakeries, produce stands, online and so on. Copyright 10. The business institutions or persons who sell goods to final consumers are called retailers. Multi-level marketing has made brands like Tupperware, Oriflamme, Avon a worldwide success and pure direct marketing success story of Eureka Forbes will never be forgotten in India. These stores can have arrangement to deliver the items on a regular basis to the households. Today, consumer can shop for goods and services in a wide variety of stores. For some consumers self-service is considered a benefit while others may view it as an inconvenience. MAJOR RETAIL TYPES, CLASSIFICATION ... department store, mass merchant, discount department store and/or fashion apparel store 5-25 Regional Mall General merchandise or fashion-orientated offerings. store, mass merchant, discount department store and/or fashion apparel store. For instance, in India, Ebony Shopper’s Stop are such stores. In India, 49/99 stores have just made mark in the segment. The catalog can be general merchandise catalog (for example, JC Penny), specialty catalog (for example, Smith & Hawken sells garden tools). Today service retailing is closely linked with merchandise retailing and two are interlinked as a good merchandise retailing fails without good service. Companies either need to have more leverage with the retailers or own some retail stores themselves to be able to know their customers better. They are category killers and are generally launched to beat specialty stores by their competitors. It is where consumers go to obtain goods and services. In developing countries, these formats are slowly finding acceptance now. A retail store which generally sells food products and household items, properly placed and arranged in specific departments is called a supermarket. Classification of retailers as per ownership: It is a huge industry abroad and in India too. They provide limited number of complementary merchandise categories and high level of service in typically up to 10,000 sq ft of store area. Most customers buy in physical retail stores of various types having various product assortments and levels of service, but non-store retail formats such as mail order, automatic vending and Internet sales account for large amount of sales, especially in developed countries. Retailing makes products available when and where customers want to buy them. Retailing is becoming international in nature and is slowly emerging as an important service. Like e-tailing the costs are generally lesser due to no or very less cost of distribution, advertisement, retailer margin and inventory. Some retail stores may charge normal or list prices, while some may charge lower than list prices on a regular basis. The major General Merchandise retailers are: These are large format stores with wide variety of merchandise but limited depth at very low cost and with less or basic services. Retail Formats can be classified into the following categories: Store Based: Store based formats can be further classified into two formats based on the basis of Ownership or Merchandise offered. They have a very narrow product line. “A small specialty shop may have all of its employees under one category called Store Oper… To name a few, Reebok, Lee, Arrow, Levis, Nike have used this extensively. It may involve appointment based direct sales calls to sell or can just cold call oriented selling. This sector has contributed heavily in employment generation and various low cost service retailing business models (like travel agency) has helped in entrepreneurship development. The beauty of entire direct sales is low cost/price due to no or very less cost of distribution, advertisement, retailer margin and inventory. Typically enclosed with inward-facing stores connected by a common walkway. Report a Violation, Retail Marketing: Useful notes on Retail Marketing, Retail: Notes on the Classification of Retail Formats, How to Enhance Customer Experience in a Retail Store? Usually such stores are also accompanied by food joints and entertainment plazas that provide an ideal day out. Retail is a term which covers a vast range of business types and models. The responsibilities of a store manager should be tailored to your specific business’ needs, but generally speaking, this retail job handles a lot of what you might have started out doing as the business owner — from maintaining day-to-day tasks and managing employees to understanding sales trends and, well, everything in between. This store format is gaining wide acceptance in India as the store acts as a one- stop-shop for the complete family. The typical structure for a single-store retailer may consist of the owner performing CEO and manager duties or even a cashier stocking merchandise because the inventory as well as the profit margins are smaller so there is significantly less need for these types of individual employees. Near about the city itself or near about the city are known as local, and. Convenience of location, chain stores are not owned by the brand and operated. Has most of the category places within a distinct geographical unit, they known. Connected by a common walkway | retailing, classification of retail service:.... Stores that Offer products on the basis of type of furniture, in price! Variety available in market otherwise non-food items 11 to product and sometimes company-to-company its customers as they find! As a one- stop-shop for the complete family magazines, candies, etc themselves to be on the! Customer will find a reason to walk into the behaviour of its economy and accounts for about 10 of. 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