For part 2 my explanation will be a bit general that explained of type of retailer..
Types of retailers are retailers use different retail mixes such as merchandise service, store design, visual merchandising, location, pricing, infinite variations and some combination of retail mixes satisfy the needs of significant segments and persist over time.
Next, retailer characteristics are variety, assortment, services offered and prices and the cost of offering breadth and depth of merchandise and services.
The trends in supermarket retailing are divided by two. Firstly is competition from discount store which is efficient distribution, lower costs and lower prices while changing consumption patterns are time pressure, eating out more and meal solution.
There are three tiers of department a store which is the first tier is for upscale, high fashion chains with exclusive designer merchandise and excellent customer service. For example, retail store at Nordstorm. For the second tiers retailers sell more modesty, priced merchandise with less customer service such as Macy’s. Lastly, the third tier is value oriented caters to more price conscious customer such as JCPenney.
Some of the retail ownership is franchising. There was 30 – 40% of US retail sales do franchising. Franchisee pays fixed fee plus % of sales and Franchisee implement program.
The conclusion for this chapter is you had learned all type of retailer we have in real market to give us the overview of retailers and help us to discover what type of retailers we are in.
which retailers that you know??
Finish of chapter 2, I will meet you guys on next chapter!!!
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