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Contents
[hide]
• 1 Etymology
• 2 Types of retail outlets
• 3 Retail pricing
• 4 Transfer mechanism
• 5 Second hand retail
• 6 Sales techniques
• 7 Customer service
• 8 Retail Sales
• 9 Consolidation
• 10 Bibliography
• 11 See also
• 12 Notes
• 13 External links
[edit] Etymology
The world's only Garmin retail location is located on the Magnificent Mile in Chicago.
Retail comes from the Old French word retaillier (compare modern French retailler), which
means "to cut off, clip, pare, divide" in terms of tailoring (1365[citation needed]). It was first
recorded as a noun with the meaning of a "sale in small quantities" in 1433[citation needed] (from
the Middle French retail, "piece cut off, shred, scrap, paring").[2] Like the French, the word
retail in both Dutch and German (detailhandel and Einzelhandel, respectively) also refers to
the sale of small quantities of items.
[edit] Types of retail outlets
San Juan de Dios Market in Guadalajara, Jalisco
Some stores take a no frills approach, while others are "mid-range" or "high end", depending
on what income level they target.
Other types of retail store include:
• Automated Retail stores are self service, robotic kiosks located in airports, malls and
grocery stores. The stores accept credit cards and are usually open 24/7. Examples
include ZoomShops and Redbox.
• Big-box stores encompass larger department, discount, general merchandise, and
warehouse stores.
• Convenience store - a small store often with extended hours, stocking everyday or
roadside items;
• General store - a store which sells most goods needed, typically in a rural area;
Retailers can opt for a format as each provides different retail mix to its customers based on
their customer demographics, lifestyle and purchase behaviour. A good format will lend a
hand to display products well and entice the target customers to spawn sales.
[edit] Retail pricing
The pricing technique used by most retailers is cost-plus pricing. This involves adding a
markup amount (or percentage) to the retailer's cost. Another common technique is suggested
retail pricing. This simply involves charging the amount suggested by the manufacturer and
usually printed on the product by the manufacturer.
In Western countries, retail prices are often called psychological prices or odd prices. Often
prices are fixed and displayed on signs or labels. Alternatively, when prices are not clearly
displayed, there can be price discrimination, where the sale price is dependent upon who the
customer is. For example, a customer may have to pay more if the seller determines that he or
she is willing and/or able to. Another example would be the practice of discounting for
youths, students, or senior citizens..
[edit] Transfer mechanism
There are several ways in which consumers can receive 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.[which?]
• Delivery, where goods are shipped directly to consumer's homes or workplaces. Mail
order from a printed catalog was invented in 1744 and was common in the late 19th
and early 20th centuries. Ordering by telephone is now common, either from a
catalog, newspaper, television advertisement or a local restaurant menu, for
immediate service (especially for pizza delivery). Direct marketing, including
telemarketing and television shopping channels, are also used to generate telephone
orders. Online shopping started gaining significant market share in developed
countries in the 2000s.
• Door-to-door sales, where the salesperson sometimes travels with the goods for sale.
• Self-service, where goods may be handled and examined prior to purchase
[edit] Second hand retail
See also: Charity shop
Some shops sell second-hand goods. In the case of a nonprofit shop, the public donates goods
to the shop to be sold. In give-away shops goods can be taken for free.
Another form is the pawnshop, in which goods are sold that were used as collateral for loans.
There are also "consignment" shops, which are where a person can place an item in a store
and if it sells, the person gives the shop owner a percentage of the sale price. The advantage
of selling an item this way is that the established shop gives the item exposure to more
potential buyers.
[edit] Sales techniques
Behind the scenes at retail, there is another factor at work. Corporations and independent
store owners alike are always trying to get the edge on their competitors. One way to do this
is to hire a merchandising solutions company to design custom store displays that will attract
more customers in a certain demographic. The nation's largest retailers spend millions every
year on in-store marketing programs that correspond to seasonal and promotional changes.
As products change, so will a retail landscape. Retailers can also use facing techniques to
create the look of a perfectly stocked store, even when it is not.
A destination store is one
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