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32 Cards in this Set
- Front
- Back
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A retail outlet is more than a place to buy something. The retailer adds or subtracts value from the offering with its image, inventory, service qulity, loaction, pricing, and assortment of goods.
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a
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Who was the #2 retailer in the US in 2006?
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Home Dept
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One in five US workers are in retailing. There are over 1.2 million retail firms, but only 8% have annual sales more than $2.5 million. Most retail business in the US is small business.
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a
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How much were retail sales up in 2006?
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5.4%
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The US retail and food services sales for March 2008 were ...
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381.4 billion
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A hypothesis that new retailers usually enter the market as low-status, low-margin, low-price operators but eventually evolve into high-cost, high-price merchants.
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Wheel of Retailing
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Know the Retail Life Cycle
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1)Intro Stage
2)Growth Stage 3)Maturity Stage 4)Decline Stage |
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Sales and profits rise, but this also attracts more competition.
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Growth Stage
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Three factors motivate innovative merchants to reinvent the way they do business:
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Demographics
Technology Globalization |
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Demographics are changing retailing practices in each of the following ways:
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1. Demanding greater convenience
2. There is increasing catering to specific age segments. 3. There is a growing recognition of ethnic diversity. |
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Technology is also revolutionizing retailing. We all see how the Internet has affected eRetailing. Another way is POS systems.
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1. Point-of-Sale System: Retail computer system that collect sales data and are hooked directly into the store's inventory control system.
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Globalization:
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The world is becoming a smaller place. Globalization is a two-way street. Innovative retailing concepts developed oversears are influencing US retailing. However, retailing practices must often be modified depanding on the country where the retailing pracitce occurs.
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Note that ______ is the number 2 GLOBAL retailer.
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Carrefour
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What is the top retail format?
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Supermarket
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The total set of all products offered for sale by a retailer, including all product lines sold to all consumer groups.
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Merchandise Mix
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A merchandising strategy that offers consumers a mixture of merchandise items that are not directly related to one another.
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Scrambled Merchandising
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Retailors use scrambled merchandising for one or more of the following reasons...
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A. convert stores into one-stop shopping centers
B. generate more traffic C. realize higher profit margins D. increase impluse purchases |
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These retailors provide supporting services and trained sales assistants (eg Bloomingdale's and Victoria Secret)
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Full-Service Retailors
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In-between (eg. Walmart, Target, Old Navy, and Kohl's)
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Limited-Service Retailors
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the range of products sold.
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Merchandise Assortment
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the number of different product lines available.
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Merchandise Breadth
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the variety of choices available for each specific product line.
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Merchandise Depth
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Retailors that carry only a few product lines but offer good selection within the lines that they sell.
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Specialty Stores
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Convenience stores industry sales top....
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$569 billion
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cigarettes account for what %
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34.4%
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Retailers that offer a broad assortment of items at low prices with minimal serive (eg. Target, Kmart, Wal-Mart)
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General Merchandise Discount Stores
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Retailors that sell a broad range of items and offer a good selection within each product line.
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Department stores
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Clothing and home furnishings
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Soft Goods
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3rd quarter US eRetail sales were....
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$34.7 billion
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______ is not a benefit of eCommerce
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"consumer privacy protection"
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the use if color, lighting, scents, furnishings, and other design elements to create a desired store image.
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Atmospherics
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look at figure 16.4
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a
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