P1 Describe the structure and organisation of the retail sector
M1 Compare the function of formats and locations in retailing 1. Retailing Defined
“The sale of goods to ultimate consumers, usually in small quantities”
Source: www.dictionary.reference.com
“The activities involved in the selling of goods to ultimate consumers for personal or household consumption”
Source: www.merriam-webster.com
Retailing is the selling of goods directly to the consumers; this can be achieved in many locations or formats. It is the last stage of the supply chain. 2. Types of stores
There are many types of stores within the UK, including physical stores, online, department stores, resale stores and many more. However, the most popular being physical
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However customers can also go into the shop to order the products and purchase them then.
Having both clicks and bricks allows customers more chance at seeing any special offers.
Companies which use both techniques also open up to a larger variety of target markets; Individuals who may struggle to get to stores or those who may not have internet.
However, there are extra expenses associated with online and stores, this leads to prices which are not always competitive.
3. Emerging store types
Within the UK and many other countries their have been an increase in emerging types of stores.
Shopping villages are becoming increasingly popular. They are large areas which are aimed for customers to be able to go their and spend the whole day there. They usually contain everything individuals may need to keep themselves entertained. Some examples of what shopping villages may contain are many shops, cinemas, restaurants, hairdressers, play areas and some contain worship areas. Within the UK many have been put in place, including Westfield, Bluewater and Lakeside.
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Monday: | 10:00 am | - | 10:00 pm | Tuesday: | 10:00 am | - | 10:00 pm | Wednesday: | 10:00 am | - | 10:00 pm | Thursday: | 10:00 am | - | 10:00 pm | Friday: | 10:00 am | - | 10:00 pm | Saturday: | 9:00 am
Retail: The sale of goods to the public in relatively small quantities for use or consumption rather than for resale.
Since buying items in a retail location is quite often more extravagant than buying the same things from the Internet, there must be a more prominent understanding of why that is and how this can advantage you.
This also opens up access to people who may not be able to visit the stores due to poor mobility.
Immediate transaction - Another advantage with store businesses is that they can offer automatic sales as soon as the customer is ready, with staff always working that allow you to purchase literally as soon as possible. The items purchased are also in new condition as they are efficiently ‘straight off the shelves’ and
“Retail is the business of selling goods made by others to individual consumers. It is a huge industry, dominated by Wal-Mart, which touches every corner of the globe. Due to the decline in the global economy, the future of many retailers is uncertain as consumers begin to spend less. The retail industry is the last step in the process of getting products to customers efficiently, and should not be confused with the wholesale activities which precede it. The difference between the two is that wholesalers are companies that sell their products to businesses, whereas in retail, the goods are sold
One of the opportunities we have in today’s world is whether to buy online or go to a brick and mortar store to do our purchasing. The two offer great sales and promotions along with selections from which we can choose. As online shopping and brick and mortar may seem similar; however, both differ in pricing, convenience and selection.
This way of buying through retailers gets to cut down overall cost factors that are simplistic as easy discounted arrangements enacting like lethal target hitters you can with certainty acquire when you see options of buying which are efficiently determined through discounts online to get relevant cuttings come into action and there can be wanted cut priced trading you always revert to when shopping with Missguided.
Topshop customers can shop as usual on the website. However, they have an option to collect the items from the nearest store. Customers can avail this facility during the checkout. The process has three steps.
The expansion of Nordstrom into the United Kingdom with five showroom like brick-and-mortar locations and one fulfillment center, will generate an omnichannel approach for Nordstrom. This expansion will enhance the consumer experience for present online consumers, and promote brand recognition throughout the United Kingdom. Through delivering this omnichannel approach, it is projected that online sales will grow 20% throughout the United Kingdom, and of consumers shopping in new storefronts, their final purchase decision will by 25% higher than if they were purchasing online. Overall, affording consumers flexibility, as Nordstrom’s mission is to remain consumer focused to develop loyalty, by providing in store returns, faster shipping, and personalized customer service. Thus, translating to greater realized revenues for Nordstrom.
This is when business like John Lewis gives customer option to buy item from their physical store and
Retailing is the sale of goods and services to a consumer. The retailer is the last link in the distribution chain. A retailer 's purchases are usually made from a wholesaler, who in turn buys from a manufacturer (Retail, 2014). According to the U.S retail industry, two-thirds of the total US GDP comes from retail consumption. The latest annual report of the U.S department of Commerce for 2013 says that total retail sales in 2011 was $4.7 trillion an increase of 8% from 2010 numbers. Retailers have turned from being an intermediary between the manufactures and consumers to a visible power who can influence both producing and consuming decisions. Be it the vast expanses of the countryside or the crowded streets of cities, a Walmart, Target, or Staples are a common sight.
Retail is the selling of services or goods to consumers to gain a profit. The retail industry is one of the most important and profitable industries in the world economy today. Total annual U.S. retail sales have increased an average of 4.5% between 1993 and 2015, according to the U.S. Census Bureau. The simple idea of creating retail shops, discount stores, and super shops has altered the world of shoppers and consumers worldwide. An estimated two-thirds of the U.S. gross domestic product (GDP) comes from retail consumption (2015 US Retail Industry Overview - Info, Facts, Research, Data, Trivia," 2015).The retail industry is generally divided into several types of retail stores such as, department stores, supermarkets, convenience stores, online stores and malls.
Retail consists of the sale of goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser.[1] Retailing may include subordinated services, such
In the Recent years, the trend of E-commerce has grown faster due to the advancement and the easy access of internet. This have conducted customers to shop online from home comfortably and ending up entering worldwide shops with a click of button. People who does live in a small town they do have limited choices of stores so it is a benefit for them to use online shopping for a wider range of stores and/or products and certainly if the shop is not available in their region/and or country. Some consumers like to buy directly from the store instead of online shopping this is something