Often these consumers believe there is a need in the marketplace traditional retailers are not serving. Retailers can be classified based on different criteria such as: We will discuss few important categories: This is the simplest basis for classification of the retailers. Product-line handled – That is according to the goods dealt with. Convenience stores (also called c-stores) carry a very limited assortment of products and are housed in small facilities. In product franchising, the franchisee agrees to sell the franchisor’s products and services. He also assumes complete responsibility for any of its liabilities or debts. In the end, you and your investors will share the profits you have earned through the development of this cooperative. (v) Convenience – Goods are delivered at the doorstep of the customers. They have some minor defects in them and these defects are not visible. Major forms of non-store retailing are mail order selling, automatic vending and personal selling on a door-to-door basis. (a) Taxable Income – The taxable income of a venture is determined in the same manner as in a company. For example stores selling shoes will have all varieties and sizes of footwear meant for kids, gents and ladies. Share Your Word File In 2002, there were about 33,000 supermarkets in the United States, accounting for approximately $411.8 billion in sales. Shoppers’ Stop has many sections such as jewelry, cosmetics and perfumes, garments, in ladies garments — Indian wear and Western wear, etc. The types of retailers can be classified on the basis of:-. They have more operating costs than the self-service and self- selection retail stores. 2. Many of these changes will affect the types and classifications of existing retail institutions. There can be one or more number of such outlets. (iv) Transfer of Goods and Spreading of Risk – Products, which are not in demand in a particular shop, can be shifted to another shop. Because shoppers have been demanding more convenience in their shopping experiences, a new type of food retailer has been emerging. Priority Mail Express Overnight to 2-Day Guarantee 1. Consumers like these stores because they know exactly how much each product costs. (d) Goods are durable and do not get spoiled in transit. Nalli, a renowned Chennai based silk emporium has opened the outlets in Mumbai. Due to this, customers are satisfied and they carry favourable image about the store as they get the personal attention and right product. (c) Products do not require any demonstrations. Plus, the Geek Squad makes house calls and has an online customer service operation. Each product has a price tag. All the retailers of different sizes, categories but performing their operations in the physical store are the Store Retailers. (b) They sell low value goods of daily use like toys, fruits, vegetables, etc. In a B2B business model, a business sells its product or service to another business. It is designed to provide the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership. Phone Customer Service … These institutions are generally based on some type of classification system that mirrors the retailer’s business operations. For example, Chitale Bandhu Mithaiwale — the renowned sweets store in Pune operates through two exclusive outlets owned by the manufacturer. One of the biggest trends over the past twenty years in food retailing has been the development of superstores. The main strategy employed by the discounter is to develop an image of high-volume, low-cost products. Combination stores can be as large as 100,000 or more square feet. (ii) These can sell the goods round the clock. (iii) Attractive Services – Services like reading room, free home delivery, restaurant, library, saloons etc. Many people have wrong impression about the discount stores that the quality of products sold is inferior hence the price is less. They too work on a low margin compared to other retailers. (b) ATM (Automated Teller Machine) can be used to withdraw money at any time without visiting any branch of a bank. In practice, many retailers use mixed price techniques. These shops are situated at market places. These outlets are owned and managed by the manufacturer. (a) Stores dealing in children’s garments only. To overcome many of the disadvantages associated with being a smaller, independent retailer, some retailers band together to create a retail-sponsored cooperative, an organization that allows centralised buying and overcomes other problems involved in running a small retail operation. B. They are not in the shopping complex and not a part of the cluster. They have fewer resources for hiring and training, qualified experts in each of the functional retail areas — IMC, buying, management, and accounting. For example, banks, consultants, doctors, tailoring shops, beauty parlours, crèche, garages, maintenance services, transport, etc. This means customers are willing to drive longer distances to visit super centers than to visit any other type of food retail centre. (vi) Automatic Vending Machines – There is no human interface in selling the products. Generally they are no smaller than 20,000 square feet. They are so named because they specialise in one type of product, such as apparel and complementary merchandise. (b) Taxation of a Foreign Venturer – A foreign venturer is taxed in the same manner as an Indian venturer, subject to the higher tax rate in the case of a non-resident corporate venturer. Through centralised buying, member retailers can take advantage of the price savings that accompany large purchases from vendors. (ii) High Operating Cost – Due to expenses on advertising, window display and showroom, it makes the goods highly expensive. (a) The customers are asked to make full payment in advance before goods are sent by post. 5. Due to their high sales, convenience stores receive products almost daily because convenience stores don’t have the luxury of high-volume purchases, and because many of the products are impulse purchases, most products are priced relatively high. Specialty stores utilize a market segmentation strategy rather than a typical mass marketing strategy when trying to attract customers. They send the catalogues to the potential customers and book the orders. Merchandising within the store is almost nonexistent, and pallets are used extensively. Department stores are so named because they are organized by departments — such as juniors, men’s wear, or lingerie. There are stores like this in India which include ‘Akberally’ in Mumbai and ‘Spencers’ in Chennai. Types of Retailers – Classified on the Basis of Products or Services, Number of Outlets, Variety of Product Sold, Level of Service, Size of Shop, Location & a Few Others, (iv) Teleshopping / Television Home Shopping. They provide different designs, styles, and sizes of quality of the same product.
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