📒 What is Retail Buisness?
Retail businesses sell items or services to customers for their consumption, use, or pleasure. They typically sell items and services in-store but some items may be sold online or over the phone and then shipped to the customer. Examples of retail businesses include clothing, drug, grocery, and convenience stores.
📒 What are the types of Retailers?
Types of Retailers
A.Department Stores. Traditional department stores sell a wide range of merchandise that is arranged by category into different sections in the physical retail space. ...
B.Grocery Stores and Supermarkets. ...
C.Warehouse Retailers. ...
D.Specialty/Outlet Retailers. ...
E.Discount Retailer. ...
F.Internet/Mobile Retailer.
📒 Categories of Retailer
◕ Department Stores.
This type of retail outlet is one of the most complex types of establishments that offer a wide range of products. ...
◕ Specialty Stores. ...
◕ Supermarkets. ...
◕ Convenience Stores. ...
◕ Discount Stores. ...
◕ Hypermarkets or Super Stores. ...
◕ Warehouse Stores. ...
◕ E-Commerce Stores.
📒 5R's of Retailing?
The 5 R's of Retail Merchandising
◉ The Right Product. There's no accounting for taste, so this is basically a matter of being in the know. ...
◉ The Right People. Once you have your product, you have to make sure the right people are seeing it. ...
◉ The Right Time. ...
◉ The Right Way. ...
◉ The Right Price.
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