All activities related to the sale of goods or services to the ultimate consumer for personal non business use.
Retailer owned by a single person or partnership and is not operated as a part of a larger retail institution.
Store that is part of a group of the same stores owned and operated by a single organization.
Business where operator is granted a license to operate and sell a product under a larger supporting organization.
Originator of a trade name, product methods of operation, and the like that grants operating rights to another party to sell its products.
Individual or business that is granted the right to sale another party’s product.
Amount of money a retailer makes, as a percentage of sales after the cost of goods sold is subtracted
Store housing several departments under one roof.
Retail store specializing in a given type of merchandise.
Large departmentalized, self-service retailer that specializes in food and some non-food items.
Retail store that stocks pharmacy related products and services as main draw.
Mini-supermarket, carry a limited line or high-turnover convenience goods.
retailer that compete on basis of low prices, high turnover, and high volume.
Full-line discount store
Discount store that carries a vast depth & breadth of products with in a single product category.
Large retailer that stocks and sells a wide variety of merchandise involving groceries, clothing, housing goods, and other general merchandise.
Specialty discount store
Retail store that offers a nearly complete selection of single-line merchandise and uses self-service, discount prices, high volume, and high turnover.
Large discount store that specializes in a single line of merchandising and becomes dominant retailer in its category.
Large, no frills retailer, that sells bulk quantities of merchandise to customers at volume discount prices in exchange for a periodic membership fee. (Sam’s Club)
Retailer that sells at prices 25% or more below traditional department store prices because it pays cash for its stock and usually does not ask for return privileges.
Off price retailer that is owned and operated by a manufacturer.
Used goods retailer
Retailer turns customers into suppliers; Items purchased from one of other type of retailer can be resold to different customer.
Self service technologies(SST)
Technological interfaces that allow customers to provide themselves with the product and/or services without intervention of service employee.
Shopping without visiting the store.
Selling of products by representatives who work door-to-door, or office-to-office, or at home sales parties.
Techniques used to get consumers to make a purchase from their home, or other non-retail setting.
Use of direct marketing techniques that employ highly detailed data analytics in order to isolate potential customers with great precision.
Inventory displayed for sale to customers.
Inventory held in reserve for potential future sale in a retailers storeroom or stockroom.
Combination of 6 P’s:
Reduction of sales for one brand as the result of the introduction of a new product or promotion of a current product by another brand.
Store consumers purposely plan to visit before shopping.
Overall impression conveyed by a stores physical layout, decor, & surroundings.
Internal design and configuration of a stores fixtures and products.
Big data analytics
Process of discovering patterns in large data sets for the purpose of extracting knowledge and understanding human behavior.
Understanding how one’s target consumers behave as shoppers in different channels and formats and leveraging their intelligence to generate sales or other positive outcomes.
Searching for and discovering meaningful patterns in shopper data for the purpose of fine-tuning, developing, or changing market offerings.
Retail channel omnifications
Reduction of multiple retail channel systems into a single, unified system for the purpose of creating efficiencies or saving cost.
Click & Collect
Practice of buying something online and then traveling to the store location to take delivery of merchandise.