Retail

Retail markets and shops have a very ancient history, dating back to antiquity. Over
the centuries, retail shops were transformed from little more than "rude booths" to Retail
the sophisticated shopping malls that we know today
.

Retailing involves the process of selling consumer goods or services to customers

through multiple channels of distribution to earn a profit. Retailers satisfy demand
identified through a supply chain. Some of the earliest retailers were itinerant
peddlers. The term "retailer" is typically applied where a service provider fills the
small orders of a large number of individuals, who are end-users, rather than large
orders of a small number of wholesale, corporate or government clientele. Shopping
generally refers to the act of buying products. Sometimes this is done to obtain final
goods, including necessities such as food and clothing; sometimes it takes place as a
Macy's Herald Square, New York
recreational activity. Recreational shopping often involves window shopping (just
City
looking, not buying) and browsing: it does not always result in a purchase.

Modern retailers typically make a variety of strategic level decisions including the
type of store, the market to be served, the optimal product assortment, customer
service, supporting services and the store's overall market positioning. Once the
strategic retail plan is in place, retailers devise the retail mix which includes product,
price, place, promotion, personnel and presentation. In the digital age, an increasing
number of retailers are seeking to reach broader markets by selling through multiple
channels, including both bricks and mortar and online retailing. Digital technologies
are also changing the way that consumers pay for goods and services. Retailing
support services may also include the provision of credit, delivery services, advisory
services, stylist services and a range of other supporting services.

Retail shops occur in a diverse range of types and in many different contexts from
strip shopping centres in residential streets through to large, indoor shopping malls.
Shopping streets may restrict traffic to pedestrians only. Sometimes a shopping street
has a partial or full roof to create a more comfortable shopping environment
A French itinerant medicine vendor
protecting customers from various types of weather conditions such as extreme
on stage selling his wares
temperatures, winds or precipitation. Forms of non-shop retailing include online
retailing (a type of electronic-commerce used for business-to-consumer (B2C)
transactions) and mail order.

Contents
1 Etymology
2 History
2.1 Retailing in antiquity
2.2 Retailing in Medieval Europe Goods are displayed in a rustic
2.3 Retailing in the 17th, 18th and 19th centuries manner in Marrakech's souk (market)
2.4 Retailing in the modern era
3 Retail strategy
 4 The retail mix
4.1 Product
4.1.1 Product assortment
4.1.2 Customer service and supporting services
4.1.2.1 Types of customer service
4.2 Place
4.2.1 Location
4.3 Pricing strategy and tactics
4.3.1 Pricing tactics
4.4 Personnel and staffing
4.4.1 Selling and sales techniques Fresh produce markets have existed
since ancient times. Pictured,La
4.5 Promotion
Boqueria market in Barcelona
4.6 Presentation
4.6.1 Designing retail spaces

5 Shopper profiles
6 Types of retail outlets
6.1 Retail type by product
6.2 Retail types by marketing strategy
6.3 Other retail types
7 Global top ten retailers
7.1 Competition
8 Challenges
9 Statistics for national retail sales
9.1 United States
9.2 Central Europe
9.3 World
10 Consolidation
11 See also
12 References
13 Further reading
14 External links

Etymology
Retail comes from the Old French word tailler, which means "to cut off, clip, pare, divide" in terms of tailoring (1365). It was first
recorded as a noun with the meaning of a "sale in small quantities" in 1433 (from the Middle French retail, "piece cut off, shred,
scrap, paring").[1] As in the French, the word,retail, in both Dutch and German, also refers to the sale of small quantities of items.

History
See also: History of merchants; History of the market place ; History of marketing

Retailing in antiquity
Retail markets have existed since ancient times. Archaeological evidence for trade, probably involving barter systems, dates back
more than 10,000 years. As civilizations grew, barter was replaced with retail trade involving coinage. Selling and buying is thought
to have emerged in Asia Minor (modern Turkey) in around the 7th millenium BCE.[2] Gharipour points to evidence of primitive
shops and trade centres in Sialk Hills in Kashan (6,000 BCE), Catalk Huyuk in modern-day Turkey (7,5005,700 BCE), Jericho
(2,600 BCE) and Susa (4,000 BCE).[3] Open air, public markets were known in ancient Babylonia, Assyria, Phoenicia and Egypt.
These markets typically occupied a place in the town's centre. Surrounding the market, skilled artisans, such as metal-workers and
leather workers, occupied permanent premises in alleys that led to the open market-
place. These artisans may have sold wares directly from their premises, but also
prepared goods for sale on market days.[4] In ancient Greece markets operated
within the agora, an open space where, on market days, goods were displayed on
mats or temporary stalls. In ancient Rome, trade took place in the forum. Rome had
two forums; the Forum Romanum and Trajan's Forum. The latter was a vast
expanse, comprising multiple buildings with shops on four levels. The Roman forum
was arguably the earliest example of a permanent retail shop-front.[5] In antiquity,
exchange involved direct selling via merchants or peddlers and bartering systems Phoenician merchants traded across
were commonplace.[6] the entire Mediterranean region

The Phoenicians, noted for their seafaring skills, plied their ships across the
Mediterranean, becoming a major trading power by the 9th century BCE. The Phoenicians imported and exported wood, textiles,
glass and produce such as wine, oil, dried fruit and nuts. Their trading skills necessitated a network of colonies along the
Mediterranean coast, stretching from modern day Crete through to Tangiers and onto Sardinia[7] The Phoenicians not only traded in
tangible goods, but were also instrumental in transporting culture. The Phoenician's extensive trade networks necessitated
considerable book-keeping and correspondence. In around 1500 BCE, the Phoenicians developed a consonantal alphabet which was
much easier to learn that the complex scripts used in ancient Egypt and Mesopotamia. Phoenician traders and merchants were largely
responsible for spreading their alphabet around the region.[8] Phoenician inscriptions have been found in archaeological sites at a
number of former Phoenician cities andcolonies around the Mediterranean, such as Byblos (in present-day Lebanon) and Carthage in
North Africa.[9]

Grand Bazaar, Istanbul (interior).
Established in 1455, it is thought to
be the oldest continuously operating
covered markets
In the Graeco-Roman world, the market primarily served the local peasantry. Local
producers, who were generally poor, would sell small surpluses from their individual
farming activities, purchase minor farm equipment and also buy a few luxuries for
their homes. Major producers such as the great estates were suf
ficiently attractive for
merchants to call directly at their farm-gates, obviating the producers' need to attend
local markets. The very wealthy landowners managed their own distribution, which
may have involved exporting and importing. The nature of export markets in
antiquity is well documented in ancient sources and archaeological case studies.[10]
The Romans preferred to purchase goods from specific places: oysters from
Londinium, cinnamon from a specific mountain in Arabia, and these place-based
preferences stimulated trade throughout Europe and the middle East.[11] Markets
were also important centres of social life.[12]

The rise of retailing and marketing in England and Europe has been extensively studied, but less is known about developments
elsewhere.[13] Nevertheless, recent research suggests that China exhibited a rich history of early retail systems.[14] From as early as
200 BCE, Chinese packaging and branding was used to signal family, place names and product quality, and the use of government
imposed product branding was used between 600 and 900 CE.[15] Eckhart and Bengtsson have argued that during the Song Dynasty
(9601127), Chinese society developed a consumerist culture, where a high level of consumption was attainable for a wide variety of
ordinary consumers rather than just the elite.[16] The rise of a consumer culture led to the commercial investment in carefully
managed company image, retail signage, symbolic brands, trademark protection and sophisticated brand concepts.[17]

Retailing in Medieval Europe

In Medieval England and Europe, relatively few permanent shops were to be found; instead customers walked into the tradesman's
workshops where they discussed purchasing options directly with tradesmen. In 13th century London, mercers and haberdashers were
known to exist and grocers sold "miscellaneous small wares as well as spices and medicines" but fish and other perishables were sold
.[18]
through markets, costermongers, hucksters, peddlers or other type of itinerant vendor
In the more populous cities, a small number of shops were beginning to emerge by
the 13th century. In Chester, a medieval covered shopping arcade represented a
major innovation that attracted shoppers from many miles around. Known as "The
Rows" this medieval shopping arcade is believed to be the first of its kind in
Europe.[19] Fragments of Chester's Medieval Row, which is believed to date to the
mid-13th century, can still be found in Cheshire.[20] In the 13th or 14th century,
another arcade with several shops was recorded at Drapery Row in Winchester.[21]
The emergence of street names such as Drapery Row, Mercer's Lane and
Ironmonger Lane in the medieval period suggests that permanent shops were
The Row, Chester, Cheshire,
becoming more commonplace. England, c. 1895; a unique medieval
shopping arcade
Medieval shops had little in
common with their modern
equivalent. As late as the 16th century, London's shops were described as little more
than "rude booths" and their owners "bawled as loudly as the itinerants." [22] Cox
and Dannehl suggest that the shopper's experience was very different. Glazed
windows, which were rare in the seventeenth century, and did not become
commonplace until the eighteenth century, meant that shop interiors were dark
places. Goods were rarely out on display and the service counter was unknown.
Shoppers had relatively few opportunities to inspect the merchandise prior to
A typical 17th century shop, with consumption. Many stores had openings onto the street and served customers from
customers being served through an there.[23]
opening onto the street
Outside the major cities, most consumable purchases were made through markets or
fairs. Markets were held daily in the more populous towns and cities or weekly in
the more sparsely populated rural districts. Markets sold fresh produce; fruit, vegetables, baked goods, meat, poultry, fish and some
ready to eat foodstuffs; while fairs operated on a periodic cycle and were almost always associated with a religious festival.[24] Fairs
sold non-perishables such as farm tools, homewares, furniture, rugs and ceramics. Market towns dotted the medieval European
landscape while itinerant vendors supplied less populated areas or hard-to-reach districts. Peddlers and other itinerant vendors
operated alongside other types of retail for centuries. The political philosopher, John Stuart Mill compared the convenience of
markets/fairs to that of the intinerant peddlers:

"The contrivance of fairs and markets was early had recourse to, where consumers and
producers might periodically meet, without any intermediate agency; and this plan answers
tolerably well for many articles, especially agricultural produce... but were inconvenient to
buyers who have other occupations, and do not live in the immediate vicinity... and the wants
of the consumers must either be provided for so long beforehand, or must remain so long
unsupplied, that even before the resources of society admitted of the establishment of
shops, the supply of these wants fell universally into the hands of itinerant dealers: the
pedlar, who might appear once a month, being preferred to the fair, which only returned once
or twice a year." [25]

Blintiff has investigated the early Medieval networks of market towns and suggests that by the 12th century there was an upsurge in
the number of market towns and the emergence of merchant circuits as traders bulked up surpluses from smaller regional, different
day markets and resold them at the larger centralised market towns.[26] The Grand Bazaar in Istanbul is often cited as the world's
oldest continuously-operating market; its construction began in 1455. In the 15th century the Mexica (Aztec) market of Tlatelolco
was the largest in all the Americas.[27]

English market towns were regulated from a relatively early period. The English monarchs awarded a charter to local Lords to create
markets and fairs for a town or village. This charter would grant the lords the right to take tolls and also afford some protection from
rival markets. For example, once a chartered market was granted for specific market days, a nearby rival market could not open on
the same days.[28] Across the boroughs of England, a network of chartered markets sprang up between the 12th and 16th centuries,

[29]
giving consumers reasonable choice in the markets they preferred to patronise.[29] A
study on the purchasing habits of the monks and other individuals in medieval
England, suggests that consumers of the period were relatively discerning. Purchase
decisions were based on purchase criteria such as consumers' perceptions of the
range, quality, and price of goods. This informed decisions about where to make
their purchases and which markets were superior.[30] Today, traders and showmen
jealously guard the reputation of these historic market charters.

Braudel and Reynold have made a systematic study of these European market towns
A fish market by Joachim
between the thirteenth and fifteenth century. Their investigation shows that in
Beuckelaer, c. 1568
regional districts markets were held once or twice a week while daily markets were
common in larger cities. Gradually over time, permanent shops with regular trading
days began to supplant the periodic markets, while peddlers filled in the gaps in distribution. The physical market was characterised
by transactional exchange and the economy was characterised by local trading. Braudel reports that, in 1600, goods travelled
relatively short distances grain 510 miles; cattle 4070 miles; wool and wollen cloth 2040 miles. Following the European age of
discovery, goods were imported from afar calico cloth from India, porcelain, silk and tea from China, spices from India and South-
East Asia and tobacco, sugar, rum and coffee from the New World.[31]

English essayist, Joseph Addison, writing in 1711, described the exotic origin of produce available to English society in the following
terms:

"Our Ships are laden with the Harvest of every Climate: Our Tables are stored with Spices,
and Oils, and Wines: Our Rooms are filled with Pyramids of China, and adorned with the
Workmanship of Japan: Our Morning's Draught comes to us from the remotest Corners of
the Earth: We repair our Bodies by the Drugs of America, and repose ourselves under Indian
Canopies. My Friend Sir ANDREW calls the Vineyards of France our Gardens; the Spice-
Islands our Hot-beds; the Persians our Silk-Weavers, and the Chinese our Potters. Nature
indeed furnishes us with the bare Necessaries of Life, but Traffick gives us greater Variety of
what is Useful, and at the same time supplies us with every thing that is Convenient and
Ornamental." [32]

Luca Clerici has made a detailed study of Vicenzas food market during the sixteenth century. He found that there were many
different types of reseller operating out of the markets. For example, in the dairy trade, cheese and butter was sold by the members of
two craft guilds (i.e., cheesemongers who were shopkeepers) and that of the so-called resellers (hucksters selling a wide range of
foodstuffs), and by other sellers who were not enrolled in any guild. Cheesemongers shops were situated at the town hall and were
very lucrative. Resellers and direct sellers increased the number of sellers, thus increasing competition, to the benefit of consumers.
Direct sellers, who brought produce from the surrounding countryside, sold their wares through the central market place and priced
[33]
their goods at considerably lower rates than cheesemongers.

Retailing in the 17th, 18th and 19th centuries

The retail service counter was an
innovation of the eighteenth century
By the 17th century, permanent shops with more regular trading hours were
beginning to supplant markets and fairs as the main retail outlet. Provincial
shopkeepers were active in almost every English market town. These shopkeepers
sold general merchandise, much like a contemporary convenience store or a general
store. For example, William Allen, a mercer in Tamworth who died in 1604, sold
spices alongside furs and fabrics.[34] William Stout of Lancaster retailed sugar,
tobacco, nails and prunes at both his shop and at the central markets. His
autobiography reveals that he spent most of his time preparing products for sale at
[35]
the central market, which brought an influx of customers into town.
As the number of shops grew, they underwent a transformation. The trappings of a modern shop, which had been entirely absent from
the sixteenth and early seventeenth century store, gradually made way for store interiors that are more familiar to modern shops. Prior
to the eighteenth century, there were no counters, display cases, chairs, mirrors, changing-rooms, etc. However, the opportunity for
the customer to browse merchandise, touch and feel products began to be available, with retail innovations from the late 17th and
early 18th centuries.[36]

Outside the major metropolitan cities, few stores could afford to serve one type of
clientele exclusively. However, gradually retail shops introduced innovations that
would allow them to separate wealthier customers from the "rif
f raff." One technique
was to have a window opening out onto the street from which customers could be
served. This allowed the sale of goods to the common people, without encouraging
them to come inside. Another solution, that came into vogue from the late sixteenth
century was to invite favoured customers into a back-room of the store, where goods
were permanently on display. Yet another technique that emerged around the same
time was to hold a showcase of goods in the shopkeeper's private home for the
Josiah Wedgewood was one of the
benefit of wealthier clients. Samuel Pepys, for example, writing in 1660, describes English entrepreneurs who held
being invited to the home of a retailer to view a wooden jack.[37] The eighteenth expansive displays in his private
century English entrepreneurs, Josiah Wedgewood and Matthew Boulton, both home or in rented premises
staged expansive showcases of their wares in their private residences or in rented
halls.[38]

Savitt has argued that by the eighteenth century, American merchants, who had been operating as importers and exporters, began to
specialise in either wholesale or retail roles. They tended not to specialise in particular types of merchandise, often trading as general
merchants, selling a diverse range of product types. These merchants were concentrated in the larger cities. They often provided high
levels of credit financing for retail transactions.[39]

By the late eighteenth century, shopping arcades began to emerge

across Europe and in the Antipodes. A shopping arcade refers to a
multiple-vendor space, operating under a covered roof. Typically, the
roof was constructed of glass to allow for natural light and to reduce
the need for candles or electric lighting. The architect, Bertrand
Lemoine, described the period, 1786 to 1935, as lre des passages
couverts (the Arcade Era).[40] Designed to attract the genteel middle
class, retailers sold luxury goods at relatively high prices. However,
prices were never a deterrent, as these new arcades came to be the
place to shop and to be seen. Arcades offered shoppers the promise
of an enclosed space away from the chaos that characterised the
The Piccadilly entrance to the Burlington Arcade in
noisy and dirty streets; a warm, dry space away from the elements,
182728
and a safe-haven where people could socialise and spend their leisure
time. As thousands of glass covered arcades spread across Europe,
they became grander and more ornately decorated. By the mid nineteenth century, they had become prominent centres of fashion and
social life. Promenading in these arcades became a popular nineteenth century pass-time for the emerging middle classes. The
Illustrated Guide to Parisof 1852 summarized the appeal of arcades in the following description:

In speaking of the inner boulevards, we have made mention again and again of the arcades
which open onto them. These arcades, a recent invention of industrial luxury, are glass-
roofed, marble-paneled corridors extending through whole blocks of buildings, whose
owners have joined together for such enterprises. Lining both sides of these corridors, which
get their light from above, are the most elegant shops, so that the arcade is a city, a world in
miniature, in which customers will find everything they need. [41]
The Palais-Royal in Paris, which opened to the public in
1784 and became one of the most important marketplaces
in Paris, is generally regarded as the earliest example of a
shopping arcade.[42] The Palais-Royal was a complex of
gardens, shops and entertainment venues situated on the
external perimeter of the grounds, under the original
colonnades. The area boasted some 145 boutiques, cafs,
salons, hair salons, bookshops, museums, and numerous
Entrance to the Palais-Royal
refreshment kiosks as well as two theatres. The retail
outlets specialised in luxury goods such as fine jewelry,
furs, paintings and furniture designed to appeal to the wealthy elite. Retailers operating out of the Palais complex were among the
first in Europe to abandon the system of bartering, and adopt fixed-prices thereby sparing their clientele the hassle of bartering. Stores
were fitted with long glass exterior windows which allowed the emerging middle-classes to window shop and indulge in fantasies,
even when they may not have been able to afford the high retail prices. Thus, the Palais-Royal became one of the first examples of a
new style of shopping arcade, frequented by both the aristocracy and the middle classes. It developed a reputation as being a site of
sophisticated conversation, revolving around the salons, cafs, and bookshops, but also became a place frequented by off-duty
soldiers and was a favorite haunt of prostitutes, many of whom rented apartments in the building.[43] London's Burlington Arcade,
which opened in 1819, positioned itself as an elegant and exclusive venue from the outset.[44] Other notable nineteenth century grand
arcades include the Galeries Royales Saint-Hubertin Brussels which was inaugurated in 1847, Istanbul's iek Pasaj opened in 1870
and Milan's Galleria Vittorio Emanuele II first opened in 1877. Shopping arcades were the precursor to the modern shopping mall.

The original Toad Lane Store,
Rochdale, Manchester; one of
Britain's earliest co-operative stores
While the arcades were the province of the bourgeoisie, a new type of retail venture
emerged to serve the needs of the working poor. John Stuart Mill wrote about the
rise of the co-operative retail store, which he witnessed first-hand in the mid-
nineteenth century. Stuart Mill locates these co-operative stores as part of a broader
co-operative movement which was prominent in the industrial city of Manchester
and in the counties of Yorkshire and Lancashire. He documents one of the early co-
operative retail stores in Rochdale in Manchester, England, "In 1853, the Store
purchased for 745, a warehouse (freehold) on the opposite side of the street, where
they keep and retail their stores of flour, butcher's meat, potatoes, and kindred
articles." Stuart Mill also quoted a contemporary commentator who wrote of the
benefits of the co-operative store:

"Buyer and seller meet as friends; there is no overreaching on

one side, and no suspicion on the other.... These crowds of humble working men, who never
knew before when they put good food in their mouths, whose every dinner was adulterated,
whose shoes let in the water a month too soon, whose waistcoats shone with devil's dust,
and whose wives wore calico that would not wash, now buy in the markets like millionaires,
and as far as pureness of food goes, live like lords." [45]

Retailing in the modern era

The modern era of retailing is defined as the period from the industrial revolution to the 21st century.[46] In major cities, the
department store emerged in the mid to late 19th century, and permanently reshaped shopping habits, and redefined concepts of
service and luxury. The term, "department store" originated in America. In 19th century England, these stores were known as emporia
or warehouse shops.[47] A number of major department stores opened across the USA, Britain and Europe from the mid nineteenth
century including; Harrod's of London in 1834; Kendall's in Manchester in 1836; Selfridges of London in 1909; Macy's of New York
in 1858; Bloomingdale's in 1861; Sak's in 1867; J.C. Penney in 1902; Le Bon March of France in 1852 and Galeries Lafayette of
France in 1905. Other twentieth century innovations in retailing included chain stores, mail-order, multi-level marketing (pyramid
selling or network marketing,c. 1920s), party plans (c. 1930s) and B2C e-commerce (cyber-peddling).[48]
Many of the early department stores were more than just a retail emporium; rather
they were venues where shoppers could spend their leisure time and be entertained.
Some department stores offered reading rooms, art galleries and concerts. Most
department stores had tea-rooms or dining rooms and offered treatment areas where
ladies could indulge in a manicure. The fashion show, which originated in the US in
around 1907, became a staple feature event for many department stores and celebrity
appearances were also used to great effect. Themed events featured wares from
foreign shores, exposing shoppers to the exotic cultures of the Orient and Middle-
Department stores, such asLe Bon
East.[49] March of France, appeared from the
mid nineteenth century
During this period, retailers worked
to develop modern retail marketing
practices. Pioneering merchants who contributed to modern retailing practice and
retail marketing methods include: A. T. Stewart, Potter Palmer, John Wanamaker,
Montgomery Ward, Marshall Field, Richard Warren Sears, Rowland Macy, J.C.
Penney, Fred Lazarus, brothers Edward and William Filene and Sam Walton.[50] For
example, Edward Filene, a proponent of the scientific approach to retail
management, developed the concept of Automatic bargain Basement. Although
Filene's Basement was not the first bargain basement in the U.S., the principles of
In 1963, Carrefour opened the first
automatic mark-downs generated excitement and proved very profitable. Under
hypermarket in St Genevieve-de-
Bois, near Paris, Filene's plan, merchandise had to be sold within 30 days or it was marked down;
after a further 12 days, the merchandise was further reduced by 25% and if still
unsold after another 18 days, a further markdown of 25% was applied. If the
merchandise remained unsold after two months, it was given to charity.[51] Filene was a pioneer in employee relations. He instituted
a profit sharing program, a minimum wage for women, a 40-hour work week, health clinics and paid vacations. He also played an
important role in encouraging the Filene Cooperative Association, "perhaps the earliest American company union". Through this
channel he engaged constructively with his employees in collective bargaining and arbitration processes.[52] Montgomery Ward is
credited with developing catalog sales and mail-order systems. His first catalog which was issued in August 1872 consisted of an 8 in
12 in (20 cm 30 cm) single-sheet price list, listing 163 items for sale with ordering instructions for which Ward had written the
[53]
copy. He also devised the catch-phrase "satisfaction guaranteed or your money back" which was implemented in 1875.

Throughout the twentieth century, a trend towards larger store footprints became
discernible. The average size of a U.S. supermarket grew from 31,000 square feet in
1991 to 44,000 square feet in 2000. In 1963, Carrefour opened the first hypermarket
in St Genevieve-de-Bois, near Paris, France.[54] By the end of the twentieth century,
stores were using labels such as "mega-stores" and "warehouse" stores to reflect
their growing size. In Australia, for example, the popular hardware chain, Bunnings
has shifted from smaller "home centres" (retail floor space under 5,000 square
metres) to "warehouse" stores (retail floor space between 5,000 and 21,000 square
metres) in order to accommodate a wider range of goods and in response to
population growth and changing consumer preferences.[55] The upward trend of
increasing retail space was not consistent across nations, and led in the early 21st
century to a 2-fold difference in square footage per capita between the United States
and Europe.[56] As the 21st century takes shape, some indications suggest that large
retail stores have come under increasing pressure from online sales models and that
reductions in store size are evident.[57]
Shopping mall in Warsaw, Poland

Retail strategy
 The distinction between strategic and managerial decision-making is commonly
used to distinguish "two phases having different goals and based on different
conceptual tools. Strategic planning concerns the choice of policies aiming at
improving the competitive position of the firm, taking account of challenges and
opportunities proposed by the competitive environment. On the other hand,
managerial decision-making is focused on the implementation of specific targets."
[58]

Retailers make many strategic
decisions store type, market
served, product assortment and
customer services
strategy is normally devised every 3 5 years by the chief executive of
In retailing, the strategic plan is designed to set out the vision and provide guidance
for retail decision-makers and provide an outline of how the product and service mix
will optimize customer satisfaction. As part of the strategic planning process, it is
customary for strategic planners to carry out a detailed environmental scan which
seeks to identify trends and opportunities in the competitive environment, market
environment, economic environment and statutory-political environment. The retail
ficer.

[59]
The strategic retail analysis typically includes following elements:

* Market analysis

Market size, stage of market, market

competitiveness, market attractiveness, market
trends

* Customer analysis

Market segmentation, demographic, geographic

and psychographic profile, values and attitudes,
shopping habits, brand preferences, analysis of The retailer also considers the
needs and wants, media habits overall strategic position and retail
image
* Internal analysis

Other capabilities e.g. human resource capability, technological capability, financial

capability, ability to generate scale economies or economies of scope, trade relations,
reputation, positioning, past performance

* Competition analysis

Availability of substitutes, competitor's strengths and weaknesses, perceptual mapping,

competitive trends

* Review of product mix

Sales per square foot, stock-turnover rates, profitability per product line

* Review of distribution channels

Lead-times between placing order and delivery, cost of distribution, cost efficiency of
intermediaries

* Evaluation of the economics of the strategy

Cost-benefit analysis of planned activities

The retail strategy, including service quality, has a significant and positive association on customer loyalty.[60] A marketing strategy
effectively outlines all key aspects of firms' targeted audience, demographic and preference. In a highly competitive market, the retail
strategy sets up long-term sustainability. It focuses on customer relationships, stressing the importance of added value and customer
satisfaction.

The retail mix

See also product management; promotion mix; marketing mix; price; servicescapes
and retail design

Once the strategic plan is in place, retail managers turn to the more managerial
aspects of planning. A retail mix is devised for the purpose of coordinating day-to-
day tactical decisions. The retail mix typically consists of six broad decision layers
including product decisions, place decisions, promotion, price, personnel and
presentation (also known as physical evidence).[61] The retail mix is loosely based
on the marketing mix, but has been modified in line with the needs of the retail
context and is often called the6 Ps of retailing.[62][63] The retail mix

Product
See Product management

The primary product-related decisions facing the retailer are the product assortment (what product lines, how many lines and which
brands to carry); the type of customer service (high contact through to self-service) and the availability of support services (e.g. credit
terms, delivery services, after sales care). These decisions depend on careful analysis of the market, demand, competition as well as
the retailer's skills and expertise.

Product assortment
The term product assortment refers to the combination of both product breadth and
[64]
depth. The main characteristics of a company's product assortment are:

(1) the length or number of products lines

the number of different products carried by a store
(2) the breadth
refers to the variety of product lines that a store offers. It
is also known as product assortment width, merchandise
breadth, and product line width.:
(3) depth or number of product varieties within a product A typical supermarket carries an
line assortment of between 30,000 and
the number of each item or particular styles carried by a 60,000 different products
store
(4) consistency
how products relate to each other in a retail environment.

For a retailer, finding the right balance between breadth and depth can be a key to success. An average supermarket might carry
30,00060,000 different product lines (product length or assortment), but might carry up to 100 different types of toothpaste (product
depth).[65] Specialty retailers typically carry fewer product lines, perhaps as few as 20 lines, but will normally stock greater depth.
Costco, for example, carries 5,000 different lines while Aldi carries just 1,400 lines per store.[66]

Large assortments offer consumers many benefits, notably increased choice and the possibility that the consumer will be able to
locate the ideal product. However, for the retailer, larger assortments incur costs in terms of record-keeping, managing inventory,
pricing and risks associated with wastage due to spoiled, shopworn or unsold stock. Carrying more stock also exposes the retailer to
higher risks in terms of slow-moving stock and lower sales per square foot of store
space. On the other hand, reducing the number of product lines can generate cost
savings through increased stock turnover by eliminating slow-moving lines, fewer
stockouts, increased bargaining power with suppliers, reduced costs associated with
wastage and carrying inventory, and higher sales per square foot which means more
efficient space utilisation.

When determining the number of product lines to carry, the retailer must consider
the store type, store's physical storage capacity, the perishability of items, expected Discount grocery retailer, Aldi, has
turnover rates for each line and the customer's needs and expectations. successfully trimmed the number of
product lines it carries to about 1,400

Customer service and supporting services

Customer service is the "sum of acts and elements that allow consumers to receive
what they need or desire from [the] retail establishment." It is important for a sales
associate to greet the customer and make himself available to help the customer find
whatever he needs. Retailers must decide whether to provide a full service outlet or
minimal service outlet, such as no-service in the case of vending machines; self-
service with only basic sales assistance or a full service operation as in many
boutiques and specialty stores. In addition, the retailer needs to make decisions about
sales support such as customer delivery and after sales customer care. Self-service is a more cost efficient
way to deliver goods
Retailing services may also include the provision of credit, delivery services,
advisory services, exchange/ return services, product demonstration, special orders,
customer loyalty programs, limited-scale trial, advisory services and a range of other supporting services. Retail stores often seek to
differentiate along customer service lines. For example, some department stores offer the services of a stylist; a fashion advisor, to
assist customers selecting a fashionable wardrobe for the forthcoming season, while smaller boutiques may allow regular customers
to take goods home on approval, enabling the customer to try out goods before making the final purchase. The variety of supporting
services offered is known as the service type. At one end of the spectrum, self-service operators offer few basic support services. At
the other end of the spectrum, full-service operators of
fer a broad range of highly personalised customer services to augment the retail
experience.[67]

When making decisions about customer service, the retailer must balance the customer's desire for full-service against the customer's
willingness to pay for the cost of delivering supporting services. Self-service is a very cost efficient way of delivering services since
the retailer harnesses the customers labour power to carry out many of the retail tasks. However, many customers appreciate full
[68]
service and are willing to pay a premium for the benefits of full-service.

A sales assistant's role typically includes greeting customers, providing product and service-related information, providing advice
about products available from current stock, answering customer questions, finalising customer transactions and if necessary,
providing follow-up service necessary to ensure customer satisfaction.[69] For retail store owners, it is extremely important to train
personnel with the requisite skills necessary to deliver excellent customer service. Such skills may include product knowledge,
inventory management, handling cash and credit transactions, handling product exchange and returns, dealing with difficult
customers and of course, a detailed knowledge of store policies. The provision of excellent customer service creates more
opportunities to build enduring customer relationships with the potential to turn customers into sources of referral or retail advocates.
In the long term, excellent customer service provides businesses with an ongoing
reputation and may lead to a competitive advantage.
Customer service is essential for several reasons.[70] Firstly, customer service contributes to the customer's overall retail experience.
Secondly, evidence suggests that a retail organization which trains its employees in appropriate customer service benefits more than
those who do not. Customer service training entails instructing personnel in the methods of servicing the customer that will benefit
corporations and businesses. It is important to establish a bond amongst customers-employees known as Customer relationship
management.[71]
Types of customer service
There are several ways the retailer can deliver services to consumers:

Counter service, where goods are out of reach of buyers and must be
obtained from the seller. This type of retail is common for small
expensive items (e.g. jewellery) and controlled items like medicine and
liquor. It was common before the 1900s in theUnited States and is more
common in certain countries like India.
Click and Commute, where products are ordered online and are picked
up via a drive through.
Ship to Store, where products are ordered online and can be picked up
at the retailer's main store
Delivery, where goods are shipped directly to consumer's homes or
workplaces.
Mail order from a printed catalog was invented in 1744 and was
common in the late 19th and early 20th centuries. Ordering bytelephone
was common in the 20th century, either from a catalog, newspaper,
television advertisementor a local restaurant menu, for immediate
service (especially for pizza delivery), remaining in common use for food
orders. Internet shopping a form of delivery has eclipsed phone-
ordering, and, in several sectors such as books and music all other
forms of buying. There is increasing competitor pressure to deliver Counter service is associated with
consumer goods especially those offered online in a more timely full service retail outlets and allows
fashion. Large online retailers such asAmazon.com are continually the salesperson to provide expert
innovating and as of 2015 offer one-hour delivery in certain areas. They
advice
are also working with drone technology to provide consumers with more
efficient delivery options.Direct marketing, including telemarketing and
television shopping channels, are also used to generate telephone
orders. started gaining significant market share in developed countries in the 2000s.
Door-to-door sales, where the salesperson sometimes travels with the goods for sale.
Self-service, where goods may be handled and examined prior to purchase.
Digital delivery or Download, where intangible goods, such as music, film, and electronic books and subscriptions to
magazines, are delivered directly to the consumer in the form of information transmitted either over wires or air-
waves, and is reconstituted by a device which the consumer controls (such as an MP3 player; see digital rights
management). The digital sale of models for3D printing also fits here, as do the media leasing types of services,
such as streaming.

Place
Place decisions are primarily concerned with consumer access and may involve location, space utilisation and operating hours.

Location
Also see Site selection

Retail stores are typically located where market opportunities are optimal high
traffic areas, central business districts. Selecting the right site can be a major success
factor. When evaluating potential sites, retailers often carry out a trade area
analysis; a detailed analysis designed to approximate the potential patronage area.
Techniques used in trade area analysis include: Radial (ring) studies; Gravity models
Sellers of souvenirs are typically
and Drive time analyses.[72]
located in high traffic areas such as
this London souvenir stand situated
In addition, retailers may consider a range of both qualitative and quantitative
near a railway station on a busy
factors to evaluate to potential sites under consideration:
street corner

* Macro factors

Macro factors include market characteristics (demographic, economic and socio-

cultural), demand, competition and infrastructure (e.g. the availability of power, roads,
public transport systems)
* Micro factors

Micro factors include the size of the site (e.g. availability of parking), access for delivery
vehicles

Pricing strategy and tactics

The broad pricing strategy is normally established in the company's overall strategic
plan. In the case of chain stores, the pricing strategy would be set by head office.
Broadly, there are six approaches to pricing strategy mentioned in the marketing
literature:

Operations-oriented pricing: where the objective is to

optimise productive capacity, to achieve operational
efficiencies or to match supply and demand through
varying prices. In some cases, prices might be set to de-
market.[73]

Revenue-oriented pricing: (also known as profit-

oriented pricing or cost-based pricing) where the
marketer seeks to maximise the profits (i.e., the surplus
income over costs) or simply to cover costs and break
A price tag is a highly visual and
even.[73]
objective guide to value
Customer-oriented pricing: where the objective is to
maximise the number of customers; encourage cross-
selling opportunities or to recognise different levels in the customer's ability to pay.[73]

Value-based pricing: (also known as image-based pricing) occurs where the company uses
prices to signal market value or associates price with the desired value position in the mind
of the buyer. The aim of value-based pricing is to reinforce the overall positioning strategy
e.g. premium pricing posture to pursue or maintain a luxury image.[74][75]

Relationship-oriented pricing: where the marketer sets prices in order to build or maintain
relationships with existing or potential customers.[76]

Socially-oriented pricing: Where the objective is to encourage or discourage specific social

attitudes and behaviours. e.g. high tariffs on tobacco to discourage smoking.[77]

The pricing technique used by most retailers is cost-plus pricing. This involves adding a markup amount (or percentage) to the
retailer's cost. Another common technique is suggested retail pricing. This simply involves charging the amount suggested by the
manufacturer and usually printed on theproduct by the manufacturer.

Pricing tactics
See also Pricing

When decision-makers have determined the broad approach to pricing (i.e., the pricing strategy), they turn their attention to pricing
tactics. Tactical pricing decisions are shorter term prices, designed to accomplish specific short-term goals. The tactical approach to
pricing may vary from time to time, depending on a range of internal considerations (e.g. the need to clear surplus inventory) or
external factors (e.g. a response to competitive pricing tactics). Accordingly
, a number of different pricing tactics may be employed in
the course of a single planning period or across a single year. Typically store managers have the necessary latitude to vary prices on
individual lines provided that they operate within the parameters of the overall strategic approach.
Retailers must also plan for customer preferred payment modes e.g., cash, credit,
lay-by, Electronic Funds Transfer at Point-of-Sale (EFTPOS). All payment options
require some type of handling and attract costs. If credit is to be offered, then credit
terms will need to be determined. If lay-by is offered, then the retailer will need to
take into account the storage and handling requirements. If cash is the dominant
mode of payment, the retailer will need to consider small change requirements, the
number of cash floats required, wages costs associated with handling large volumes
of cash and the provision of secure storage for change floats. Large retailers,
handling significant volumes of cash, may need to hire security service firms to
Retailers must also plan for mode of
carry the day's takings and deliver supplies of small change. A small, but increasing
payment
number of retailers are beginning to accept newer modes of payment including
PayPal and Bitcoin.[78] For example, Subway (US) recently announced that it would
accept Bitcoin payments.[79]

Pricing tactics that are commonly used in retail include:

Discount pricing

Discount pricing is where the marketer or retailer offers a reduced price. Discounts
in a variety of forms e.g. quantity discounts, loyalty rebates, seasonal discounts,
periodic or random discounts etc.[80]

Everyday low prices (EDLP)

A discount is any form of reduction in
Everyday low prices refers to the practice of maintaining a regular low price-low price
price in which consumers are not forced to wait for discounting or specials. This
method is extensively used by supermarkets.[81]

High-low pricing

High-low pricing refers to the practice of offering goods at a high price for a period
of time, followed by offering the same goods at a low price for a predetermined
time. This practice is widely used by chain stores selling homewares. The main
disadvantage of the high-low tactic is that consumers tend to become aware of the
[82][83]
price cycles and time their purchases to coincide with a low-price cycle.
"Everyday Low Prices" are widely
Loss leader
used in supermarkets

A loss leader is a product that has a price set below the operating margin. Loss
leadering is widely used in supermarkets and budget-priced retail outlets where it is
intended to generate store traffic. The low price is widely promoted and the store is prepared to take a small loss on an individual
item, with an expectation that it will recoup that loss when customers purchase other higher priced-higher margin items. In service
industries, loss leadering may refer to the practice of charging a reduced price on the first order as an inducement and with
anticipation of charging higher prices on subsequent orders.

Price bundling

Price bundling (also known asproduct bundling) occurs where two or more products or services are priced as a package with a single
price. There are several types of bundles: pure bundles where the goods can only be purchased as package or mixed bundles where
the goods can be purchased individually or as a package. The prices of the bundle is typically less than when the two items are
purchased separately.[84] Price bundling is extensively used in the personal care sector to prices cosmetics and skincare.

Price lining
Price lining is the use of a limited number of prices for all product offered by a
business. Price lining is a tradition started in the old five and dime stores in which
everything cost either 5 or 10 cents. In price lining, the price remains constant but
quality or extent of product or service adjusted to reflect changes in cost. The
underlying rationale of this tactic is that these amounts are seen as suitable price
points for a whole range of products by prospective customers. It has the advantage
of ease of administering, but the disadvantage of inflexibility
, particularly in times of
inflation or unstable prices. Price lining continues to be widely used in department Xbox price bundle price

stores where customers often note racks of garments or accessories priced at

predetermined price points e.g. separate racks of men's ties, where each rack is
priced at $10, $20 and $40.

Promotional pricing

Promotional pricing is a temporary measure that involves setting prices at levels lower than normally charged for a good or service.
Promotional pricing is sometimes a reaction to unforeseen circumstances, as when a downturn in demand leaves a company with
[85]
excess stocks; or when competitive activity is making inroads into market share or profits.

Psychological pricing

Psychological pricing is a range of tactics designed to have a positive psychological

impact. Price tags using the terminal digit "9", ($9.99, $19.99 or $199.99) can be
used to signal price points and bring an item in at just under the consumer's
reservation price. Psychological pricing is widely used in a variety of retail
settings.[86]

Personnel and staffing

Because patronage at a retail outlet varies, flexibility in scheduling is desirable.
Employee scheduling software is sold, which, using known patterns of customer
patronage, more or less reliably predicts the need for staffing for various functions at
times of the year, day of the month or week, and time of day. Usually needs vary
widely. Conforming staff utilization to staffing needs requires a flexible workforce
which is available when needed but does not have to be paid when they are not, part- Extensive use of the terminal digit
time workers; as of 2012 70% of retail workers in the United States were part-time. 'nine' suggests that psychological
pricing is at play
This may result in financial problems for the workers, who while they are required
to be available at all times if their work hours are to be maximized, may not have
sufficient income to meet their family and other obligations.[87]

Selling and sales techniques

Also see Personal selling

Retailers can employ different techniques to enhance sales volume and to improve the customer experience:

Add-on, Upsell or Cross-sell.

Upselling and cross selling are sometimes known as suggestive selling. When the consumer
has selected their main purchase, sales assistants can try to sell the customer on a premium
brand or higher quality item (up-selling) or can suggest complementary purchases (cross-
selling). For instance, if a customer purchases a non-stick frypan, the sales assistant might
suggest plastic slicers that do not damage the non-stick surface.
Selling on value
 Skilled sales assistants find ways to focus on value
rather than price. Selling on value often involves
identifying a products unique features. Adding value to
goods or services such as a free gift or buy 1 get 1 free
adds value to customers where as the store is gaining
sales [88]
Know when to close the sale
Sales staff must learn to recognise when the customer is
ready to make a purchase. If the sales person feels that
the customer is ready, then they may seek to gain One of the most well-known cross-
commitment and close the sale. Experienced sales staff selling sales scripts comes from
soon learn to recognise specific verbal and non-verbal McDonald's. "Would you like fries
cues that signal the client's readiness to buy. For with that?"
instance, if a customer begins to handle the
merchandise, this may indicate a state of buyer interest.
Clients also tend to employ different types of questions throughout the sales process.
General questions such as, "Does it come in any other colours (or styles)?" indicate only a
moderate level of interest. However, when clients begin to ask specific questions, such as
"Do you have this model in black?" then this often indicates that the prospect is approaching
readiness to buy.[89] When the sales person believes that the prospective buyer is ready to
make the purchase, a trial close might be used to test the waters. A trial close is simply any
attempt to confirm the buyer's interest in finalising the sale. An example of a trial close, is
"Would you be requiring our team to install the unit for you?" or "Would you be available to
take delivery next Thursday?" If the sales person is unsure about the prospect's readiness to
buy, they might consider using a 'trial close.' The salesperson can use several different
techniques to close the sale; including the alternative close, the assumptive close, the
summary close, or the special-offer close, among others.

Promotion
One of the unique aspects of retail promotions is that two brands are often involved; the store brand and the brands that make up the
retailer's product range. Retail promotions that focus on the store tend to be image oriented, raising awareness of the store and
creating a positive attitude towards the store and its services. Retail promotions that focus on the product range, are designed to
cultivate a positive attitude to the brands stocked by the store, in order to indirectly encourage favourable attitudes towards the store
itself. [90] Some retail advertising and promotion is partially or wholly funded by brands and this is known as co-operative (or co-op)
advertising. [91]

Presentation
See Merchandising ; Servicescapes; Retail design

Presentation refers to the physical evidence that signals the retail image. Physical evidence may include a diverse range of elements
the store itself including premises, offices, exterior facade and interior layout, websites, delivery vans, warehouses, staf
f uniforms.

Designing retail spaces

The environment in which the retail service encounter occurs is sometimes known as the retail servicescape. [92] The store
environment consists of many elements such as smells, the physical environment (furnishings, layout and functionality), ambient
conditions (lighting, temperature, noise) as well as signs, symbols and artifacts (e.g. sales promotions, shelf space, sample stations,
visual communications). Collectively, these elements contribute to the perceived retail servicescape or the overall atmosphere and
can influence both the customer's cognitions, emotions and their behaviour within the retail space.
Retail designers pay close attention to the front of the store, which is known as the
decompression zone.[93] This is usually an open space in the entrance of the store to
allow customers to adjust to their new environment. An open-plan floor design is
effective in retail as it allows customers to see everything. In terms of the store's
exterior, the side of the road cars normally travel, determines the way stores direct
customers. New Zealand retail stores, for instance, would direct customers to the
left.

In order to maximise the number of selling opportunities, retailers generally want

customers to spend more time in a retail store. However, this must be balanced
against customer expectations surrounding convenience, access and realistic waiting
times. The overall aim of designing a retail environment is to have customers enter
the store, and explore the totality of the physical environment engaging in a variety
of retail experiences from browsing through to sampling and ultimately to
purchasing. The retail service environment plays an important role in affecting the
customer's perceptions of the retail experience.[94] The way that products are displayed
is part of the store's presentation
The retail environment not only affects quality perceptions, but can also impact on
the way that customers navigate their way through the retail space during the retail
service encounter. Layout, directional signage, the placement of furniture, shelves
and display space along with the store's ambient conditions all affect patron's
passage through the retail service system. Layout refers to how equipment, shelves
and other furnishings are placed and the relationship between them. In a retail
setting, accessibility is an important aspect of layout. For example, the grid layout
used by supermarkets with long aisles and gondolas at the end displaying premium
merchandise or promotional items, minimises the time customers spend in the
environment and makes productive use of available space.[95] The gondola, so
Simplified servicescapes model
favoured by supermarkets, is an example of a retail design feature known as a
merchandise outpost and which refers to special displays, typically at or near the end
of an aisle, whose purpose is to stimulate impulse purchasing or to complement
other products in the vicinity. For example, the meat cabinet at the supermarket
might use a merchandise outpost to suggest a range of marinades or spice rubs to
complement particular cuts of meat. As a generalisation, merchandise outposts are
.[96]
updated regularly so that they maintain a sense of novelty

According to Ziethaml et al., layout affects how easy or difficult it is to navigate

through a system. Signs and symbols provide cues for directional navigation and
also inform about appropriate behaviour within a store. Functionality refers to extent
to which the equipment and layout meet the goals of the customer.[97] For instance,
in the case of supermarkets, the customer's goal may be to minimise the amount of
time spent finding items and waiting at the check-out, while a customer in a retail The retail servicescape includes the
appearance, equipment, display
mall may wish to spend more time exploring the range of stores and merchandise.
space, retail counters, signage,
With respect to functionality of layout, retail designers consider three key issues;
layout and functionality of a retail
circulation design for traffic-flow and that encourages customers to traverse the outlet. Pictured:Harrods food court
entire store; coordination design that combines goods and spaces in order to
suggest customer needs and convenience design that arranges items to create a
[98]
degree of comfort and access for both customers and employees.

The way that brands are displayed is also part of the overall retail design. Where a product is placed on the shelves has implications
for purchase likelihood as a result of visibility and access. Products placed too high or too low on the shelves may not turn over as
quickly as those placed at eye level.[99] With respect to access, store designers are increasingly giving consideration to access for
disabled and elderly customers.

Through sensory stimulation retailers can engage maximum emotional impact

between a brand and its consumers by relating to both profiles; the goal and
experience. Purchasing behavior can be influenced through the physical evidence
detected by the senses of touch, smell, sight, taste and sound.[100] Supermarkets
offer taste testers to heighten the sensory experience of brands. Coffee shops allow
the aroma of coffee to waft into streets so that passers-by can appreciate the smell
and perhaps be lured inside. Clothing garments are placed at arms' reach, allowing
customers to feel the different textures of clothing.[100] Retailers understand that
when customers interact with products or handle the merchandise, they are more
likely to make a purchase.

Within the retail environment, different spaces may be designed for different
purposes. Hard floors, such as wooden floors, used in public areas, contrast with
carpeted fitting rooms, which are designed to create a sense of homeliness when
Navigational floor signs are
trying on garments. Peter Alexander, retailer of sleep ware, is renowned for using commonly used in complex
scented candles in retail stores. environments such as shopping
malls and department stores
Ambient conditions, such as lighting, temperature and music, are also part of the
overall retail environment.[101] It is common for a retail store to play music that
relates to their target market. Studies have found that "positively valenced music will stimulate more thoughts and feeling than
negatively valenced music", hence, positively valenced music will make the waiting time feel longer to the customer than negatively
valenced music.[102] In a retail store, for example, changing the background music to a quicker tempo may influence the consumer to
move through the space at a quicker pace, thereby improving traffic flow.[103] Evidence also suggests that playing music reduces the
negative effects of waiting since it serves as a distraction.[104] Jewellery stores like Michael Hill have dim lighting with a view to
fostering a sense of intimacy.

The design of a retail store is critical when appealing to the intended market, as this is where first impressions are made. The overall
servicescape can influence a consumers perception of the quality of the store, communicating value in visual and symbolic ways.
.[105]
Certain techniques are used to create a consumer brand experience, which in the long run drives store loyalty

Shopper profiles
Two different strands of research have investigated shopper behaviour. One strand is primarily concerned with shopper motivations.
Another stream of research seeks to segment shoppers according to common, shared characteristics. To some extent, these streams of
research are inter-related, but each stream offers different types of insights into shopper behaviour
.

Babin et al. carried out some of the earliest investigations into shopper motivations and identified two broad motives: utilitarian and
hedonic. Utilitarian motivations are task-related and rational. For the shopper with utilitarian motives, purchasing is a work-related
task that is to be accomplished in the most efficient and expedient manner. On the other hand, hedonic motives refer to pleasure. The
shopper with hedonic motivations views shopping as a form of escapism where they are free to indulge fantasy and freedom. Hedonic
[106]
shoppers are more involved in the shopping experience.

Many different shopper profiles can be identified. Retailers develop customised segmentation analyses for each unique outlet.
However, it is possible to identify a number of broad shopper profiles. One of the most well-known and widely cited shopper
typologies is that developed by Sproles and Kendal in the mid-1980s.[107][108][109] Sproles and Kendall's consumer typology has
been shown to be relatively consistent across time and across cultures.[110][111] Their typology is based on the consumer's approach
to making purchase decisions.[112]
 Quality conscious/Perfectionist: Quality-consciousness is characterised by a consumer s search for the very best
quality in products; quality conscious consumers tend to shop systematically making more comparisons and
shopping around.
Brand-conscious: Brand-consciousness is characterised by a tendency to buy expensive, well-known brands or
designer labels. Those who score high on brand-consciousness tend to believe that the higher prices are an
indicator of quality and exhibit a preference for department stores or top-tier retail outlets.
Recreation-conscious/ Hedonistic: Recreational shopping is characterised by the consumer s engagement in the
purchase process. Those who score high on recreation-consciousness regard shopping itself as a form of
enjoyment.
Price-conscious: A consumer who exhibits price-and-value consciousness. Price-conscious shoppers carefully
shop around seeking lower prices, sales or discounts and are motivated by obtaining the best value for money
Novelty/fashion-conscious: characterised by a consumers tendency to seek out new products or new experiences
for the sake of excitement; who gain excitement from seeking new things; they like to keep up-to-date with fashions
and trends, variety-seeking is associated with this dimension.
Impulsive: Impulsive consumers are somewhat careless in making purchase decisions, buy on the spur of the
moment and are not overly concerned with expenditure levels or obtaining value. Those who score high on impulsive
dimensions tend not to be engaged with the object at either a cognitive or emotional level.
Confused (by over-choice): characterised by a consumers confusion caused by too many product choices, too
many stores or an overload of product information; tend to experience information overload.
Habitual / brand loyal: characterised by a consumers tendency to follow a routine purchase pattern on each
purchase occasion; consumers have favourite brands or stores and have formed habits in choosing; the purchase
decision does not involve much evaluation or shopping around.
Some researchers have adapted Sproles and Kendall's methodology for use in specific countries or cultural groups.[113] Consumer
decision styles are important for retailers and marketers because they describe behaviours that are relatively stable over time and for
this reason, they are useful for market segmentation.

Types of retail outlets

A marketplace is a location where goods and services are exchanged. The traditional market square is a city square where traders set
up stalls and buyers browse the stores. This kind of market is very old, and countless such markets are still in operation around the
whole world.

In some parts of the world, the retail business is still dominated by small family-run stores, but this market is increasingly being taken
over by large retail chains. Most of these stores are called high street stores. Gradually high street stores are being re-grouped in
condensed geographical areas along specific streets or districts such as the Magnificent Mile in Chicago, Illinois or at single locations
called malls. These are more defined and planned spaces for retail stores and brands.

In Britain and Europe, the retail sale of goods is designated as a service activity. The European Service Directive applies to all retail
trade including periodic markets, street traders and peddlers.

Retail type by product

Retailers may be classified by the type of product carried:

Food retailers

Retailers carrying highly perishable foodstuffs such as meat, dairy and fresh produce typically require cold storage facilities.
Consumers purchase food products on a very regular purchase cycle e.g. daily
, weekly or monthly.

Softline retailers[114][115]

Softline retailers sell goods that are consumed after a single use, or have a limited life (typically under three years) in they are
normally consumed. Soft goods includeclothing, other fabrics, footwear, toiletries, cosmetics, medicines and stationery.

Grocery and convenience retail

Grocery stores, including supermarkets and hypermarkets, along with convenience stores carry a mix of food products and
consumable household items such as detergents, cleansers, personal hygiene products. Consumer consumables are collectively known
as fast-moving-consumer goods (FMCG) and represent the lines most often carried by supermarkets, grocers and convenience stores.
For consumers, these are regular purchases and for the retailer, these products represent high turnover product lines. Grocery stores
and convenience stores carry similar lines, but a convenience store is often open at times that suit its clientele and may be located for
ease of access.

Hardline retailers

Retailers selling consumer durables are sometimes known as hardline retailers[116] automobiles, appliances, electronics, furniture,
sporting goods, lumber, etc., and parts for them. Goods that do not quickly wear out and provide utility over time. For the consumer,
these items often represent major purchase decisions. Consumers purchase durables over longer purchase decision cycles. For
instance, the typical consumer might replace their family car every 5 years, and their home computer every 4 years.

Specialist retailers

Specialist retailers operate in many industries such as the arts e.g. green grocers, contemporary art galleries, bookstores, handicrafts,
musical instruments, gift shops.

Types of retailers by product type

Furniture and Food retailer A Fruit Food retail includes Kaaswereld, a specialist
homewares retailers are shop in Naggar, charcuteries, butcheries, cheese store in the
said to be hardline Himachal Pradesh, India delicatessens, green Netherlands
retailers. Pictured groceries, provedores
Furniture retailer in Hong etc.
Kong

Stores that sell Stores that sell a mix of A store that retails a mix An art gallery is a
consumables are known perishable and of household needs and specialist retailer
as softline retailers consumable goods to is open long hours is a
cater for household convenience store
needs are known as
grocery stores
Retail types by marketing strategy
Types of retailers by marketing strategy include:

Arcade

A shopping arcade refers to a group of retail outlets operating under a covered

walkway. Arcades are similar to shopping malls, although they typically comprise a
smaller number of outlets. Shopping arcades were the evolutionary precursor to the
shopping mall, and were very fashionable in the late nineteenth century. Stylish men
and women would promenade around the arcade, stopping to window shop, making
purchases and also taking light refreshments in one of the arcade's tea-rooms.
Arcades offered fashionable men and women opportunities to 'be seen' and to
socialise in a relatively safe environment. Arcades continue to exist as a distinct type
of retail outlet. Historic nineteenth century arcades have become popular tourist
attracations in cities around the world. Amusement arcades, also known as penny
arcades in the US, are more modern incarnation of the eighteenth and nineteenth
century shopping arcade.

Bazaar

The term, 'bazaar' can have multiple meanings. It may refer to a Middle-Eastern
market place while a 'penny bazaar' refers to a retail outlet that specialises in The Block Arcade, Melbourne, first
inexpensive or discounted merchandise. In the United States a bazaar can mean a opened in 1892 and is now a
heritage listed shopping arcade
"rummage sale" which describes a charity fundraising event held by a churche or
other community organization and in which either donated used goods are made
available for sale.

Boutique

A Boutique is a small store offering a select range of fashionable goods or

accessories. The term, 'boutique', in retail and services, appears to be taking on a
broader meaning with popular references to retail goods and retail services such as
boutique hotels, boutique beers (i.e. craft beers), boutique investments etc.[117]
[[File:Inside a new Officeworks store.jpg|thumb|Australia's Officeworks is a Marks & Spencer Original Penny
category killer, retailing everything for the home office or small commercial office Bazaar, Yorkshire 2013
stationery, furniture, electronics, communications devices, copying, printing and
photography services, coffee, tea and light snacks]]

Category killer

By supplying a wide assortment in a single category for lower prices a category killer retailer can "kill" that category for other
retailers.[118] A category killer is a specialist store that dominates a given category. Toys "R" Us, established in 1957, is thought to be
the first category killer, dominating the children's toys and games market.[119] For a few categories, such as electronics, home
hardware, office supplies and children's toys, the products are displayed at the centre of the store and a sales person will be available
to address customer queries and give suggestions when required. Rival retail stores are forced to reduce their prices if a category
killer enters the market in a given geographic area. Examples of category killers include Toys "R" Us and Australia's Bunnings
(hardware, DIY and outdoor supplies) and Officeworks (stationery and supplies for the home office and small office). Some category
killers redefine the category. For example, Australia's Bunnings began as a hardware outlet, but now supplies a broad range of goods
for the home handyman or small tradesman, including kitchen cabinetry, craft supplies, gardening needs and outdoor furniture.
Similarly Officeworks straddles the boundary between stationery supplies, office furniture and digital communications devices in its
quest to provide for all the needs of the retail consumer and the small, home of
fice.
Chain store

Chain store is one of a series of stores owned by the same company and selling the
same or similar merchandise.[120] Chain stores aim to benefit from volume buying
discounts and achieve cost savings through economies of scope (e.g. centralised
warehousing, marketing, promotion and administration) and pass on the cost savings
in the form of lower prices.

Concept store The Apple concept store in San

Francisco immerses consumers in
Concept stores are similar to specialty stores in that they are very small in size, and
the Apple user experience with 6K
only stock a limited range of brands or a single brand. They are typically operated by Video Wall, user stations, free wi-fi,
the brand that controls them. Example: L'OCCITANE en Provence. The limited size tech desk and more
and offering of L'OCCITANE's stores is too small to be considered a specialty store.
However, a concept store goes beyond merely selling products, and instead offers an
immersive customer experience built around the way that a brand fits with the customer's lifestyle.[121] Examples include Apple's
concept stores, Kit Kat's concept store in Japan.

Co-operative store

A co-operative store; also known as a co-op or coop, is a venture owned and operated by consumers to meet their social, economic
and cultural needs.[122]

Convenience store

A convenience store provides limited amount of merchandise at above average prices with a speedy checkout. This store is ideal for
.[123]
emergency and immediate purchaseconsumables as it often operates with extended hours, stocking every day

Department store

Department stores are very large stores offering an extensive assortment of both
"soft" and "hard" goods which often bear a resemblance to a collection of specialty
stores. A retailer of such store carries a variety of categories and has a broad
assortment of goods at moderate prices. They offer considerable customer
service.[124]

Destination store
A department store has multiple
A destination store is one that customers will initiate a trip specifically to visit, floors and multiple spaces and is
sometimes over a large area. These stores are often used to "anchor" a shopping mall said to be an 'elaborate'
or plaza, generating foot traffic, which is capitalized upon by smaller retailers.[125] servicescape'

Demographic

Retailers that aim at one particular segment (e.g., high-end retailers focusing on wealthy individuals or niche market).

Discount store

Discount stores tend to offer a wide array of products and services, but they compete mainly on price. They offer extensive
assortments of merchandise at prices lower than other retailers and are designed to be affordable for the market served. In the past,
retailers sold less fashion-oriented brands. However, in more recent years companies such as TJX Companies (Own T.J. Maxx and
Marshalls) and Ross Stores are discount store operations increasingly offering fashion-oriented brands on a larger scale.[126]

E-tailer
The customer can shop and order through the internet and the merchandise is
dropped at the customer's doorstep or an e-tailer. In some cases, e-retailers use drop
shipping technique. They accept the payment for the product but the customer
receives the product directly from the manufacturer or a wholesaler. This format is
ideal for customers who do not want to travel to retail stores and are interested in
home shopping.[127]

Hawkers

Hawkers also known as a peddler, costermonger or street vendor; is a vendor of Discount department store Target,
merchandise that is readily portable. Hawkers typically operate in public places such Charters Towers, North Queensland,
as streets, squares, public parks or gardens or near the entrances of high traffic Australia
venues such as zoos, music and entertainment venues.[128] Hawkers are a relatively
common sight across Asia.

Hypermarkets

A hypermarket (also known as hypermart) provides variety and huge volumes of

exclusive merchandise at low margins. The operating cost is comparatively less than
other retail formats; may be defined as a combined supermarket and discount store,
at least 200000 square feet (18580 square meters) or larger, that sells a wide variety
of food and general merchandise at a low price.[129]

General Store at Scarsdale, Victoria,

General store
Australia
A general store is a store that supplies the main needs of the local community and is
often located in outback or rural areas with low population densities. In areas of very
low population density, a general store may be the only retail outlet within hundreds of miles. The general store carries a very broad
product assortment from foodstuffs and pharmaceuticals through to hardware and fuel. In addition, a general store may provide
essential services such as postal services, banking services, news agency services and may also act as an agent for farm equipment
and stock-food suppliers.[130]

Mall

A shopping mall has a range of retail shops at a single outlet. Retail outlets can
include food and entertainment, grocery, electronics and fashion located under one
roof. Malls provide 7% of retail revenue in India, 10% in Vietnam, 25% in China,
28% in Indonesia, 39% in the Philippines, and 45% in Thailand.[131] Malls are
typically managed by a central management/ marketing authority which ensures that
the mall attracts the right type of retailer and an appropriate retail mix.

Mom-and-Pop store

A small retail outlet owned and operated by an individual or family. Focuses on a

relatively limited and selective set of products.

Pop-up retail store

A Pop-up retail store is a temporary retail space that opens for a short period of time,
possibly opening to sell a specific run of merchandise or for a special occasion or
holiday period. The key to the success of a pop-up is novelty in the A shopping mall in Helsinki
merchandise.[132]
Retail market

retail market is defined as the retail sales of all products, packed and unpacked where the sale is to end users.[133] Globally, different
terms may be used to refer to a retail market. For instance, in the Middle East, a market place may be known asbazaar
a or souq/souk

Specialty store

A specialty (BE: speciality) store has a narrow marketing focus either specializing
on specific merchandise, such as toys, footwear, or clothing, or on a target audience,
such as children, tourists, or plus-size women.[134] Size of store varies some
specialty stores might be retail giants such as Toys "R" Us, Foot Locker, and The
Body Shop, while others might be small, individual shops such as Nutters of Savile
Row.[134] Such stores, regardless of size, tend to have a greater depth of the
specialist stock than general stores, and generally offer specialist product knowledge
valued by the consumer. Pricing is usually not the priority when consumers are A store in Brazil specialises in a
single product; walnuts
deciding upon a specialty store; factors such as branding image, selection choice,
and purchasing assistance are seen as important.[134] They differ from department
stores and supermarkets which carry a wide range of merchandise.[135]

Supermarket

A supermarket is a self-service store consisting mainly of grocery and limited

products on non-food items.[136] They may adopt a Hi-Lo or an EDLP strategy for
pricing. The supermarkets can be anywhere between 20,000 and 40,000 square feet
(3,700 m2). Example: SPAR supermarket.

Variety store
Inside a supermarket inRussia
Variety stores offer extremely low-cost goods, with a vast array of selection. The
.[137]
downfall to this is that the items are not very high quality

Vending machine

A vending machine is an automated piece of equipment wherein customers can drop

the money in the machine which dispenses the customer's selection. The vending
machine is a pure self-service option. Machines may carry a phone number which
customers can call in the event of a fault.[138]

Some stores take a no frills approach, while others are "mid-range" or "high end",
depending on what income level they target.

Warehouse club

Warehouse clubs are membership-based retailers that usually sell a wide variety of
merchandise, in which customers may buy large, wholesale quantities of the store's
products, which makes these clubs attractive to both bargain hunters and small
business owners. The clubs are able to keep prices low due to the no-frills format of
the stores. In addition, customers may be required to pay annual membership fees in
order to shop.[139]
Nescaf vending machine
Warehouse store

Warehouse stores are retailers housed in warehouses, and offer low-cost, often high-quantity goods with minimal services, e.g. goods
are piled on pallets or steel shelves.[140]
Other retail types
Other types of retail store include:

Automated retail stores self-service, robotic kiosks located in airports, malls and grocery stores. The stores accept
credit cards and are usually open 24/7. Examples includeZoomShops and Redbox.
Big-box stores encompass larger department, discount, general merchandise, and warehouse stores.
Second-hand retail
Some shops sell second-hand goods. In the case of a nonprofit shop, the public donates goods to the shop to be sold. In give-away
shops goods can be taken free.

Pawnbrokers Another form is thepawnshop, in which goods are sold that were used as collateral for loans. There
are also "consignment" shops, which are where a person can place an item in a store and if it sells, the person gives
the shop owner a percentage of the sale price. The advantage of selling an item this way is that the established shop
gives the item exposure to more potential buyers.E-tailers like OLX and Quikr also offer second-hand goods.
Retailers can opt for a format as each provides different retail mix to its customers based on their customer demographics, lifestyle
and purchase behaviour. A good format will lenda hand to display products well and entice the tar
get customers to spawn sales.

Global top ten retailers

China is currently the largest retail market in the world.[141]

Worldwide top ten retailers[142]

2015 Number of countries
Country revenue
Rank Company Dominant format 2015 of operation 2015
of origin ($US
million)

1 Walmart United $482,130 Hypermarket/Supercenter/Superstore 30

States

2 Costco United $116,199 Cash & Carry/Warehouse Club 10

States

3 Kroger United $109,830 Supermarket 1

States
Schwarz
4 Gruppe $94,448 Discount Store 26
Germany
(Lidl)

5 Walgreens United $89,631 Drug Store/Pharmacy 10

States

The Home
6 United $88,519 Home Improvement 4
Depot
States

7 Carrefour $84,856 Hypermarket/Supercenter/Superstore 35

France

8 Aldi $82,164 Discount Store 17

Germany

9 Tesco United $81,019 Hypermarket/Supercenter/Superstore 10

Kingdom

10 Amazon United $79,268 Non-Store 14

States
Competition
Retail stores may or may not have competitors close enough to affect their pricing, product availability, and other operations. A 2006
survey found that only 38% of retail stores in India believed they faced more than slight competition.[143] Competition also affected
less than half of retail stores in Kazakhstan, Bulgaria, and Azerbaijan. In all countries the main competition was domestic, not
foreign.[144]

Country % of retail stores facing competition[145]

India 38%
Kazakhstan 44%
Bulgaria 46%
Azerbaijan 48%
Uzbekistan 58%
Armenia 58%
Georgia 59%
Kyrgyzstan 59%
Russia 62%
Belarus 64%
Croatia 68%
Romania 68%
Ukraine 72%
Turkey 73%
Serbia 74%
Tajikistan 74%
Slovenia 77%
Latvia 78%
Bosnia and Herzegovina 79%
Moldova 79%
Czech Republic 80%
Slovakia 80%
Poland 83%
Hungary 87%
Estonia 88%
Lithuania 88%
Macedonia 88%
Albania 89%

.[146]
Retail trade provides 9% of all jobs in India and 14% of GDP

Challenges
To achieve and maintain a foothold in an existing market, a prospective retail establishment must
overcome the following hurdles:

Regulatory barriers including

 Restrictions on real estate purchases, especially as imposed bylocal governments and against "big-box" chain
retailers;
Restrictions on foreign investment in retailers, in terms of both absolute amount of financing provided and
percentage share of voting stock e( .g., common stock) purchased;
Unfavorable taxation structures, especially those designed to penalize or keep out "big box" retailers (see
"Regulatory" above);
Absence of developed supply chain and integrated IT management;
High competitiveness among existing market participants and resulting lowprofit margins, caused in part by

Constant advances in product design resulting in constant threat of product obsolescence and price declines for
existing inventory; and
Lack of properly educated and/or trained work force, often including management, caused in part by loss in
Business.

Lack of educational infrastructureenabling prospective market entrants to respond to the above challenges.

Statistics for national retail sales

United States
The United States retail sector features the largest number of large, lucrative retailers in the world. A 2012 Deloitte report published
in STORES magazine indicated that of the world's top 250 largest retailers by retail sales revenue in fiscal year 2010, 32% of those
[147]
retailers were based in the United States, and those 32% accounted for 41% of the total retail sales revenue of the top 250.

Since 1951, the U.S. Census Bureau has published the Retail Sales report every
month. It is a measure ofconsumer spending, an important indicator of the US GDP.
Retail firms provide data on the dollar value of their retail sales and inventories. A
sample of 12,000 firms is included in the finalsurvey and 5,000 in the advanced one.
The advanced estimated data is based on a subsample from the US CB complete
retail & food services sample.[148]

Central Europe
U.S. Monthly Retail Sales, 1992
In 2011, the grocery market in six countries of Central Europe was worth nearly
2010
107bn, 2.8% more than the previous year when expressed in local currencies. The
increase was generated foremost by the discount stores and supermarket segments,
and was driven by the skyrocketing prices of foodstuffs. This information is based on the latest PMR report entitled Grocery retail in
Central Europe 2012[149]

World
National accounts show a combined total of retail and wholesale trade, with hotels and restaurants. in 2012 the sector provides over a
fifth of GDP in tourist-oriented island economies, as well as in other major countries such as Brazil, Pakistan, Russia, and Spain. In
all four of the latter countries, this fraction is an increase over 1970, but there are other countries where the sector has declined since
1970, sometimes in absolute terms, where other sectors have replaced its role in the economy. In the United States the sector has
declined from 19% of GDP to 14%, though it has risen in absolute terms from $4,500 to $7,400 per capita per year. In China the
sector has grown from 7.3% to 11.5%, and in India even more, from 8.4% to 18.7%. Emarketer predicts China will have the largest
retail market in the world in 2016.[150]

In 2016, China became the largest retail market in the world.[141]

 Retail trade, wholesale, hotels and restaurants (data from the United
Nations)[151]
As % of As % of 1970 value per 2012
Economy GDP, GDP, capita (2012 value per
1970 2012 prices) capita
Afghanistan 13.1 8.4 $140 $58
Albania 11.5 22.5 $188 $858
Algeria 17.3 11.9 $572 $639
Andorra 40.5 26.5 $17,532 $10,915
Angola 12.6 15.0 $513 $839
Anguilla 33.9 27.8 $2,166 $5,577
Antigua and
26.4 26.8 $1,081 $3,540
Barbuda
Argentina 15.4 15.7 $1,041 $1,825
Armenia 15.2 $510
Aruba 26.9 19.1 $1,140 $4,757 The two largest supermarkets chains
in Switzerland, Migros and Coop, are
Australia 11.4 11.7 $3,736 $7,960 cooperatives.
Austria 17.4 18.8 $3,281 $8,782
Azerbaijan 9.0 $668
Bahamas 28.0 24.5 $5,335 $5,299
Bahrain 12.5 6.4 $3,046 $1,478
Bangladesh 15.9 15.1 $61 $124
Barbados 26.1 24.3 $2,879 $3,890
Belarus 16.8 $1,127
Belgium 12.9 14.2 $2,606 $6,189
Belize 17.0 20.3 $297 $972
Benin 17.7 17.4 $89 $131
Bermuda 17.6 11.2 $8,907 $9,648
Bhutan 8.2 8.2 $30 $205
Bolivia 9.1 11.1 $168 $286
Bosnia and
17.9 $807
Herzegovina
Botswana 9.2 16.8 $60 $1,206
Brazil 16.4 21.3 $756 $2,413
British Virgin
19.7 27.2 $2,178 $8,821
Islands
Brunei
1.0 3.7 $495 $1,536
Darussalam
Bulgaria 14.6 13.8 $272 $966
Burkina Faso 14.9 14.2 $46 $92
Burundi 8.1 18.9 $16 $43
Cambodia 16.6 14.5 $86 $137
Cameroon 27.0 20.4 $270 $245
Canada 13.6 13.0 $3,586 $6,788
Cape Verde 24.5 18.7 $269 $718
Cayman Islands 12.0 12.2 $3,544 $7,175
Central African
14.0 13.5 $100 $65
Republic
Chad 20.5 12.6 $122 $103
Chile 14.9 11.7 $780 $1,801
China 7.3 11.5 $20 $700
China: Hong
19.1 29.3 $1,197 $10,772
Kong SAR
China: Macao
8.0 14.9 $592 $11,629
SAR
Colombia 13.0 12.4 $439 $959
Comoros 26.2 14.5 $232 $125
Congo 13.2 5.4 $256 $185
Cook Islands 13.7 39.6 $1,069 $5,912
Costa Rica 19.9 16.3 $805 $1,531
Croatia 15.4 $2,012
Cuba 18.4 15.2 $432 $959
Cyprus 13.6 18.8 $958 $4,975
Czech Republic 13.2 $2,429
Czechoslovakia
8.0 $127
(Former)
Democratic
Republic of North 11.7 18.3 $231 $107
Korea
Democratic
Republic of the
Congo
Denmark 20.5 15.5 $6,169 $8,708
Djibouti 45.0 18.6 $1,470 $294
Dominica 9.6 15.0 $163 $1,046
Dominican
17.2 18.7 $270 $1,073
Republic
Ecuador 8.3 12.6 $195 $713
Egypt 11.0 14.4 $75 $454
El Salvador 22.6 21.2 $534 $804
Equatorial
6.4 0.9 $56 $185
Guinea
Eritrea 19.4 $98
Estonia 14.0 $2,432
Ethiopia 18.6 $84
Ethiopia (Former) 8.4
Fiji 8.3 18.6 $216 $848
Finland 12.3 13.3 $2,268 $6,103
France 14.8 15.0 $2,969 $5,933
French Polynesia 14.7 16.1 $2,142 $4,212
Gabon 28.1 12.1 $2,918 $1,787
Gambia 27.1 28.8 $143 $147
Georgia 18.9 $685
Germany 12.2 11.4 $2,273 $4,736
Ghana 5.3 10.9 $58 $175
Greece 19.6 20.2 $2,469 $4,527
Greenland 14.0 10.5 $2,219 $4,326
Grenada 18.2 12.3 $294 $913
Guatemala 17.5 21.6 $385 $720
Guinea 34.0 16.2 $132 $86
Guinea-Bissau 20.7 19.4 $124 $99
Guyana 18.9 15.1 $388 $543
Haiti 17.4 18.4 $168 $130
Honduras 17.2 17.1 $247 $399
Hungary 9.8 14.1 $531 $1,760
Iceland 11.3 11.0 $1,873 $4,585
India 8.4 18.7 $31 $283
Indonesia 17.7 13.9 $120 $494
Iran (Islamic
10.6 11.6 $473 $834
Republic of)
Iraq 8.2 6.4 $215 $290
Ireland 17.6 18.0 $2,293 $8,295
Israel 9.8 10.0 $1,346 $3,145
Italy 16.0 15.0 $2,755 $4,963
Ivory Coast 21.7 14.7 $353 $181
Jamaica 19.4 22.4 $1,056 $1,197
Japan 15.6 13.9 $3,004 $6,525
Jordan 17.9 10.1 $478 $445
Kazakhstan 16.8 $2,086
Kenya 6.8 13.2 $49 $125
Kiribati 12.4 8.6 $439 $150
Kosovo 18.1 $508
Kuwait 8.3 3.2 $13,693 $1,797
Kyrgyzstan 19.7 $233
Laos People's
14.2 20.3 $44 $278
DR
Latvia 17.9 $2,467
Lebanon 31.4 27.6 $2,829 $2,522
Lesotho 13.0 9.0 $46 $108
Liberia 11.1 5.0 $106 $18
Libya 2.8 4.9 $543 $763
Liechtenstein 19.9 17.8 $12,763 $28,361
Lithuania 19.9 $2,782
Luxembourg 13.8 13.4 $5,010 $14,141
Madagascar 8.7 11.0 $70 $49
Malawi 3.7 19.8 $10 $70
Malaysia 12.4 16.5 $229 $1,716
Maldives 29.8 30.8 $252 $2,373
Mali 7.3 16.2 $23 $112
Malta 28.7 15.8 $1,104 $3,238
Marshall Islands 24.5 16.1 $531 $607
Mauritania 2.1 7.1 $20 $72
Mauritius 10.0 19.3 $167 $1,782
Mexico 19.3 17.8 $1,063 $1,739
Micronesia 13.1 15.1 $219 $477
Monaco 39.1 30.3 $34,091 $46,027
Mongolia 21.4 11.9 $237 $439
Montenegro 22.6 $1,475
Montserrat 19.4 7.6 $1,051 $974
Morocco 22.5 12.4 $253 $365
Mozambique 12.7 17.6 $31 $102
Myanmar 25.9 20.1 $48 $226
Namibia 8.0 14.7 $326 $832
Nauru 14.8 16.8 $7,812 $2,014
Nepal 4.7 15.4 $14 $101
Netherlands 16.4 15.8 $3,702 $7,283
Netherlands
16.4 18.2 $1,417 $3,349
Antilles
New Caledonia 34.7 13.3 $9,624 $5,169
New Zealand 15.5 12.2 $3,607 $4,689
Nicaragua 15.3 16.5 $352 $289
Niger 10.6 14.1 $71 $56
Nigeria 14.6 15.9 $148 $247
Norway 16.7 8.5 $6,109 $8,521
Oman 1.7 7.7 $111 $1,822
Pakistan 18.8 20.6 $99 $248
Palau 16.3 31.2 $1,565 $3,200
Panama 16.8 19.6 $497 $1,864
Papua New 13.9 9.3 $243 $204
Guinea
Paraguay 18.3 19.9 $304 $771
Peru 14.2 18.6 $583 $1,271
Philippines 10.7 19.4 $153 $501
Poland 9.2 20.2 $398 $2,590
Portugal 13.7 19.6 $1,119 $3,926
Puerto Rico 16.7 9.4 $2,024 $2,635
Qatar 5.0 5.6 $5,647 $5,208
Korea, South 17.1 11.8 $345 $2,712
Moldova 17.8 $367
Romania 3.1 7.1 $73 $557
Russian
20.7 $2,934
Federation
Rwanda 9.9 15.7 $35 $97
Saint Kitts and
8.4 12.6 $256 $1,800
Nevis
Saint Lucia 20.6 23.4 $527 $1,707
Samoa 14.8 23.6 $312 $851
San Marino 15.8 12.9 $5,282 $7,643
Sao Tome and
25.5 26.2 $273 $363
Principe
Saudi Arabia 4.6 8.2 $799 $2,067
Senegal 22.7 20.4 $218 $207
Serbia 11.0 $582
Seychelles 32.7 29.4 $1,039 $3,285
Sierra Leone 12.9 7.6 $93 $55
Singapore 27.8 19.5 $2,008 $10,179
Slovakia 26.6 $4,470
Slovenia 14.4 $3,155
Solomon Islands 10.2 10.5 $121 $193
Somalia 9.3 10.6 $21 $14
South Africa 14.4 16.0 $847 $1,171
South Sudan 15.4 $143
Spain 15.1 21.4 $1,956 $6,060
Sri Lanka 14.5 20.8 $94 $586
St. Vincent and
12.6 16.5 $231 $1,045
the Grenadines
State of Palestine 16.7 18.4 $136 $448
Sudan 16.8 $232
Sudan (Former) 16.8 $0
Suriname 18.3 23.3 $915 $2,183
Swaziland 15.5 9.8 $197 $306
Sweden 12.1 12.8 $3,315 $7,056
Switzerland 19.9 17.8 $10,641 $14,080
Syrian Arab
20.4 22.7 $184 $482
Republic
Tajikistan 20.3 $193
Macedonia 16.5 $749
Thailand 24.3 18.0 $239 $1,039
Timor-Leste 4.0 $195
Togo 23.5 8.2 $195 $49
Tonga 12.7 14.6 $214 $646
Trinidad and
18.9 17.1 $1,323 $2,966
Tobago
Tunisia 11.7 13.5 $147 $558
Turkey 11.1 16.5 $437 $1,757
Turkmenistan 4.2 $274
Turks and Caicos
38.2 38.0 $1,557 $8,520
Islands
Tuvalu 9.5 11.2 $182 $451
Tanzania:
Mainland, see 15.0 15.8 $51 $96
also Zanzibar
Uganda 11.8 22.3 $50 $133
Ukraine 17.5 $679
United Arab
15.4 12.1 $24,122 $5,024
Emirates
United Kingdom 15.3 16.5 $2,662 $6,490
United States 19.0 14.5 $4,488 $7,436
Uruguay 12.9 16.5 $810 $2,419
USSR (Former) 8.1
Uzbekistan 9.9 $178
Vanuatu 18.2 21.4 $266 $651
Venezuela 9.5 16.4 $1,152 $2,099
Vietnam 12.9 16.8 $39 $289
Yemen 16.3 $224
Yemen Arab
Republic 13.7
(Former)
Yemen
Democratic 21.2
(Former)
Yugoslavia
10.4
(Former)
Zambia 12.6 15.0 $244 $229
Zanzibar 18.2 $119
Zimbabwe 14.9 10.7 $125 $77
Consolidation
Among retailers and retails chains a lot of consolidation has appeared over the last couple of decades. Between 1988 and 2010,
worldwide 40,788 mergers & acquisitions with a total known value of 2.255 trillion USD have been announced.[152] The largest
transactions with involvement of retailers in/from the United States have been: the acquisition of Albertson's Inc. for 17 bil. USD in
2006,[153] the merger between Federated Department Stores Inc with May Department Stores valued at 16.5 bil. USD in 2005[154]
now Macy's, and the merger between Kmart Holding Corp and Sears Roebuck & Co with a value of 10.9 bil. USD in 2004.[155]

See also
Consumer behaviour Retail concentration
Department store Retail design
Final goods Retail software
Grey pound Retailtainment
Hanseatic League Store manager
History of marketing Visual merchandising
List of department stores by country Licensed victualler
Point of sales Wardrobing
Types of sales person

Arabber Merchant
Costermonger Peddler
Hawker (trade) Street vendor
Huckster
Types of store or shop:

Anchor store Liquor store

State store Market (place)
Bazaar Mom and Pop
Big-box store Newsagent
Boutique Online shopping
Cash and carry (wholesale) Outlet store
Category killer Pet store
Chain store Pop-up retail
Confectionery store Shopping mall
Convenience store Souk or souq
Co-operative Specialist store
Consumers' co-operative Stand-alone store
Department store Specialty store
Discount store Store-within-a-store
Drive-through store Supermarket
General store Surplus store
Grocery store Survival store
Hardware store Toy store
Health food store Variety store
Hobby store Warehouse club
Hypermarket Warehouse store
Influential thinkers in sales and retail[156]

Dale Carnegie author and lecturer; proponent of salesmanship, public speaking and self-improvement
E. St. Elmo Lewis salesmen for NCR and developer of theAIDA model of selling
William Thomas Rawleigh-founder of Rawleigh's company with one of the largest travelling sales teams in the
United States
 Harry Gordon Selfridge founder of UK Selfridges; redefined shopping away from essential errand to a pleasurable
activity; was noted for introducing a touch of theatre and celebrity appearances to department stores; also wrote the
book, The Romance of Commercepublished in 1918.
Walter Dill Scott psychologist and author; wrote a number of books on the psychology of selling in the early
twentieth century
Thomas J. Watson -salesman at NCR and CEO of IBM; often described as the "greatest American salesman"

References
1. Harper, Douglas. "retail" (http://www.etymonline.com/?term=retail). Online Etymology Dictionary. Retrieved
2008-03-16.
2. Jones, Brian D. G.; Shaw, Eric H. (2006). "A History of Marketing Thought,"Handbook of Marketing.Weitz, Barton
A.; Wensley, Robin (eds), Sage, p. 41,ISBN 1-4129-2120-1.
3. Gharipour, M., "The Culture and Politics of Commerce," in The Bazaar in the Islamic City: Design, Culture, and
History, Mohammad Gharipour (ed.), New York, The American University in Cairo Press, 2012 p. 3
4. Bintliff, J., "Going to Market in Antiquity," In Stuttgarter Kolloquium zur Historischen Geographie des Altertums,
Eckart Olshausen and Holger Sonnabend (eds), Stuttgart, Franz Steiner , 2002, pp. 20950
5. Coleman, P., Shopping Environments,Elsevier, Oxford, 2006, p. 28
6. Shaw, Eric H. (2016). "2: Ancient and medieval marketing". In Jones, D.G. Brian; Tadajewski, Mark. The Routledge
Companion to Marketing History(https://books.google.com/books?id=zCZ-CwAAQBAJ) . Routledge Companions.
London: Routledge. p. 24.ISBN 9781134688685. Retrieved 2017-01-03. "Perhaps the only substantiated type of
retail marketing practice that evolved from Neolithic times to the present was the itinerant tradesman (also known as
peddler, packman or chapman). These forerunners of travelling salesmen roamed from village to village bartering
stone axes in exchange for salt or other goods (Dixon, 1975). "
7. Cartwright, M., "Trade in the Phoenician World," Ancient History Encyclopedia,1 April 2016, <Online:
http://www.ancient.eu/article/881>
8. Daniels (1996) pp. 9495.
9. Semitic script dated to 1800 BC(https://www.nytimes.com/library/national/science/111499sci-alphabet-origin.html)
10. Bintliff, J., "Going to Market in Antiquity," In Stuttgarter Kolloquium zur Historischen Geographie des Altertums,
Eckart Olshausen and Holger Sonnabend (eds), Stuttgart, Franz Steiner , 2002, p. 229
11. Paquet-Byrne, L., The Urge to Splurge: A Social History of Shopping,ECW Press, Toronto, Canada, 2003, pp. 23
25
12. ar, F., "The World of the Golden Ass,"Journal of Roman Studies,Vol. 71, 1981, pp. 6367
13. Southerton, D. (ed.), Encyclopedia of Consumer Culture,Thousand Oaks, CA, Sage, 2011 p. 888
14. Moore, K. and Reid., S., "The Birth of the Brand: 4000 years of Branding,"
Business History, Vol. 50, 2008. pp. 419
32.
15. Eckhardt, G.M. and Bengtsson. A. "A Brief History of Branding in China,"
Journal of Macromarketing,Vol, 30, no. 3,
2010, pp. 21021
16. Eckhardt, G.M. and Bengtsson. A. "A Brief History of Branding in China,"
Journal of Macromarketing,Vol, 30, no. 3,
2010, p. 212
17. Eckhardt, G.M. and Bengtsson. A. "A Brief History of Branding in China,"
Journal of Macromarketing,Vol, 30, no. 3,
2010, p. 219
18. Thrupp, S.L., The Merchant Class of Medieval London, 13001500,pp. 78
19. Pevsner, N. and Hubbard, E., The Buildings of England: CheshirePenguin, 1978, p. 170
20. Jones, P., Building Chester, Chapter 5
21. Keene, D. and Rumble, A.R.,Survey of Medieval Winchester, (Part 1), Oxford University Press, 1985, p. 578
22. Knight, C., London, Vol. 5 , 1841, Knight & Co, London, p. 132
23. Cox, N.C. and Dannehl, K.,Perceptions of Retailing in Early Modern England,Aldershot, Hampshire, Ashgate, 2007,
p. 155
24. Gazetteer of Markets and Fairs in England and Wales to 1516, The List and Index Society, no. 32, 2003, <Online:
http://www.history.ac.uk/cmh/gaz/gazweb2.html>
25. Mill, J.S., Principles of a Political Economy, London, Longman, 1909, Bk. I, Ch. II
26. Bintliff, J., "Going to Market in Antiquity," In Stuttgarter Kolloquium zur Historischen Geographie des Altertums,
Eckart Olshausen and Holger Sonnabend (eds), Stuttgart, Franz Steiner , 2002, p. 224
27. Rebecca M. Seaman (ed.).Conflict in the Early Americas: An Encyclopedia of the Spanish Empire's ..
(https://books.
google.com/books?id=IXKjAQAAQBAJ&pg=P A375) p. 375.
28. Dyer, C., Everyday Life in Medieval England,London, Hambledon and London, 1994, pp. 283303
29. Borsay, P. and Proudfoot, L., Provincial Towns in Early Modern England and Ireland: Change, Convergence and
Divergence, [The British Academy], Oxford University Press, 2002, pp. 6566
30. Casson, M. and Lee, J., "The Origin and Development of Markets: A Business History Perspective,"
Business
History Review, Vol 85, Spring, 2011, doi:10.1017/S0007680511000018(https://doi.org/10.1017%2FS00076805110
00018), p. 27
31. Braudel, F. and Reynold, S., The Wheels of Commerce: Civilization and Capitalism, 15th to 18th Century
, Berkely,
CA, University of California Press, 1992
32. The Spectator, 19 May 1711, The Spectator Project,
<Online:http://www2.scc.rutgers.edu/spectator/text/may1711/no69.html
>
33. Clerici, L., "Le prix du bien commun. T axation des prix et approvisionnement urbain (Vicence, XVIe-XVIIe sicle)"
[The price of the common good. Official prices and urban provisioning in sixteenth and seventeenth century iVcenza]
in I prezzi delle cose nellet preindustriale The
/ Prices of Things in Pre-Industrial Times, [forthcoming], Firenze
University Press, 2017.
34. Cox, N.C. and Dannehl, K.,Perceptions of Retailing in Early Modern England,Aldershot, Hampshire, Ashgate, 2007,
p,. 129
35. Cox, N.C. and Dannehl, K.,Perceptions of Retailing in Early Modern England,Aldershot, Hampshire, Ashgate, 2007,
p. 154
36. Cox, N.C. and Dannehl, K.,Perceptions of Retailing in Early Modern England,Aldershot, Hampshire, Ashgate, 2007,
pp. 15354
37. Cox, N.C. and Dannehl, K.,Perceptions of Retailing in Early Modern England,Aldershot, Hampshire, Ashgate, 2007,
pp. 15559
38. McKendrick, N., Brewer, J. and Plumb . J.H., The Birth of a Consumer Society: The Commercialization of Eighteenth
Century England, London, 1982.
39. Savitt, R., "Looking Back to See Ahead: Writing the History of American Retailing," inRetailing: The Evolution and
Development of Retailing,A. M. Findlay, Leigh Sparks (eds), pp. 13839
40. Lemoine, B., Les Passages Couverts, AAVP, 1997
41. Cited in: Woodward, R.B., "Making a Pilgrimage to Cathedrals of Commerce,"New York Times, 11 March 2007,
<Online: https://www.nytimes.com/2007/03/11/travel/11culture.html
42. Mitchell, I., Tradition and Innovation in English Retailing,1700 to 1850, Routledge, Oxon, p. 140
43. Byrne-Paquet, L., The Urge to Splurge: A Social History of Shopping,ECW Press, Toronto, Canada, pp. 9093
44. Byrne-Paquet, L., The Urge to Splurge: A Social History of Shopping,ECW Press, Toronto, Canada, pp. 9295
45. Mill, J.S., Principles of a Political Ecnonomy with some of their Applications to Social Philosophy
, 7th ed, London,
Longman, 1909, Section IV.7.53
46. Reshaping Retail: Why Technology is Transforming the Industry and How to Win in the New Consumer Dr
47. Koot, G.M.,"Shops and Shopping in Britain: from market stalls to chain stores," University of Dartmouth, 2011,
<Online: https://www1.umassd.edu/ir/resources/consumption/shopping.pdf >
48. See for example: Daly, Michael (2000-07-23)."King writes off publishers" (https://www.nydailynews.com/archives/ne
ws/king-writes-publishers-article-1.882647). New York Daily News. NYDailyNews.com. OCLC 9541172 (https://www.
worldcat.org/oclc/9541172). Retrieved 2017-01-04. "King's latest novel, "The Plant," will not be available here or any
other bookstore. You will only be able to get ti starting tomorrow in the paperless realm of cyberspace, at
www.stephenking.com. [...]Six months ago, [Stephen] King made $450,000 cyberpeddling a short story ."
49. Howard Moss, M., Shopping as an Entertainment Experience,Plymouth, Lexington Books, pp. 3539
50. Tsang, D., Kazeroony, H.H. and Ellis, G., The Routledge Companion to International Management Education,
London, Routledge, p. 120
51. "Pioneers in Marketing: Edward A. Filene, Lincoln Filene and Daniel Bloomfield,"
Journal of Marketing, Vol. 23, No.
3, 1959, pp. 296300
52. Stillman, Y., "Edward Filene: Pioneer of Social Responsibility
," Jewish Currents,September, 2004
53. Hevrde, J., "Montgomery Ward's First Catalog," Chicago Tribune, 31 January 2017, <Online:
Hevrdejshttp://www.chicagotribune.com/news/nationworld/politics/chi-chicagodays-firstcatalog-story-story
.html>
54. Byrne-Paquet, L., The Urge to Splurge: A Social History of Shopping,ECW Press, Toronto, Canada, p. 83
55. Johanson, S., Bunnings Shifts Focus as it Upsizes Store Network,The Age, 3 June 2015 <Online:
http://www.theage.com.au/business/bunnings-shifts-focus-as-it-upsizes-store-network-2>
56. Wahba, Phil (15 June 2017). "The Death of Retail is Greatly Exaggerated".Fortune (Print magazine). p. 34.
57. Wetherell, S., "The Shopping Malls Socialist Pre-History," Jacobin Magazine, 4 August 2014 <Online:
https://www.jacobinmag.com/2014/04/the-last-shopping-mall>/
58. Volpato, G. and Stocchetti, A., "Old and newapproaches to marketing: The quest of their epistemological roots,"
MPRA Paper No. 30841, 2009, <Online:https://mpra.ub.uni-muenchen.de/30841>, p. 34
59. Lambda, A.J., The Art Of Retailing, McGraw-Hill, (2003), 2008, pp. 31526
60. Yu-Jia, H. (2012). The Moderating Effect of Brand Equity and the Mediating Effect of Marketing Mix Strategy On the
Relationship Between Service Quality and Customer Loyalty . International Journal or Organizational Innovation, 155-
162.
61. Monash University, Dictionary, https://business.monash.edu/marketing/marketing-dictionary/r/retail-mix
62. Berens, J.S., "The Marketing Mix, the Retailing Mix and the Use of Retail Strategy Continua,"
Proceedings of the
1983 Academy of Marketing Science (AMS),[Part of the series Developments in Marketing Science], pp. 32327
63. Lamb, C.W., Hair, J.F. and McDaniel, C., MKTG 2010, Mason, OH, Cengage, pp. 19394
64. Business Dictionary, http://www.businessdictionary.com/definition/product-assortment.html
65. Broniarczyk, S.M., "Product Assortment," inHandbook of Consumer Psychology, 2006
66. Barry Berman, "5 Ways Retailers Can MakeMore Profit By Reducing Product Assortment & Managing Websales
Like Costco Does," 20 November 2012,http://upstreamcommerce.com/blog/2012/11/20/5-ways-retailers-profit-
reducing-product-assortment-managing-websales-costco
67. Lambda, A.J., The Art Of Retailing, McGraw-Hill, New Dehli, 2008, pp. 351411
68. Lambda, A.J., The Art Of Retailing, McGraw-Hill, (2003), 2008, p. 267
69. Philip H. Mitchell 2008,Discovery-Based Retail, Bascom Hill Publishing GroupISBN 978-0-9798467-9-3
70. "Customer Service: Why it is important | business.gov
.au" (http://www.business.gov.au/business-topics/selling-produ
cts-and-services/customers/Pages/customer-service.aspx) . www.business.gov.au. Retrieved 2015-09-30.
71. http://www.business.gov.au/business-topics/selling-products-and-services/customers/Pag
es/customer-service.aspx
72. Segal, D., "Retail Trade Area Analysis: Concepts and New Approaches,"Directions Magazine, n.d. <Online:
http://www.directionsmag.com/entry/retail-trade-area-analysis-concepts-and-new-approaches/129766>
73. Dibb, S., Simkin, L., Pride, W.C. and Ferrell, O.C.,Marketing: Concepts and Strategies,Cengage, 2013, Chapter 12
74. Nagle, T., Hogan, J. and Zale, J.,The Strategy and Tactics of Pricing: A Guideto Growing More Profitably, Oxon,
Routledge, 2016, p. 1 and 6
75. Brennan, R., Canning, L. and McDowell, R.,Business-to-Business Marketing,2nd ed., London, Sage, 2011, p. 331
76. Neumeier, M., The Brand Flip: Why customers now run companies and how to profit from it (V
oices That
Matter),2008, p. 55
77. Irvin, G., Modern Cost-Benefit Methods,Macmillan, 1978, pp. 13760
78. Barr, A., "PayPal Deepens Retail Drive in Discover Payments Deal,"Technology News. 22 August 2012, <Online:
https://en.wikipedia.org/w/index.php?title=Retail&action=edit&section=16#
79. CNBC, "Somebody tell Jared: This Subway T
akes Bitcoins," 18 November 2013,
https://www.cnbc.com/2013/11/18/somebody-tell-jared-this-subway-takes-bitcoins.html
80. Rao, V.R. and Kartono, B., "Pricing Strategies and Objectives: A Cross-cultural Survey
," in Handbook of Pricing
Research in Marketing,Rao, V.R. (ed), Northampton, MA, Edward Elgar, 2009, p. 15
81. Hoch, S.J., Dreze, X. and Purk, M., "EDLP
, Hi-Lo, and Margin Arithmetic",The Journal of Marketing,Volume 58,
Number 4, 1994, pp. 1627
82. Hoch, S.J., Dreze, X. and Purk, M. E., "EDLP
, Hi-Lo, and Margin Arithmetic",The Journal of Marketing,Volume 58,
Number 4, 1994, pp. 1627
83. Kaufmann, P., "Deception in retailer high-low pricing: A 'rule of reason' approach,"Journal of Retailing, Volume 70,
Issue 2, 1994, pp. 1151383.
84. Guiltnan, J.P., "The Price Bundling of Services,"Journal of Marketing, April, 1987
 85. Livesay, F., Promotional Pricing, Macmillan, 1976, pp. 7782
86. Poundstone, W., Priceless: The Myth of Fair Value (and How to Take Advantage of It), NY, Hill and Wang, 2011, pp.
184200
87. Steven Greenhouse (27 October 2012)."A Part-Time Life, as Hours Shrink and Shift"(https://www.nytimes.com/201
2/10/28/business/a-part-time-life-as-hours-shrink-and-shift-for-american-workers.html)
. The New York Times.
Retrieved 28 October 2012.
88. HEE, Kim Jin (2015). "Social Behavior & Personality: an international journal".
Social Behavior & Personality: an
international journal.
89. Cant, M.C. and van Heerden, C.H.,Personal Selling, Juta Academic, 2008, p. 176
90. Percy, L., Strategic Integrated Marketing Communications,Oxford, Butterworth-Heinemann, 2008, p. 84
91. Percy, L., Strategic Integrated Marketing Communications,Oxford, Butterworth-Heinemann, 2008, p. 87
92. "The Impact of Retail Servicescape on Buying Behaviour
," BVIMSR s Journal of Management Research,Vol 6, No.
2, 2014, pp. 1017
93. Smith, B., & Francis, D. (2002). Store design that sells. Hardware Merchandising, 4246.
94. Wakefield, L. K. and Blodgett, G. J., "The Effect of the Servicescape on Customers Behav
ioral Intentions in Leisure
Service Settings," The Journal of Services Marketing,Vol. 10, No. 6, pp. 4561.
95. Hall, C.M. and Mitchell, R.,Wine Marketing: A Practical Guide,p. 182
96. "Interior Design Tips: 6 Steps to Design Your Retail Shop," Retail Shop Design, <Online:
https://retailshopdesign.com.sg/interior-design-tips-retail-design-layout
>
97. Zeithaml, V. A., Bitner, M. J. and Gremler, D. D., Services Marketing: Integrating Customer Focus Across the Firm,
5th ed., Boston, MA, McGraw Hill, 2009
98. Aghazadeh, S., "Layout Strategies for Retail Operations: A Case Study
, " Management Research News,Vol. 28, no.
10, 2005, pp. 3146
99. Hall, C.M. and Mitchell, R.,Wine Marketing: A Practical Guide,pp. 18283
100. Bailey, P. (2015, April). Marketing to the senses: A multisensory strategy to align the brand touchpoints. Admap, 2-7.
101. Bailey, P. (2015, April). Marketing to the senses: A multi sensory strategy to align the brand touchpoints., 2-7.
102. Hul, Michael K.; Dube, Laurette; Chebat, Jean-Charles (1997-03-01)."The impact of music on consumers' reactions
to waiting for services" (http://www.sciencedirect.com/science/article/pii/S0022435997900166). Journal of Retailing.
73 (1): 87104. doi:10.1016/S0022-4359(97)90016-6(https://doi.org/10.1016%2FS0022-4359%2897%2990016-6) .
103. Bitner, M.J. (1992). "Servicescapes: The impact of physical surroundings on customers and employees"
(https://ww
w.jstor.org/stable/1252042?seq=2#page_scan_tab_contents) . The Journal of Marketing: 5771.
104. Hul, M.K., Dube, L. and Chebat, J-C., " The impact of music on consumers' reactions to waiting for services,"
Journal
of Retailing, Vol. 73, no. 1, 1997, pp. 87104
105. (Kazancoglu & Dirsehan, 2014 )
106. "Work and/or Fun: Measuring Hedonic and Utilitarian Shopping Value," Journal of Consumer Research,Vol. 20, no.
4, pp. 64456, 1994, doi:10.1086/209376 (https://doi.org/10.1086%2F209376), <Online:
https://www.researchgate.net/publication/24098851_Work_andor_Fun_Measuring_Hedonic_and_Utilitarian_Shopping_V alue
107. Durvasula, S., Lysonski, S. and Andrews, J.C. (1993), Cross-cultural generalizability of a scale for profiling
consumers decision-making styles,The Journal of Consumer Affairs, Vol. 27 No. 1, pp. 5565
108. Sproles, G.B. (1985), From perfectionism to fadism: measuring consumers decision-making styles, in
Schnittgrund, K.P. (Ed.), American Council on Consumer Interests (ACCI), Conference Proceedings
, Columbia, MO,
pp. 7985.
109. Sproles, G. B. (1983). Conceptualisation and measurement of optimal consumer decision making.
Journal of
Consumer Affairs, Vol. 17 No. 2, pp. 42138.
110. Mishra, A., "Consumer innovativeness and consumer decision styles: a confirmatory and segmentation analysis,"
The International Review of Retail, Distribution and Consumer Research
, Vol. 25, no. 1, 2015 Online:
https://dx.doi.org/10.1080/09593969.2014.911199
111. Jain, R. and Sharma, A., "A Review on Sproles & Kendall's Consumer Style Inventory (CSI) for Analyzing Decision
Making Styles of Consumers,"Indian Journal of Marketing, Vol. 43, no. 3, 2013
112. Sproles, G. B., & Kendall, E. L., "A methodology for profiling consumers' decision-marking styles,"
Journal of
Consumer Affairs, Vol., 20 No. 2, 1986, pp. 26779
113. Bauer, H. H., Sauer, N. E., and Becker, C., "Investigating the relationship between product involvement and
consumer decision-making styles,"Journal of Consumer Behaviour. Vol. 5, 2006 342354.
114. Ferrara, J. Susan. "The World of Retail: Hardlines vs. Softlines"(http://www.valueline.com/Tools/Educational_Article
s/Stocks/The_World_of_Retail__Hardlines_vs__Softlines.aspx). Value Line. Retrieved 22 May 2014.
115. Time, Forest. "What is Soft Merchandising?"(http://smallbusiness.chron.com/soft-merchandising-26175.html)
.
Houston Chronicle. Retrieved 22 May 2014.
116. "hard goods" (http://www.investorwords.com/2282/hard_goods.html). Investor Words. Retrieved 22 May 2014.
117. https://www.merriam-webster.com/dictionary/boutique
118. Merriam-Webster Dictionary Online,https://www.merriam-webster.com/dictionary/category%20killer
119. Greenfeld, K.T., Time, 19 October 1998
120. Merriam-Webster Dictionary Online:https://www.merriam-webster.com/dictionary/chain%20store
121. "Rethinking why Brands are Embracing the Concept Store,"The Guardian, 9 July 2014
<https://www.theguardian.com/media-network/media-network-blog/2014/jul/09/retail-brands-concept-store-
shopping>
122. Cambridge English Dictionary Online:http://dictionary.cambridge.org/us/dictionary/english/cooperative-store
123. Dictionary.com: http://www.dictionary.com/browse/convenience-store
124. Business Dictionary Online:http://www.businessdictionary.com/definition/department-store.html
125. Business Dictionary Online:http://www.businessdictionary.com/definition/destination-store.html
126. Business Dictionary Online:http://www.businessdictionary.com/definition/discount-store.html
127. The Free Dictionary Online:http://www.thefreedictionary.com/e-tailer
128. Oxford Dictionary Online:https://en.oxforddictionaries.com/definition/hawker
129. Collins Dictionary Online:https://www.collinsdictionary.com/us/dictionary/english/hypermart
130. Merriam-Webster Dictionary, https://www.merriam-webster.com/dictionary/general%20store
131. Retail Realty in India: Evolution and Potential(http://www.indiaretailing.com/uploads/Market_Research_pdf/Retail-Re
alty-in-India-Evolution-and-Potential.pdf)(PDF). Jones Lang LaSalle. 2014. p. 6.
132. Gregory, S., "Why Pop-Up Shops Are Hot,"Time Magazine,
http://www.time.com/time/business/article/0,8599,1935030,00.html
133. Financial Dictionary Online,http://financial-dictionary.thefreedictionary.com/retail+market
134. Charles Lamb; Joe Hair; Carl McDaniel (14 Jan 2008).Essentials of Marketing(https://books.google.com/books?id=
9Kf_O1eI0J4C&pg=PA363). Cengage Learning. p. 363.
135. William M Pride; Robert James Hughes; Jack R. Kapoor (2011).Business. Cengage Learning. ISBN 978-
0538478083.
136. Merriam-Webster Dictionary, https://www.merriam-webster.com/dictionary/supermarket
137. Merriam-Webster Dictionary, https://www.merriam-webster.com/dictionary/variety%20store
138. Business Dictionary Online,http://www.businessdictionary.com/definition/vending-machine.html
139. Economic Times (Definitions), http://economictimes.indiatimes.com/definition/warehouse-clubs
140. Cambridge Dictionary, http://dictionary.cambridge.org/us/dictionary/english/warehouse-store
141. "China Eclipses the US to Become the World's Largest Retail Market eMarketer"(https://www.emarketer.com/Articl
e/China-Eclipses-US-Become-Worlds-Largest-Retail-Market/1014364). www.emarketer.com.
142. "2017 Top 250 Global Retailers"(https://nrf.com/2017-global-250-chart). Retrieved 26 April 2017.
143. Mohammad Amin (2007).Competition and Labor Productivity in Indias Retail Stores, p. 1 (http://www-wds.worldban
k.org/external/default/WDSContentServer/WDSP/IB/2008/11/23/000333037_20081123235324/Rendered/PDF/4656
80WP0Box331C10Competition1Labor.pdf) (PDF). World Bank. p. 57.
144. Mohammad Amin (2007).Competition and Labor Productivity in Indias Retail Stores, p. 30 (http://www-wds.worldba
nk.org/external/default/WDSContentServer/WDSP/IB/2008/11/23/000333037_20081123235324/Rendered/PDF/465
680WP0Box331C10Competition1Labor.pdf) (PDF). World Bank. p. 57.
145. Competition and Labor Productivity in Indias Retail Stores, p.30.
146. Competition and Labor Productivity in Indias Retail Stores, p. 1.
147. Deloitte, Switching Channels: Global Powers of Retailing 2012
, STORES, January 2012, G20.
148. US Census Bureau (http://www.census.gov/retail/index.html)Retail sales Retail Sales (http://www.forexmotion.com/i
ndex.php/en/macroeconomic-reports/142.html?ruta=retail.xml)Archived (https://web.archive.org/web/201107110203
29/http://www.forexmotion.com/index.php/en/macroeconomic-reports/142.html?ruta=retail.xml)2011-07-11 at the
Wayback Machine. Retail Sales Definition (http://www.mypivots.com/Investopedia/Details/329/retail-sales)
149. Grocery retail in Central Europe 2012Retail in Central Europe(http://www.pmrpublications.com/product/Grocery-reta
il-Central-Europe-2012)
150. Millward, Steven (18 August 2016)."Asia's ecommerce spending to hit record $1 trillion this year but most of that is
China" (https://www.techinasia.com/asia-ecommerce-spending-1-trillion-dollars-2016). Tech in Asia. Retrieved
18 August 2016.
151. "UN National Accounts Main Aggregates Database"(http://unstats.un.org/unsd/snaama/dnlList.asp)
. UN Statistics
Division. December 2013. Retrieved 16 May 2014.
152. "Statistics on Mergers & Acquisitions (M&A) M&A Courses | Company aluationV Courses | Mergers & Acquisitions
Courses" (https://web.archive.org/web/20120106045040/http://www .imaa-institute.org/statistics-mergers-acquisition
s.html). Imaa-institute.org. Archived fromthe original (http://www.imaa-institute.org/statistics-mergers-acquisitions.ht
ml#M&A_Ind_Retail) on 2012-01-06. Retrieved 2012-11-02.
153. "SuperValu-CVS group buys Albertson's for $17B" (http://www.bizjournals.com/phoenix/stories/2006/01/23/daily2.ht
ml). Phoenix Business Journal. January 2006. Retrieved 9 July 2014.
154. "Federated and May Announce Merger; $17 billion transaction to create value for customers, shareholders" (http://ph
x.corporate-ir.net/phoenix.zhtml?c=84477&p=irol-newsArticle&ID=679294&highlight=). Phx.corporate-ir.net. 28 Feb
2005. Retrieved 2012-11-02.
155. "Kmart Finalizes Transaction With Sears"(http://searsholdings.com/press-releases/pr/1249)
. Searsholdings.com. 29
September 2004. Retrieved 2012-11-02.
156. The names cited in this section are based on the names of retailers cited insang,
T D., Kazeroony, H.H. and Ellis, G.,
The Routledge Companion to International Management Education,Oxon, Routledge, 2013, pp. 11920

Further reading
Adburgham, A., Shopping in Style: London from the Restoration to Edwardian Elegance, Thames and Hudson,
London, 1979
Feinberg, R.A. and Meoli, J., "A Brief History of the Mall", inAdvances in Consumer Research,Volume 18, Rebecca
H. Holman and Michael R. Solomon (eds), Provo, UT: Association for Consumer Research, 1991, pp. 42627
<Online: http://acrwebsite.org/volumes/7196/volumes/v18/NA-18 >
Hollander, S.C., "Who and What are Important in Retailing and Marketing History: A Basis for Discussion," in S.C.
Hollander and R. Savitt (eds)First North American Workshop on Historical Research in Marketing,Lansing, MI:
Michigan State University, 1983, pp. 3540.
Jones, F., "Retail Stores in the United States,18001860," Journal of Marketing, October, 1936, pp. 13540
Krafft, Manfred; Mantrala, Murali K., eds. (2006). Retailing in the 21st Century: Current and Future rTends. New
York: Springer Verlag. ISBN 3-540-28399-4.
Kowinski, W.S., The Malling of America: An Inside Look at the Great Consumer Paradise, William Morrow, New York,
1985
MacKeith, M., The History and Conservation of Shopping Arcades,Mansell Publishing, 1986
Nystrom, P.H., "Retailing in Retrospect and Prospect," in H.G. W ales (ed.) Changing Perspectives in Marketing,
Urbana: University of Illinois Press, 19951, pp. 11738.
Stobard, J., Sugar and Spice: Grocers and Groceries in Provincial England, 1650-1830, Oxford University Press,
2016

External links
Media related to Retail at Wikimedia Commons
ECRoPEDIA Free Global Collection of Retail/FMCG Best practices by ECR Community
Investopedia.The Industry Handbook: The Retailing Industry
National Retail Federation(U.S.-based trade association)

Retrieved from "https://en.wikipedia.org/w/index.php?title=Retail&oldid=809455665

"
This page was last edited on 9 November 2017, at 05:57.

Text is available under theCreative Commons Attribution-ShareAlike License ; additional terms may apply. By using this
site, you agree to the Terms of Use and Privacy Policy. Wikipedia is a registered trademark of theWikimedia
Foundation, Inc., a non-profit organization.