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types of service retailers

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Share Your PDF File To learn more about this important group, access their website at www(dot)fmi(dot)org. For example, a retailer that specialises in getting the consumer a product or service in the most convenient way possible could be classified as a convenience retailer. Shoppers’ Stop has many sections such as jewelry, cosmetics and perfumes, garments, in ladies garments — Indian wear and Western wear, etc. Each product has a price tag. (1) They require huge amount of investment. All the relevant information about the products such as price, features, delivery terms etc. McDonald’s, for example, is a franchisor. Retailers of goods deal with the tangible products. It offers a wide variety of general products. Considering Indian scenario, we can classify retail shops as: Corner Shops (typically Indian pan-bidi shops), General Stores, Specialty Stores, One-price Shops, Street Stalls, Exhibition Stalls, Hawkers and Peddlers, Small Stall Holders, etc. It is owned by a single proprietor, two or more partners or a family. We now take an overview of the some basic legal forms of ownership for retailers: The vast majority of small businesses start out as sole proprietorships. Limited-line stores are food discounters that offer a small selection of products at low prices. Piggly Wiggly was the first self-service store (opened in 1916); the first supermarket was King Kullen Grocery Company in New York (1930). This helps in lots of savings. Store-Based Retailing 2. By reducing the costs associated with these functions, the chains can, once again, pass the savings on to their customers in the form of lower product and service prices. They too work on a low margin compared to other retailers. The main advantage of franchising to franchisees is that each owner (franchisee) can own and operate his or her own business with a smaller capital outlay than would be possible without joining the franchise team. Specialty Stores, Catalogue Showrooms, and Supermarkets are examples of limited lines. They change their place of business after some time. They have more operating costs than the self-service and self- selection retail stores. However, mobile retailers, hawkers or peddlers do not have a fixed location for the retailing activities. Retailing may be both a small scale and a large scale operation; and it may be integrated and non-integrated. Discount stores generally offer limited customer services but have merchandise priced below that of department stores. Examples– (i) Bata, (ii) McDonald, (iii) Big Apple, (iv) Reebok, (v) Reliance Fresh, and (vi) Adidas. Market Traders 5. Owners of convenience stores locate in neighbourhoods and try to intercept consumers between their homes and places of employment. Superstores are food-based retailers that are larger than the traditional supermarket and carry expanded service dell, bakery, seafood, and nonfood sections. Major forms of non-store retailing are mail order selling, automatic vending and personal selling on a door-to-door basis. An example of a wholesale- sponsored cooperative is Blooming Prairie (www(dot)bpcoop(dot)com), which has been distributing natural foods throughout the Midwest since 1974. Macy’s, Nordstrom, Bloomingdale’s, Saks Fifth Avenue, J.C. Penney, and Dillard’s are some of the larger department stores. Product or Service 2. In addition, they offer more customer service than their general merchandise competitors. (iv) These encourage the habit of ‘self-help’ in the customers. Specialty Store is an example of single line. The net result is a blurring of the retail channels.” Nevertheless, there are general categories into which food retailers fall. Finally, the franchises gets specialised training in the functional areas of retail operations, such as advertising (IMC), retail information systems (RIS), inventory control procedures, employee/managerial development and training ;and the right to exclusivity in selling the national or regional product or service. (v) Heavy Expenditure on Sales Promotion – Due to sound financial position, they can afford to spend liberally on promotion. B2B – Business to business. Our mission is to provide an online platform to help students to discuss anything and everything about Economics. To remain competitive in the mature food retail business, many retailers are carrying merchandise outside their traditional lines. Technology also allows chains to link directly with suppliers and have merchandise shipped when it falls below a given level. There are stores like this in India which include ‘Akberally’ in Mumbai and ‘Spencers’ in Chennai. Variety of Product Sold 5. There is some overlap among the types of retailers that exist and also some differences in the way they are classified. FMI conducts programs in research, education, industry relations, and public affairs on behalf of its member companies-food retailers and wholesalers. Wal-Mart is the nation’s leading discounter with 2001 annual sales of $220 billion, followed by Target ($39 billion) and Kmart ($37 billion). A leased department consists of space in a larger retail store (such as J.C. Penney) that is rented to an outside vendor. They deal in consumer goods of daily use as well as services such as repairs of watches, shoes etc. You have probably thought of 7-Eleven, Stop-and-Go, or perhaps even Sheetz or Loaf-and-jug. 1. Due to this, customers are satisfied and they carry favourable image about the store as they get the personal attention and right product. Non-store retailing is gaining more attention as it eliminates the cost of a store. There are many types of food retailers. Super centers developed based on the European hypermarket, an extremely large retailing facility that offers many types of products in addition to foods. Some retailers offer in-store pick (ship to store) or delivery to the consumer’s home (home delivery). For example, ATM, PCO Coin Boxes, etc. The types of retailers can be studied under the following heads:- 1. This trend continues. They are located in central place in each locality. In comparison to other types of retailers franchisors’ networks grow rapidly with few capital and managerial resources, while franchisees gain ‘instant’ expertise as well as a large market presence. Self Service Store 17. The key to a successful super centre is sales of food products at very low prices to stimulate customer traffic and sales of nonfood items with higher markups. Aldi is an example of a successful limited-line retailer. are available. They may be classified – (a) General merchandise stores (such as department stores, dry goods stores, variety stores, and general stores) dealing in furniture, home furnishings, appliances, household goods, groceries, drugs, convenience goods and shopping goods; (b) single-line stores, dealing in assorted group of products (such as grocery stores, furniture stores, medical stores, building material stores, hardware stores, sporting goods stores, cloth stores and book stores); they may also carry two related lines, such as men’s and women’s clothing; (c) Limited-line or specialty stores, which carry a limited variety of products such as shopping or convenience goods — apparel, shoes, gifts and decorative accessories selling stores. Thus, risk of staleness is minimised. (iii) They provide better services as compared with those provided by the itinerant to the customers such as providing guarantees, credit facilities and home delivery etc. They are no-frills stores that sell products out of boxes (or shippers). There are different alternatives for receiving payments from the customers. Convenience stores (also called c-stores) carry a very limited assortment of products and are housed in small facilities.

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Taylor B. Jones

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