Specialties

  • Motor Vehicle and Parts Dealers
  • Furniture and Home Furnishings Stores
  • Electronics and Appliance Stores
  • Building Material and Garden Equipment and Supplies Dealers
  • Food and Beverage Stores
  • Health and Personal Care Stores
  • Gasoline Stations
  • Clothing and Clothing Accessories Stores
  • Sporting Goods, Hobby, Book, and Music Stores
  • General Merchandise Stores
  • Nonstore Retailers

Retailing consists of the sale of goods or merchandise from a fixed location, such as a department store or kiosk, or by post, in small or individual lots for direct consumption by the purchaser. Retailing may include ancillary services, such as delivery.

Purchasers may be individuals or businesses. Retailers are at the end of the supply chain. As such, manufacturing marketers see the process of retailing as a necessary part of their overall distribution strategy.

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

Retailers typically gravitate to one of three primary strategies – low cost provider, customer intimate, or specialized products. Each strategy implies a variety of tactics necessary to complete the business model.

Low cost retailers must have efficient extended supply chain processes. Customer or market segment focused retailers need well-trained, well-informed customer-facing sales members on the floor. Product-oriented retailers need exceptional, forward-thinking buying teams, with abilities to spot early trends and anticipate future consumer interests.

High employee turnover impacts Human Resources processes perhaps more significantly in retail than in any other major industry segment.