Retail

Retail

Macy's Herald Square, New York City.

Retail involves the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. Demand is identified and then satisfied through a supply chain. Attempts are made to increase demand through advertising. In the 2000s, an increasing amount of retailing began occurring online using electronic payment and delivery via a courier or via postal mail. Retailing as a sector includes subordinated services, such as delivery. The term "retailer" is also applied where a service provider services the small orders of a large number of individuals, rather than large orders of a small number of wholesale, corporate or government clientele. Shops may be on residential streets, streets with few or no houses, or in a shopping mall. 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 - protecting customers from various types of weather conditions such as extreme 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.

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 recreational activity. Recreational shopping often involves window shopping (just looking, not buying) and browsing: it does not always result in a purchase.

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] Like in French, the word retail in both Dutch and German also refers to the sale of small quantities of items.

Retail strategy

The retailing strategy is a marketing plan abstractly designed to offer its products and services in a way that will optimize customer satisfaction. Service quality and marketing mix strategy have significant and positive association on customer loyalty.^[2] The marketing strategy effectively outlines all key aspects of firms targeted audience; demographic and preference. Throughout 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 is designed to complement the retail strategy through theoretical tools such as the product, its quality and value, the promotions, place, and price.

Retail store design strategy

The design of a retail store is critical when appealing to its intended market, as this is where first impressions are made. It can influence a consumer’s perception of the quality of the store, visually communicating value. Certain techniques are used to create a consumer brand experience, which in the long run drives brand loyalty.^[3] The front of the store is paid close attention too, known as the “decompression zone" ^[4] This is usually an open space in the entrance of the store to allow customers to adjust to their new environment. An open planned floor design is effective in retail as it allows customers to see everything. Depending on what side of the road cars drive on in the country, determines what way the store will direct its customers. New Zealand retailer stores for instances would direct customers to the left. Brands are now recognizing that human nature has a conceptual profile and a sensory profile.^[5] Through the notions of sensory stimulation retailers can engage maximum emotional impact between a brand and its consumers by relating to both profiles; the goal and experience. By achieving so it can influence purchasing behavior maximizing outcomes. This is done through the relation of touch, smell, sight, taste and noise.^[5] It is common for a retailer store to play music that relates to their targeted market. Jewelry stores like Michel Hill have dim lighting to creating a sense of intimacy. Super markets offer taste testers. Clothing garments are at arms reach, allowing customers to feel the different textures of clothing. Wooden floors also contrast with the carpeted fitting rooms, which is designed to create a sense of homeliness when trying on garments. ‘Peter Alexandra’ is renowned for their scented candles. These aspects outlined add to the sensory experience put in place to strategically achieve customer satisfaction and retention. This will create future opportunity and help a brand stand out in amongst the competitive market.^[6]

Types of retail outlets

Fruit shop in Naggar, Himachal Pradesh, India

San Juan de Dios Market in Guadalajara, Jalisco

Inside a supermarket in Russia

Walnut Market in Katra, Jammu & Kashmir

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.

Types by products

Retail is usually classified by the following type of products:

• Food products — typically require cold storage facilities.
• Hard goods or durable goods ("hardline retailers")^[7] — automobiles, appliances, electronics, furniture, sporting goods, lumber, etc., and parts for them. Goods that do not quickly wear out and provide utility over time.
• Soft goods or consumables^[8][9] — clothing, other fabrics, footwear, toiletries, cosmetics, medicines and stationery. Goods that are consumed after one use or have a limited period (typically under three years) in which you may use them.
• Arts — contemporary art galleries, bookstores, handicrafts, musical instruments, gift shops, and supplies for them.

Types by marketing strategy

These are the following types of retailers by marketing strategy:

Discount department store Charters Towers, North Queensland, Australia

Department store

Department stores are very large stores offering a huge assortment of "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 an average price. They offer considerable customer service.

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 affordable and cut-rate prices. 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.

Warehouse store

Warehouses that offer low-cost, often high-quantity goods piled on pallets or steel shelves; warehouse clubs charge a membership fee.

Variety store

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

Demographic

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

Mom-And-Pop

A small retail outlet owned and operated by an individual or family. Focuses on a relatively limited and selective set of products.

Specialty store

A specialty (BE: speciality) store has a narrow marketing focus — either specializing on specific merchandise, such as toys, shoes, or clothing, or on a target audience, such as children, tourists, or plus-size women.^[10] 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.^[10] 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 deciding upon a specialty store; factors such as branding image, selection choice, and purchasing assistance are seen as important.^[10] They differ from department stores and supermarkets which carry a wide range of merchandise.^[11]

Boutique

Boutique or concept stores are similar to specialty stores. Concept stores are very small in size, and only ever stock one brand. They are run by the brand that controls them. An example of brand that distributes largely through their own widely distributed concept stores is L'OCCITANE en Provence. The limited size and offering of L'OCCITANE's stores are too small to be considered a specialty store proper.

General store

A general store is a rural store that supplies the main needs for the local community.

Convenience store

A convenience store provides limited amount of merchandise at more than average prices with a speedy checkout. This store is ideal for emergency and immediate purchase consumables as it often works with extended hours, stocking every day.

Hypermarkets

Provides variety and huge volumes of exclusive merchandise at low margins. The operating cost is comparatively less than other retail formats.

Supermarket

A supermarket is a self-service store consisting mainly of grocery and limited products on non food items. 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.

Mall

A shopping mall has a range of retail shops at a single outlet. They can include products, food and entertainment 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.^[12]

"Category killer" or specialist

By supplying wide assortment in a single category for lower prices a category killer retailer can "kill" that category for other retailers. For few categories, such as electronics, the products are displayed at the centre of the store and sales person will be available to address customer queries and give suggestions when required. Other retail format stores are forced to reduce the prices if a category specialist retail store is present in the vicinity.

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. Here the 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.

Vending machine

A vending machine is an automated piece of equipment wherein customers can drop the money in the machine and acquire the products. Some stores take a no frills approach, while others are "mid-range" or "high end", depending on what income level they target.

Other 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 include ZoomShops and Redbox.
• Big-box stores — encompass larger department, discount, general merchandise, and warehouse stores.

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 lend a hand to display products well and entice the target customers to spawn sales.

Global top ten retailers

Worldwide Top Ten Retailers[13]
Rank	Company	Country of Origin	2014 revenue ($US million)	Dominant format 2014	Number of countries of operation 2014
1	Walmart	United States	$485,651	Hypermarket/Supercenter/Superstore	28
2	Costco	United States	$112,640	Cash & Carry/Warehouse Club	10
3	Kroger	United States	$108,465	Supermarket	1
4	Lidl	Germany	$102,694	Discount Store	26
5	Tesco	United Kingdom	$99,713	Hypermarket/Supercenter/Superstore	13
6	Carrefour	France	$98,497	Hypermarket/Supercenter/Superstore	34
7	Aldi	Germany	$86,470	Discount Store	17
8	Metro AG	Germany	$85,570	Cash & Carry/Warehouse Club	32
9	The Home Depot	United States	$83,176	Home Improvement	4
10	Walgreens	United States	$76,392	Drug Store/Pharmacy	2

Operations

Retail pricing

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 the product by the manufacturer.

In Western countries, retail prices are often called psychological prices or odd prices. Often prices are fixed and displayed on signs or labels. Alternatively, when prices are not clearly displayed, there can be price discrimination, where the sale price is dependent upon who the customer is. For example, a customer may have to pay more if the seller determines that he or she is willing and/or able to. Another example would be the practice of discounting for youths, students, or senior citizens.

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.^[14] Competition also affected less than half of retail stores in Kazakhstan, Bulgaria, and Azerbaijan. In all countries the main competition was domestic, not foreign.^[15]

Country	% of retail stores facing competition[16]
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%

Retail trade provides 9% of all jobs in India and 14% of GDP.^[17]

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-time workers; as of 2012 70% of retail workers in the United States were part-time. 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.^[18]

Transfer mechanisms

There are several ways in which consumers can receive goods from a retailer:

• 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. jewelry) and controlled items like medicine and liquor. It was common before the 1900s in the United 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 by telephone was common in the 20th century, either from a catalog, newspaper, television advertisement or 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 consumer goods- especially those offered online- in a more timely fashion. Large online retailers such as Amazon.com are continually innovating and as of 2015 offer one-hour delivery in certain areas. They 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 for 3D printing also fits here, as do the media leasing types of services, such as streaming.

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 for free.

Another form is the pawnshop, 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,Quikr etc. also working on second hand goods sales.

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 by local 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 low profit 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 infrastructure enabling prospective market entrants to respond to the above challenges.

Sales techniques

Every retail store operates under the goal of overcoming the other competition in the market to create brand dominance and/or large profit. This is done by different sales techniques created and/or adopted by retailers. Techniques include hiring staff which are deemed attractive by the target demographic (Physical appearance, smell, sound and behavior all attribute to a persons attractiveness). other techniques include store location, somewhere easily visible with lots of traffic (Traffic can be but not limited to pedestrians or vehicles). Also stores create custom interior design to suit the stores personality and the target market. Some of the largest retailers spend millions on a stores marketing technique to invite customers in to spend their time and money. . As consumers have grown from the days of wandering in and buying goods or services just for the face value to being informed on products and how they are made companies focus on the values of society such as being sustainable or being fair trade approved. Conscious consumers are attracted by the stores morals of being righteous and thus creating a strong brand image that stands our from the competition. 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^[19]

A destination store is one that customers will initiate a trip specifically to visit, sometimes over a large area. These stores are often used to "anchor" a shopping mall or plaza, generating foot traffic, which is capitalized upon by smaller retailers.

Customer service

Customer service is the "sum of acts and elements that allow consumers to receive what they need or desire from your 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. When a customer enters the store, it is important that the sales associate does everything in his power to make the customer feel welcomed, important, and make sure he leaves the store satisfied. Giving the customer full, undivided attention and helping him find what he is looking for will contribute to the customer's satisfaction.^[20] For retail store owners, it is extremely important to train yourself and your staff to provide excellent customer service skills. By providing excellent customer service, you build a good relationship with the customer and eventually will attract more new customers and turn them into regular customers. Looking at long term perspectives, excellent customer skills give your retail business a good ongoing reputation and competitive advantage. Customer service is essential for several reasons.^[21] By exemplifying these valued qualities for a customer; companies utilize the experience the customer walks away with. Thus, setting the example for providing "great customer service." ^[22] An organization who trains their employees about properly servicing the customer will benefit more than those who do not. Customer service training entails about how properly servicing the customer will benefit corporations and businesses. This being said, it is important to establish a bond amongst customers-employees known as Customer relationship management.

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 retailers were based in the United States, and those 32% accounted for 41% of the total retail sales revenue of the top 250.^[23]

U.S. Monthly Retail Sales, 1992–2010

Since 1951, the U.S. Census Bureau has published the Retail Sales report every month. It is a measure of consumer 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 final survey 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.^[24]

Central Europe

In 2011, the grocery market in six countries of Central Europe was worth nearly €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^[25]

World

The two largest supermarkets chains in Switzerland, Migros and Coop, are cooperatives.

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.^[26]

Retail trade, wholesale, hotels and restaurants (data from the United Nations)^[27]

Economy	As % of GDP, 1970	As % of GDP, 2012	1970 Value per Capita (2012 Prices)	2012 Value per 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 Barbuda	26.4	26.8	$1,081	$3,540
Argentina	15.4	15.7	$1,041	$1,825
Armenia		15.2		$510
Aruba	26.9	19.1	$1,140	$4,757
Australia	11.4	11.7	$3,736	$7,960
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 Herzegovina		17.9		$807
Botswana	9.2	16.8	$60	$1,206
Brazil	16.4	21.3	$756	$2,413
British Virgin Islands	19.7	27.2	$2,178	$8,821
Brunei Darussalam	1.0	3.7	$495	$1,536
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 Republic	14.0	13.5	$100	$65
Chad	20.5	12.6	$122	$103
Chile	14.9	11.7	$780	$1,801
China	7.3	11.5	$20	$700
China: Hong Kong SAR	19.1	29.3	$1,197	$10,772
China: Macao SAR	8.0	14.9	$592	$11,629
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 (Former)	8.0		$127
Korea, North D.P.R.	11.7	18.3	$231	$107
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 Republic	17.2	18.7	$270	$1,073
Ecuador	8.3	12.6	$195	$713
Egypt	11.0	14.4	$75	$454
El Salvador	22.6	21.2	$534	$804
Equatorial Guinea	6.4	0.9	$56	$185
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 Republic of)	10.6	11.6	$473	$834
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 DR	14.2	20.3	$44	$278
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 Antilles	16.4	18.2	$1,417	$3,349
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 Guinea	13.9	9.3	$243	$204
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 Federation		20.7		$2,934
Rwanda	9.9	15.7	$35	$97
Saint Kitts and Nevis	8.4	12.6	$256	$1,800
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 Principe	25.5	26.2	$273	$363
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 the Grenadines	12.6	16.5	$231	$1,045
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 Republic	20.4	22.7	$184	$482
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 Tobago	18.9	17.1	$1,323	$2,966
Tunisia	11.7	13.5	$147	$558
Turkey	11.1	16.5	$437	$1,757
Turkmenistan		4.2		$274
Turks and Caicos Islands	38.2	38.0	$1,557	$8,520
Tuvalu	9.5	11.2	$182	$451
Tanzania: Mainland, see also Zanzibar	15.0	15.8	$51	$96
Uganda	11.8	22.3	$50	$133
Ukraine		17.5		$679
United Arab Emirates	15.4	12.1	$24,122	$5,024
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 (Former)	13.7
Yemen Democratic (Former)	21.2
Yugoslavia (Former)	10.4
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.^[28] 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,^[29] the merger between Federated Department Stores Inc with May Department Stores valued at 16.5 bil. USD in 2005^[30] - now Macy's, and the merger between Kmart Holding Corp and Sears Roebuck & Co with a value of 10.9 bil. USD in 2004.^[31]

See also

• Cash and carry (wholesale)
• Final goods
• List of department stores by country
• Marketplace
• Point of sales
• Retail concentration
• Retail design
• Retail software
• Shopping mall
• Specialist store
• Stand-alone store
• Store manager
• Visual merchandising
• Wardrobing

Types of store or shop:

• Anchor store
• Big-box store
• Boutique
• Chain store
• Confectionery store
• Convenience store
• Department store
• Discount store
• General store
• Grocery store
• Hardware store
• Health food store
• Hobby store
• Hypermarket
• Liquor store
• Mom and Pop
• Newsagent
• Online shopping
• Outlet store
• Pet store
• Pop-up retail
• Specialty store
• State store
• Store-within-a-store
• Supermarket
• Surplus store
• Survival store
• Toy store
• Variety store
• Warehouse club
• Warehouse store

References

1. Harper, Douglas. "retail". Online Etymology Dictionary. Retrieved 2008-03-16.
2. 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.
3. (Kazançcoglu & Dirsehan, 2014 )
4. Smith, B., & Francis, D. (2002). Store design that sells. Hardware Merchandising, 42-46.
5. Bailey, P. (2015, April). Marketing to the senses: A multisensory strategy to align the brand touchpoints. Admap, 2-7.
6. Bailey, P. (2015, April). Marketing to the senses: A multi sensory strategy to align the brand touchpoints., 2-7.
7. "hard goods". Investor Words. Retrieved 22 May 2014.
8. Ferrara, J. Susan. "The World of Retail: Hardlines vs. Softlines". Value Line. Retrieved 22 May 2014.
9. Time, Forest. "What is Soft Merchandising?". Houston Chronicle. Retrieved 22 May 2014.
10. Charles Lamb; Joe Hair; Carl McDaniel (14 Jan 2008). Essentials of Marketing. Cengage Learning. p. 363.
11. William M Pride; Robert James Hughes; Jack R. Kapoor (2011). Business. Cengage Learning. ISBN 978-0538478083.
12. Retail Realty in India: Evolution and Potential (PDF). Jones Lang LaSalle. 2014. p. 6.
13. "2016 Top 250 Global Retailers". Retrieved July 2016. Check date values in: |access-date= (help)
14. Mohammad Amin (2007). Competition and Labor Productivity in India’s Retail Stores, p.1 (PDF). World Bank. p. 57.
15. Mohammad Amin (2007). Competition and Labor Productivity in India’s Retail Stores, p.30 (PDF). World Bank. p. 57.
16. Competition and Labor Productivity in India’s Retail Stores, p.30.
17. Competition and Labor Productivity in India’s Retail Stores, p.1.
18. Steven Greenhouse (October 27, 2012). "A Part-Time Life, as Hours Shrink and Shift". The New York Times. Retrieved October 28, 2012.
19. HEE, Kim Jin (2015). "Social Behavior & Personality: an international journal". Social Behavior & Personality: an international journal.
20. Philip H. Mitchell 2008, Discovery-Based Retail, Bascom Hill Publishing Group ISBN 978-0-9798467-9-3
21. "Customer Service: Why it is important | business.gov.au". www.business.gov.au. Retrieved 2015-09-30.
22. http://www.business.gov.au/business-topics/selling-products-and-services/customers/Pages/customer-service.aspx
23. Deloitte, Switching Channels: Global Powers of Retailing 2012, STORES, January 2012, G20.
24. US Census Bureau Retail sales Retail SalesRetail Sales Definition
25. Grocery retail in Central Europe 2012 Retail in Central Europe
26. Millward, Steven (August 18, 2016). "Asia's ecommerce spending to hit record $1 trillion this year – but most of that is China". Tech in Asia. Retrieved August 18, 2016.
27. "UN National Accounts Main Aggregates Database". UN Statistics Division. December 2013. Retrieved 16 May 2014.
28. "Statistics on Mergers & Acquisitions (M&A) - M&A Courses | Company Valuation Courses | Mergers & Acquisitions Courses". Imaa-institute.org. Retrieved 2012-11-02.
29. "SuperValu-CVS group buys Albertson's for $17B". Phoenix Business Journal. January 2006. Retrieved 9 July 2014.
30. "Federated and May Announce Merger; $17 billion transaction to create value for customers, shareholders". Phx.corporate-ir.net. 28 Feb 2005. Retrieved 2012-11-02.
31. "Kmart Finalizes Transaction With Sears". Searsholdings.com. 29 September 2004. Retrieved 2012-11-02.

Further reading

• Krafft, Manfred; Mantrala, Murali K., eds. (2006). Retailing in the 21st Century: Current and Future Trends. New York: Springer Verlag. ISBN 3-540-28399-4.

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)