Retailing

Retailing

All the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use.

Retailer

A channel intermediary that sells mainly to consumers.

Independent retailer

A retailer owned by a single person or partnership and not operated as part of a larger retail institution.

Chain store

A store that is part of a group of two or more stores of the same brand, owned and operated by a single organization and handled by a central office.

Franchise

A relationship in which the business owner grants a business or person the right to operate under their brand name and business model.

Franchisor

The originator of a trade name, product, methods of operation, and the like that grants operating rights to another party to sell its products.

Franchisee

An individual or business that is granted the right to sell another party's product or service.

Gross margin

The amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted.

Department store

A retail store housing several departments under one roof, each department headed by a buyer, and each representing a distinct merchandise line.

Specialty store

A retail store specializing in a given type of merchandise or a narrow line of products.

Supermarket

A large, departmentalized, self

Drugstore

A retail store that stocks pharmacy

Convenience store

A miniature supermarket, carrying only a limited line of high

Discount store

A retailer that competes on the basis of low prices, high turnover, and high volume.

Full

line discount store

Specialty discount store

A retail store that offers a nearly complete selection of single

Warehouse club

A large, no

Off

price retailer

Factory outlet

An off

Restaurant

A retail establishment that provides both tangible products (food and drink) and valuable services (food preparation and service).

Nonstore retailing

Shopping without visiting a store, which includes automatic vending, direct retailing, direct marketing, and electronic retailing.

Automatic vending

The use of machines to offer goods for sale, which is a highly impersonal form of nonstore retailing.

Direct retailing

The sale of a consumer product or service a person

Direct marketing (DM)

Techniques used to get consumers to make a purchase from their home, office, or other nonretail setting.

Telemarketing

The use of the telephone to sell directly to consumers.

Direct mail

The delivery of advertising or marketing material to recipients of postal mail.

Shop

at

Online retailing (e

tailing)

Floor stock

Inventory that is displayed on the sales floor and is immediately accessible to customers.

Back store

The inventory storage area located behind the scenes or in the warehouse portion of a retail store.

Retailing mix

A combination of the six Ps—product, place, promotion, price, presentation, and personnel—to sell goods and services to the ultimate consumer.

Brand cannibalization

A situation that occurs when sales of a new product or a new store location cut into sales of a firm's existing products or locations.

Destination store

A retail store that consumers purposely plan to visit, often because of its unique selection, pricing, or status.

Layout

The internal configuration of a retail store's fixtures, fixtures, and products to guide customer flow and maximize sales.