Retailer or the retail store is a business enterprise where the product or service is placed to sell it to the end users for their personal use. There is a range of different ownership structures of retailing. Let’s have a look one by one:
1. Department Store:
Department store is a big organization with complex offerings of a wide range of products. It can be one company who is managing collective small retail stores. In this type of store, retailers are offering a various range of pricing. It offers a deep assortment of product where customers can get almost all the products under one roof.
2. Speciality Store:
As name stats itself, these stores are focused on only one product line with a deep assortment. Specialty retailers are selling a specific category of products. In this type of store, retailers are offering customer expert knowledge and high level of services with value-added services like selling related products in the same outlet.
3. Supermarket:
Usually, Supermarkets are the self-service store that offers a range of food and beverage products as well as household items. In the supermarket, products are properly assorted and placed in a specific manner for customer’s convenience. It is an advanced form of a grocery store. The aim of supermarkets is to offer the variety of items with low margin and with high volume sales.
4. Discount Store:
Discount Stores are self-service outlets with a range of products which offers low price or a huge discount on buying. Generally, discount retailer’s resale the end of the line and returned goods at discounted prices. Discount retailers are engaged in both hard and soft goods but with limited options and variety.
5. Warehouse Store:
Warehouse stores are large or medium stores in which goods are stocked and packaged in large quantity and sell it at lower than competitive prices.
6. Convenience Store:
These are the self-service stores usually located near to the residential area for customer’s convenience offering a narrow variety of products which fulfill daily essentials of people such as grocery, food, medicines etc. Convenience stores are open for long hours of time.
7. E-Tailer:
E-commerce businesses specially engaged in retailing are called as E-tailer. E-tailers are the retailers who sell their products on online shopping websites through the internet. These type of retailers are providing a home delivery of product to the customer.
8. Chain Store or Franchises:
Franchise or chain store is a retail business model where a retailer buys an ownership of a big brand with its rights to sell its product in the local area. Chain store brings together local ownership. The aim of this type of store to expand the business of one particular brand and to aware the people about the organization that they can conveniently purchase the product in the local market.
9. Malls and Shopping Store:
This is a modern concept of retailing where all the retail brands get together to sell their products under one roof of large center. This concept is getting very popular because of its deep assortment and variety of products at one place. Malls may include supermarkets and hypermarkets and specialty stores as well.
The above types of retailers or retail stores can be customized according to the circumstances to meet the demand of customers.
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