Retail Business

Retailing is regarded as the fastest-growing segments of the economy. It is one of the nation’s largest employers that provide excellent business opportunities. Retailers offer varying types of goods and services such as food, auto parts, appliances, and electronics to advice, apparel, home furnishings, home improvement and skilled labour.

Store retailing – It involves independent shops, discount and off-price enterprises, department stores, conventional supermarkets, convenience stores, national and regional chains, membership warehouse clubs, category-killer stores, and other large-scale enterprises. The store retailers operate fixed point-of-sale locations which are designed for attracting a large number of walk-in customers. The Stores also have widespread merchandise displays and make use of mass-media advertising for attracting customers.

Retail Business Specialty retailing – The speciality retailers tend to sell "wants” rather than the needs. They target more on the richness of the shopping experience, neighbourhood convenience and inventory for meeting the requirements on a personalized basis of their targeted customers.

On-store retailing – There are many benefits of on store retailing. It does not keep high volume of inventory and the sale volume decides the next purchase order. These businesses are involved in the retail sale of products via television, paper and electronic catalogues, electronic shopping, in-home demonstration, door-to-door solicitation, and mail order.

Mail order- This type of retailing involves the usage of direct mail for sending the sales materials to thousands of potential customers for making a sale or generating a sales lead. Mail order enterprises comprises of general merchandise businesses and companies which sell specialty goods of all kinds, various types of clubs and novelty firms. The Catalogues are sent to consumers in most cases on a regular basis.

The internet – The internet has altered the retail landscape by connecting the companies, markets and individual consumers.

Vending machines – It is kind of Automatic merchandising and is a highly appealing business because of the low start-up costs, working capital and overhead.

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