Ch 10: Retail Innovation: Opportunities & Threats

About This Chapter

Boosting your grades or studying for a test that covers the opportunities and threats of retail innovation is simple using this engaging chapter. Review fun lessons and take short quizzes to strengthen your knowledge of these concepts in a short amount of time.

Retail Innovation: Opportunities & Threats - Chapter Summary

This chapter offers an entertaining examination of retail innovation. Study the opportunities found in retail along with risks and threats of failure. Our engaging lessons take a close look at concepts like experiential consumption, non-store retailing and the direct-to-consumer sales model. Also, look at how businesses use demographic data and predict success for upcoming retail products. As you review each lesson, feel free to check your comprehension of concepts covered by taking the accompanying quizzes. If you develop questions, don't hesitate to submit them to our subject-matter experts. These resources are accessible 24 hours a day via your computer or mobile device of choice. When you're finished with this chapter, you will be able to:

  • Explain how retail opportunities arise from demographic shifts
  • Define experiential consumption and share examples of successes and failures in retail
  • List types and trends in non-store retailing
  • Differentiate between services and merchandise retailing
  • Detail the history and trends of the direct-to-consumer sales model
  • Describe rules and steps of successful retail innovation
  • Identify risks and rewards of retail innovation

7 Lessons in Chapter 10: Retail Innovation: Opportunities & Threats
Test your knowledge with a 30-question chapter practice test
Predicting Success for Upcoming Retail Products

1. Predicting Success for Upcoming Retail Products

Predicting your business' future success involves understanding customer need, completing competition analysis and utilizing your strengths. In this lesson, you'll learn more about predicting future success and identifying areas of threat and opportunity.

How Do Businesses Use Demographic Data?

2. How Do Businesses Use Demographic Data?

Businesses have all sort of tricks to help them remain profitable, and one of the best is demographics. Explore how businesses use demographics, and test your understanding with a brief quiz.

Experiential Consumption: Definition & Example

3. Experiential Consumption: Definition & Example

What causes us to purchase certain products? Do we buy products because of how they make us feel? In this lesson we will learn how our emotions are often the reason why we buy certain products.

Non-Store Retailing: Types, Trends & Examples

4. Non-Store Retailing: Types, Trends & Examples

Most individual consumers purchase products through retailers. Physical 'brick and mortar' stores are not the only type of retailing in the marketplace. In this lesson, you'll learn about retailing beyond traditional retail stores.

Services Retailing: Definition & Difference from Merchandise Retailers

5. Services Retailing: Definition & Difference from Merchandise Retailers

In this lesson, we will learn about some of the qualities that differentiate service retailers from merchandise retailers including intangibility, simultaneous production and consumption, perishability, and inconsistency of the offering to customers.

Direct to Consumer Sales Model: History, Trends & Examples

6. Direct to Consumer Sales Model: History, Trends & Examples

Some brands are moving away from retailer partnerships to sell directly to consumers. In this lesson, you'll learn more about this model, what it may look like and some examples of brand doing it.

Successful Retail Innovation: Rules & Steps

7. Successful Retail Innovation: Rules & Steps

In business, profitability is king. Becoming profitable, however, requires some work. In this lesson, you'll learn more about some rules your business can follow for successful retail innovation.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.

Support