About This Chapter
The Study of Retail - Chapter Summary
Work through this chapter at your own pace to gain a high-level overview of the retail field. The chapter's simple lessons examine the basics of retail competition theories, retail resource efficiency, retail channels, retailing methods and much more. The chapter comes with plenty of assessments to help you see how well you understand the study of retail. The chapter is available to study 24/7, and it can be accessed on any device that has an Internet connection. When you're finished, you should be equipped to:
- Describe the relationship between business and retailing
- Explain several theories related to the evolution of retail competition
- Outline the cycle of retail resource efficiency
- Compare types of retailers, retail channels and retail sales personnel
- Evaluate the pros and cons of multichannel retailing
- Define the concept of blended retailing
1. Theories of Retail Competition Evolution
Retail competition evolves in a number of ways. Just think about the stores around you now compared to when you were a child. In this lesson, you'll learn more about four theories of retail evolution.
2. Types of Retailers: Benefits, NAICS Classification & Examples
When you decide to go shopping you have many stores to choose from, each offering distinctive benefits. This lesson looks at the types of stores, inventories, and service levels influencing your shopping decisions.
3. Types of Retailers: Informal Classification & Examples
Retailers are often classified in a number of different ways. In this lesson, you'll learn more about the informal categories of number of outlets, margin versus turnover, location and size when comparing businesses.
4. Retail Channels: Definition, Types & Examples
People buy consumer goods through a variety of channels. In this lesson, we'll examine different types of retail channels such as stores, online, catalog, direct sales, television home shopping, and automated retailing.
5. Multichannel Retailing: Definition, Benefits & Challenges
This lesson will identify the benefits of multichannel retailing, such as customer loyalty and improved analytics. We will also look at challenges, such as information security and personnel time. Examples of multichannel retailing will be given.
6. Blended Retailing: Definition, Examples & Consumer Expectations
Many retailers have stores and an online presence and some have successfully blended the two sales approaches. In this lesson we'll examine blended retailing, provide some examples and discuss consumer expectations.
7. Retail Sales Personnel: Types & Evaluation Criteria
Retail sales personnel can make or break a business. In this lesson, you'll learn about two basic types of sales professionals and ways you can evaluate their performance in the workplace.
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