Multichannel Retailing: Definition, Benefits & Challenges #online #coupon #deals


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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.

What Is Multichannel Retailing?

Ever see something you wanted to buy right then and there? When you go to the store, do you want to know if another store has the same product at a lower price? What about sitting on your couch and seeing a product advertised on television that you’d like to buy right away? If you like ordering goodies from your couch, car or deck, then you are a fan of multichannel retailing.

Multichannel retailing is when a company provides numerous ways for customers to purchase goods and services. This marketing strategy could include selling through traditional outlets such as catalogs, brick-and-mortar stores, mail, and telephone. But, it also includes nontraditional electronic and mobile outlets like websites, chats, emails, apps, and social networks.

Multichannel retailing is a way to build a brand and reach a lot of consumers. You want to target channels that give you the most return on your investment. Let’s review the benefits of multichannel retailing and look at Sears as an example.

What Are The Benefits Of Multichannel Retailing?

Multichannel retailing is a marketing concept that is always evolving. The bottom line is that most companies these days are expected to give customers a variety of ways to shop. Customers want convenience, and they want things done immediately. Multichannel retailing offers the following benefits.

  • Flexibility for consumers when purchasing and paying for goods and services,
  • More opportunities to build a brand among diverse audiences,
  • Additional chances to solicit and use consumer testimonials,
  • 24-hour access to customers to build brand loyalty,
  • A greater degree of visibility among various demographics, and
  • Improved analytics to help understand consumer behaviors.

Sears was one of the first companies to use a multichannel retailing model. Established in 1886, Sears started as a traditional outlet, a mail order catalog store. By the 1950s, the company built several brick-and-mortar stores. After expanding its Kenmore, Craftsman, and Diehard brands, it was acquired by Kmart in 2004. Sears continued its multichannel transformation.

Combined with Kmart, Sears has turned itself into a diversified, online behemoth. The company not only owns familiar brands such as Discover and Allstate, but it has dramatically improved convenience for customers wanting their brands. Now consumers can buy something in the store and have it shipped home or vice versa. Interestingly enough, Sears continues to invest in different types of brick-and-mortar stores, including outlets and discount stores.

The company has improved its retail sales with a large investment in online marketing channels and changes. For example, Sears became a part of the the Shop Your Way rewards program, which is an online platform that builds shopping around a social network. The company also expanded its app, Sears2go, which allows you the convenience of shopping with your mobile phone.

Sears even offers an electronic personal shopper from its website while giving store customers the flexibility to use a kiosk in its stores. By offering multiple shopping, payment, and shipping methods, Sears looks to continue shifting its business model to more of an online retailer. Now that we know the benefits of multichannel retailing, let’s look at the drawbacks.

What Are The Drawbacks of Multichannel Retailing?

The drawbacks of multichannel retailing are usually related to companies spreading themselves so thin that they are not able to offer a truly integrated experience to customers. For example, there are a few questions a company needs to answer before expanding into multiple channels as a marketing plan:

  • Are you able to keep the prices of goods and services comparative to competitors?
  • Can you offer a comparable customer service experience online?
  • Do you have the ability to keep customer information secure in all settings?
  • Are you able to compete when consumers compare quality across other retailers?
  • Do you have the money to invest in targeted messaging?
  • Do you have the staff available to maintain the multiple channels?

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Definition – Multi Channel Retailing #tv #retailers


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Gabler Wirtschaftslexikon

ANZEIGE

I. Begriff und Merkmale Die Marktsoziologie oder auch Soziologie der Märkte ist ein Teilgebiet der Soziologie, in der Märkte den zentralen Erklärungsgegenstand bilden. Märkte sind zentrale Institutionen und Ordnungsformen moderner Gesellschaften, über die die Zuweisung und Verteilung von Gütern und. mehr

von Robert Skok

Corporate Governance bezeichnet den rechtlichen und faktischen Ordnungsrahmen für die Leitung und Überwachung eines Unternehmens. Unvollständige Verträge und unterschiedliche Interessenlagen bieten den Stakeholdern prinzipiell Gelegenheiten wie auch Motive zu opportunistischem Verhalten. Regelungen zur Corporate Governance haben grundsätzlich die Aufgabe, durch. mehr

von Prof. Dr. Axel v. Werder

Multi Channel Retailing

ANZEIGE

mehrgleisiger Vertrieb, mehrgleisige Distribution, Mehrwegabsatz, hybride Verkaufssysteme, Mehrkanal-Vertrieb, mehrgleisiger Einzelhandel, Mehrkanalsystem im Einzelhandel. Der Kunde kann zwischen mehreren Kanälen wählen, z.B. stationärer Einzelhandel, Katalogversand, Onlineshop oder via TV, um Leistungen eines Anbieters nachzufragen. Soweit neben den stationären Geschäften ein elektronischer Absatzkanal eingeschaltet ist, spricht man auch von Click Mortar. Multi Channel Retailing liegt auch vor, wenn der Händler allein im stationären Bereich (oder in einem anderen Bereich) mehrere Vertriebslinien führt, z.B. die Tengelmann-Gruppe mit Plus, Kaiser’s, Tengelmann und kd. Die Kanäle können integriert sein: Der Kunde kann den Kaufprozess auf mehr als einen Kanal verteilen, z.B. Information im Onlineshop und Kauf im stationären Geschäft, was u.a. bei Conrad Electronic, Douglas, Karstadt, Lands’ End, Otto, Plus, Tchibo und Schlecker möglich ist. Oder die Kanäle werden völlig separat geführt: Der Kunde hat nicht die Möglichkeit, mehrere Kanäle einer Handelsunternehmung (z.B. Saturn und Media Markt) bei einem Kaufprozess in Anspruch zu nehmen. Probleme beim Multi Channel Retailing können entstehen, wenn in den einzelnen Vetriebswegen unterschiedliche Strategien (etwa Preisstrategien) eingeschlagen werden, der Kunde aber zwischen den einzelnen Kanälen wählen kann.

Suche in der E-Bibliothek für Professionals

ANZEIGE

Multi Channel Retailing

ist im Gabler Wirtschaftslexikon folgenden Sachgebieten zugeordnet:

Informationen zu den Sachgebieten

Die Versicherungswirtschaft ist zum einen ein Wirtschaftszweig von großer volkswirtschaftlicher Bedeutung und zum anderen eine spezielle Betriebwirtschaftslehre – auch Versicherungsbetriebslehre genannt. Als Wirtschaftszweig mit Dienstleistungscharakter ist die Versicherungswirtschaft mit Aufgaben der Schadensverhütung und -regulierung und der Sammlung von Kapital betraut.. mehr

Durch eine internationale Rechnungslegung und damit internationale Harmonisierung der Rechnungslegung soll eine Vergleichbarkeit bzw. Interpretierbarkeit der Jahresabschlüsse international agierender Unternehmen, die ansonsten nach länderspezifischen, unterschiedlichen Rechtsnormen erstellt sind, erreicht werden. Diese Harmonisierung ist seit 2001 Aufgabe des IASB, des privatrechtlichen. mehr

Die Wirtschaftsinformatik als Wissenschaft von der Konzeption, Entwicklung und Anwendung computergestützter Informations- und Kommunikationssysteme (IKS) nimmt eine interdisziplinäre Schnittstellenfunktion zwischen der Betriebswirtschaftslehre und der Informatik ein. Jedoch bietet die Wirtschaftsinformatik auch zusätzliche Funktionen/Ergebnisse wie etwa Methoden und Modelle, anhand derer. mehr

I. Kurzübersicht Die Volkswirtschaftliche Gesamtrechnung (VGR) erstellt ein quantitatives Gesamtbild des wirtschaftlichen Geschehens. Hierzu erarbeitet sie ein aus der Logik eines Kreislaufschemas hergeleitetes Rechenwerk, das – aus mehreren Teilrechnungen bestehend – eine umfassende und hinreichend gegliederte Darstellung aller geleisteten Wirtschaftstätigkeit anstrebt. II.. mehr

Schwerpunktbeitrag von Michael Horvath, Prof. Dr. Robert K. Frhr. von Weizsäcker

I. Neoklassisches Basismodell Annahmen: Marktform der vollkommenen Konkurrenz (Ausschluss von Marktmacht) mit folgenden wichtigen Implikationen: Homogenität und vollständige Substituierbarkeit aller Arbeitskräfte und Arbeitsplätze (Ausschluss von Diskriminierung); vollkommene Information aller Wirtschaftssubjekte (Markttransparenz); vollständige Mobilitätsfähigkeit und -bereitschaft aller Arbeitskräfte; vollständige Flexibilität der Löhne. mehr

Schwerpunktbeitrag von Privatdozent Dr. Fred Henneberger, Prof. Dr. Berndt Keller

I. Begriff und Bedeutung Der Begriff Krisenmanagement entstand im politischen Bereich, wobei dessen erstmalige Verwendung dort umstritten ist, mehrheitlich aber Kennedy im Zusammenhang mit der Kuba-Krise 1962 zugeschrieben wird. In der Betriebswirtschaftslehre findet der Begriff Krisenmanagement erst seit den 1970er-Jahren Verwendung, wenn. mehr

Schwerpunktbeitrag von Prof. Dr. Ulrich Krystek


The four benefits of multi-channel retailing #retail #product #packaging


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The four benefits of multi-channel retailing

The following is an excerpt from the free guide “Multi-channel Retailing: An Introduction,” sponsored by Frank Mayer and Associates and available for download here .

Creating a successful multi-channel experience can seem intimidating to many retailers, who may wonder if the effort is worth it. They may not have a choice, however.

“Consumers are expecting this kind of integration already,” said Ron Bowers, senior vice president of Frank Mayer and Associates. a Grafton, Wis.-based merchandising company. “They expect that if they order an item online, they can return it in the store, that kind of thing. It’s up to retailers to make sure that expectation is met.”

But multi-channel retailing offers plenty of benefits to retailers, benefits that make investing in the strategy worthwhile.

Improved customer perception

“Channels are disintegrating for customers,” said Jeremy Gustafson, vice president at KSC Kreate, a digital commerce agency based in Hollywood, Fla. “People are watching television and using their tablet at the same time. They expect the same kind of integration with their shopping experience.”

Brands who don’t provide that kind of experience, he said, are likely to lose customers, especially as the digital generation gains even more buying power.

Stores who do create a seamless experience that integrates all different forms of technology, however, can gain significant customer loyalty. Those brands are perceived as forward-thinking and responsive to customer’s needs — qualities that will keep customers coming back.

That improved perception offers another advantage, as well. In a world of big-box stores and online shopping, finding the best price is easier than ever for customers. A store that is perceived as responsive to customer needs and gives customers easy access to a variety of channels can differentiate itself in a crowded field. That allows the brand to compete on the experience offered, rather than just price. Customers might be willing to pay a little more for the convenience, and will come back repeatedly, and brands don’t have to slice their profits just to keep up.

The primary driver for a retailer adopting any strategy is, of course, increasing profit, most frequently by increasing sales. Multi-channel retailing, by offering a variety of engagement points for the customer to make a purchase, increases the convenience and ease of sales, thus boosting profit.

A customer who thinks about buying a pair of pants, for example, may not want to drive to the mall, park, walk to the store, find the pants and try them on. For that customer, she can go online at home and order the pants from the store’s website. Another customer, however, might be in the store trying on the pants and decide she’d like them in a different color. In that case, she can use an in-store kiosk to find the pants in the preferred color, order them and have them delivered to her home. Still another customer can use her smartphone to take a picture of the pants, send it to a friend and discuss whether to purchase them or not. Having a variety of engagement points gives retailers more tools to make a sale.

Better data collection

Knowing the customer is a key tenant for successful retailing, and multi-channel engagement points provide more opportunities to gather information about customers.

There are two benefits to the data collection offered by multi-channel retail: First, the possibility for gathering more information exists, and the information can be used more effectively.

“People usually are more comfortable entering information themselves, rather than giving it to a salesperson,” said Steve Deckert, marketing manager for Sweet Tooth, a Toronto-based provider of loyalty programs to retailers. “So they are far more likely to enter their email address into a kiosk than give it to a cashier. At the same time, by having that information available across a variety of channels, the retailer has more opportunities to capture the information, and more of it.”

If a retailer can track what a customer is purchasing, and where, more targeted marketing can be introduced. Someone who tends to browse online and then purchase in-store, for example, can be emailed an invitation to a private showing in a store, and the list of products to be shown can be sent before the event, increasing the likelihood of purchase.

Not only is it more likely that the customer will provide important information, but if all the different channels are communicating, then the information only needs to be entered once.

“If you’re going to ask someone for information about themselves, it needs to be available whenever they come to you,” said Verizon’s Bagel. “Otherwise, it feels intrusive and annoying to have to repeat the same information over and over again.”

Multi-channel retailing offers benefits for more than shoppers. Workers, too, can benefit from the use of new technology, by arming them with more information and increasing their efficiency.

A tablet, for example, frees employees from the point-of-sale system, instead allowing them to carry the register with them. Employees can go directly to the aid of customers, helping them to find out what is in stock, what is available at other stores and when new products might be launching. The tablet also can contain information about the loyalty program, so a frequent customer can be given VIP status. Then, when a purchase is ready to be made, the customer does not have to stand in line, but rather can simply continue talking to the salesperson and make her purchase via tablet.

While every type of channel has its own unique set of challenges, there are some strategies that are true across all engagement points.

Be consistent. Messaging across all channels should have the same look and feel; the customer should always know exactly what brand she is interacting with.

“Traditionally, retailers have approached each channel individually,” said Gustafson. “What is needed, though, is to create a single marketing message, and then figure out how to deploy it across all channels. The messaging doesn’t have to be identical, but it all needs to be clearly related.”

Provide a value-add. Make sure each engagement point offers something to the customer. An in-store kiosk that simply accesses the company’s website, for example, is not bringing anything unique to the customer; instead, she can check the website at home, on her own. The same is true of a tablet. If the salesperson with the tablet does not have access to more or better information than the customer can access via her own tablet or smartphone, the application will not bring much value to the transaction.

Security. There is a fine line between being helpful and being intrusive, and it’s a line that is easily crossed. Customers are aware of security issues, and are wary of providing too much personal information.

“There has to be a clear connection between the information collected, how it’s used and what value the customer receives from it,” said Bagel. “Understand your brand strategy and what level of intimacy is appropriate. Depending on your clientele, privacy might not be as important — digital natives tend to be far less concerned with privacy than Baby Boomers, for example. But everyone wants to know that they will receive a benefit from giving you information.”

Be committed. Multi-channel retailing requires an investment in time and money. There needs to be a clear strategy across all teams, and cooperation is critical to success.

“In order to have totally seamless solution, all stakeholders need to be involved, giving their insight and taking ownership and having support and understanding as to what is being done, why and how,” said Bowers. “This is not a sometime commitment; this is a total marketing strategy for the retailer to invest in the future of the customer acquisition, retention process and loyalty programs.”


Electronic Retailing – E-tailing Definition #retail #job #description


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Electronic Retailing – E-tailing

What is ‘Electronic Retailing – E-tailing’

Electronic retailing is the sale of goods and services through the internet. Electronic retailing, or e-tailing, can include business-to-business (B2B) and business-to-consumer (B2C) sales of products and services, through subscriptions to website content, or through advertising. E-tailing requires businesses to tailor traditional business models to the rapidly changing face of the internet and its users.

BREAKING DOWN ‘Electronic Retailing – E-tailing’

Electronic retailing requires many product and service displays and specifications, giving shoppers a personal feel for the look and quality of the offerings without requiring them to be present in a store.

Characteristics of Successful Electronic Retailing

Successful e-tailing requires strong branding. Websites must be engaging, easily maneuverable and regularly updated to meet consumers’ changing demands. Products and services need to stand out from competitors’ offerings and add value to consumers’ lives. In addition, a company’s offerings must be competitively priced so consumers do not favor one business over another based on cost alone.

E-tailers need strong distribution efficiency so consumers are not waiting long periods of time for the products or services they purchase. Transparency in business practices is also important so consumers trust and stay loyal to a company. As consumers continue buying from the business, revenue increases.

Advantages of Electronic Retailing

E-tailing helps traditional brick-and-mortar stores reach more consumers worldwide and increase sales. Individual and startup e-tailers may be launched from a single room with one computer and expand rapidly rather than pay for an entire building with expensive overhead.

E-tailers may trace consumers’ shopping behavior while gaining valuable insights into their spending habits, which may lead to increased revenue. In addition, customers shop from the comfort of their homes at any time rather than being physically present in the store during specific hours.

Disadvantages of Electronic Retailing

However, creating and maintaining an e-tailing website may be expensive. Infrastructure costs for order fulfillment, warehousing goods, dealing with returns and other issues add up quickly. Also, consumers may not trust a company that is not well-established and may not buy from it as frequently as a brick-and-mortar store.

In addition, e-tailing does not provide the emotional shopping experience encouraging consumer spending the way being physically present in stores does. E-tailing does not let consumers hold, smell, feel or try products or services for the sensory support of buying them. It also does not provide the personal service many consumers are accustomed to when shopping.

Consumers may be concerned about providing credit card information online and having their personal details jeopardized. Also, operating with an unproven business model increases the odds of an e-tailer failing. Consumers may have no recourse if the company becomes insolvent and cannot refund product or service payments as requested.


Retail Manager resume Template – Retailing resume examples #online #shopping #discounts


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Sample CV of functional Retail Manager

George Paulson
79 South Baxton St.
Portland, OR 97299
(603) 555 – 0928

Objective

A challenging Retail Management position in a fast paced environment that will allow for personal growth and career advancement.

Summary of Qualifications

  • Retail Manager with experience with a major department store chain. Skilled at planning and budgeting; employee training; adherence to company standards; and customer relations.

Notable Achievements

  • Redesigned Klein’s floor layout, resulting in a more attractive store and a 300% increase in customer traffice.
  • Averaged 17% year-to-year sales increase.

Experience

Klein’s Department Store
Store Manager, 1998 – Present
Increased sales volume by 150 % in less than three years. Designed more attractive merchandise presentation strategies and special marketing campaigns, resulting in increased store traffic and profits. Hired and trained sales staff. Increased store inventory and expanded merchandise purchases. Responsibilities included purchasing, merchandising, customer service, and all facets of running a department store.

Strands Department Store
Men’s Department Manager, 1996 – 1998
Promoted from hourly position. Responsible for increased sales through use of aggressive city-wide marketing campaign and more attractive department layout. Daily operations included cash deposits and inventory control.

Education

Portland State University, Portland, OR
B.A. Marketing, 1996
President, Business Ethics Society

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Journal of Retailing #jewelry #retailers


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Journal of Retailing

Journal of Retailing

Journal Metrics

  • Source Normalized Impact per Paper (SNIP): 2.180Source Normalized Impact per Paper (SNIP):
    2015: 2.180
    SNIP measures contextual citation impact by weighting citations based on the total number of citations in a subject field.
  • SCImago Journal Rank (SJR): 2.056SCImago Journal Rank (SJR):
    2015: 2.056
    SJR is a prestige metric based on the idea that not all citations are the same. SJR uses a similar algorithm as the Google page rank; it provides a quantitative and a qualitative measure of the journal’s impact.
  • Impact Factor: 2.014Impact Factor:
    2015: 2.014
    The Impact Factor measures the average number of citations received in a particular year by papers published in the journal during the two preceding years.
    © Thomson Reuters Journal Citation Reports 2016
  • 5-Year Impact Factor: 3.096Five-Year Impact Factor:
    2015: 3.096
    To calculate the five year Impact Factor, citations are counted in 2015 to the previous five years and divided by the source items published in the previous five years.
    © Journal Citation Reports 2016, Published by Thomson Reuters
  • Stay up-to-date

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    The Journal of Retailing is devoted to advancing the state of knowledge and its application with respect to all aspects of retailing. its management. evolution. and current theory. The field of retailing includes both products and services. the supply chains and distribution channels that serve retailers, the relationships between retailers and members of the supply channel, and all forms of direct marketing and emerging electric markets to households. Articles may take an economic or behavior approach, but all reflect rigorous analysis and a depth of knowledge of relevant theory and existing literature. Empirical work is based upon the scientific method, modern sampling procedures and statistical analysis.

    Benefits to authors
    We also provide many author benefits, such as free PDFs, a liberal copyright policy, special discounts on Elsevier publications and much more. Please click here for more information on our author services .

    Please see our Guide for Authors for information on article submission.

    The Journal of Retailing is devoted to advancing the state of knowledge and its application with respect to all aspects of retailing. its management. evolution. and current theory. The field of retailing includes both products and services. the supply chains and distribution channels that serve retailers, the relationships between retailers and members of the supply channel, and all forms of direct marketing and emerging electric markets to households. Articles may take an economic or behavior approach, but all reflect rigorous analysis and a depth of knowledge of relevant theory and existing literature. Empirical work is based upon the scientific method, modern sampling procedures and statistical analysis.

    Benefits to authors
    We also provide many author benefits, such as free PDFs, a liberal copyright policy, special discounts on Elsevier publications and much more. Please click here for more information on our author services .

    Please see our Guide for Authors for information on article submission. If you require any further information or help, please visit our support pages: http://support.elsevier.com

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    What is e-tailing (electronic retailing)? Definition from #retail #it #jobs


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    e-tailing (electronic retailing)

    E-tailing (less frequently: etailing ) is the selling of retail goods on the Internet. Short for electronic retailing, and used in Internet discussions as early as 1995, the term seems an almost inevitable addition to e-mail. e-business. and e-commerce. E-tailing is synonymous with business-to-consumer (B2C ) transaction.

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    Retailing #webkinz #retailers


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    Retailing

    retailing, the selling of merchandise and certain services to the consumer. It ordinarily involves the selling of individual units or small lots to large numbers of customers by a business set up for that specific purpose. In the broadest sense, retailing can be said to have begun the first time one item of value was bartered for another. In the more restricted sense of a specialized, full-time commercial activity, retailing began several thousand years ago when peddlers first began hawking their wares and when the first marketplaces were formed.

    A jewelry shop is one of the typical retailers of Puerto Banús, near Marbella, Spain, that …

    Contunico © ZDF Enterprises GmbH, Mainz

    As with most other business activities, retailing is extremely competitive, and the mortality rate of retail establishments is relatively high. The basic competition is price competition, but this is moderated somewhat by such non-price forms of competition as convenience of location, selection and display of merchandise, attractiveness of the retail establishment itself, and intangible factors such as reputation in the community. Competition for sales has led to a blurring of traditional product lines in retailing, and many establishments offer a much wider variety of merchandise than their basic classification would indicate (e.g., drugstores may carry food, clothing, office supplies, hardware, etc.).

    The diversity of retailing is evident in the many forms this commercial activity now takes, including vending machines, door-to-door sales, telephone sales, mail-order houses, specialty stores, department stores, supermarkets, discount houses, and consumer cooperatives. Whatever form it takes, however, the essence of good retailing remains the same: attractive, appropriate merchandise offered for sale in an attractive, eye-catching manner at a reasonable price at a convenient location. See also marketing .

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    Market Research on the Retailing Industry #promo #codes


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    Retailing

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    What is Retailing? #wholesale #retail #clothing


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    KnowThis: Marketing Basics Book

    KnowThis: Marketing Basics, 2nd Edition offers in-depth coverage of marketing and is ideal for the marketing novice, the marketing educator, the marketing professional and anyone else who needs to know about marketing. This book includes more than 60% new material not found on KnowThis.com . For more information including taking a look inside, Click Here .

    What is Retailing?

    Retailing is a distribution channel function where one organization buys products from supplying firms or manufactures the product themselves, and then sells these directly to consumers. A retailer is a reseller (i.e. obtains product from one party in order to sell to another) from which a consumer purchases products. In the US alone there are over 1,100,000 retailers according to the 2002 US Census of Retail Trade.

    In the majority of retail situations, the organization from which a consumer makes purchases is a reseller of products obtained from others and not the product manufacturer. But as we discussed in the Distribution Decisions tutorial, some manufacturers also operate their own retail outlets in a corporate channel arrangement. While consumers are the retailer’s buyers, a consumer does not always buy from retailers. For instance, when a consumer purchases from another consumer (e.g. eBay) the consumer purchase would not be classified as a retail purchase. This distinction can get confusing but in the US and other countries the dividing line is whether the one selling to consumers is classified as a business (e.g. legal and tax purposes) or is selling as a hobby without a legal business standing.

    As a reseller, retailers offer many benefits to suppliers and customers as we discussed in the Distribution Decisions tutorial. For consumers the most important benefits relate to the ability to purchase small quantities of a wide assortment of products at prices that are considered reasonably affordable. For suppliers the most important benefits relate to offering opportunities to reach their target market, build product demand through retail promotions, and provide consumer feedback to the product marketer.

    Cite:What is Retailing? (2016). From Retailing Tutorial. KnowThis.com. Retrieved October 24, 2016 from http://www.knowthis.com/retailing/what-is-retailing

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