What is classification in retail?

Retail formats are broadly classified into store based and non-store based retail formats. The store based formats are the traditional models where you have brick and motor stores while a direct relationship with the customer is the trust area of the non-store based.

What are the four major classifications of retailers?

The major types of retail organizations are corporate chains, voluntary chains and retailer cooperatives, consumer cooperatives, franchise organizations, and merchandising…

What is retailer and types of retailer?

Store retailing: This includes different types of retail stores like department stores, speciality stores, supermarkets, convenience stores, catalogue showrooms, drug stores, superstores, discount stores, extreme value stores etc.

What are three common ways to classify retailers?

Retail outlets can be classified by their form of ownership, level of service, and type of merchandise line.

What is the basis of classification of retailers?

Retailers can be classified based on size, goods, price and ownership. For example: retail shops can be small or big sized; they could be owned by a single person or a group of people.

What are the characteristics of retailers?

Characteristics of a Retailer

In the entire distribution chain, a retailer is considered to be the final link, who deals directly with the customer. A retailer purchases in bulk from the wholesalers and sells the products to the customers in small quantities. A retailer essentially maintains a variety of merchandise.

What are the five function of retailer?

Answer: Functions of Retailers – Merchandising, Warehousing, Selling, Risk-Bearing, Grading, Packing, Grant of Credit, Guide to Wholesaler, Advertising and Salesmanship. As a middleman between the wholesaler/manufacturer and the consumer/user in the market, the retailer performs many functions.

What is an example of a retailer?

Examples of Retailers

These include giants such as Best Buy, Walmart, and Target, but retailing includes even the smallest kiosks at your local mall.

How many major types of retailers are there?

Types of Retailers – Speciality Store, Department Store, Supermarket, Convenience Store, Discount Store, Corporate Chain Store, Voluntary Chain and a Few Others.

How many retail categories are there?

Retail Categories

The Census Bureau divides retail sales into 13 categories.

What four elements make up the retailing mix?

4 elements of the retail mix that are particularly useful for classifying retailers are the type of merchandise sold, the variety and assortment of merchandise sold, the level of customer service, and the price of the merchandise.

What are the classification of wholesalers?

TYPES OF WHOLESALERS

The three categories used in the Census of Wholesale Trade are: 1) merchant wholesalers; 2) agents, brokers, and commission merchants; and manufacturers’ sales branches and offices.

Who is called retailer?

A retailer, or merchant, is an entity that sells goods such as clothing, groceries, or cars directly to consumers through various distribution channels with the goal of earning a profit.

What is an example of a retailer?

Examples of Retailers

These include giants such as Best Buy, Walmart, and Target, but retailing includes even the smallest kiosks at your local mall.

What are the functions of retailing?

Functions of Retailing
  • Sorting. Manufacturers usually make one or a variety of products and would like to sell their entire inventory to a few buyers to reduce costs. …
  • Breaking Bulk. …
  • Holding Stock. …
  • Additional Services. …
  • Channel of Communication. …
  • Transport and Advertising Functions.

What’s another name for retailer?

dealer, distributor, marketer, retail, retailing, salesman, shopkeeper, store, trader, tradesman, Tradesmen, reseller.

What is another word for retailer?

retailer
  • discounter,
  • distributor,
  • e-tailer,
  • exporter,
  • jobber,
  • reseller,
  • wholesaler.