Over the years, the retailing business has gained momentum to a tremendously commendable extent. Be it any part of the world, the importance of retailers couldn't be disregarded as they are the final and direct people who come in contact with the consumers. As for types of retailers, there are four types of retailers:
High-service retailers are the first type of retailers. They are those retailers who provide a large or selective choice of merchandise with the elements of service, location and other kinds of attractive features which other regular retailers don't offer to their customers.
The second type of retailers are Price Focus retailers. These retailers have their main focus on low prices, which is a point of immense attraction for most customers.
The third category of retailers are called Convenience retailers. These retailers neither focus on services nor on low prices. In lieu they offer convenience to their customers in terms of location and accessibility.
The last class of retailers are One-stop-shopping retailers. They are all-rounders in the retailing business and provide all of the above-mentioned features to their customers along with an offering of eclectic range of merchandise.
There are four types od retailers. The first ones are the ‘Expanded assortment and service retailers’ that include speciality shops and departmental stores. Then we have ‘Expanded assortment and/or reduced margin service’, these include supermarkets, discount stores, mass merchandisers etc. The third type of retailer is ‘less assortment high margin and added convenience retailers’ which include mail orders, vending machines, convenience stores and door to door sales. The fourth type of retailers are ‘expanded assortment reduced margins more information retailers’ which include internet merchants.
Classification of store retailers
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Retail industry includes all set of activities to sell the goods or services to the final consumers for personal, non business use.
There are three types of retailers:1) Store retailers: Operates on a fixed point of sale and depending upon the certain criteria they are divided into Department store, Discount Stores, Specialty Store, Category Killer, Convenience Store, Off-Price Retailer, Warehouse Clubs.
2) Non-store retailers: Use various methods such as broadcasting of "infomercials" direct response advertising etc. They are categorized as Direct Selling, Direct Marketing, Automatic Vending and Buying Service.
3)Corporate Organization: Achieve economies of scale, greater purchasing power wider brand recognition and better trained employees because of the central buying of the merchandising. They are classified as Corporate Chain Store, Voluntary Chain, Retailer Co-operative, Consumer Co-operative, Franchise's Organization and Merchandising Conglomerate.
There are basically two types of retailers :-
1) Fixed Shop Retailers : These type of retailers have a fixed shop at a particular place. The products sold by them are usually branded.
2)Itinerent Retailers : These roam around from place to place. The goods sold by them are inferior in quality.
mail order house
consumers cooperative store
There are two views about the types of retailers. One perspective says that there are three types of retailers which include virtual, traditional and online and brick retailers. However, the other perspective says that there are four types of retailers. I am explaining the second view because it also covers three types of first group.
Firstly, there are Traditional stores retailers which includes the retailers of specialty stores and departmental merchandisers. They offer expanded assortment and services. Mass Merchandisers are the retailers of super markets and discount houses come under this category. They offer expanded assortment but have reduced margins. Electronic retailers carry out sales via door to door , electronic machines and vending machines are included in the this category. These retailers offer less assortment but with more convenience and have high margins. Online Retailers have low margins but offer expanded assortment and more information. Online sellers come under this category.
Note: By the term assortment I mean Variety or selection!