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Encyclopedia > Retailer
A drawing of a self-service store

Retailing consists of the sale of goods/merchandise for personal or household consumption either from a fixed location such as a department store or kiosk, or away from a fixed location and related subordinated services (Definition of the WTO (last page). In commerce, a retailer buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells individual items or small quantities to the general public or end user customers, usually in a shop, also called store. Retailers are at the end of the supply chain. Marketers see retailing as part of their overall distribution strategy. US1242872 This image has been released into the public domain by the copyright holder, its copyright has expired, or it is ineligible for copyright. ... US1242872 This image has been released into the public domain by the copyright holder, its copyright has expired, or it is ineligible for copyright. ... Exterior of typical department store (JCPenney). ... a pagoda-like kiosk in Lausanne. ... Commerce is the trading of something of value between two entities. ... Manufacturing is the transformation of raw materials into finished goods for sale, or intermediate processes involving the production or finishing of semi-manufactures. ... An importer is a person or company that imports products into a country and sells them there. ... In commerce, a wholesaler buys goods in large quantities from their manufacturers or importers, and then sells smaller quantities to retailers, who in turn sell to the general public. ... This article needs to be cleaned up to conform to a higher standard of quality. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... It has been suggested that Product marketing be merged into this article or section. ... Distribution is one of the four aspects of marketing. ...

Shops may be on residential streets, or in shopping streets with little or no houses, or in a shopping center or shopping mall. Shopping streets may or may not be for pedestrians only. Sometimes a shopping street has a partial or full roof to protect customers from precipitation. The Mall of America in Bloomington, Minnesota — the third-largest in the world. ... A pedestrian at the intersection of Alinga Street and Northbourne Avenue, Canberra, Australia Look up Pedestrian on Wiktionary, the free dictionary A pedestrian is a person travelling on foot, whether walking or running. ... A roof tiled in imitation of thatch at Croyde, north Devon, England Rooftops in Vietnam A roof is the top covering of a building that sheds rain or snow, keeping the building interior dry. ...

Shopping is buying things, sometimes as a recreational activity. Cheap versions of the latter are window shopping (just looking, not buying) and browsing. A fruit stand at a market. ... Tigers playing in the water. ... Browser can refer to: browser - a type of herbivore whose nutrition generally comes from high growing plants, like trees, rather than a grazer that eats from the ground. ...

Kinds of retailers

There are three major types of retailing.

The first is counter service, now rare except in the case of controlled items (e.g. medicine). The second, and more widely used method of retail, is self service. Quickly increasing in importance are online shops, the third type, where products and services can be ordered for physical delivery, downloading or virtual delivery. Online shopping is the process consumers go through to purchase products or services over the internet. ...

Even though most retailing is done through self service, many shops offer counter service items. Controlled items like medicine, liquor and other commodities may require assistance to the customer.

A large shop is called a superstore or megastore. A shop with many different kinds of articles is called a department store. Local shops can be known as brick and mortar stores in the United States. Exterior of typical department store (JCPenney). ... Brick and Mortar refer to companies that have a physical presence and offer face-to-face consumer experiences, as apposed to an internet only presence. ...

Many shops are part of a chain: a number of similar shops with the same name selling the same products in different locations. The shops may be owned by one company, or there may be a franchising company that has franchising agreements with the shop owners (see also restaurant chain). Franchising (from the French for free) is a method of doing business wherein a franchisor licenses trademarks and methods of doing business to a franchisee in exchange for a recurring royalty fee. ... A restaurant chain is a set of related restaurants, typically with the same name in many different locations either under shared corporate ownership (e. ...

Some shops sell second-hand goods. Often the public can also sell goods to such shops. In other cases, especially in the case of a nonprofit shop, the public donates goods to the shop to be sold (see also thrift store). In give-away shops goods can be taken for free. A non-profit organization (often called non-profit org or simply non-profit or not-for-profit) can be seen as an organization that doesnt have a goal to make a profit. ... A charity shop (UK), thrift store (US) or op shop (Australia/NZ, from opportunity shop) is a retail establishment operated by a charitable organization for the purpose of fundraising. ... Give-away shops, freeshops, or free stores are second-hand stores that are starting to appear in Northern European towns and cities, especially in the Netherlands and Germany. ...

The term retailer is also applied where a service provider services the needs of a large number of individuals, such as with telephone or electric power. The telephone or phone (Greek: tele = far away and phone = voice) is a telecommunications device which is used to transmit and receive sound (most commonly voice and speech) across distance. ... Electric power is the amount of work done by an electric current in a unit time. ...

Retail pricing

The pricing technique used by most retailers is cost-plus pricing. This involves adding a markup amount (or percentage) to the retailers cost. Another common technique is manufacturers suggested list pricing. This simply involves charging the amount suggested by the manufacturer and usually printed on the product by the manufacturer. Pricing is one of the four aspects of marketing. ... Cost-plus pricing is a pricing method commonly used by firms. ... Markup is a term used in marketing to indicate how much the price of a product is above the cost of producing and distributing the product. ...

In Western countries, retail prices are often so-called psychological prices or odd prices: a little less than a round number, e.g. $ 6.95. In Chinese societies, prices are generally either a round number or sometimes some lucky number. This creates price points. In economics and business, the price is the assigned numerical monetary value of a good, service or asset. ... Retail prices are often expressed as odd prices: a little less than a round number, e. ... Price points are prices for which demand is relatively high. ...

Often prices are fixed and displayed on signs or labels. Alternatively, there can be price discrimination for a variety of reasons. The retailer charges higher prices to some customers and lower prices to others. For example, a customer may have to pay more if the seller determines that he or she is willing to. The retailer may conclude this due to the customer's wealth, carelessness, lack of knowledge, or eagerness to buy. Price discrimination can lead to a bargaining situation often called haggling — a negotiation about the price. Economists see this as determining how the transaction's total surplus will be divided into consumer and producer surplus. Neither party has a clear advantage, because the threat of no sale exists, whence the surplus vanishes for both. For other pricing strategies and policies see: Pricing Strategies Price discrimination exists when sales of identical goods or services are transacted at different prices from the same provider. ... Negotiation is the process whereby interested parties resolve disputes, agree upon courses of action, bargain for individual or collective advantage, and/or attempt to craft outcomes which serve their mutual interests. ... Negotiation is the process whereby interested parties resolve disputes, agree upon courses of action, bargain for individual or collective advantage, and/or attempt to craft outcomes which serve their mutual interests. ... This page deals with the various forms of economic surplus, including producer, consumer, government, and social/total surplus. ...

External links

  • About Retail Detailed Information about retailing.

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