Aim How are retailers classified Do Now What

Aim: How are retailers classified? Do Now: What are three classifications of ownership? Give an examples for each.

Classification Of Retailer Types Store Type Length and Breadth of Product Assortment Specialty Stores Narrow Product Line, Deep Assortment Department Stores Wide Variety of Product Lines i. e. Clothes, Home Furnishings & Household Items Supermarkets Wide Variety of Food, Laundry, & Household Products Convenience Stores Limited Line of High-Turnover Convenience Goods Discount Stores Broad Product Line, Low Margin, High Volume Off-Price Retailer Inexpensive, Overruns, Irregulars, and Leftover Goods Superstores Large Assortment of Routinely Purchased Food & Nonfood Products, Plus Services Catalog Showroom Broad Selection, Fast Turnover, Discount Prices

Department Stores • Offer a variety of merchandise grouped into separate departments • Prestigious reputation of higher quality, fashion, and customer service • Heavy advertisers, large buying and sales volume that help lower expenses

Specialty Stores • Specializing in a given type of merchandise • Carry large selections of limited classifications of merchandise • Lower volume and higher prices than discounters • Customer service and give advice about the selection of goods within their specialties

Supermarkets • a large departmentalized, self-service retailer that specializes in food and some nonfood items. • Being replaced by superstores (1 -stop shopping) • Example: Whole Foods

Drug Stores- • a retail store that stocks pharmacy related products and services as its main draw. • Consumers are most often attracted a drugstore by its pharmacy, its convenience, or because it honors their prescription plan. • Example: Rite Aid

Convenience Stores • Miniature supermarket carrying only a limited line of high turnover convenience goods • Usually open 24 hours/7 days a week (7 -11) • Fast service • Convenient location • Prices are higher than a supermarket