Off price retailing
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Off-price retailers sell high-quality goods at discounted prices by obtaining excess inventory and merchandise from previous seasons that full-price retailers were unable to sell. They purchase this overstock from other retailers and brands at 20-60% discounts and pass the savings on to consumers. Major off-price retailers in the US include TJX Companies, Ross Stores, and Big Lots, which stock their stores with clothing, accessories, footwear, and jewelry from popular brands. These retailers fill a niche by capitalizing on fluctuations in consumer demand and manufacturer overproduction.
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This document provides an overview of key concepts in retailing, including:
1. Classification of retail stores according to form of ownership, merchandise offering, service-price orientation, and location.
2. Strategic issues in retailing such as location, product assortment, store positioning, atmospherics, and store image.
3. The importance of relationship marketing and logistics in retailing.
Retailing module 5 course 1
Walmart is a major retailer known for its low prices. It keeps costs and prices low through strategies like visiting stores frequently to understand customers, calling employees "associates" to foster partnership, maintaining tight control over costs through efficient distribution systems and lower advertising spending. The document then discusses different types of retailers like department stores, supermarkets, discount stores and convenience stores. It also covers types of wholesalers like merchant wholesalers, brokers and agents, and manufacturers' branches that add value through functions like buying, selling, warehousing and financing.
Shubhangi
Retail involves the sale of goods and services to end users. Retailers purchase products in bulk from manufacturers and then sell smaller quantities to consumers for a profit. Retailing can be done in fixed locations like stores, door-to-door, or online. Common retail outlets include department stores, discount stores, supermarkets, convenience stores, and online retailers. Retailers aim to attract different customer demographics and can specialize in specific product categories or adopt various pricing strategies.
Shubhangi
Retail involves the sale of goods and services to end users. Retailers purchase products in bulk from manufacturers and then sell smaller quantities to consumers for a profit. Retailing can be done in fixed locations like stores, door-to-door, or online. Common retail outlets include department stores, discount stores, supermarkets, convenience stores, and online retailers. Retailers aim to attract different customer demographics and can specialize in specific product categories or adopt various pricing strategies.
Retailing
This is a short presentation related to Retailing with an special emphasis on Private Labels / Store Brands.
Retailing Dictionary A To Z Retail Business
This document provides definitions for over 100 common retail business terms starting with A through G. Some of the key terms defined include:
- Anchor store: A major store used to drive customers to smaller retailers in a shopping center.
- Brand: A name, symbol or mark associated with a seller's goods/services that distinguishes them from competitors.
- Brick and mortar: Refers to physical retail stores located in a building rather than online.
- Category killer store: A large specialty store with an enormous selection in its product category and low prices that draws customers from a wide area.
- Department store: A large retail unit organized into departments selling a wide variety of goods and services
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Off price retailing
- 2. A retailer sells High quality goods in cheap price. The retailer sells off season items or second hand items. they sell merchandise from a previous year or season that a store or brand couldn’t sell the excess inventory is sold at a 20%-60% discount to an off-price retailer. The company passes these savings onto consumers. T.J. MAXX store in USA
- 3. Merchandise MIX in stores CLOTHING FROM MAJOR LABLES ACCESSORIES WATCHES FOOTWEAR JWELLERY
- 4. THE BIG THREE TJX COMPANIES ROSS STORE BIG LOTS OTHERS SYMS CORP STEIN MART FILENE’s BASEMENT DWS ONLINE STORES OVERSTOCK.COM BLUEFLY
- 5. ADVANTAGES Off-price companies serve a special niche in the retail industry capitalizing on volatility in consumer demand and mistakes made by designers and full-price retail outlets to keep their stores stocked with new low- price products. Low Price of high quality goods. Works against the nature of demand of the consumers.
- 6. DISADVANTAGES Off-price Companies Depend on Manufacturing Mistakes for their Product Supply The margin that RL earns on this excess inventory is dramatically less than what it earns in specialty retail and department stores. Unable to identify consumer preferences. Rise of commodity prices specially rise in fuel prices puts pressure on already lean margin depends on its ability to move high volumes of goods quickly, and on its relationships with designers and distributors who provide the low-cost inventory on which its stores depend.