A company like ValueMags sells different magazines for several industries and interesting topics. It is important for the ValueMags team to understand exactly how retailing works since they are in retailing themselves. Understanding the different types of retailing will help them better understand the business world and give them a step up compared to their competitors. Retailing is all of the activities involved in selling goods or services directly to final consumers for their personal, non business use. The ValueMags company is a retailer since they are a business whose sales come primarily from retailing. There are many institutions, manufacturers, wholesalers and retailers in the retailing industry and it is important for the company to know the different types of retailing in order for them to stay in the game and know who they are selling to and what type of retailing their clients are involved in. Most of the ValueMags clients are different businesses involved in retailing themselves and that is why it is so important for them to know whom they are dealing with.
Major Retailer Types
The major store retailer types are specialty stores, department stores, supermarkets, convenience stores, off-price retailer, discount stores, and superstores. A specialty store carries a narrow product line with a deep assortment within that line. A department store is a retail organization that carries a wide variety of product lines and each line is operated as a separate department managed by specialist buyers or merchandisers. A supermarket is a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of groceries and household products. A convenience store is small and it is located near a residential area that is open long hours seven days a week and carries a limited line of high-turnover convenience goods. A superstore is a store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services. A category killer is a giant specialty store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees. A service retailer is a retailer whose product line is more of a service such as hotels, airlines, banks universities and this is where the ValueMags company categorizes themselves.
The ValueMags company understands the importance of knowing these different types of retailers in order to be able to categorize themselves and their customers. Retailing is apart of everyone’s daily lives and that is another reason why it is so important to understand the major types.
