Types of Retailers

Retailing

Retailing is the process through which a company sells its products and services to customers for personal and family use. Retail stores sell the finished product after it has been manufactured and wholesaled (Stanford, 3). Walmart is a good example of a retail firm. The various types of retailers are discussed more below.

Department stores

Department stores are the first. The stores provide a diverse assortment of speciality goods to customers under one roof. This is the location where a customer can go to fulfill their shopping needs.

Specialty stores

Specialty stores only sell one type of product. These stores do not sell anything else apart from the goods or services offered. An example is a Nike shoe store, which only focuses on selling shoes from that specific brand.

Supermarkets

Supermarkets are also retail stores. They specialize in selling common household goods like foodstuff and cleaning products.

Drugstores

Another type of retail store is the drugstore. They mainly sell pharmacy related products and services, but you will also find a few cosmetics and beauty products there.

Convenience stores

A convenience store is one that contains basic household items but in a limited supply. They are smaller compared to supermarkets.

Discount stores

Discount stores are ones that are identified by their high discount and low prices on their products. They sell high volumes of their products to compensate for the low prices.

Restaurants

Restaurants are retail stores which offer both products and services. Their main specialties are foods and drinks.

Current Trends in Retail Business

The retail business is always changing and adapting their processes according to the market. They do this so as to keep up with the competition and satisfy their consumers even more. Some latest trends in retail business are where stores set up internet platforms where the customer can shop for their products at the comfort of their homes. The goods are then delivered to the consumer at their doorstep. Such developments make shopping a whole lot easier than before.

Works Cited

Stanford, C. Introduction to Retailing. Juta Academic, 2005.