Retailing Business Facts Flashcards
Product line retailing stores
Specialty store, department store, supermarket, convenience store, super store, combination store, hypermarkets
Specialty stores are retail stores that carry a narrow product line with a
Deep assortment within that line
Examples of specialty stores include
Selling furniture, books, electronics, flowers etc.
Specialty stores attract customers because they provide
Quality products, convenient locations, suitable hours, highly satisfactory service, and quick entry-exit
Department store
A retail organization that carries a wide variety of product line, typically clothing, home furnishing, and household goods.
Each product line in a department store is operated as a
Separate department and managed by specialist buyers or merchandisers
Departments stores flourished through the first half of this
Century
After World War 2, department stores competed with other retailers including
Discount stores, specialty store chains, and off-price retailers
Changes in urban areas like heavy traffic, inadequate parking, and general decaying of central cities
Where many department stores were located, made downtown shopping less popular
Most department stores nowadays operate in
Suburban malls. Many of them have introduced bargaining facilities to counter discount threats
Other department stores have remodeled their stores for
Competing with specialty stores
Many department stores are even resorting to
Mail-order and telephone selling
Service remains a critical factor for
Differentiating department stores from other types of retail stores
Many department stores are renewing their
Emphasis on service to keep old customers and win new ones
Moreover,many large department store chains have joined
Instead of fighting the competition through diversification into discount and specialty stores
