Merchants, who in early times were viewed with suspicion, rose in the social scale. Small stores, each carrying its special line of goods, reached their peak in the 18th century. The wholesale business developed, and traveling salesmen and standard prices came into general use. In the United States the general store preceded the single-line store and is still common in small rural communities.
In the late 19th century the department store came into being a large-scale general store or a combination of single-line stores in which each line of merchandise is operated as a separate department. Such stores provide the convenience of easy accessibility to a large variety of goods. Modern department stores have been vital to the development of shopping …show more content…
Retail serves consumers through a small grocery store to a huge departmental store. Retail Industry is heavily dependent on consumer spending.
• Internet and E-Commerce- Internet, the ubiquitous medium has opened a new avenue in front of the Retailers. It has offered an opportunity to the consumers to shop from the home. As it stands today overall Retail sales through internet may not be that significant but gradually it is gaining popularity amongst consumers. Amazon.com is successful in this E-commerce domain.
• Direct Marketing - Retailers have found another sales channel through which they can reach the consumer and this is known as direct marketing. Direct marketing has their root in direct mail and catalog marketing. Avon, Electrolux, Southwestern Company, Tupperware and Mary key cosmetics are the examples who have adopted this strategy successfully.
• Rise in Discount stores - Supremacy of Discount store is also one of the distinct characteristics of Retail Industry today. Discount stores offer money back guarantee, every day low price etc. to lure customers. Wal-Mart the world’s largest Retailer comes under this category of Retail …show more content…
• Inadequate power supply is the most important obstacle to retailing - Most stores (33 percent) identified electricity as the most important obstacle.
• Retailing in smaller cities - For the business environment, the key difference between the metropolitan and the rest of the cities lies in power supply. In the non-metropolitan cities, losses due to power outages average 5.5percent of annual sales of the stores and hours of power outage in a typical month average 78.9. Corresponding figures for the metropolitan cities are much lower at 2.6percent and growth can slow drastically and even decline. Retail spending grows rapidly during periods of strong economic growth, as consumers spend a greater share of income and increase their personal debt.
Rising interest rates affect consumer credit and consumer ability to finance large retail purchases, such as cars.
• Inadequate power supply is the most important obstacle to retailing - Most stores (33 percent) identified electricity as the most important
In the late 19th century the department store came into being a large-scale general store or a combination of single-line stores in which each line of merchandise is operated as a separate department. Such stores provide the convenience of easy accessibility to a large variety of goods. Modern department stores have been vital to the development of shopping …show more content…
Retail serves consumers through a small grocery store to a huge departmental store. Retail Industry is heavily dependent on consumer spending.
• Internet and E-Commerce- Internet, the ubiquitous medium has opened a new avenue in front of the Retailers. It has offered an opportunity to the consumers to shop from the home. As it stands today overall Retail sales through internet may not be that significant but gradually it is gaining popularity amongst consumers. Amazon.com is successful in this E-commerce domain.
• Direct Marketing - Retailers have found another sales channel through which they can reach the consumer and this is known as direct marketing. Direct marketing has their root in direct mail and catalog marketing. Avon, Electrolux, Southwestern Company, Tupperware and Mary key cosmetics are the examples who have adopted this strategy successfully.
• Rise in Discount stores - Supremacy of Discount store is also one of the distinct characteristics of Retail Industry today. Discount stores offer money back guarantee, every day low price etc. to lure customers. Wal-Mart the world’s largest Retailer comes under this category of Retail …show more content…
• Inadequate power supply is the most important obstacle to retailing - Most stores (33 percent) identified electricity as the most important obstacle.
• Retailing in smaller cities - For the business environment, the key difference between the metropolitan and the rest of the cities lies in power supply. In the non-metropolitan cities, losses due to power outages average 5.5percent of annual sales of the stores and hours of power outage in a typical month average 78.9. Corresponding figures for the metropolitan cities are much lower at 2.6percent and growth can slow drastically and even decline. Retail spending grows rapidly during periods of strong economic growth, as consumers spend a greater share of income and increase their personal debt.
Rising interest rates affect consumer credit and consumer ability to finance large retail purchases, such as cars.
• Inadequate power supply is the most important obstacle to retailing - Most stores (33 percent) identified electricity as the most important