Advantages And Disadvantages Of Retail

Retail industry sector encompasses companies and individuals that are engaged in selling products to consumers. As the biggest economy in the world, retail industry in the U.S. is one of the biggest industries in the world with total sales of nearly $5 trillion in 2016 as per www.census.gov. National retail foundation’s report mentions retail industry as the largest private sector employer in the United states with about 15 million people working in the industry. Retail industry in the united states comprises brick and mortar stores and a growing e-commerce sector.

In the mid-19th century, retail stores started to establish themselves within the diverse American economy. Some of these retail stores gained massive popularity, which led to chains of establishments with names that almost anyone can recognize; for example, Target, Walmart, Best Buy, Barns & Noble, etc. The name, “big-box” was given to these kinds of stores. With regards to the nationwide expansion of these stores, a valuable question to ask is: are big-box stores good for North America? Evaluating the pros and cons of how they compete, I think that the existence of big-box stores is beneficial; therefore, to keep the reasons simple, I will focus primarily on Walmart (which is the largest big-box store).

The retail industry is a sector of the economy that is comprised of individuals and companies

As we all know, the retail industry is very crucial and is highly competitive. As this company

India is standing on the threshold of a retail revolution and witnessing fast changing retail

•  India's $250 billion retail business is the eighth largest in the world and has the potential to grow 7 per cent by 2011. [McKinsey Report] For a company already dominating the world markets, this is an un-passable opportunity.

In this 21st century, globalization has been growing up fast. People are able to use products from other countries due to the development of economy. Export and import channels have been expanded due to the fact that retailing industry has become more famous and used among the consumers. There are numerous worldwide retail locations around the globe. Among them, the most popular stores are Walmart, Carrefour, Tesco and Metro stores. Clients' needs and wants become similar due to the standardization of the products. One of the major reasons why retailing is commonly popular among consumers is that development of economy. Mckinsey (2012) indicates that extending retail market and discovering potential clients are vital if a retail

Also explains the types of retail expansion, types of retail outlets, marketing elements included in retailing, relationship marketing, trend of retailing, value system, retail segmentation, stages in retail buying process and a report about Tesco Plc. as it is one of the famous retail organization in UK.

The vast and diverse nature of the Indian consumer provides ample variety of needs for retail stores to address. Mom & pop stores, departmental stores, e-commerce platforms, all target different needs of a variety of customers. With consumers becoming more and more comfortable with

Retail is that the sale of products and services from people or businesses to the end-user. Retailers are a part of Associate in nursing integrated system known as the availability chain. A distributor purchases product or merchandise in giant quantities from makers directly or through a wholesale, then sells smaller quantities to the patron for a profit. Marketing are often tired either fastened locations like stores or markets, door-to-door or by delivery. In the 2000’s, associate in Nursing increasing amount of selling is finished victimization on-line websites, electronic payment, then delivered via a mortal or via completely different services.

Retailers are trying to get in contact with the customer every day, and they probably succeed most of the times. Look around when you walk down the street: retailers are trying to get you into their stores by using various marketing tools (e.g. promotions, scent, or their store presentation) (van Herpen, van Nierop, & Sloot, 2012). Or pay attention to the online advertisements when you are visiting a random website: many retailers are trying to lure you to their own website. Retailers are influencing the customer every day, and therefore they are a big player in our market. This becomes clear when we look at the numbers: nowadays, retailers are accountable for ⅓ of the total household spending (i.e. 90 billion euros). Next to that, 10% of the Dutch population works at a retailer (Sloot & Voerman, 2014).

Competitive advantage exists when a firm has strategy, product or an attribute that makes the firm capable of delivering similar benefit to the customers, that of the competitors at a cheaper cost. Having a competitive advantage is not enough the company should be capable of sustaining that particular competitive advantage for a longer period of time.

Approximately two-thirds of the United States’ gross domestic product (GDP) comes from retail consumption (Farfan, 2014). The U.S. retail industry employs over 14 million people (Farfan, 2014). With the unemployment levels slowly lowering as the economy bounces back from the recession, the job market for retail positions at all levels is very competitive (Farfan, 2014).

Retail is the selling of services or goods to consumers to gain a profit. The retail industry is one of the most important and profitable industries in the world economy today. Total annual U.S. retail sales have increased an average of 4.5% between 1993 and 2015, according to the U.S. Census Bureau. The simple idea of creating retail shops, discount stores, and super shops has altered the world of shoppers and consumers worldwide. An estimated two-thirds of the U.S. gross domestic product (GDP) comes from retail consumption (2015 US Retail Industry Overview - Info, Facts, Research, Data, Trivia," 2015).The retail industry is generally divided into several types of retail stores such as, department stores, supermarkets, convenience stores, online stores and malls.

Thistle has completed the Infinity upgrade in six stores, and is on track to complete three more by the end of February.