A format is defined as a type of retail mix that is followed or used by a set of retailers that offers some unique benefit that helps in attracting shoppers. It is the mix of variables that retailers use to develop their business strategies and constitute the mix as merchandise assortment, pricing, transactional convenience, preferential approach, channel, experience, and the [...]
Everything you need to know about the functions of retailers. Retailers play a significant role as a medium between manufacturers, wholesalers, suppliers, and consumers. In this context, they perform various functions like sorting, breaking bulk, holding stock, as a channel of communication, storage, advertising and certain additional services. The retailer also serves the manufacturer by performing the function of distributing [...]
Read this article to learn about the 15 different types of retailers with their advantages, disadvantages and other details. Learn about the various types of retail trade, stores, outlet and channels you can open in the market. Also learn about: 1. Mobile Retailers 2. Fixed Retail Shops 3. Survival of Small Traders 4. Department Store 5. Multiple Shops or Chain [...]