Term
| North American Industry Classification System (NAICS) |
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Definition
| collects data on business activity in each country. |
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Term
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Definition
the number of merchandise categories a retailer offers. Also known as breadth of merchandise
(Walmart has a large number of different products) |
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Definition
the number of different items offered in a merchandise category. Also known as depth of merchandise
(Hyvee has a large number of items in a category) |
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Definition
| Each different item of merchandise |
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Term
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Definition
| a large, self-service retail food store offering groceries, meat and produce, as well as some nonfood items, such as health and beauty aids and general merchandise. (30,000 SKU) |
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Term
| limited-assortment supermarkets (Extreme-Value food retailers) |
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Definition
only stock about 2,000 sku
Offer one or two brands and sizes
Designed to maximize efficiency and reduce costs
Offer merchandise at 40-60% lower prices than conventional supermarkets
Save-A-Lot, ALDI (Germany) |
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Definition
| the areas around the outer walls of a supermarket. (Dairy, bakery, meat, florist, produce, deli and coffee bar |
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| the practice of purchasing from factories that pay workers a living wage, considerably more than the prevailing minimum wage, and offer other benefits such as onsite medical treatment |
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Definition
| focuses on reducing the carbon footprint caused by the transportation of food throughout the world |
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Definition
| Large, limited-service stores |
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Definition
-Offer a limited and irregular assortment of food and general merchandise with little service at low prices
-Use low cost locations, inexpensive store design, little customer service
-Low inventory holding costs by carrying a limited assortment of fast selling items |
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Definition
| End of season merchandise that will not be used in following seasons |
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Definition
| merchandise that has minor mistakes in construction |
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| firms that primarily sell services rather than merchandise, are a large and growing part of the retail industry |
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Term
| wholesale-sponsored voluntary cooperative group |
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Definition
| an organization operated by wholesaler offering a merchandising program to small, independent retailers on a voluntary basis |
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Definition
| a contractual agreement between a franchisor and a franchisee that allows the franchisee to operate a retail outlet using a name and format developed and supported by the franchisor |
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Definition
Mom and Pop Stores
Convenience Stores
Supermarkets
Supercenters |
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Term
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Definition
Department Stores
Specialty Stores
Discount Stores
Category Specialists
Off-Price Retailers
Warehouse Clubs
Value Retailers |
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Definition
The fastest growing retail category
Large stores (150,000 – 220,000 square feet) that combine a supermarket with a full-line discount store
One-stop shopping experience
WalMart is now the largest food retailer |
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Term
| Tier one (department stores) |
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Definition
Upscale, high fashion chains with exclusive designer merchandise and excellent customer service
Nordstrom, Neiman Marcus, Saks |
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Term
| Tier two (Department Stores) |
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Definition
Retailers sell more modestly priced merchandise with less customer service
Macy’s, Dillards |
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Term
| Tier three (Department stores) |
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Definition
Value oriented caters to more price conscious customer
JCPenney, Sears, Kohl’s |
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Term
| To deal with eroding market share, department stores are: |
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Definition
-Attempting to increase the amount of exclusive merchandise they sell
-Undertaking marketing campaigns to develop strong images for their stores and brands
-Building better relationships with their key customers (technology based) |
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Term
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Definition
Deep and Narrow Assortments
Destination Stores
“Category Killers” or “Big Box” Stores
Low Price and Service…usually
Wholesaling to Business Customers and Retailing to Consumers
Incredible Growth….Best ROA |
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Term
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Definition
Offer an inconsistent assortment of brand name merchandise at low prices
TJX companies (T.J. Maxx, Marshalls. HomeGoods)
Ross Stores, Burlington Coat Factory, Big Lots, Tuesday Morning |
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Term
| Services vs Merchandise retailers |
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Definition
| Intangibility, simultaneous production and delivery, perishability, inconsistency of the offering |
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Term
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Definition
Independent
- single store establishment
-Wholesale supply-sponsored voluntary group
Corporate (Target)
Franchise |
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