Demographic – The strategy of these retailers is to target representatives of a particular social group.Discount Shops – Although they also offer a wide range of products, they attract customers by and compete on lower prices.Department Stores – Their strategy is to provide a rich arsenal of goods and services.Based on the marketing strategies to which a company resorts, the Retail Sector can also be divided into Businesses specializing in these goods are called “hardline retailers.” The “soft” section of the Retail Industry offers clothing, different apparels, and other fabrics.Īnother way to differentiate between segments of the Retail Industry is to examine strategies that companies use to sell their products. According to the type of the sold products, the Retail Industry can be “hard” and “soft.” The “hard” segment of the retail sells electronics, furniture, sporting gears, and various appliances. The simplest way is to differentiate between products that are sold by companies.
The Retail Sector can be divided in different ways. Selling activities are organized in retail stores, though some products are sold through vending machines, door-to-door sales, or on internet. It is often agreed that at least 80 percent of sales activity must be directed at customers using goods that retailers sell. A retailer is an organization or a person who sells products or services directly to consumers and end-users, that is, to people who would use the offered products. Retail, a word that etymologically comes from the Old French word “tailler” meaning “to cut off and pare,” is reselling. But there are common principles by which all different retailers operate. Among these businesses are department stores, specialty stores, discount stores, and seasonal retailers, all of which sell their products to consumers.
The Retail Industry is rather an umbrella concept, including all businesses that sell goods and services to customers.
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