Study_Guide_for_Lecture_17_-_Retailing

Study_Guide_for_Lecture_17_-_Retailing - Study guide for...

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Study guide for lecture 17: Retailing What is a retailer? 0. Retailing 0. All activities directly related to the sale of goods and services to the ultimate  consumer for personal, non-business use. 1. Retailing facts 1. Size of market 0. Huge - $2 trillion + 1. Concentrated – 0.3% of stores account for 44% of sales 2. Margins 2. Operating expense 28% of sales 3. Profits 3% of sales Selected GDP USA      $12,455 Hong Kong  173 Vietnam        44 Belarus         27   Latvia            14 Annual Revenue Wal Mart   $315 Carrefour      83 Target          53 Safeway       35 Office Depot  14 And this means to you… 2. 15,197,000 Employed in retail (Bureau of labor Statistics, October 2006) 3. 10% of workforce 4. If you haven’t yet worked in a retail situation, you probably will before you retire. 3. Even if you don’t, you need to understand retailing to understand how business  works Marketing 431 Study Guides © 2009 Lecture 17: Retailing Page 1
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Evolution of Retailing 5. Retailing is a moving target.  Successful new models are continually being  introduced while outmoded models are being discarded. 4. Anybody know what a greengrocer is? 0. Two theories 0. Wheel of retailing hypothesis 0. New retail concepts enter at the low end of the market and gradually move  upscale 1. Low prices give them a foothold 2. Gradually move upscale in order to improve margins 0. Target 1. Wal-mart 3. Higher margins create opportunity for new low end outlets 5. Retail life cycle
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Study_Guide_for_Lecture_17_-_Retailing - Study guide for...

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