Page 25 - DMGT552_VISUAL_MERCHANDISING

Visual Merchandising

Notes farmers moved to the cities for work, they rented out their land to those, like Mr. Zhang,
who stayed behind.
“The job losses have not been felt because of the pace of urbanisation and the growth of
cities,” Professor Shi said. “Yes, some small retailers have lost their jobs, but the question
is, have the benefits outweighed the costs? I would certainly say yes.”

Question
What makes Chinese retailers competitive players in the world market?
Source: www.thehindu.com

1.7 Summary

 Retailing is the activity of selling goods and services to last level consumers for their use.
 It is concerned with getting goods in their finished state into the hands of customers who
are prepared to pay for the pleasure of eating, wearing or experiencing particular product
items.
 Retailing is all about the distribution of goods and services.
 Retailers play a key role in the route that products take after originating from a
manufacturer, grower or service-provider to reach the person who consumes.
 The ways in which retailers evolve have been the subject of academic debate for over half
of a century.

 Discount stores are factory outlets that give discount on the MRP.
 Specialty stores are single-category, focusing on individuals and group clusters of the
same class, with high product loyalty.

 Traditional retail refers to these thousands of small, mostly family-owned retail businesses.
They are also referred to as the “unorganised” retail sector.

 The “organised” sector refers to large, modern regional and national retail stores.
 Modern retailing has entered into the Retail market in India as is observed in the form of
bustling shopping centers, multi-storied malls and the huge complexes that offer shopping,
entertainment and food all under one roof.

1.8 Keywords

Category Killers: These are small specialty stores that offer a variety of categories. They are
known as category killers as they focus on specific categories, such as electronics and sporting
goods.
Convenience Stores: They are located in residential areas with slightly higher prices goods due
to the convenience offered.
Departmental Stores: They are general retail merchandisers offering quality products and services.
Discount Stores: These are factory outlets that give discount on the MRP.

E-trailers: They are retailers providing online buying and selling of products and services.
Mom-and-pop Stores: They are family owned business catering to small sections; they are
individually handled retail outlets and have a personal touch.

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