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Retail Buying Pavitar Parkash Singh, Lovely Professional University

Notes Unit 3: Buying for Discount Operations

CONTENTS
Objectives
Introduction

3.1 Classification of Major Discount Organizations
3.1.1 Merchandise Generalists
3.1.2 Specialty Discounters

3.1.3 Warehouse Operations
3.2 Characteristics of the Discount Operations
3.2.1 Merchandising Philosophies
3.2.2 Product Acquisition
3.2.3 Timing of the Purchase

3.3 Independent Discount Retailers
3.4 Buyer’s Role in Purchasing for Discounters
3.4.1 Vendor Relationships

3.4.2 Acquisition of “Off-Limit” Merchandise
3.5 Summary
3.6 Keywords
3.7 Review Questions
3.8 Further Readings

Objectives

After studying this unit, you will be able to:
 Explain the Classification of Major Discount Organizations

 Identify the Characteristics of Discount Operations
 Identify Independent Discount Retailers
 Discuss the Buyer’s Role in Purchasing for Discounters

Introduction

Not too long ago, the traditional department stores and chain organizations were the favorite
places for shoppers to make a large percentage of their wearable and household purchases. At
these stores, replete with a wealth of brand names and private labels, the consumers availed
themselves of marquee labels and nationally advertised brands as well as lesser-known offerings
to satisfy their needs. It would not be long before Americans were given a chance to show their
buying savvy and satisfy themselves with quality merchandise, albeit at value prices. The
discount organizations came to life, with such names as Target and Walmart, leading the way,
with a vast assortment of apparel, accessories, home furnishings, and small appliance product

36 LOVELY PROFESSIONAL UNIVERSITY