Types of Retailers Flashcards

Study Notes

Types of Retailers

Specialty Store
- Offers a narrow product line with a deep selection, focusing on specific categories.
- Examples include REI (outdoor gear), Radio Shack (electronics), and Williams-Sonoma (kitchenware).
Department Store
- Features multiple product lines, including clothing and home goods, organized into separate departments.
- Managed by specialist buyers, examples include Macy's, Sears, and Neiman Marcus.
Supermarket
- A large, self-service store designed to meet all grocery and household product needs at low costs.
- Operates on a low-margin, high-volume model with examples like Kroger, Safeway, and Publix.
Convenience Store
- A small store typically located in residential areas, open long hours to provide quick access to high-turnover products.
- Prices are slightly higher due to the convenience factor, with examples including 7-Eleven and Circle K.
Discount Store
- Sells standard merchandise at lower prices while operating on lower margins and higher sales volume.
- Notable examples are Walmart, Target, and Kohl's.
Off-Price Retailer
- Offers merchandise purchased at lower-than-regular wholesale prices, often including leftover goods and overruns.
- Examples include TJ Maxx (independent) and warehouse clubs like Costco and Sam's Club.
Superstore
- A very large store that caters to consumers' total needs for both food and nonfood items.
- Examples include Walmart Supercenter and SuperTarget; also features category killers like Best Buy.
Category Killer
- A specialized store that offers an extensive selection of a particular category, often out-competing local retailers.
- Staffed by knowledgeable employees, with examples like Home Depot and PetSmart.