Retail

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"Retail stores" redirects here. For the comic strip by Norm Feuti, see Retail (comic strip).
Retail
Macys dep store.JPG

Retail is the sale of goods and services from individuals or businesses to the end-user. Retailers are part of an integrated system called the supply chain. A retailer purchases goods or products in large quantities from manufacturers directly or through a wholesale, and then sells smaller quantities to the consumer for a profit. Retailing can be done in either fixed locations like stores or markets, door-to-door or by delivery. In the 2000s, an increasing amount of retailing is done using online websites, electronic payment, and then delivered via a courier or via other services.

Retailing includes subordinated services, such as delivery. The term "retailer" is also applied where a service provider services the needs of a large number of individuals, such as for the public. Shops may be on residential streets, streets with few or no houses or in a shopping mall. Shopping streets may be for pedestrians only. Sometimes a shopping street has a partial or full roof to protect customers from precipitation. Online retailing, a type of electronic commerce used for business-to-consumer (B2C) transactions and mail order, are forms of non-shop retailing.

Shopping generally refers to the act of buying products. Sometimes this is done to obtain necessities such as food and clothing; sometimes it is done as a recreational activity. Recreational shopping often involves window shopping (just looking, not buying) and browsing and does not always result in a purchase.

Etymology[edit]

Retail comes from the Old French word tailler,which means "to cut off, clip, pare, divide" in terms of tailoring (1365). It was first recorded as a noun with the meaning of a "sale in small quantities" in 1433 (from the Middle French retail, "piece cut off, shred, scrap, paring").[1] Like in French, the word retail in both Dutch and German also refers to the sale of small quantities of items.

Types of retail outlets[edit]

Inside a supermarket in Russia
Walnut Market in Katra, Jammu & Kashmir, India

A marketplace is a location where goods and services are exchanged. The traditional market square is a city square where traders set up stalls and buyers browse the stores. This kind of market is very old, and countless such markets are still in operation around the whole world.

In some parts of the world, the retail business is still dominated by small family-run stores, but this market is increasingly being taken over by large retail chains.Most of these stores are called high street stores. Gradually high street stores are being re-grouped at one location called Malls. These are more defined and planned spaces for retail stores and Brands.

Types by products[edit]

Retail is usually classified by type of products as follows:

Types by marketing strategy[edit]

There are the following types of retailers by marketing strategy:

Department store

Department stores are very large stores offering a huge assortment of "soft" and "hard goods; often bear a resemblance to a collection of specialty stores. A retailer of such store carries variety of categories and has broad assortment at average price. They offer considerable customer service.

Discount store

Discount stores tend to offer a wide array of products and services, but they compete mainly on price offers extensive assortment of merchandise at affordable and cut-rate prices. Normally, retailers sell less fashion-oriented brands.

Warehouse store

Warehouses that offer low-cost, often high-quantity goods piled on pallets or steel shelves; warehouse clubs charge a membership fee.

Variety store

Variety stores offer extremely low-cost goods, with limited selection.

Demographic

Retailers that aim at one particular segment (e.g., high-end retailers focusing on wealthy individuals).

Mom-And-Pop

A small retail outlet owned and operated by an individual or family. Focuses on a relatively limited and selective set of products.

Specialty store

A specialty (BE: speciality) store has a narrow marketing focus - either specializing on specific merchandise, such as toys, shoes, or clothing, or on a target audience, such as children, tourists, or oversize women.[5] Size of store varies - some specialty stores might be retail giants such as Toys "R" Us, Foot Locker, and The Body Shop, while others might be small, individual shops such as Nutters of Savile Row.[5] Such stores, regardless of size, tend to have a greater depth of the specialist stock than general stores, and generally offer specialist product knowledge valued by the consumer. Pricing is usually not the priority when consumers are deciding upon a specialty store; factors such as branding image, selection choice, and purchasing assistance are seen as important.[5] They differ from department stores and supermarkets which carry a wide range of merchandise.[6]

Boutique

Boutique or concept stores are similar to specialty stores. Concept stores are very small in size, and only ever stock one brand. They are run by the brand that controls them. An example of brand that distributes largely through their own widely distributed concept stores is L'OCCITANE en Provence. The limited size and offering of L'OCCITANE's stores are too small to be considered a specialty store proper.

General store

A general store is a rural store that supplies the main needs for the local community;

Convenience store

A convenience store provides limited amount of merchandise at more than average prices with a speedy checkout. This store is ideal for emergency and immediate purchases as it often works with extended hours, stocking everyday;

Hypermarkets

Provides variety and huge volumes of exclusive merchandise at low margins. The operating cost is comparatively less than other retail formats.

Supermarket

A supermarket is a self-service store consisting mainly of grocery and limited products on non food items. They may adopt a Hi-Lo or an EDLP strategy for pricing. The supermarkets can be anywhere between 20,000 and 40,000 square feet (3,700 m2). Example: SPAR supermarket.

Mall

A shopping mall has a range of retail shops at a single outlet. They can include products, food and entertainment under one roof. Malls provide 7% of retail revenue in India, 10% in Vietnam, 25% in China, 28% in Indonesia, 39% in the Philippines, and 45% in Thailand.[7]

"Category killer" or specialist

By supplying wide assortment in a single category for lower prices a category killer retailer can "kill" that category for other retailers. For few categories, such as electronics, the products are displayed at the centre of the store and sales person will be available to address customer queries and give suggestions when required. Other retail format stores are forced to reduce the prices if a category specialist retail store is present in the vicinity.

E-tailer

The customer can shop and order through the internet and the merchandise is dropped at the customer's doorstep or an e-tailer. Here the retailers use drop shipping technique. They accept the payment for the product but the customer receives the product directly from the manufacturer or a wholesaler. This format is ideal for customers who do not want to travel to retail stores and are interested in home shopping. However, it is important for the customer to be wary about defective products and non secure credit card transaction. Examples include Amazon.com, Pennyful, and eBay.

Vending machine

A vending machine is an automated piece of equipment wherein customers can drop the money in the machine and acquire the products. Some stores take a no frills approach, while others are "mid-range" or "high end", depending on what income level they target.

Other types[edit]

Other types of retail store include:

  • Automated Retail stores — self-service, robotic kiosks located in airports, malls and grocery stores. The stores accept credit cards and are usually open 24/7. Examples include ZoomShops and Redbox.
  • Big-box stores — encompass larger department, discount, general merchandise, and warehouse stores.

Retailers can opt for a format as each provides different retail mix to its customers based on their customer demographics, lifestyle and purchase behaviour. A good format will lend a hand to display products well and entice the target customers to spawn sales.

Global top ten retailers[edit]

Worldwide Top Ten Retailers[8]
Rank Company Country of Origin 2013 revenue ($US billion)
1 Walmart  United States Decrease $464,162
2 Tesco  United Kingdom Increase $120,052
3 Costco  United States Increase$105,156
4 Carrefour  France Increase $103,555
5 Kroger  United States Decrease $96,751
6 Lidl  Germany Increase $87,236
7 Metro AG  Germany Decrease $85,832
8 The Home Depot  United States Increase $74,754
9 Aldi  Germany Increase $73,035
10 Target Corporation  United States Decrease $71,960

Operations[edit]

Retail pricing[edit]

The pricing technique used by most retailers is cost-plus pricing. This involves adding a markup amount (or percentage) to the retailer's cost. Another common technique is suggested retail pricing. This simply involves charging the amount suggested by the manufacturer and usually printed on the product by the manufacturer.

In Western countries, retail prices are often called psychological prices or odd prices. Often prices are fixed and displayed on signs or labels. Alternatively, when prices are not clearly displayed, there can be price discrimination, where the sale price is dependent upon who the customer is. For example, a customer may have to pay more if the seller determines that he or she is willing and/or able to. Another example would be the practice of discounting for youths, students, or senior citizens.

Competition[edit]

Retail stores may or may not have competitors close enough to affect their pricing, product availability, and other operations. A 2006 survey found that only 38% of retail stores in India believed they faced more than slight competition.[9] Competition also affected less than half of retail stores in Kazakhstan, Bulgaria, and Azerbaijan. In all countries the main competition was domestic, not foreign.[10]

Country  % of Retail Stores Facing Competition [10]
India 38%
Kazakhstan 44%
Bulgaria 46%
Azerbaijan 48%
Uzbekistan 58%
Armenia 58%
Georgia 59%
Kyrgyzstan 59%
Russia 62%
Belarus 64%
Croatia 68%
Romania 68%
Ukraine 72%
Turkey 73%
Serbia 74%
Tajikistan 74%
Slovenia 77%
Latvia 78%
Bosnia and Herzegovina 79%
Moldova 79%
Czech Republic 80%
Slovakia 80%
Poland 83%
Hungary 87%
Estonia 88%
Lithuania 88%
Macedonia 88%
Albania 89%

Retail trade provides 9% of all jobs in India and 14% of GDP.[9]

Staffing[edit]

Because patronage at a retail outlet varies, flexibility in scheduling is desirable. Employee scheduling software is sold, which, using known patterns of customer patronage, more or less reliably predicts the need for staffing for various functions at times of the year, day of the month or week, and time of day. Usually needs vary widely. Conforming staff utilization to staffing needs requires a flexible workforce which is available when needed but does not have to be paid when they are not, part-time workers; as of 2012 70% of retail workers in the United States were part-time. This may result in financial problems for the workers, who while they are required to be available at all times if their work hours are to be maximized, may not have sufficient income to meet their family and other obligations.[11]

Transfer mechanisms[edit]

There are several ways in which consumers can receive goods from a retailer:

  • Counter service, where goods are out of reach of buyers and must be obtained from the seller. This type of retail is common for small expensive items (e.g. jewelry) and controlled items like medicine and liquor. It was common before the 1900s in the United States and is more common in certain countries like India.[which?]
  • Delivery, where goods are shipped directly to consumer's homes or workplaces. Mail order from a printed catalog was invented in 1744 and was common in the late 19th and early 20th centuries. Ordering by telephone was common in the 20th century, either from a catalog, newspaper, television advertisement or a local restaurant menu, for immediate service (especially for pizza delivery), remaining in common use for food orders. Internet shopping - a form of delivery - has eclipsed phone-ordering, and, in several sectors - such as books and music - all other forms of buying. Direct marketing, including telemarketing and television shopping channels, are also used to generate telephone orders. started gaining significant market share in developed countries in the 2000s.
  • Door-to-door sales, where the salesperson sometimes travels with the goods for sale.
  • Self-service, where goods may be handled and examined prior to purchase.
  • Digital delivery or Download, where intangible goods, such as music, film, and electronic books and subscriptions to magazines, are delivered directly to the consumer in the form of information transmitted either over wires or air-waves, and is reconstituted by a device which the consumer controls (such as an MP3 player; see digital rights management). The digital sale of models for 3D printing also fits here, as do the media leasing types of services, such as streaming.

Second-hand retail[edit]

See also: Charity shop

Some shops sell second-hand goods. In the case of a nonprofit shop, the public donates goods to the shop to be sold. In give-away shops goods can be taken for free.

Another form is the pawnshop, in which goods are sold that were used as collateral for loans. There are also "consignment" shops, which are where a person can place an item in a store and if it sells, the person gives the shop owner a percentage of the sale price. The advantage of selling an item this way is that the established shop gives the item exposure to more potential buyers.E-tailers like OLX,Quikr etc. also working on second hand goods sales.

Challenges[edit]

To achieve and maintain a foothold in an existing market, a prospective retail establishment must overcome the following hurdles:

  • Regulatory barriers including
    • Restrictions on real estate purchases, especially as imposed by local governments and against "big-box" chain retailers;
    • Restrictions on foreign investment in retailers, in terms of both absolute amount of financing provided and percentage share of voting stock (e.g., common stock) purchased;
  • Unfavorable taxation structures, especially those designed to penalize or keep out "big box" retailers (see "Regulatory" above);
  • Absence of developed supply chain and integrated IT management;
  • High competitiveness among existing market participants and resulting low profit margins, caused in part by
    • Constant advances in product design resulting in constant threat of product obsolescence and price declines for existing inventory; and
  • Lack of properly educated and/or trained work force, often including management, caused in part by

Sales techniques[edit]

Behind the scenes at retail, there is another factor at work. Corporations and independent store owners alike are always trying to get the edge on their competitors. One way to do this is to hire a merchandising solutions company to design custom store displays that will attract more customers in a certain demographic. The nation's largest retailers spend millions every year on in-store marketing programs that correspond to seasonal and promotional changes. As products change, so will a retail landscape. Retailers can also use facing techniques to create the look of a perfectly stocked store, even when it is not.

A destination store is one that customers will initiate a trip specifically to visit, sometimes over a large area. These stores are often used to "anchor" a shopping mall or plaza, generating foot traffic, which is capitalized upon by smaller retailers.

Customer service[edit]

Customer service is the "sum of acts and elements that allow consumers to receive what they need or desire from your retail establishment." It is important for a sales associate to greet the customer and make himself available to help the customer find whatever he needs. When a customer enters the store, it is important that the sales associate does everything in his power to make the customer feel welcomed, important, and make sure he leaves the store satisfied. Giving the customer full, undivided attention and helping him find what he is looking for will contribute to the customer's satisfaction.[12] For retail store owners, it is extremely important to train yourself and your staff to provide excellent customer service skills. By providing excellent customer service, you build a good relationship with the customer and eventually will attract more new customers and turn them into regular customers. Looking at long term perspectives, excellent customer skills give your retail business a good ongoing reputation and competitive advantage.[13]

Statistics for national retail sales[edit]

United States[edit]

The United States retail sector features the largest number of large, lucrative retailers in the world. A 2012 Deloitte report published in STORES magazine indicated that of the world's top 250 largest retailers by retail sales revenue in fiscal year 2010, 32% of those retailers were based in the United States, and those 32% accounted for 41% of the total retail sales revenue of the top 250.[14]

U.S. Monthly Retail Sales, 1992–2010

Since 1951, the U.S. Census Bureau has published the Retail Sales report every month. It is a measure of consumer spending, an important indicator of the US GDP. Retail firms provide data on the dollar value of their retail sales and inventories. A sample of 12,000 firms is included in the final survey and 5,000 in the advanced one. The advanced estimated data is based on a subsample from the US CB complete retail & food services sample.[15]

CE region[edit]

In 2011 the grocery market in six Central European (CE) countries was worth nearly €107bn, 2.8% more than the previous year when expressed in local currencies. The increase was generated foremost by the discount stores and supermarket segments, and was driven by the skyrocketing prices of foodstuffs. This information is based on the latest PMR report entitled Grocery retail in Central Europe 2012[16]

World[edit]

National accounts show a combined total of retail and wholesale trade, with hotels and restaurants. in 2012 the sector provides over a fifth of GDP in tourist-oriented island economies, as well as in other major countries such as Brazil, Pakistan, Russia, and Spain. In all four of the latter countries, this fraction is an increase over 1970, but there are other countries where the sector has declined since 1970, sometimes in absolute terms, where other sectors have replaced its role in the economy. In the United States the sector has declined from 19% of GDP to 14%, though it has risen in absolute terms from $4,500 to $7,400 per capita per year. In China the sector has grown from 7.3% to 11.5%, and in India even more, from 8.4% to 18.7%.

Retail Trade, Wholesale, Hotels and Restaurants (UN Data)[17]
Economy As % of GDP, 1970 As % of GDP, 2012 1970 Value per Capita (2012 Prices) 2012 Value per Capita
Afghanistan 13.1 8.4 $140 $58
Albania 11.5 22.5 $188 $858
Algeria 17.3 11.9 $572 $639
Andorra 40.5 26.5 $17,532 $10,915
Angola 12.6 15.0 $513 $839
Anguilla 33.9 27.8 $2,166 $5,577
Antigua and Barbuda 26.4 26.8 $1,081 $3,540
Argentina 15.4 15.7 $1,041 $1,825
Armenia 15.2 $510
Aruba 26.9 19.1 $1,140 $4,757
Australia 11.4 11.7 $3,736 $7,960
Austria 17.4 18.8 $3,281 $8,782
Azerbaijan 9.0 $668
Bahamas 28.0 24.5 $5,335 $5,299
Bahrain 12.5 6.4 $3,046 $1,478
Bangladesh 15.9 15.1 $61 $124
Barbados 26.1 24.3 $2,879 $3,890
Belarus 16.8 $1,127
Belgium 12.9 14.2 $2,606 $6,189
Belize 17.0 20.3 $297 $972
Benin 17.7 17.4 $89 $131
Bermuda 17.6 11.2 $8,907 $9,648
Bhutan 8.2 8.2 $30 $205
Bolivia 9.1 11.1 $168 $286
Bosnia and Herzegovina 17.9 $807
Botswana 9.2 16.8 $60 $1,206
Brazil 16.4 21.3 $756 $2,413
British Virgin Islands 19.7 27.2 $2,178 $8,821
Brunei Darussalam 1.0 3.7 $495 $1,536
Bulgaria 14.6 13.8 $272 $966
Burkina Faso 14.9 14.2 $46 $92
Burundi 8.1 18.9 $16 $43
Cambodia 16.6 14.5 $86 $137
Cameroon 27.0 20.4 $270 $245
Canada 13.6 13.0 $3,586 $6,788
Cabo Verde 24.5 18.7 $269 $718
Cayman Islands 12.0 12.2 $3,544 $7,175
Central African Republic 14.0 13.5 $100 $65
Chad 20.5 12.6 $122 $103
Chile 14.9 11.7 $780 $1,801
China 7.3 11.5 $20 $700
China: Hong Kong SAR 19.1 29.3 $1,197 $10,772
China: Macao SAR 8.0 14.9 $592 $11,629
Colombia 13.0 12.4 $439 $959
Comoros 26.2 14.5 $232 $125
Congo 13.2 5.4 $256 $185
Cook Islands 13.7 39.6 $1,069 $5,912
Costa Rica 19.9 16.3 $805 $1,531
Côte d'Ivoire 21.7 14.7 $353 $181
Croatia 15.4 $2,012
Cuba 18.4 15.2 $432 $959
Cyprus 13.6 18.8 $958 $4,975
Czech Republic 13.2 $2,429
Czechoslovakia (Former) 8.0 $127
Korea, North D.P.R. 11.7 18.3 $231 $107
Democratic Republic of the Congo
Denmark 20.5 15.5 $6,169 $8,708
Djibouti 45.0 18.6 $1,470 $294
Dominica 9.6 15.0 $163 $1,046
Dominican Republic 17.2 18.7 $270 $1,073
Ecuador 8.3 12.6 $195 $713
Egypt 11.0 14.4 $75 $454
El Salvador 22.6 21.2 $534 $804
Equatorial Guinea 6.4 0.9 $56 $185
Eritrea 19.4 $98
Estonia 14.0 $2,432
Ethiopia 18.6 $84
Ethiopia (Former) 8.4
Fiji 8.3 18.6 $216 $848
Finland 12.3 13.3 $2,268 $6,103
France 14.8 15.0 $2,969 $5,933
French Polynesia 14.7 16.1 $2,142 $4,212
Gabon 28.1 12.1 $2,918 $1,787
Gambia 27.1 28.8 $143 $147
Georgia 18.9 $685
Germany 12.2 11.4 $2,273 $4,736
Ghana 5.3 10.9 $58 $175
Greece 19.6 20.2 $2,469 $4,527
Greenland 14.0 10.5 $2,219 $4,326
Grenada 18.2 12.3 $294 $913
Guatemala 17.5 21.6 $385 $720
Guinea 34.0 16.2 $132 $86
Guinea-Bissau 20.7 19.4 $124 $99
Guyana 18.9 15.1 $388 $543
Haiti 17.4 18.4 $168 $130
Honduras 17.2 17.1 $247 $399
Hungary 9.8 14.1 $531 $1,760
Iceland 11.3 11.0 $1,873 $4,585
India 8.4 18.7 $31 $283
Indonesia 17.7 13.9 $120 $494
Iran (Islamic Republic of) 10.6 11.6 $473 $834
Iraq 8.2 6.4 $215 $290
Ireland 17.6 18.0 $2,293 $8,295
Israel 9.8 10.0 $1,346 $3,145
Italy 16.0 15.0 $2,755 $4,963
Jamaica 19.4 22.4 $1,056 $1,197
Japan 15.6 13.9 $3,004 $6,525
Jordan 17.9 10.1 $478 $445
Kazakhstan 16.8 $2,086
Kenya 6.8 13.2 $49 $125
Kiribati 12.4 8.6 $439 $150
Kosovo 18.1 $508
Kuwait 8.3 3.2 $13,693 $1,797
Kyrgyzstan 19.7 $233
Laos People's DR 14.2 20.3 $44 $278
Latvia 17.9 $2,467
Lebanon 31.4 27.6 $2,829 $2,522
Lesotho 13.0 9.0 $46 $108
Liberia 11.1 5.0 $106 $18
Libya 2.8 4.9 $543 $763
Liechtenstein 19.9 17.8 $12,763 $28,361
Lithuania 19.9 $2,782
Luxembourg 13.8 13.4 $5,010 $14,141
Madagascar 8.7 11.0 $70 $49
Malawi 3.7 19.8 $10 $70
Malaysia 12.4 16.5 $229 $1,716
Maldives 29.8 30.8 $252 $2,373
Mali 7.3 16.2 $23 $112
Malta 28.7 15.8 $1,104 $3,238
Marshall Islands 24.5 16.1 $531 $607
Mauritania 2.1 7.1 $20 $72
Mauritius 10.0 19.3 $167 $1,782
Mexico 19.3 17.8 $1,063 $1,739
Micronesia 13.1 15.1 $219 $477
Monaco 39.1 30.3 $34,091 $46,027
Mongolia 21.4 11.9 $237 $439
Montenegro 22.6 $1,475
Montserrat 19.4 7.6 $1,051 $974
Morocco 22.5 12.4 $253 $365
Mozambique 12.7 17.6 $31 $102
Myanmar 25.9 20.1 $48 $226
Namibia 8.0 14.7 $326 $832
Nauru 14.8 16.8 $7,812 $2,014
Nepal 4.7 15.4 $14 $101
Netherlands 16.4 15.8 $3,702 $7,283
Netherlands Antilles 16.4 18.2 $1,417 $3,349
New Caledonia 34.7 13.3 $9,624 $5,169
New Zealand 15.5 12.2 $3,607 $4,689
Nicaragua 15.3 16.5 $352 $289
Niger 10.6 14.1 $71 $56
Nigeria 14.6 15.9 $148 $247
Norway 16.7 8.5 $6,109 $8,521
Oman 1.7 7.7 $111 $1,822
Pakistan 18.8 20.6 $99 $248
Palau 16.3 31.2 $1,565 $3,200
Panama 16.8 19.6 $497 $1,864
Papua New Guinea 13.9 9.3 $243 $204
Paraguay 18.3 19.9 $304 $771
Peru 14.2 18.6 $583 $1,271
Philippines 10.7 19.4 $153 $501
Poland 9.2 20.2 $398 $2,590
Portugal 13.7 19.6 $1,119 $3,926
Puerto Rico 16.7 9.4 $2,024 $2,635
Qatar 5.0 5.6 $5,647 $5,208
Korea, South 17.1 11.8 $345 $2,712
Moldova 17.8 $367
Romania 3.1 7.1 $73 $557
Russian Federation 20.7 $2,934
Rwanda 9.9 15.7 $35 $97
Saint Kitts and Nevis 8.4 12.6 $256 $1,800
Saint Lucia 20.6 23.4 $527 $1,707
Samoa 14.8 23.6 $312 $851
San Marino 15.8 12.9 $5,282 $7,643
Sao Tome and Principe 25.5 26.2 $273 $363
Saudi Arabia 4.6 8.2 $799 $2,067
Senegal 22.7 20.4 $218 $207
Serbia 11.0 $582
Seychelles 32.7 29.4 $1,039 $3,285
Sierra Leone 12.9 7.6 $93 $55
Singapore 27.8 19.5 $2,008 $10,179
Slovakia 26.6 $4,470
Slovenia 14.4 $3,155
Solomon Islands 10.2 10.5 $121 $193
Somalia 9.3 10.6 $21 $14
South Africa 14.4 16.0 $847 $1,171
South Sudan 15.4 $143
Spain 15.1 21.4 $1,956 $6,060
Sri Lanka 14.5 20.8 $94 $586
St. Vincent and the Grenadines 12.6 16.5 $231 $1,045
State of Palestine 16.7 18.4 $136 $448
Sudan 16.8 $232
Sudan (Former) 16.8 $0
Suriname 18.3 23.3 $915 $2,183
Swaziland 15.5 9.8 $197 $306
Sweden 12.1 12.8 $3,315 $7,056
Switzerland 19.9 17.8 $10,641 $14,080
Syrian Arab Republic 20.4 22.7 $184 $482
Tajikistan 20.3 $193
TFYR of Macedonia 16.5 $749
Thailand 24.3 18.0 $239 $1,039
Timor-Leste 4.0 $195
Togo 23.5 8.2 $195 $49
Tonga 12.7 14.6 $214 $646
Trinidad and Tobago 18.9 17.1 $1,323 $2,966
Tunisia 11.7 13.5 $147 $558
Turkey 11.1 16.5 $437 $1,757
Turkmenistan 4.2 $274
Turks and Caicos Islands 38.2 38.0 $1,557 $8,520
Tuvalu 9.5 11.2 $182 $451
Tanzania: Mainland, see also Zanzibar 15.0 15.8 $51 $96
Uganda 11.8 22.3 $50 $133
Ukraine 17.5 $679
United Arab Emirates 15.4 12.1 $24,122 $5,024
United Kingdom 15.3 16.5 $2,662 $6,490
United States 19.0 14.5 $4,488 $7,436
Uruguay 12.9 16.5 $810 $2,419
USSR (Former) 8.1
Uzbekistan 9.9 $178
Vanuatu 18.2 21.4 $266 $651
Venezuela 9.5 16.4 $1,152 $2,099
Viet Nam 12.9 16.8 $39 $289
Yemen 16.3 $224
Yemen Arab Republic (Former) 13.7
Yemen Democratic (Former) 21.2
Yugoslavia (Former) 10.4
Zambia 12.6 15.0 $244 $229
Zanzibar 18.2 $119
Zimbabwe 14.9 10.7 $125 $77

Consolidation[edit]

Among retailers and retails chains a lot of consolidation has appeared over the last couple of decades. Between 1988 and 2010, worldwide 40,788 mergers & acquisitions with a total known value of 2.255 trillion USD have been announced.[18] The largest transactions with involvement of retailers in/from the United States have been: the acquisition of Albertson's Inc. for 17 bil. USD in 2006,[19] the merger between Federated Department Stores Inc with May Department Stores valued at 16.5 bil. USD in 2005[20] - now Macy's, and the merger between Kmart Holding Corp and Sears Roebuck & Co with a value of 10.9 bil. USD in 2004.[21]

See also[edit]

Types of store or shop:

Further reading[edit]

  • Krafft, Manfred; Mantrala, Murali K. (eds.) (2006). Retailing in the 21st Century: Current and Future Trends. New York: Springer Verlag. ISBN 3-540-28399-4. 

References[edit]

  1. ^ Harper, Douglas. "retail". Online Etymology Dictionary. Retrieved 2008-03-16. 
  2. ^ "hard goods". Investor Words. Retrieved 22 May 2014. 
  3. ^ Ferrara, J. Susan. "The World of Retail: Hardlines vs. Softlines". Value Line. Retrieved 22 May 2014. 
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