Retail markets and shops have a very ancient history, dating back to antiquity. Retailing involves the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. Retailers satisfy demand is identified through a supply chain. Retailers typically make a variety of strategic level decisions including the type of store, the market to be served, the optimal product assortment, customer service, supporting services and the store's overall market positioning. Once the strategic retail plan is in place, retailers devise the retail mix which includes product, price, place, promotion, personnel and presentation. In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar and online retailing. Digital technologies are also changing the way that consumers pay for goods and services. Retailing support services may also include the provision of credit, delivery services and a range of supporting services.
The term "retailer" is typically applied where a service provider fills the small orders of a large number of individuals, rather than large orders of a small number of wholesale, corporate or government clientele. Shopping generally refers to the act of buying products. Sometimes this is done to obtain final goods, including necessities such as food and clothing; sometimes it takes place as a recreational activity. Recreational shopping often involves window shopping (just looking, not buying) and browsing: it does not always result in a purchase.
Retail shops occur in a diverse range of types and in many different contexts - from strip shopping centres in residential streets through to large, indoor shopping malls. Shopping streets may restrict traffic to pedestrians only. Sometimes a shopping street has a partial or full roof to create a more comfortable shopping environment – protecting customers from various types of weather conditions such as extreme temperatures, winds or precipitation. Forms of non-shop retailing include online retailing (a type of electronic-commerce used for business-to-consumer (B2C) transactions) and mail order.
- 1 Etymology
- 2 History
- 3 Retail strategy
- 4 The retail mix
- 4.1 Product
- 4.2 Place
- 4.3 Pricing strategy and tactics
- 4.4 Personnel and staffing
- 4.5 Presentation
- 5 Shopper profiles
- 6 Types of retail outlets
- 7 Global top ten retailers
- 8 Challenges
- 9 Statistics for national retail sales
- 10 Consolidation
- 11 See also
- 12 References
- 13 Further reading
- 14 External links
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"). Like in French, the word retail in both Dutch and German also refers to the sale of small quantities of items.
Retailing in antiquity
Markets have existed since ancient times. Open air, public markets were known in ancient Babylonia and Assyria. These markets typically occupied a place in the town's centre. Surrounding the market, skilled artisans, such as metal-workers and leather workers, occupied premises in alley ways that led to the open market-place. These artisans may have sold wares directly from their premises, but also prepared goods for sale on market days.  In ancient Greece markets operated within the agora (open space), and in ancient Rome the forum. In antiquity, exchange involved direct selling, merchants or peddlers.
The Phoenicians, noted for their seafaring skills, plied their ships across the Mediterranean, becoming a major trading power by 9th century BCE. The Phoenicians imported and exported wood, textiles, glass and produce such as wine, oil, dried fruit and nuts. Their trading skills necessitated a network of colonies along the Mediterranean coast, stretching from modern day Crete through to Tangiers and onto Sardinia The Phoenicians not only traded in tangible goods, but were also instrumental in transporting culture. The Phoenician's extensive trade networks necessitated considerable book-keeping and correspondence. In around 1500 BCE, the Phoenicians developed a consonantal alphabet which was much easier to learn that the complex scripts used in ancient Egypt and Mesopotamia. Phoenician traders and merchants were largely responsible for spreading their alphabet around the region.  Phoenician inscriptions have been found in archaeological sites at a number of former Phoenician cities and colonies around the Mediterranean, such as Byblos (in present-day Lebanon) and Carthage in North Africa. 
In the Graeco-Roman world, the market primarily served the local peasantry. Local producers, who were generally poor, would sell small surpluses from their individual farming activities, purchase minor farm equipment and also buy a few luxuries for their homes. Major producers such as the great estates were sufficiently attractive for merchants to call directly at their farm-gates, obviating the producers' need to attend local markets. The very wealthy landowners managed their own distribution, which may have involved exporting. The nature of export markets in antiquity is well documented in ancient sources and archaeological case studies.  Markets were also important centres of social life. 
The rise of retailing and marketing in England, the United States and Europe has been extensively studied, but less is known about developments elsewhere.  Nevertheless, recent research suggests that China exhibited a rich history of early retail systems.  From as early as 200 BCE, Chinese packaging and branding was used to signal family, place names and product quality, and the use of government imposed product branding was used between 600 and 900 AD.  Eckhart and Bengtsson have argued that during the Song Dynasty (960–1127), Chinese society developed a consumerist culture, where a high level of consumption was attainable for a wide variety of ordinary consumers rather than just the elite.  The rise of a consumer culture led to the commercial investment in carefully managed company image, retail signage, symbolic brands, trademark protection and sophisticated brand concepts. 
Retailing in Medieval Europe
In Medieval England and Europe, market towns dotted the landscape. Blintiff has investigated the early Medieval networks of market towns and suggests that by the 12th century there was an upsurge in the number of market towns and the emergence of merchant circuits as traders bulked up surpluses from smaller regional, different day markets and resold them at the larger centralised market towns.  The Grand Bazaar in Istanbul is often cited as the world's oldest continuously-operating market; its construction began in 1455. In the 15th century the Mexica (Aztec) market of Tlatelolco was the largest in all the Americas.
In England, provincial shopkeepers were active in almost every market town. These shopkeepers sold general merchandise, much like a contemporary convenience store. For example, William Allen, a mercer in Tamworth who died in 1604 sold spices alongside furs and fabrics.  William Stout of Lancaster retailed sugar, tobacco, nails and prunes at both his shop and at the central markets. His autobiography reveals that he spent most of his time preparing products for sale at the central market, which brought an influx of customers into town. 
English market towns were regulated from a relatively early period. The English monarchs awarded a charter to local Lords to create markets and fairs for a town or village. This charter would grant the lords the right to take tolls and also afford some protection from rival markets. For example, once a chartered market was granted for specific market days, a nearby rival market could not open on the same days. Across the boroughs of England, a network of chartered markets sprang up between the 12th and 16th centuries, giving consumers reasonable choice in the markets they preferred to patronise.  A study on the purchasing habits of the monks and other individuals in medieval England, suggests that consumers were discerning. Purchase decisions were based on purchase criteria such as consumers' perceptions of the range, quality, and price of goods. This informed decisions about where to make their purchases.  Today, traders and showmen jealously guard these historic charters.
Braudel and Reynold have made a systematic study of these European market towns between the thirteenth and fifteenth century. Their investigation shows that in regional districts markets were held once or twice a week while daily markets were common in larger cities. Gradually over time, permanent shops that opened daily began to supplant the periodic markets while peddlers filled in the gaps in distribution. The physical market was characterised by transactional exchange and the economy was characterised by local trading. Braudel reports that, in 1600, goods travelled relatively short distances - grain 5-10 miles; cattle 40-70 miles; wool and wollen cloth 20-40 miles. However, following the European age of discovery, goods were imported from afar - calico cloth from India, porcelain, silk and tea from China, spices from India and South-East Asia and tobacco, sugar, rum and coffee from the New World. 
Luca Clerici has made a detailed study of Vicenza’s food market during the sixteenth century. He found that there were many different types of reseller operating out of the markets. For example, in the dairy trade, cheese and butter was sold by the members of two craft guilds (i.e, cheesemongers who were shopkeepers) and that of the so-called ‘resellers’ (hucksters selling a wide range of foodstuffs), and by other sellers who were not enrolled in any guild. Cheesemongers’ shops were situated at the town hall and were very lucrative. Resellers and direct sellers increased the number of sellers, thus increasing competition, to the benefit of consumers. Direct sellers, who brought produce from the surrounding countryside, sold their wares through the central market place and priced their goods at considerably lower rates than cheesemongers. 
Retailing in the eighteenth and nineteenth century
Savitt has argued that by the eighteenth century, American merchants, who had been operating as importers and exporters, began to specialise in either wholesale or retail roles. They tended not to specialise in particular types of merchandise, often trading as general merchants, selling a diverse range of product types. These merchants were concentrated in the larger cities. They often provided high levels of credit financing for retail transactions. 
Cox and Dannehl suggest that the seventeenth century's shopper's experience was very different than in later periods. The trappings of a modern shop were entirely absent from the sixteenth and seventeenth century store. There were no counters, display cases, chairs, mirrors, changing-rooms, etc. The opportunity for the customer to browse merchandise, touch and feel products was not available until the eighteenth century.  Oustide the major metropolitan cities, few stores could afford to serve one type of clientele exclusively. However, gradually retail shops introduced innovations that would allow them to separate wealthier customers from the "riff raff." One technique was to have a window opening out onto the street from which customers could be served. This allowed the sale of goods to the common people, without encouraging them to come inside. Another solution, that came into vogue from the late sixteenth century was to invite favoured customers into a back-room of the store, where goods were permanently on display. Yet another technique that emerged around the same time was to hold a showcase of goods in the shopkeeper's private home for the benefit of wealthier clients. Samuel Pepys, for example, writing in 1660, describes being invited to the home of a retailer to view a wooden jack.  The eighteenth century English entrepeneurs, Josiah Wedgewood and Matthew Boulton, both staged expansive showcases of their wares in their private residences or in rented halls. 
Retailing in the modern era
The modern era of retailing is defined as the period from the industrial revolution to the 21st century. In major cities, the department store emerged in the middle of the 19th century, and permanently reshaped shopping habits, and the definition of service and luxury. A number of department stores opened across the USA, Britain and England from the mid nineteenth century including; Harrod's of London in 1834; Kendall's in Manchester in 1836; Selfridges of London in 1909; Macy's of New York in 1858; Bloomingdale's in 1861; Sak's in 1867; J.C. Penney in 1902; Le Bon Marché of France in 1852 and Galeries Lafayette of France in 1905. Other twentieth century innovations in retailing included chain stores, mail-order, multi-level marketing (pyramid selling or network marketing, c. 1920s), party plans (c. 1930s) and B2C e-commerce (cyber-peddling).
During this period, retailers worked to develop modern retail marketing practices. Pioneering merchants who contributed to modern retailing pratice and retail marketing methods include: A. R. Stewart, Potter Palmer, John Wanamaker, Montgomery Ward, Marshall Field, Richard Warren Sears, Rowland Macy, J.C. Penney, Fred Lazarus, brothers Edward and William Filene and Sam Walton.  For example, Edward Filene, a proponent of the scientific approach to retail management, developed the concept of Automatic bargain Basement. Although Filene's Basement was not the first ‘bargain basement’ in the U.S., the principles of ‘automatic mark-downs’ generated excitement and proved very profitable. Under Filene's plan, merchandise had to be sold within 30 days or it was marked down; after a further 12 days, the merchandise was further reduced by 25% and if still unsold after another 18 days, a further markdown of 25% was applied. If the merchandise remained unsold after two months, it was given to charity.  Filene was a pioneer in employee relations. He instituted a profit sharing program, a minimum wage for women, a 40-hour work week, health clinics and paid vacations. He also played an important role in encouraging the Filene Cooperative Association, "perhaps the earliest American company union". Through this channel he engaged constructively with his employees in collective bargaining and arbitration processes. Montgomery Ward is credited with developing catalog sales and mail-order systems. His first catalog which was issued in August 1872 consisted of an 8 in × 12 in (20 cm × 30 cm) single-sheet price list, listing 163 items for sale with ordering instructions for which Ward had written the copy. He also devised the catch-phrase "satisfaction guaranteed or your money back" which was implemented in 1875. 
The distinction between “strategic” and “managerial” decision-making is commonly used to distinguish "two phases having different goals and based on different conceptual tools. Strategic planning concerns the choice of policies aiming at improving the competitive position of the firm, taking account of challenges and opportunities proposed by the competitive environment. On the other hand, managerial decision-making is focused on the implementation of specific targets." 
In retailing, the strategic plan is designed to set out the vision and provide guidance for retail decision-makers and provide an outline of how the product and service mix will optimize customer satisfaction. As part of the strategic planning process, it is customary for strategic planners to carry out a detailed environmental scan which seeks to identify trends and opportunities in the competitive environment, market environment, economic environment and statutory-political environment. The retail strategy is normally devised every 3- 5 years by the chief executive officer.
The strategic retail analysis typically includes following elements: 
- * Market analysis
- Market size, stage of market, market competitiveness, market attractiveness, market trends
- * Customer analysis
- Market segmentation, demographic, geographic and psychographic profile, values and attitudes, shopping habits, brand preferences, analysis of needs and wants, media habits
- * Internal analysis
- * Competition analysis
- Availability of substitutes, competitor's strengths and weaknesses, perceptual mapping, competitive trends
- * Review of product mix
- Sales per square foot, stock-turnover rates, profitability per product line
- * Review of distribution channels
- Lead-times between placing order and delivery, cost of distribution, cost efficiency of intermediaries
- * Evaluation of the economics of the strategy
- Cost-benefit analysis of planned activities
The retail strategy, including service quality, has a significant and positive association on customer loyalty. A marketing strategy effectively outlines all key aspects of firms' targeted audience, demographic and preference. In a highly competitive market, the retail strategy sets up long-term sustainability. It focuses on customer relationships, stressing the importance of added value and customer satisfaction.
The retail mix
Once the strategic plan is in place, retail managers turn to the more managerial aspects of planning. A retail mix is devised for the purpose of coordinating day-to-day tactical decisions. The retail mix typically consists of six broad decision layers including product decisions, place decisions, promotion, price, personnel and presentation (also known as physical evidence).  The retail mix is loosely based on the marketing mix, but has been modified in line with the needs of the retail context and is often called the 6 Ps of retailing.  
The primary product-related decisions facing the retailer are the product assortment (what product lines, how many lines and which brands to carry); the type of customer service (high contact through to self-service) and the availability of support services (e.g. credit terms, delivery services, after sales care). These decisions depend on careful analysis of the market, demand, competition as well as the retailer's skills and expertise.
The main characteristics of a company's product assortment are:  The term product assortment refers to the combination of both product breadth and depth.
- (1) the length or number of products lines
- the number of different products carried by a store
- (2) the breadth
- refers to the variety of product lines that a store offers. It is also known as product assortment width, merchandise breadth, and product line width.:
- (3) depth or number of product varieties within a product line
- the number of each item or particular styles carried by a store
- (4) consistency
- how products relate to each other in a retail environment.
For a retailer, finding the right balance betwen breadth and depth can be a key to success. An average supermarket might carry 30,000 - 60,000 different product lines (product length or assortment), but might carry up to 100 different types of toothpaste (product depth).  Specialty retailers typically carry fewer product lines, perhaps as few as 20 lines, but will normally stock greater depth. Costco, for example, carries 5,000 different lines while Aldi carries just 1,400 lines per store. 
Large assortments offer consumers many benefits, notably increased choice and the possibility that the consumer will be able to locate the ideal product. However, for the retailer, larger assortments incur costs in terms of record-keeping, managing inventory, pricing and risks associated with wastage due to spoiled, shopworn or unsold stock. Carrying more stock also exposes the retailer to higher risks in terms of slow-moving stock and lower sales per square foot of store space. On the other hand, reducing the number of product lines can generate cost savings through increased stock turnover by eliminating slow-moving lines, fewer stockouts, increased bargaining power with suppliers, reduced costs associated with wastage and carrying inventory, and higher sales per square foot which means more efficient space utilisation.
When determining the number of product lines to carry, the retailer must consider the store type, store's physical storage capacity, the perishability of items, expected turnover rates for each line and the customer's needs and expectations.
Customer service and supporting services
Customer service is the "sum of acts and elements that allow consumers to receive what they need or desire from [the] 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. Retailers must decide whether to provide a full service outlet or minimal service outlet, such as no-service in the case of vending machines or self-service with only basic sales assistance. In addition, the retailer needs to make decisions about sales support such as customer delivery and after sales customer care.
When making decisions about customer service, the retailer must balance the customer's desire for full-service against the customer's willingness to pay for the cost of delivering services. Self-service is a very cost efficient way of delivering services since the retailer harnesses the customers labour power to carry out many of the retail tasks. However, many customers appreciate full service and are willing to pay a premium for the benefits of full-service. 
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. For retail store owners, it is extremely important to train personnel to deliver excellent customer service skills. By providing excellent customer service, there are more opportunities to 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. Customer service is essential for several reasons. By exemplifying these valued qualities for a customer; companies utilize the experience the customer walks away with. Thus, setting the example for providing "great customer service."  An organization which trains its employees about appropriate servicing the customer will benefit more than those who do not. Customer service training entails instructing personnel in the methods of servicing the customer that will benefit corporations and businesses. This being said, it is important to establish a bond amongst customers-employees known as Customer relationship management.
Types of customer service
There are several ways the retailer can deliver services to consumers:
- 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. jewellery) 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?]
- Click and Commute, where products are ordered online and are picked up via a drive through.
- Ship to Store, where products are ordered online and can be picked up at the retailer's main store
- 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. There is increasing competitor pressure to deliver consumer goods- especially those offered online- in a more timely fashion. Large online retailers such as Amazon.com are continually innovating and as of 2015 offer one-hour delivery in certain areas. They are also working with drone technology to provide consumers with more efficient delivery options. 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.
Place decisions are primarily concerned with consumer access and may involve location, space utilisation and operating hours.
Also see Site selection
Retail stores are typically located where market opportunities are optimal - high traffic areas, central business districts. Selecting the right site can be a major success factor. When evaluating potential sites, retailers often carry out a trade area analysis; a detailed analysis designed to approximate te the potential patronage area. Techniques used in trade area analysis include: Radial (ring) studies; Gravity models and Drive time analyses. 
In addition, retailers may consider a range of both qualitative factors to evaluate to potential sites under consideration:
- * Macro factors
- Macro factors include market characteristics (demographic, economic and socio-cultural), demand, competition and infrastrucure (e.g. the availability of power, roads, public transport systems)
- * Micro factors
- Micro factors include the size of the site (e.g. availability of parking), access for delivery vehicles
Pricing strategy and tactics
The overall pricing strategy is normally established in the company's overall strategic plan. In the case of chain stores, the pricing strategy would be set by head office. Broadly, there are six approaches to pricing strategy mentioned in the marketing literature:
- Operations-oriented pricing: where the objective is to optimise productive capacity, to achieve operational efficiencies or to match supply and demand through varying prices. In some cases, prices might be set to de-market.
- Revenue-oriented pricing: (also known as profit-oriented pricing or cost-based pricing) - where the marketer seeks to maximise the profits (i.e., the surplus income over costs) or simply to cover costs and break even.
- Customer-oriented pricing: where the objective is to maximise the number of customers; encourage cross-selling opportunities or to recognise different levels in the customer's ability to pay.
- Value-based pricing: (also known as image-based pricing) occurs where the company uses prices to signal market value or associates price with the desired value position in the mind of the buyer. The aim of value-based pricing is to reinforce the overall positioning strategy e.g. premium pricing posture to pursue or maintain a luxury image.
- Relationship-oriented oricing: where the marketer sets prices in order to build or maintain relationships with existing or potential customers.
- Socially-oriented pricing: Where the objective is to encourage or discourage specific social attitudes and behaviours. e.g. high tarrifs on tobacco to discourage smoking.
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.
See also Pricing
When decision-makers have determined the broad approach to pricing (i.e., the pricing strategy), they turn their attention to pricing tactics. Tactical pricing decisions are shorter term prices, designed to accomplish specific short-term goals. The tactical approach to pricing may vary from time to time, depending on a range of internal considerations (e.g. such as the need to clear surplus inventory) or external factors (e.g. a response to competitive pricing tactics). Accordingly, a number of different pricing tactics may be employed in the course of a single planning period or across a single year. Typically store managers have the necessary latitude to vary prices on individual linnes providing that they operate within the parameters or the overall strategic approach.
Retailers must also plan for modes of payment - cash, credit, lay-by, electronic Funds Transfer at Point-of-Sale (EFTPOS). All payment options require some type of handling and attract costs. If credit is to be offered, then credit terms will need to be determined. If lay-by is offered, then the retailer will need to take into account the storage and handling requirements. If cash is the dominant mode of payment, the retailer will need to consider small change requirements, the number of cash floats required and small change requirements. A small, but increasing number of retailers are beginning to accept other modes of payment including PayPal and Bitcoin.
Tactics that are commonly used in retail include:
- Discount pricing
Discount pricing is where the marketer or retailer offers a reduced price. Discounts in a variety of forms - e.g. quantity rebates, loyalty rebates, seasonal discounts, periodic or random discounts etc.
- Everyday low prices (EDLP)
Everyday low prices refers to the practice of maintaining a regular low price-low price - in which consumers are not forced to wait for discounting or specials. This method is used by supermarkets.
- High-low pricing
High-low pricing refers to the practice of offering goods at a high price for a period of time, followed by offering the same goods at a low price for a predetermined time. This practice is widely used by chain stores selling homewares. The main disadvantage of the high-low tactic is that consumers tend to become aware of the price cycles and time their purchases to coincide with a low-price cycle.
- Loss leader
A loss leader is a product that has a price set below the operating margin. Loss leadering is widely used in supermarkets and budget-priced retail outlets where the store as a means of generating store traffic. The low price is widely promoted and the store is prepared to take a small loss on an individual item, with an expectation that it will recoup that loss when customers purchase other higher priced-higher margin items. In service industries, loss leadering may refer to the practice of charging a reduced price on the first order as an inducement and with anticipation of charging higher prices on subsequent orders.
- Price bundling
Price bundling (also known as product bundling occurs where two or more products or services are priced as a package with a single price. There are several types of bundles: pure bundles where the goods can only be purchased as package or mixed bundles where the goods can be purchased individually or as a package. The prices of the bundle is typically less than when the two items are purchased separately.
- Price lining
Price lining is the use of a limited number of prices for all product offered by a business. Price lining is a tradition started in the old five and dime stores in which everything cost either 5 or 10 cents. In price lining, the price remains constant but quality or extent of product or service adjusted to reflect changes in cost. The underlying rationale of this tactic is that these amounts are seen as suitable price points for a whole range of products by prospective customers. It has the advantage of ease of administering, but the disadvantage of inflexibility, particularly in times of inflation or unstable prices. Price lining continues to be widely used in department stores where customers often note racks of garments or accessories priced at predetermined price points e.g. separate racks of men's ties, where each rack is priced at $10, $20 and $40.
- Promotional pricing
Promotional pricing is a temporary measure that involves setting prices at levels lower than normally charged for a good or service. Promotional pricing is sometimes a reaction to unforeseen circumstances, as when a downturn in demand leaves a company with excess stocks; or when competitive activity is making inroads into market share or profits.
- Psychological pricing
Psychological pricing is a collective term that refers to a range of tactics designed to have a positive psychological impact. Price tags using the terminal digit "9", ($9.99, $19.99 or $199.99) can be used to signal price points and bring an item in at just under the consumer's reservation price. Psychological pricing is widely used in a variety of retail settings.
Personnel and staffing
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.
Selling and sales techniques
Also see Personal selling
Retailers can employ different techniques to enhance sales volume and to improve the customer experience:
- Add-on, Upsell or Cross-sell.
- Upselling and cross selling are sometimes known as suggetive selling. When the consumer has selected their main purchase, sales assistants can try to sell the customer on a premium brand or higher quality item (up-selling) or can suggest complementary purchases (cross-selling). For instance, if a customer purchases a non-stick frypan, the sales assistant might suggest plastic slicers that do not damage the non-stick surface.
- Selling on value
- Skilled sales assistants find ways to focus on value rather than price. Selling on value often involves identifying a product’s unique features. Adding value to goods or services such as a free gift or buy 1 get 1 free adds value to customers where as the store is gaining sales 
- Know when to close the sale
- Sales staff must learn to recognise when the customer is ready to make a purchase. If the sales person feels that the customer is ready, then they may seek to gain commitment and close the sale. Experienced sales staff soon learn to recognise specific verbal and non-verbal cues that signal the client's readiness to buy. For instance, if a customer begins to handle the merchandise, this may indicate a state of buyer interest. Clients also tend to employ different types of questions throughout the sales process. General questions such as, "Does it come in any other colours (or styles)? indicate only a moderate level of interest. However, when clients begin to ask specific questions, such as "Do you have this model in black?" then this often indicates that the prospect is approaching readiness to buy. When the sales person believes that the prospective buyer is ready to make the purchase, a trial close might be used to test the waters. A trial close is simply any attempt to confirm the buyer's interest in finalising the sale. An example of a trial close, is "Would you be requiring our team to install the unit for you?" or "Would you be available to take delivery next Thursday?" If the sales person is unsure about the prospect's readiness to buy, they might consider using a 'trial close.' The salesperson can use several different techniques to close the sale; including the ‘alternative close’, the ‘assumptive close’, the ‘summary close’, or the ‘special-offer close’, among others.
Presentation refers to the physical evidence that signals the retail image. Physical evidence may include a diverse range of elements - the store itself including premises, offices, exterior facade and interior layout, websites, delivery vans, warehouses, staff uniforms.
Designing retail spaces
The environment in which the retail service encounter occurs is sometimes known as the retail servicescape.  The store environment consists of many elements such as smells, the physical environment (furnishings, layout and functionality), ambient conditions (lighting, tempertature, noise) as well as signs, symbols and artifacts (e.g. sales promotions, shelf space, sample stations, visual communications). Collectively, these elements contribute to the perceived retail servicescape or the overall atmosphere and can influence both the customer's cognitions, emotions and their behaviour within the retail space.
Retail designers pay close attention to the front of the store, which is known as the decompression zone. This is usually an open space in the entrance of the store to allow customers to adjust to their new environment. An open-plan floor design is effective in retail as it allows customers to see everything. In terms of the store's exterior, the side of the road cars normally travel, determines the way stores direct customers. New Zealand retail stores, for instance, would direct customers to the left.
In order to maximise the number of selling opportunities, retailers generally want customers to spend more time in a retail store. However, this must be balanced against customer expectations surrouding convenience, access and realistic waiting times. The overall aim of designing a retail environment is to have customers enter the store, and explore the totality of the physical environment engaging in a variety of retail experiences - from browsing through to sampling and ultimately to purchasing. The retail service environment plays an important role in affecting the customer's perceptions of the retail experience. 
The retail environment not only affects quality perceptions, but can also impact on the way that customers navigate their way through the retail space during the retail service encounter. Layout, directional signage, the placement of furniture and ambient conditions all affect patron's passage through the retail service system. Layout refers to how equipment and furnishings are placed and the relationship between them. In a retail setting, accessibility is an important aspect of layout. For example, the grid layout used by supermarkets with long aisles and gondolas at the end displaying premium merchandise or promotional items, minimises the time customers spend in the environment and makes productive use of available space.  The gondola so favoured by supermarkets is an example of a retail design feature known as a merchandise outpost and which refers to special displays, typically at or near the end of an aisle, whose purpose is to stimulate impulse purchasing or to complement other products in the vicinity. For example, the meat cabinet at the supermarket might use a merchandise outpost to suggest a range of marinades or spice rubs to complement cuts of meat. As a generalisation, merchandise outposts are updated regularly so that they maintain a sense of novelty. 
According to Ziethaml et al, layout affects how easy or difficult it is to navigate through a system. Signs and symbols provide cues for directional purposes and also inform about appropriate behaviour within a store. Functionality refers to extent to which the equipment and layout meeet the goals of the customer.  For instance, in the case of supermarkets, the customer's goal may be to minimise the amount of time spent finding items and waiting at the check-out, while a customer in a retail mall may wish to spend more time exploring the range of stores and merchandise. With respect to functionality of layout, retail designers consider three key issues; circulation- design for traffic-flow and that encourages customers to traverse the entire store; coordination - design that combines goods and spaces in order to suggest customer needs and convenience- design that arranges items to create a degree of comfort and access for both customers and employees. 
The way that brands are displayed is also part of the overall retail design. Where a product is placed on the shelves has implications for purchase likelihood as a result of visibility and access. Products placed too high or too low on the shelves may not turn over as quickly as those placed at eye level.  With respect to access, store designers are increasingly giving consideration to access for disabled and elderly customers.
Through sensory stimulation retailers can engage maximum emotional impact between a brand and its consumers by relating to both profiles; the goal and experience. Purchasing behavior can be influenced through the physical evidence detected by the senses of touch, smell, sight, taste and sound. Supermarkets offer taste testers to heighten the sensory experience of brands. Coffee shops allow the aroma of coffee to waft into streets so that passers-by can appreciate the smell and perhaps be lured inside. Clothing garments are placed at arms' reach, allowing customers to feel the different textures of clothing.  Retailers understand that when customers interact with products or handle the merchandise, they are more likely to make a purchase.
Within the retail environment, different spaces may be designed for different purposes. Hard floors, such as wooden floors, used in public areas, contrast with carpeted fitting rooms, which are designed to create a sense of homeliness when trying on garments.Peter Alexander is renowned for scented candles.
Ambient conditions, such as lighting, temperature and music, are also part of the overall retail environment. It is common for a retail store to play music that relates to their target market. Studies have found that "positively valenced music will stimulate more thoughts and feeling than negatively valenced music", hence, positively valenced music will make the waiting time feel longer to the customer than negatively valenced music.  In a retail store, for example, changing the background music to a quicker tempo may influence the consumer to move through the space at a quicker pace, thereby improving traffic flow. Evidence also suggests that playing music reduces the negative effects of waiting since it serves as a distraction.Jewellery stores like Michael Hill have dim lighting with a view to fostering a sense of intimacy.
The design of a retail store is critical when appealing to the intended market, as this is where first impressions are made. The overall servicescape can influence a consumer’s perception of the quality of the store, communicating value in visual and symbolic ways. Certain techniques are used to create a consumer brand experience, which in the long run drives store loyalty.
Many different shopper profiles can be identified. Retailers develop customised segmentation analyses for each unique outlet. However, it is possible to identify a number of broad shopper profiles. One of the most well-known and widely cited shopper typologies is that developed by Sproles and Kendal in the mid 1980s.    Sproles and Kendall's consumer typology has been shown to be relatively consistent across time and across cultures.   Their typology is based on the consumer's approach to making purchase decisions. 
- Quality conscious/Perfectionist: Quality-consciousness is characterised by a consumer’s search for the very best quality in products; quality conscious consumers tend to shop systematically making more comparisons and shopping around.
- Brand-conscious: Brand-consciousness is characterised by a tendency to buy expensive, well-known brands or designer labels. Those who score high on brand-consciousness tend to believe that the higher prices are an indicator of quality and exhibit a preference for department stores or top-tier retail outlets.
- Recreation-conscious/ Hedonistic: Recreational shopping is characterised by the consumer’s engagement in the purchase process. Those who score high on recreation-consciousness regard shopping itself as a form of enjoyment.
- Price-conscious: A consumer who exhibits price-and-value consciousness. Price-conscious shoppers carefully shop around seeking lower prices, sales or discounts and are motivated by obtaining the best value for money
- Novelty/fashion-conscious: characterised by a consumer’s tendency to seek out new products or new experiences for the sake of excitement; who gain excitement from seeking new things; they like to keep up-to-date with fashions and trends, variety-seeking is associated with this dimension.
- Impulsive: Impulsive consumers are somewhat careless in making purchase decisions, buy on the spur of the moment and are not overly concerned with expenditure levels or obtaining value. Those who score high on impulsive dimensions tend not to be engaged with the object at either a cognitive or emotional level.
- Confused (by over-choice): characterised by a consumer’s confusion caused by too many product choices, too many stores or an overload of product information; tend to experience information overload.
- Habitual / brand loyal: characterised by a consumer’s tendency to follow a routine purchase pattern on each purchase occasion; consumers have favourite brands or stores and have formed habits in choosing, the purchase decision does not involve much evaluation or shopping around.
Some researchers have adapted Sproles and Kendall's methodology for use in specific countries or cultural groups. Consumer decision styles are important for retailers and marketers because they describe behaviours that are relatively stable over time and for this reason, they are useful for market segmentation.
Types of retail outlets
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 in condensed geographical areas along specific streets or districts such as the Magnificent Mile in Chicago, Illinois or at single locations called malls. These are more defined and planned spaces for retail stores and brands.
Retail type by product
Retailers may be classified by the type of product carried:
- Food retailers
Retailers carrying highly perishable foodstuffs such as meat, dairy and fresh produce typically require cold storage facilities. Consumers purchase food products on a very regular purchase cycle - e.g. daily, weekly or monthly.
Softline retailers sell goods that are consumed after a single use, or have a limited life (typically under three years) in they are normally consumed.Soft goods include clothing, other fabrics, footwear, toiletries, cosmetics, medicines and stationery.
- Grocery/ Convenience Retail
Grocery stores, including supermatkets and hypermarkets, along with convenience stores carry a mix of food products and consumable household items such as detergents, cleansers, personal hygiene products. Consumer consumables are collectively known as fast-moving-consumer goods (FMCG) and represent the lines most often carried by supermarkets, grocers and convenience stores. For consumers, these are regular purchases and for the retailer, these products represent high turnover product lines.
- Hardline retailers
Retailers selling consumer durables are sometimes known as hardline retailers — automobiles, appliances, electronics, furniture, sporting goods, lumber, etc., and parts for them. Goods that do not quickly wear out and provide utility over time. For the consumer, these items often represent major purchase decisions. Consumers purchase durables over longer purchase decision cycles. For instance, the typical consumer might replace their family car every 5 years, and their home computer every 4 years.
- Specilist retailers
Retail types by marketing strategy
Types of retailers by marketing strategy include:
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. Example: L'OCCITANE en Provence. The limited size and offering of L'OCCITANE's stores is too small to be considered a specialty store.
- Category killer or specialist
By supplying a wide assortment in a single category for lower prices a category killer retailer can "kill" that category for other retailers. For a few categories, such as electronics, home hardware, office supplies and children's toys, the products are displayed at the centre of the store and a 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. Examples of category killers include Toys "R" Us and Australia's Bunnings and Officeworks
- Chain store
Chain store is one of a series of stores owned by the same company and selling the same merchandise. The aim of the chain stores is to benefit from volume buying discounts and achieve cost savings through economies of scope.
- Concept store
A concept store goes beyond merely selling products, and instead offers an immersive customer experience built around the way that a brand fits with the customer's lifestyle.  Examples include Apple's concept store, Kit Kat's concept store in Japan
- Co-operative store
co-operative store; also known as a co-op or coop is a venture owned and operated by consumers to meet their social, economic and cultural needs.
- 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 purchase consumables as it often works with extended hours, stocking every day.
- Department store
Department stores are very large stores offering a huge assortment of "soft" and "hard" goods which often bear a resemblance to a collection of specialty stores. A retailer of such store carries a variety of categories and has a broad assortment of goods at an average price. They offer considerable customer service.
- Destination store
A detination stoe 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.
Retailers that aim at one particular segment (e.g., high-end retailers focusing on wealthy individuals or niche market).
- Discount store
Discount stores tend to offer a wide array of products and services, but they compete mainly on price. They offer extensive assortments of merchandise at affordable and cut-rate prices. In the past, retailers sold less fashion-oriented brands. However, in more recent years companies such as TJX Companies (Own T.J. Maxx and Marshalls) and Ross Stores are discount store operations increasingly offering fashion-oriented brands on a larger scale.
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.
Hawkers also known as a peddler, costermonger or street vendor; is a vendor of merchandise that is readily portable. Hawkers typically operate in public places such as streets, squares, public parks or gardens or near the entrances of high traffic venues such as zoos, music and entertainment venues. Hawkers are a relatively common sight across Asia.
A hypermarket provides variety and huge volumes of exclusive merchandise at low margins. The operating cost is comparatively less than other retail formats; may be defined as “a combined supermarket and discount store, at least 200000 square feet (18580 square meters) or larger, that sells a wide variety of food and general merchandise at a low price ” (FMI Glossary)
- General store
A general store is a store that supplies the main needs for the local community and is often located in outback or rural areas with low population densities.
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.
- Mom-And-Pop store
A small retail outlet owned and operated by an individual or family. Focuses on a relatively limited and selective set of products.
- Retail market
- 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 plus-size women. 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. 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. They differ from department stores and supermarkets which carry a wide range of merchandise.
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.
- Variety store
Variety stores offer extremely low-cost goods, with a vast array of selection. The downfall to this is that the items are not very high quality.
- 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.
- Warehouse club
Warehouse clubs are membership-based retailers that usually sell a wide variety of merchandise, in which customers may buy large, wholesale quantities of the store's products, which makes these clubs attractive to both bargain hunters and small business owners. The clubs are able to keep prices low due to the no-frills format of the stores. In addition, customers may be required to pay annual membership fees in order to shop.
- Warehouse store
Warehouse stores are retailers housed in warehouses, and offer low-cost, often high-quantity goods with minimal services, e.g. goods are piled on pallets or steel shelves.
Other retail types
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.
- Second-hand retail
- Pawnbrokers 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 and Quikr also offer second-hand goods.
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
|Worldwide Top Ten Retailers|
|Rank||Company||Country of Origin||2014 revenue ($US million)||Dominant format 2014||Number of countries
of operation 2014
|2||Costco||United States||$112,640||Cash & Carry/Warehouse Club||10|
|8||Metro AG||Germany||$85,570||Cash & Carry/Warehouse Club||32|
|9||The Home Depot||United States||$83,176||Home Improvement||4|
|10||Walgreens||United States||$76,392||Drug Store/Pharmacy||2|
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. Competition also affected less than half of retail stores in Kazakhstan, Bulgaria, and Azerbaijan. In all countries the main competition was domestic, not foreign.
|Country||% of retail stores facing competition|
|Bosnia and Herzegovina||79%|
Retail trade provides 9% of all jobs in India and 14% of GDP.
To achieve and maintain a foothold in an existing market, a prospective retail establishment must overcome the following hurdles:
- Regulatory barriers including
- 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 loss in Business.
- Lack of educational infrastructure enabling prospective market entrants to respond to the above challenges.
Statistics for national retail sales
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.
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.
In 2011, the grocery market in six countries of Central Europe 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
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%. Emarketer predicts China will have the largest retail market in the world in 2016.
|Economy||As % of GDP, 1970||As % of GDP, 2012||1970 Value per Capita (2012 Prices)||2012 Value per Capita|
|Antigua and Barbuda||26.4||26.8||$1,081||$3,540|
|Bosnia and Herzegovina||17.9||$807|
|British Virgin Islands||19.7||27.2||$2,178||$8,821|
|Central African Republic||14.0||13.5||$100||$65|
|China: Hong Kong SAR||19.1||29.3||$1,197||$10,772|
|China: Macao SAR||8.0||14.9||$592||$11,629|
|Korea, North D.P.R.||11.7||18.3||$231||$107|
|Democratic Republic of the Congo|
|Iran (Islamic Republic of)||10.6||11.6||$473||$834|
|Laos People's DR||14.2||20.3||$44||$278|
|Papua New Guinea||13.9||9.3||$243||$204|
|Saint Kitts and Nevis||8.4||12.6||$256||$1,800|
|Sao Tome and Principe||25.5||26.2||$273||$363|
|St. Vincent and the Grenadines||12.6||16.5||$231||$1,045|
|State of Palestine||16.7||18.4||$136||$448|
|Syrian Arab Republic||20.4||22.7||$184||$482|
|Trinidad and Tobago||18.9||17.1||$1,323||$2,966|
|Turks and Caicos Islands||38.2||38.0||$1,557||$8,520|
|Tanzania: Mainland, see also Zanzibar||15.0||15.8||$51||$96|
|United Arab Emirates||15.4||12.1||$24,122||$5,024|
|Yemen Arab Republic (Former)||13.7|
|Yemen Democratic (Former)||21.2|
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. 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, the merger between Federated Department Stores Inc with May Department Stores valued at 16.5 bil. USD in 2005 - now Macy's, and the merger between Kmart Holding Corp and Sears Roebuck & Co with a value of 10.9 bil. USD in 2004.
Types of sales person
Types of store or shop:
- Anchor store
- State store
- Big-box store
- Cash and carry (wholesale)
- Category killer
- Chain store
- Confectionery store
- Convenience store
- Department store
- Discount store
- General store
- Grocery store
- Hardware store
- Health food store
- Hobby store
- Liquor store
- Mom and Pop
- Online shopping
- Outlet store
- Pet store
- Pop-up retail
- Shopping mall
- Souk or souq
- Specialist store
- Stand-alone store
- Specialty store
- Surplus store
- Survival store
- Toy store
- Variety store
- Warehouse club
- Warehouse store
Influential thinkers in sales and retail 
- Dale Carnegie - author and lecturer; proponent of salesmanship, public speaking and self improvement
- Marshall Field - pioneer of quality retailing; retail innovations included unconditional refunds, consistent pricing and international imports
- Edward Filene (1860-1937) - pioneer of modern retailing methods
- Fred Lazarus, Jr. - turned his family's small department store into a multi-million dollar operation; known for a number of retail firsts such as the concept of "one low price" (in which no bargaining was required)
- E. St. Elmo Lewis - salesmen for NCR and developer of the AIDA model of selling
- Rowland Hussey Macy - founder of Macy's department store; employed publicity devices such as a store Santa Claus, themed exhibits, and illuminated window displays to draw in customers
- Walter Dill Scott - psychologist and author; wrote a number of books on the psychology of selling in the early twentieth century
- William Thomas Rawleigh -founder of Rawleigh's company with one of the largest travelling sales teams in the United States
- Harry Gordon Selfridge - founder of UK Selfridges; redefined shopping away from essential errand to a pleasurable activity
- Sam Walton - pioneering businessman; demonstrated that large budget-priced department stores could be profitable in small, rural areas; built the Wal-Mart chain
- Montgomery Ward - pioneer of mail order retailing
- Thomas J. Watson -salesman at NCR and CEO of IBM; often described as the "greatest American salesman"
- John Wanamaker - pioneer of the department store; is credited with innovations in merchandising including the 'White Sale' and the first in-store restaurant; known for his humanist policies on employee relations.
- Harper, Douglas. "retail". Online Etymology Dictionary. Retrieved 2008-03-16.
- Bintliff, J., "Going to Market in Antiquity," In Stuttgarter Kolloquium zur Historischen Geographie des Altertums, Eckart Olshausen and Holger Sonnabend (eds), Stuttgart, Franz Steiner, 2002, pp 209-250
- Shaw, Eric H. (2016). "2: Ancient and medieval marketing". In Jones, D.G. Brian; Tadajewski, Mark. The Routledge Companion to Marketing History. Routledge Companions. London: Routledge. p. 24. ISBN 9781134688685. Retrieved 2017-01-03.
Perhaps the only substantiated type of retail marketing practice that evolved from Neolithic times to the present was the itinerant tradesman (also known as peddler, packman or chapman). These forerunners of travelling salesmen roamed from village to village bartering stone axes in exchange for salt or other goods (Dixon, 1975).
- Cartwright, M., "Trade in the Phoenician World," Ancient History Encyclopedia, 1 April 2016, <Online: http://www.ancient.eu/article/881>
- Daniels (1996) p. 94-95.
- Semitic script dated to 1800 BC
- Bintliff, J., "Going to Market in Antiquity," In Stuttgarter Kolloquium zur Historischen Geographie des Altertums, Eckart Olshausen and Holger Sonnabend (eds), Stuttgart, Franz Steiner, 2002, p. 229
- Millar, F., "The World of the Golden Ass," Journal of Roman Studies, Vol. 71, 1981, pp. 63-7
- Southerton, D. (ed.), Encyclopedia of Consumer Culture, Thousand Oaks, CA, Sage, 2011 p. 888
- Moore, K. and Reid., S., "The Birth of the Brand: 4000 years of Branding," Business History, Vol. 50, 2008. pp 419-32.
- Eckhardt, G.M. and Bengtsson. A. "A Brief History of Branding in China," Journal of Macromarketing, Vol, 30, no. 3, 2010, pp 210-221
- Eckhardt, G.M. and Bengtsson. A. "A Brief History of Branding in China," Journal of Macromarketing, Vol, 30, no. 3, 2010, p. 212
- Eckhardt, G.M. and Bengtsson. A. "A Brief History of Branding in China," Journal of Macromarketing, Vol, 30, no. 3, 2010, p. 219
- Bintliff, J., "Going to Market in Antiquity," In Stuttgarter Kolloquium zur Historischen Geographie des Altertums, Eckart Olshausen and Holger Sonnabend (eds), Stuttgart, Franz Steiner, 2002, p.224
- Rebecca M. Seaman (ed.). Conflict in the Early Americas: An Encyclopedia of the Spanish Empire's ... p. 375.
- Cox, N.C. and Dannehl, K., Perceptions of Retailing in Early Modern England, Aldershot, Hampshire, Ashgate, 2007, p,. 129
- Cox, N.C. and Dannehl, K., Perceptions of Retailing in Early Modern England, Aldershot, Hampshire, Ashgate, 2007, pp 154
- Dyer, C., Everyday Life in Medieval England, London, Hambledon and London, 1994, pp 283-303
- Borsay, P. and Proudfoot, L., Provincial Towns in Early Modern England and Ireland: Change, Convergence and Divergence, [The British Academy], Oxford University Press, 2002, pp 65-66
- Casson, M. and Lee, J., "The Origin and Development of Markets: A Business History Perspective," Business History Review, Vol 85, Spring, 2011, doi:10.1017/S0007680511000018, p. 27
- Braudel, F. and Reynold, S., The Wheels of Commerce: Civilization and Capitalism, 15th to 18th Century, Berkely, CA, University of California Press, 1992
- Clerici, L., "Le prix du bien commun. Taxation des prix et approvisionnement urbain (Vicence, XVIe-XVIIe siècle)" [The price of the common good. Official prices and urban provisioning in sixteenth and seventeenth century Vicenza] in I prezzi delle cose nell’età preindustriale /The Prices of Things in Pre-Industrial Times, [forthcoming], Firenze University Press, 2017.
- Savitt, R., "Looking Back to See Ahead: Writing the History of American Retailing," in Retailing: The Evolution and Development of Retailing, A. M. Findlay, Leigh Sparks (eds), pp 138-39
- Cox, N.C. and Dannehl, K., Perceptions of Retailing in Early Modern England, Aldershot, Hampshire, Ashgate, 2007, pp 153-54
- Cox, N.C. and Dannehl, K., Perceptions of Retailing in Early Modern England, Aldershot, Hampshire, Ashgate, 2007, pp 155-59
- McKendrick, N., Brewer, J. and Plumb . J.H., The Birth of a Consumer Society: The Commercialization of Eighteenth Century England, London, 1982.
- Reshaping Retail: Why Technology is Transforming the Industry and How to Win in the New Consumer Dr
- See for example: Daly, Michael (2000-07-23). "King writes off publishers". New York Daily News. NYDailyNews.com. OCLC 9541172. Retrieved 2017-01-04.
King's latest novel, "The Plant," will not be available here or any other bookstore. You will only be able to get it starting tomorrow in the paperless realm of cyberspace, at www.stephenking.com. [...]Six months ago, [Stephen] King made $450,000 cyberpeddling a short story.
- Tsang, D., Kazeroony,H.H. and Ellis, G., The Routledge Companion to International Management Education, London, Routledge, p. 120
- "Pioneers in Marketing: Edward A. Filene, Lincoln Filene and Daniel Bloomfield," Journal of Marketing, Vol. 23, No. 3, 1959, pp. 296-300
- Stillman, Y., "Edward Filene: Pioneer of Social Responsibility," Jewish Currents,September, 2004
- Hevrde, J., "Montgomery Ward's First Catalog," Chicago Tribune, 31 January, 2017, <Online: Hevrdejshttp://www.chicagotribune.com/news/nationworld/politics/chi-chicagodays-firstcatalog-story-story.html>
- Volpato, G. and Stocchetti, A., "Old and new approaches to marketing: The quest of their epistemological roots," MPRA Paper No. 30841, 2009, <Online: https://mpra.ub.uni-muenchen.de/30841>, p. 34
- Lambda, A.J., The Art Of Retailing, McGraw-Hill, (2003), 2008, pp 315-326
- Yu-Jia, H. (2012). The Moderating Effect of Brand Equity and the Mediating Effect of Marketing Mix Strategy On the Relationship Between Service Quality and Customer Loyalty. International Journal or Organizational Innovation , 155-162.
- Monash University, Dictionary, https://business.monash.edu/marketing/marketing-dictionary/r/retail-mix
- Berens, J.S., "The Marketing Mix, the Retailing Mix and the Use of Retail Strategy Continua," Proceedings of the 1983 Academy of Marketing Science (AMS), [Part of the series Developments in Marketing Science], pp 323-327
- Lamb, C.W., Hair, J.F. and McDaniel, C., MKTG 2010, Mason, OH, Cengage, pp 193-94
- Business Dictionary, http://www.businessdictionary.com/definition/product-assortment.html
- Broniarczyk, S.M., "Product Assortment," in Handbook of Consumer Psychology, 2006
- Barry Berman, "5 Ways Retailers Can Make More Profit By Reducing Product Assortment & Managing Websales Like Costco Does," 20 November, 2012, http://upstreamcommerce.com/blog/2012/11/20/5-ways-retailers-profit-reducing-product-assortment-managing-websales-costco
- Lambda, A.J., The Art Of Retailing, McGraw-Hill, (2003), 2008, p. 267
- Philip H. Mitchell 2008, Discovery-Based Retail, Bascom Hill Publishing Group ISBN 978-0-9798467-9-3
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- The names cited in this section are based on the names of retailers cited in Tsang, D., Kazeroony, H.H. and Ellis, G., The Routledge Companion to International Management Education, Oxon, Routledge, 2013, pp 119-120
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- Jones, F., "Retail Stores in the United States, 1800-1860," Journal of Marketing, October, 1936, pp 135-140
- 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.
- Nystrom, P.H., "Retailing in Retrospect and Prospect," in H.G. Wales (ed.) Changing Perspectives in Marketing, Urbana: University of Illinois Press, 19951, pp. 117-138.
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- Investopedia.The Industry Handbook: The Retailing Industry
- National Retail Federation (U.S.-based trade association)