Retail stores can be physical stores, online stores, or a combination of both. Physical retail stores are the most common type of retail store. They are businesses that have a physical location where customers can come in and purchase products. Online retail stores are businesses that sell products online without a physical location.
What are the benefits of running a retail store?
Retailers began to realize that giving customers differential experiences and offerings is a great way to increase profits. This gave rise to different types of retail establishments that we see today that depend on the consumers’ behavior and manufacturers’ abilities.
What are the challenges of running a retail store?
Retailers also have to worry about the final price of their individual products. If their item is available elsewhere at a cheaper price, the retailer may be unable to sell their goods. Retailers must stay competitive with deals and keep pace with rapid market fluctuations.
Types of Retail Stores
Based on the merchandise lines carried by the retailer, the different types of retail stores include: 1. Furniture Stores 2. Home Furnishings Stores 3. Automotive Dealers 4. Electronics & Appliance Stores 5. Building Material & Supplies Dealers 6. Lawn & Garden Equipment and Supplies Stores 7. Grocery Stores 8. Specialty Food Stores 9. Beer, Wine &
Retail Store Examples
Examples of retail stores and their store types are: 1. Walmart is a retail store and falls under the grocery store type 2. CVS is a retail store and falls under the health & personal care stores type, and the sub-type of “pharmacies” 3. Sephora is a retail stores that also falls under health & personal case stores type, but under the sub-type of “
Retail Store Components
Retail stores differ in size and shape, based on the product categories they are selling and the segment they belong to. But there are main components that are common among them.
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