Classification of Merchandise in Retail
Retailing involves selling products or services directly to consumers on a small scale. Retail operations can be broadly categorized into two main types: general merchandise stores and non-store retail formats.
Department Stores:
- Structure: Department stores are large retail establishments divided into various departments, each specializing in different types of products.
- Range of Products: They offer a diverse array of products under one roof, often with specialized sections for different categories.
- Examples:
- Discount Stores: Such as Walmart, which offer a wide range of products at lower prices.
- Outlet Stores: Like Nike outlets, which sell brand-name goods at discounted rates.
- Category-Specific Stores: For instance, Toys “R” Us, which focuses on toys and games.
Full-Line Discount Stores:
- Products: These stores provide a broad selection of products, including groceries, clothing, and home appliances, all at discounted prices.
- Variety: They feature numerous brand products under one roof, making them a one-stop-shop for a wide range of needs.
- Examples: Walmart and Target, which offer a diverse assortment of products at reduced prices.
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