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In class notes chpt 2

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Ryerson University
Retail Management
RMG 100
Frances Gunn

Chapter 2: Types of Retailer • Pick target market and develop a strategy to satisfy their needs • (Retail format report: have Communication mix) • Ex) coffee can be bought at different formats: Starbucks vs. Macdonald’s o Variety o Type of assortments o Price • Elements in retail mix o Customer service o Assortment o Pricing o Store design • Different retail mix for different retailers • Trends in retailing: Globalization, growth in services retailer, failure of pure electronic retailers (etoys, Webvan etc.) -> customers tend to shop at more well known retailers such as Best Buy • Retailer characteristic: • How retailer chooses their format depends on the Price-Cost trade off • Type of merchandise: variety and assortments offered • Variety ex) a store carrying: consumer electronics, bike, ring • Broad and shallow: discount stores • Broad and deep: department • Narrow and shallow: value and convince (convenient store) • Narrow and deep: specialty/category killers • Depends on price to see if there will be a lot of service even though there could be a large variety of assortment • Low price = less service (likely to include other products) Characteristics of General merchandisers Discount stores: Variety: broad assortment: average to shallow Service: low Prices: low Size: 60-80 sq. ft. SKUs: 30 Location: stand alone, power strip centers Giant Tiger • Low budget • Broad, lots of assortment (deep) • Leaves large footprint Specialty Retailing- provides narrow variety Issues they’re facing: compete with department, supply chain is an issue • Very competitive and hard to survive • So they have cheaper rents, shorter lease terms People rather go to category killer than department for deeper assortment which means customers can find something specific. They also have lower price. Department stores: Competition with discount stores on price, specialty stores on services, depth of assortment Lower cost by reducing services More sales (customers wait for sale) Focus on apparel and soft home Develop private labels and exclusive brands Category Specialist Deep and narrow assortment at low prices with services Wholesaling to business customers and retailing to consumer Fast growth Ex) best buy, Lowe’s, Staples Drug Stores In need of employees Shopper’s new murale stores Narrow (just beauty products) Assortment is deep Murale: Rebranding, less expensive, provide private brand different level of their store Quality is different, a deeper assortment Management difference: more selection process for employees, more focused on make up (unlike what they do in shoppers), Psychographic is more important for this: targeting women, brand conce
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