RMG 200 Study Guide - Midterm Guide: North American Industry Classification System, Shoppers Drug Mart, Stock Keeping Unit

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Document Summary

The use of multiple channels to interact with customers. The growing importance of technology to retail success. The initial category specialists in toys, consumer electronics, and home improvement supplies have been joined by a. Increasing competition in the canadian marketplace host of new specialists including sport chek, bed bath and beyond, petsmart. Grocery stores such as loblaws are adding pharmacies and clothing and home d cor products to expand their retail mix. Many new types of retailers coexist with traditional retailers. Number of different types of retailers has grown, the number of competitors within each format is decreasing. The canadian marketplace is powered by a small number of large retailers who dominate in their specific retail category (eg. walmart, shoppers drug mart, best buy, future shop, costco) Trend toward a blurring of retail channels will continue (eg. drugstores move into high end cosmetics and grocery stores invaded pharmacy business)