Traditional Types of Fashion Retailers
- Retailers are categorized into two broad categories – general and specialty
- General merchandise retailers – sell many kinds of merchandise in addition to clothing
- Specialty – cater to a more specific type of customer, more limited merchandise
- Department Stores: general type of retailer most familiar to the public (ie. Macy’s, Harrrods,
Bloomingdales). Department stores reigned as the king of retailers well into the 1960s. Started
to decline in the 1980s. Department stores are organized into specific areas, including
sportswear, electronics, cosmetics, etc.
- Specialty: specialty stores sell carry a limited amount of merchandise. They include shoe stores,
jewelry shops, etc.
- Discount Stores: any retail operation that sells goods at less than full prices.
TIMELESS TREASURES – Terry J. Lundgren
- Macy’s Chairman, President, and CEO
- Aspired to be veterinarian but abandoned that for a career in retailing
- Started as a trainee in Bullocks
Forms of Ownership
- Owners of a single store. These single stores are called ‘mom-and-pop stores’. They are
managed by the owner with few assistants.
- Group of centrally owned stores. They handle similar goods and merchandise. Ex. Sears,
- Chain store buyers are assigned to buy for a specific department. For example, a sportswear
department buyer may only buy swimsuits or accessories.