Retailing and WholesalingMyth of RetailingRetailing: A Dynamic SectorWhy do people shop?Retail AtmosphericsDimensions of the ServicescapeSlide 7Paid Opportunity: [email protected] 9Largest RetailersImpact of Non-Store RetailWholesale BasicsRetailing and WholesalingRetailing includes all the activities involved in selling goods and services directly to final consumers.–“The golden three feet” J.C. PenneyMyth of Retailing“Anyone can be successful at retail!”–Frequently the entrepreneurial path–Nearly 50% fail within the first year–Why?Retailing: A Dynamic SectorWheel of RetailingRetail AccordionRetail DialecticWhy do people shop?To buy something, duh!Social experienceDiversionPhysical activityExercise status and authorityPleasure of bargainingSensory stimulationBe with peersRetail AtmosphericsThe servicescape provides a visual metaphor for an organization's total offering. It acts as a package, similar to a product's package, by conveying a total image and suggesting the potential usage and relative quality of the serviceDimensions of the ServicescapeAmbient conditions: temperature, lighting, noise, etc.Dimensions of the ServicescapeSpatial lay out and functionalityPaid Opportunity:[email protected]Survey–M-F 5pm-8:30pm–Sat/Sun 3-7pm (can be broken up into two shifts; either 3-5 or 5-7Dimensions of the ServicescapeSigns, symbols, and artifactsLargest RetailersWalmart •$165 billion for 2000•$ 289 billion for 2004The Home Depot•$ 73 billion for 2004Amazon •$2 billion for 2000•$7 billion for 2004Impact of Non-Store RetailWhy are internet sales significant and growing? –Online retail sales for •1999 were estimated at $66 billion. •2005 were estimated at $143 billionVending machines–1 for every 40 AmericansCataloguesIn-HomeWholesale BasicsWhat do they do?–Sell and promote–Buying and assortment building–Bulk breaking–Warehousing–Transportation–Financing and risk bearing–Market informationAgents and
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