wiki3 diff stores
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Different Types of StoresBy Katie Miller
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Three Tiers of Department Stores
• First Tier: upscale, high fashion chains with exclusive designer merchandise and excellent customer service.
• Example: Nordstrom, Neiman Marcus, Bloomingdales, Saks
• Second Tier: Retailers sell more modestly• priced merchandise with less customer
service: • Example: Macy’s• • Third Tier: Value oriented caters to more
price conscious customer• Example: JCPenney, Sears, Kohl’s
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Issues in Department Store
Retailing Competition - Discount Stores on Price -Specialty Stores on Service, Depth
of Assortment Lower Cost by Reducing Services -Centralized Cash Wraps More Sales -Customers Wait for Sale Focus on Apparel and Soft Home Develop Private Labels and
Exclusive Brands
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Full-Line Discount Stores
• Full line discount stores are retailers that offer a broad variety of merchandise, limited service, and low prices.
• Offer both private labels and national brands.• Wal-Mart alone accounts for 66% of full-line
discount sales.• Full-line discount stores confront intense
competition from discount specialty stores that focus on a single category of merchandise.
• (Office depot and Bed & Beyond)
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Issues in Discount Store Retailing
Only Big Three Left Wal-Mart, Kmart, Target
Wal-Mart’s Dominance
Differentiate Strategy Wal-Mart = Low Price and Good
value Target = More Fashionable
Apparel
Competition from Category Specialists Toys-R-Us, Circuit City, Sports
Authority
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Specialty Stores• Specialty stores concentrate
on a limited number of complementary merchandise categories and provide a high level of service in a small stores.
• They tailor their retail strategy toward specific market segments by offering deep but narrow assortments and sales associate expertise.
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Issues in Specialty Store Retailing
Mall-Based Apparel Retailers
Decline in Mall Shopping and Apparel Sales
-Lack of New Fashions -Less Interest in Fashion -Increase Price Consciousness
Lifestyle Formats – Abercrombie and Fitch and Hot Topics
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Drugstores • Drug stores are stores that
concentrate on health and personal grooming merchandise.
• Experiencing sustained sales growth because of the aging population.
• Drug store competition• Pharmacies in discount stores• Prescription mail-order retailers
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Issues in Drug Store Retailing
• Consolidation – Walgreens, CVS, Rite-Aid• Evolution to a New Format• -Stand Alone Sites with Drive Thru Windows• -offering more frequent purchase food items• Improved systems provide personalized
service in the pharmacy
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Category Specialists• Deep and Narrow Assortments of merchandise.
• Use a self-service approach, but they offer assistance in some areas of the store.
• Wholesaling to Business Customers and Retailing to Consumers
• Incredible Growth
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Category Specialists
Continued…• A home Improvement center is a category specialist offering equipment & material used by do-it-yourselfers & contractors to make home improvements.
• Complete category assortment at low prices.
• The largest U.S. home improvement chains • Home depot• Lowes
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Home Improvement
Centers• Displays are warehoused
• Customer Service: How to select and how to use merchandise
• Competition focuses on price, effort to differentiate and services provided
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Off-price Retailers• Also known as Close-out retailers wh0 sell
end-of–the-season items• Offers an assortment of name-brand
merchandise at low prices.• Merchandise might be odd sizes or unpopular
colors/styles.• Buy at lower prices• Purchased at 1/5 to ¼ of the original whole
sale price
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Off-price Retailers• Outlet stores are off price retailers owned by
department or specialty stores.
• Factory Outlets are owned by manufacturers.
• Outlets are viewed to improve their revenues from irregulars, production over-runs, and returned merchandise.