Describe the retail environment in the local area.

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Task 1

Describe the retail environment in the local area.

Retailers exist to provide a service to customers with the intention of making a profit. Retailing is one of the most important industries in the UK one that is used by thousands of people every day. It employs around 15% of the workforce with more the 280,000 brick and mortar. The scope of the industry has rapidly expanded, retailers have grown into some of the world’s largest companies e.g. Tesco which are operating in Beijing as well as the UK.

Retailers can be defined in five ways:

Product range

Store type

Store location

Ownership

Size

Product range

Product range can be described into hybrid, department and specialists stores. A specialist store is a  that caters to one specific . Examples of specialist stores include , ,  and . Specialist stores compete with other types of stores such as , ,  and . Specialist stores can be part of a , but independent specialist stores are also common. Like Top Shop they only sell cloths nothing else. Hybrid stores are stores that sell a mixture of products like PC world they sell PCs, software, mp3 player and hardware.

A department store is a  establishment which specializes in satisfying a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice multiple , at variable price points, in all product categories. Department stores usually sell products including , , , , and additionally select other lines of products such as , , toiletries, , photographic equipment, , , and . Like Debenhams in Croydon which is a big department store.

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Store Type

Store type can be broken down into Brick and mortar and click. Brick and mortar stores are stores in which a consumer can go into and view the products they offer like all the stores in North End. Click stores are stores in which a consumer is able to go online 24 hours a day 7 days a week and purchase the product of their desire click stores are cheaper for require less capital to function however the consumer is not able to view before they buy so revenue generated is as much as in store specially for ...

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