Retail Junction

Global Retail Industry Facts and Figures

retailjunction — Tue, 05 Feb 2008 06:38:27 PST

Global industry-related facts: - Worldwide retail sales are estimated at $7 trillion (USD). - The top 200 largest retailers account for 30% of worldwide demand. - The money spent on household consumption worldwide increased 68% between 1980 and 1998. - Retail sales are generally driven by people’s ability (disposable income) and willingness (consumer confidence) to buy. - Approximately 2,000 companies [...]

Retail Terms: Must Read

retailjunction — Tue, 05 Feb 2008 06:12:28 PST

Power Center Shopping center that is dominated by several large anchors, including discount stores (Target), off-price stores (Marshalls), warehouse clubs (Costco), or category specialists such as Home Depot, Office Depot, Circuit City, Sports Authority, Best Buy, and Toys “R” Us. Regional Center Shopping mall that provides general merchandise (a large percentage of which is apparel) and services in [...]

Retail Terms: Must Read

retailjunction — Mon, 04 Feb 2008 06:11:56 PST

accrued liabilities Liabilities that accumulate daily but are paid only at the end of a period. activity-based costing (ABC) A financial management tool in which all major activities within a cost center are identified, calculated, and then charged to cost objects, such as stores, product categories, product lines, specific products, customers, and [...]

Retail Terms: Must Read

retailjunction — Sun, 03 Feb 2008 06:10:38 PST

retail market A group of consumers with similar needs (a market segment)and a group of retailers using a similar retail format to satisfy those consumer needs. retail strategy A statement that indicates (1) the target market toward which a retailer plans to [...]

Retail Terms: Must Read

retailjunction — Sat, 02 Feb 2008 06:10:02 PST

direct investment The investment and ownership by a retail firm or a division or subsidiary that builds and operates stores in a foreign country. diversification opportunity A strategic investment opportunity that involves an entirely new retail format directed toward a market segment [...]

Retail Terms: Must Read

retailjunction — Fri, 01 Feb 2008 06:09:18 PST

bargaining power of vendors A competitive factor that makes markets unattractive when a few vendors control the merchandise sold in it. In these situations, vendors have an opportunity to dictate prices and other terms, reducing retailer’s profits. barriers to entry Conditions in [...]

Retail Terms: Must Read

retailjunction — Thu, 31 Jan 2008 06:08:01 PST

Multi attribute attitude model A model of customer decision making based on the notion that customers see a retailer or a product as a collection of attributes or characteristics. The model can also be used for evaluating a retailer, product, or vendor. The model uses a [...]

Retail Terms: Must Read

retailjunction — Wed, 30 Jan 2008 06:07:05 PST

demographic segmentation A method of segmenting a retail market that groups consumers on the basis of easily measured, objective characteristics such as age, gender, income and education. fashion Category of merchandise that typically lasts several seasons, and sales can vary dramatically from [...]

Retail Terms: Must Read

retailjunction — Tue, 29 Jan 2008 06:06:15 PST

Multi-channel retailer Retailer that sells merchandise or services through more than one channel. share of wallet The percentage of total purchases made by a customer in a store. Shopping bots Computer programs that simply search for and provide a listing of all Internet [...]

Retail Terms: Must Read

retailjunction — Mon, 28 Jan 2008 06:05:23 PST

Retail chain A firm that consists of multiple retail units under common ownership and usually has some centralization of decision making in defining and implementing its strategy. Services retailer Organization that offers consumers’ services rather than merchandise. Examples include banks, hospital, health [...]

Retail Terms: Must Read

retailjunction — Sun, 27 Jan 2008 06:02:18 PST

Electronic retailing A retail format in which the retailers communicate with customers and offer products and services for sale over the Internet. Factory outlet Outlet store owned by a manufacturer. Franchising A contractual agreement between a franchisor and a franchisee that allows the [...]

Retail Terms: Must Read

retailjunction — Sat, 26 Jan 2008 06:01:09 PST

Conventional supermarket A self-service food store that offers groceries, meat, and produce with limited sales of nonfood items, such as health and beauty aids and general merchandise. Department store A retailer that carries a wide variety and deep assortment, offers considerable [...]