Unit 39

In: Historical Events

Submitted By MoneyMikes
Words 1929
Pages 8
Unit 29 – Understanding Retailing
M1 - Compare the function of formats and locations in retailing
Retailing is simply the act of selling products in small quantities to members of the public. There are many different formats of retailing that are available to members of the public. The retailing sector is therefore very complex and diverse and filled with many different formats. And the reason for this is so that every retailer will specialise in a particular field of product that will appeal to a specific group of people. For example, there may be a retailer that specialises in selling only sporting goods, another may sell only children’s toys, and another may be a discount store that doesn’t sell anything over the price of £1. When dealing with the different formats of retail, it is also important to look into the different locations these retailers are usually based in as this is usually strategically chosen by the business, as they feel that a particular location will bring them more sales. This report will focus on three particular retail types and they are Hybrid Stores, Supermarkets and Variety Stores. I will be looking at these retail formats, comparing them with each other, as well as looking at their locations.
Hybrid Stores
Hybrid Stores are a fairly modern form of retailing that has been introduced into the business world. It features two separate and different businesses, sharing a building usually one smaller business within one main larger business. This has become a very popular form of retailing in modern times as it gives businesses the opportunity to promote each other. An example of a business like this can be petrol stations. A person can drive to a petrol station to fill up their car, they will then go into the kiosk to pay. In some petrol stations the kiosk will be a completely different business and brand to the provider of the petrol…...

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