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Retail is the sale of goods and services from individuals or businesses to the end-user. Retailers are part of an integrated system called the supply-chain. A retailer purchases goods or products in large quantities from manufacturers or directly through a wholesaler, and then sells smaller quantities to the consumer for a profit. Retailing can be done in either fixed locations or online. Retailing includes subordinated services, such as delivery. The term "retailer" is also applied where a service provider services the needs of a large number of individuals, such as a public utility, like electric power.

Shops may be on residential streets, shopping streets with few or no houses or in a shopping mall. Shopping streets may be for pedestrians only. Sometimes a shopping street has a partial or full roof to protect customers from precipitation. Online retailing, a type of electronic commerce used for business-to-consumer (B2C) transactions and mail order, are forms of non-shop retailing.

Shopping generally refers to the act of buying products. Sometimes this is done to obtain necessities such as food and clothing; sometimes it is done as a recreational activity. Recreational shopping often involves window shopping (just looking, not buying) and browsing and does not always result in a purchase. See 2011 Top 250 Global Retailers

Etymology[link]

The Apple Store retail location on the Magnificent Mile in Chicago.

The world's only Garmin retail location is located on the Magnificent Mile in Chicago.

Retail comes from the Old French word tailer (compare modern French retailler), which means "to cut off, clip, pare, divide" in terms of tailoring (1365). It was first recorded as a noun with the meaning of a "sale in small quantities" in 1433 (from the Middle French retail, "piece cut off, shred, scrap, paring").^[1] Like the French, the word retail in both Dutch and German (detailhandel and Einzelhandel, respectively) also refers to the sale of small quantities of items.

Types of retail outlets[link]

San Juan de Dios Market in Guadalajara, Jalisco

Inside a supermarket in Russia

A marketplace is a location where goods and services are exchanged. The traditional market square is a city square where traders set up stalls and buyers browse the merchandise. This kind of market is very old, and countless such markets are still in operation around the whole world.

In some parts of the world, the retail business is still dominated by small family-run stores, but this market is increasingly being taken over by large retail chains.

Retail is usually classified by type of products as follows:

• Food products
• Hard goods or durable goods ("hardline retailers") - appliances, electronics, furniture, sporting goods, etc. Goods that do not quickly wear out and provide utility over time.
• Soft goods or consumables - clothing, apparel, and other fabrics. Goods that are consumed after one use or have a limited period (typically under three years) in which you may use them.

There are the following types of retailers by marketing strategy:

• Department stores - very large stores offering a huge assortment of "soft" and "hard goods; often bear a resemblance to a collection of specialty stores. A retailer of such store carries variety of categories and has broad assortment at average price. They offer considerable customer service.
• Discount stores - tend to offer a wide array of products and services, but they compete mainly on price offers extensive assortment of merchandise at affordable and cut-rate prices. Normally retailers sell less fashion-oriented brands.
• Warehouse stores - warehouses that offer low-cost, often high-quantity goods piled on pallets or steel shelves; warehouse clubs charge a membership fee;
• Variety stores - these offer extremely low-cost goods, with limited selection;
• Demographic - retailers that aim at one particular segment (e.g., high-end retailers focusing on wealthy individuals).
• Mom-And-Pop : is a retail outlet that is owned and operated by individuals. The range of products are very selective and few in numbers. These stores are seen in local community often are family-run businesses. The square feet area of the store depends on the store holder.
• Specialty stores: A typical speciality store gives attention to a particular category and provides high level of service to the customers. A pet store that specializes in selling dog food would be regarded as a specialty store. However, branded stores also come under this format. For example if a customer visits a Reebok or Gap store then they find just Reebok and Gap products in the respective stores.
• General store - a rural store that supplies the main needs for the local community;
• Convenience stores: is essentially found in residential areas. They provide limited amount of merchandise at more than average prices with a speedy checkout. This store is ideal for emergency and immediate purchases.
• Hypermarkets: provides variety and huge volumes of exclusive merchandise at low margins. The operating cost is comparatively less than other retail formats.
• Supermarkets: is a self service store consisting mainly of grocery and limited products on non food items. They may adopt a Hi-Lo or an EDLP strategy for pricing. The supermarkets can be anywhere between 20,000 and 40,000 square feet (3,700 m²). Example: SPAR supermarket.
• Malls: has a range of retail shops at a single outlet. They endow with products, food and entertainment under a roof.
• Category killers or Category Specialist: By supplying wide assortment in a single category for lower prices a retailer can "kill" that category for other retailers. For few categories, such as electronics, the products are displayed at the centre of the store and sales person will be available to address customer queries and give suggestions when required. Other retail format stores are forced to reduce the prices if a category specialist retail store is present in the vicinity.
• E-tailers: The customer can shop and order through internet and the merchandise are dropped at the customer's doorstep. Here the retailers use drop shipping technique. They accept the payment for the product but the customer receives the product directly from the manufacturer or a wholesaler. This format is ideal for customers who do not want to travel to retail stores and are interested in home shopping. However it is important for the customer to be wary about defective products and non secure credit card transaction. Example: Amazon, Pennyful and eBay.
• Vending Machines: This is an automated piece of equipment wherein customers can drop in the money in machine and acquire the products.

Some stores take a no frills approach, while others are "mid-range" or "high end", depending on what income level they target.

Other types of retail store include:

• Automated Retail stores are self service, robotic kiosks located in airports, malls and grocery stores. The stores accept credit cards and are usually open 24/7. Examples include ZoomShops and Redbox.
• Big-box stores encompass larger department, discount, general merchandise, and warehouse stores.
• Convenience store - a small store often with extended hours, stocking everyday or roadside items;
• General store - a store which sells most goods needed, typically in a rural area;

Retailers can opt for a format as each provides different retail mix to its customers based on their customer demographics, lifestyle and purchase behaviour. A good format will lend a hand to display products well and entice the target customers to spawn sales.

Retail pricing[link]

The pricing technique used by most retailers is cost-plus pricing. This involves adding a markup amount (or percentage) to the retailer's cost. Another common technique is suggested retail pricing. This simply involves charging the amount suggested by the manufacturer and usually printed on the product by the manufacturer.

In Western countries, retail prices are often called psychological prices or odd prices. Often prices are fixed and displayed on signs or labels. Alternatively, when prices are not clearly displayed, there can be price discrimination, where the sale price is dependent upon who the customer is. For example, a customer may have to pay more if the seller determines that he or she is willing and/or able to. Another example would be the practice of discounting for youths, students, or senior citizens..

Transfer mechanism[link]

There are several ways in which consumers can receive goods from a retailer:

• Counter service, where goods are out of reach of buyers and must be obtained from the seller. This type of retail is common for small expensive items (e.g. jewelry) and controlled items like medicine and liquor. It was common before the 1900s in the United States and is more common in certain countries like India.^[which?]
• Delivery, where goods are shipped directly to consumer's homes or workplaces. Mail order from a printed catalog was invented in 1744 and was common in the late 19th and early 20th centuries. Ordering by telephone is now common, either from a catalog, newspaper, television advertisement or a local restaurant menu, for immediate service (especially for pizza delivery). Direct marketing, including telemarketing and television shopping channels, are also used to generate telephone orders. started gaining significant market share in developed countries in the 2000s.
• Door-to-door sales, where the salesperson sometimes travels with the goods for sale.
• Self-service, where goods may be handled and examined prior to purchase

Second-hand retail[link]

Some shops sell second-hand goods. In the case of a nonprofit shop, the public donates goods to the shop to be sold. In give-away shops goods can be taken for free.

Another form is the pawnshop, in which goods are sold that were used as collateral for loans. There are also "consignment" shops, which are where a person can place an item in a store and if it sells, the person gives the shop owner a percentage of the sale price. The advantage of selling an item this way is that the established shop gives the item exposure to more potential buyers.

Challenges[link]

To achieve and maintain a foothold in an existing market, a prospective retail establishment must overcome the following hurdles:

• Regulatory barriers including
  • Restrictions on real estate purchases, especially as imposed by local governments and against "big-box" chain retailers;
  • Restrictions on foreign investment in retailers, in terms of both absolute amount of financing provided and percentage share of voting stock (e.g., common stock) purchased;
• Unfavorable taxation structures, especially those designed to penalize or keep out "big box" retailers (see "Regulatory" above);
• Absence of developed supply chain and integrated IT management;
• High competitiveness among existing market participants and resulting low profit margins, caused in part by
  • Constant advances in product design resulting in constant threat of product obsolescence and price declines for existing inventory; and
• Lack of properly educated and/or trained work force, often including management, caused in part by
  • Lack of educational infrastructure enabling prospective market entrants to respond to the above challenges.

Sales techniques[link]

Behind the scenes at retail, there is another factor at work. Corporations and independent store owners alike are always trying to get the edge on their competitors. One way to do this is to hire a merchandising solutions company to design custom store displays that will attract more customers in a certain demographic. The nation's largest retailers spend millions every year on in-store marketing programs that correspond to seasonal and promotional changes. As products change, so will a retail landscape. Retailers can also use facing techniques to create the look of a perfectly stocked store, even when it is not.

A destination store is one that customers will initiate a trip specifically to visit, sometimes over a large area. These stores are often used to "anchor" a shopping mall or plaza, generating foot traffic, which is capitalized upon by smaller retailers.

Customer service[link]

Customer service is the "sum of acts and elements that allow consumers to receive what they need or desire from your retail establishment." It is important for a sales associate to greet the customer and make himself available to help the customer find whatever he needs. When a customer enters the store, it is important that the sales associate does everything in his power to make the customer feel welcomed, important, and make sure he leave the store satisfied. Giving the customer full, undivided attention and helping him find what he is looking for will contribute to the customer's satisfaction.^[2]

Statistics for national retail sales[link]

United States[link]

The United States retail sector features the largest number of large, lucrative retailers in the world. A 2012 Deloitte report published in STORES magazine indicated that of the world's top 250 largest retailers by retail sales revenue in fiscal year 2010, 32% of those retailers were based in the United States, and those 32% accounted for 41% of the total retail sales revenue of the top 250.^[3]

Since 1951, the U.S. Census Bureau has published the Retail Sales report every month. It is a measure of consumer spending, an important indicator of the US GDP. Retail firms provide data on the dollar value of their retail sales and inventories. A sample of 12,000 firms is included in the final survey and 5,000 in the advanced one. The advanced estimated data is based on a subsample from the US CB complete retail & food services sample.^[4]

Other countries[link]

Consolidation[link]

Among retailers and retails chains a lot of consolidation has appeared over the last couple of decades. Between 1988 and 2010, worldwide 40'788 mergers & acquisitions with a total known value of 2'255 bil. USD have been announced.^[5] The largest transactions with involvement of retailers in/from the United States have been: the acquisition of Albertson's Inc. for 17 bil. USD in 2006,^[6] the merger between Federated Department Stores Inc with May Department Stores valued at 16.5 bil. USD in 2005^[7] - now Macy's, and the merger between Kmart Holding Corp and Sears Roebuck & Co with a value of 10.9 bil. USD in 2004.^[8]

See also[link]

Types of store or shop:

Further reading[link]

• Krafft, Manfred; Mantrala, Murali K. (eds.) (2006). Retailing in the 21st century: current and future trends. New York: Springer Verlag. ISBN 3-540-28399-4. 

References[link]

External links[link]

Look up retailing or retail in Wiktionary, the free dictionary.

Wikibooks has a book on the topic of Marketing

• 2011 Top 250 Global Retailers
• ECRoPEDIA - Free Global Collection of Retail/FMCG Best practices by ECR Community
• Investopedia.The Industry Handbook: The Retailing Industry
• National Retail Federation (U.S.-based trade association)
• Retail Guru - Learn about retail, best retailing practices from around the world

This biographical article needs additional citations for verification. Please help by adding reliable sources. Contentious material about living persons that is unsourced or poorly sourced must be removed immediately, especially if potentially libelous or harmful. (May 2010)

Harry Zephaniah Johnson (known as Harry J, born July 6, 1945, Westmoreland) is a Jamaican reggae record producer of African, Sicilian and Scottish descent. He is the head of the landmark Harry J. Records, located at 10 Roosevelt Avenue, Kingston 6, Jamaica WI.

Biography[link]

Johnson started to play music with the Virtues as a bass player before moving into management of the group.^[1] When the band split up he worked as an insurance salesman.^[1] He first appeared as a record producer in 1968, when he launched his own record label, "Harry J", by releasing The Beltones' local hit "No More Heartaches", one of the earliest reggae songs to be recorded.^[1] His agreement with Coxsone Dodd allowed him to use Studio One's facilities, where he produced the hit "Cuss Cuss" with singer Lloyd Robinson, which became one of the most covered riddims in Jamaica.^[1] Johnson also released music under a subsidiary label, Jaywax.

In October 1969, he met success in the UK with "The Liquidator" (number 9 in the UK Singles Chart) recorded with his sessionband, The Harry J All Stars (it was also a hit in 1980, reaching number 42).^[1][2][3] This single became one of the anthems of the emerging skinhead youth subculture; together with other instrumental hits released in the UK through his own subdivision "Harry J" on Trojan Records, on a compilation album of the same name (see cover). During the 2008 United States presidential election, presidential candidate Senator Barack Obama campaign used the song "I'll Take You There" by The Staple Singers at the closing of his stump speeches on the campaign trail. The beginning of the song "I'll take you there" features an introduction which was lifted from "The Liquidator".

In the beginning of the 1970s he enjoyed another big success with the vocal duo Bob and Marcia with the song "Young, Gifted and Black".^[1] His productions also included Jamaican hits with DJs like Winston Blake or Scotty among others, and many dub versions.

Harry J Studio[link]

Johnson is mainly known for his Harry J Studio where Bob Marley & The Wailers recorded some of their albums in the 1970s.^[4] The studio was also a must stop hangout of many British and other musicians including the Rolling Stones, The Who, and Grace Jones. In addition, Chris Blackwell the founder of Island Records the original label of the band U2 could be found hanging out in the sound room prior to moving to England in the early 1970s.

In 1972, Harry Johnson sold his record shop and set up his own recording studio "Harry J", on 10 Roosevelt Avenue, Uptown Kingston, where he employed Sid Bucknor and later Sylvan Morris as resident recording engineer.^[1] Harry J Studio soon became one of the most famous Jamaican studios after having recorded several Bob Marley & The Wailers albums from 1973 to 1976 before the Tuff Gong era; such as Rastaman Vibration and Catch A Fire.

Johnson's deal with Island Records led him to record artists such as Burning Spear and The Heptones. Throughout the 1970s and the 1980s, assisted by former Studio One sound engineer Sylvan Morris, he also recorded artists like Ken Boothe, Augustus Pablo, The Cables and the American pop singer, Johnny Nash, and produced albums by Zap Pow and Sheila Hylton. In 2000, after seven years of inactivity, Stephen Stewart (Engineer, Producer, Musician), who worked in the early years alongside Sylvan Morris, refurbished, re-equipped and reopened Harry J Studio. Since then under the management of Stephen Stewart the studio has seen the return of people like Burning Spear, Toots, Shaggy, Sly & Robbie, and newer projects of Shakira, Papa Sam/Kirk Franklyn, Luciano and Sizzla just to mention a few. The studio appears in the movie, Rockers.

Personal life[link]

Johnson married and divorced Murna Webley; he has fathered several children: Paul Baines Johnson, Melanie Catanese, Harry Jermaine Johnson (deceased), Hayley Johnson (deceased), Tara Johnson and Dale Johnson.

Discography[link]

Harry J Allstars[link]

• Harry J Allstars - The Liquidator - 1969 - Harry J/Trojan
• Harry J Allstars - Liquidator: The Best Of The Harry J Allstars - 2003 - Trojan
• Harry J Allstars - Dubbing At Harry J's 1972-1975 - Jamaican Recordings

Compilations[link]

• Various Artists - Reggae Movement - 1970 - Harry J/Trojan
• Various Artists - What Am I To Do - 1970 - Harry J/Trojan
• Various Artists - Reggay Roots - 1977 - Harry J
• Various Artists - Computer - 1985 - Sunset
• Various Artists - The Return Of the Liquidator: 30 Skinhead Classics 1968-1970 - 1989 - Trojan - 2 CD

As a producer[link]

• Sylvan Morris & Harry J - Cultural Dub - 1978 - Harry J
• Sylvan Morris - Jah Jah Dub - Roosevelt
• The Heptones - Book Of Rules - 1973 - Jaywax
• The Heptones - Cool Rasta - 1976 - Trojan
• Leslie Butler - Ja-Gan - 1975 - Trojan
• Zap Pow - Revolution - 1976 - Trojan
• Lloyd Willis - Gits Plays Bob Marley's Greatest Hits - 1977 - Harry J
• The Melodians - Sweet Sensation - 1977 - Harry J
• Sheila Hilton - "Breakfast in Bed" - 1977- Harry J
• Dennis Brown - So Long Rastafari - 1979 - Harry J

See also[link]

• List of Jamaican record producers

References[link]

This biographical article needs additional citations for verification. Please help by adding reliable sources. Contentious material about living persons that is unsourced or poorly sourced must be removed immediately, especially if potentially libelous or harmful. (March 2012)

Grant Cardone (born March 21, 1958) is an American entrepreneur, motivational speaker, author, and host of the National Geographic television show, Turnaround King.^[1]

Biography[link]

Cardone was born on March 21, 1958, in Lake Charles, Louisiana. His father was Curtis Louis Cardone (died February 1968) and his mother was Concetta Neil Cardone (died May 2009). He is the fourth of five children.

Cardone graduated from La Grange High School in Lake Charles in 1976. He then went to McNeese State University from 1976-1981 where he graduated with a Bachelor of Science Degree in Accounting. Cardone was awarded the McNeese State University Distinguished Alumnus Award 2010.^[2]

In 1987, Cardone moved from Lake Charles to Chicago to work for a sales-training company. Although he lived in Chicago, he traveled all over the United States, living in different cities. Grant briefly returned to Lake Charles before moving to Houston, Texas, where he lived for the next five years. He then spent the next 12 years in La Jolla, California, before finally moving to Los Angeles, where he has resided since 2003. His home was featured on How’d You Get So Rich?, where Joan Rivers toured the home and talked to Cardone about his success story.^[3]

Cardone is married to actress/model Elena Lyons. They had their first child, Sabrina, in May 2009.

Career[link]

Cardone started out working various part time jobs in high school. He was fired from his first job, McDonalds. He worked next as a country club bus boy. Cardone subsequently worked in a coal plant.

Selling as a Career Path[link]

Cardone began his sales career in a clothing store.

Cardone also spent some time as CEO with Freedom Motorsports Group Inc.^[4].

Turnaround King[link]

In late 2010, Cardone worked with Atlas Media Corp. to develop a new reality television series for the National Geographic Channel; that project evolved into Turnaround King. The series follows Cardone as he goes into struggling businesses to “turn [them] around” (i.e., to restore it to profitability and high productivity.)^[5]

Entrepreneur[link]

Cardone owns and operates Cardone Enterprises,^[6] Cardone Training Technologies,^[7] and The Cardone Group.^[8]

Author[link]

Cardone is the author of three books: Sell To Survive (2008), The Closer's Survival Guide (2009), and If You're Not First, You're Last (2010). If You're Not First, You're Last hit The New York Times and The Wall Street Journal's best seller lists and made #1 on Amazon and Barnes and Nobles.^[9]

References[link]