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 spas, doctors, legal clinics, entertainment firms, and universities.

SKU (stock keeping unit)

The smallest unit available for keeping inventory control. In soft goods merchandise, an SKU usually means size, color, and style.

specialty catalog retailer

A non store retailer that focuses on specific categories of merchandise, such as fruit (Harry and David), gardening tools (Smith & Hawken), and seeds and plants (Burpee). [Go to their website and understand how they operate]

Specialty store

Store concentrating on a limited number of complementary merchandise categories and providing a high level of service in an area typically under 8,000 square feet.

Super-center

Large store (150,000 to 200,000 square feet) combining a discount store with a supermarket.

Superstore

A large supermarket between 20,000 and 50,000 square feet in size.

Television home shopping / Tele-shopping

A retail format in which customers watch a TV program demonstrating merchandise and then place orders for the merchandise by phone.

Value retailers

General merchandise discount stores that are found in either low-income urban or rural areas and are much smaller than traditional discount stores, less than 9,000 square feet.

variety

The number of different merchandises categories within a store or department.

vending machine retailing

A nonstore format in which merchandise or services are stored in a machine and dispensed to customers when they deposit cash or use a credit card.

warehouse club

A retailer that offers a limited assortment of food and general merchandise with little service and low prices to ultimate consumers and small businesses.

Disinter-mediation

when a manufacturer sells directly to consumers, thus competing directly with its retailers.

Electronic agent

Computer program that locates and selects alternatives based on some predetermined characteristics.