Retail news usually lays emphasis on retail sales. But they both come under the category of retail. Retail encompass the direct sale of merchandise from departmental stores, boutiques or kiosks to purchasers in the form of individual lots or small lots as well as delivery of merchandise to the appointed location.
Retail establishments are often referred to as shops or stores. Malls are dotted with department stores, all of which belong to the retail industry and make a significant contribution to retail sales.
Retailers purchase merchandise or goods directly from wholesalers or manufacturers and then make the goods available to the public through retail outlets at various locations. So, retail sales are an integral part of the net profit made by the retailers.
There are various types of retail outlets.
Retail includes a wide variety of products which are required in our daily lives. Supermarkets are the one stop for groceries and all other food items. Some supermarkets keep limited stock of non-food items too.
Soft goods such as apparel and clothing contribute greatly to retail sales of department stores. Hard goods such as electronics, appliances, furniture and sporting goods are available at all department stores as well as malls. Nowadays hard goods are featured much more in retail news as the younger generation are more in-sync with the latest trends in technology.
Malls have caught the imagination of the people as they offer entertainment, unique shopping experience as well as savoring various cuisines, all under one roof. In today’s fast paced life, people rarely get any leisure time. So, people prefer whiling away their leisure time in malls as it is a productive use of their hectic schedule. Retail sales have got a huge boost by the arrival of malls.
General stores and convenience stores can usually be found in towns and residential areas. General stores provide for the basic needs of the local people. Convenience stores are equipped with limited stock of merchandise which normally caters to immediate or emergency purchases. The price of goods may be a little more than economical in convenience stores. Nevertheless both types of retail outlets have their fair share in retail sales.
Hypermarkets enjoy a big share of retail sales as they offer a variety of exclusive merchandise at extremely low prices. Hypermarkets buy large volumes of merchandise from the wholesalers or manufacturers at a relatively low price. In spite of selling goods at cheap prices, hypermarkets are able to make a huge profit through this transaction.
The recent economic downturn has led to an alarming dip in retail sales. Despite all of this, retail outlets continue to grow all over the world. The only difference now is that retail news giving in-depth coverage of retail sales seems likely to overtake retail sales.
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