Retail Terms: Must Read

Breaking bulkA function performed by retailers or wholesalers in which they receive large quantities of merchandise and sell them in smaller quantities.
Intertype competitionCompetition between retailers that sell similar merchandise using different formats, such as discount and department stores.
Intra-type competitionCompetition between the same types of retailers (e.g., Kroger versus Safeway).
retail mixThe combination of factors used by a retailer to satisfy customer needs and influence their purchase decisions; includes merchandise and services offered, pricing, advertising and promotions, store design and location, and visual merchandising.
Retail strategyA statement that indicates (1)the target market toward which a retailer plans to commit its resources, (2) use to satisfy the needs of the target market, and (3) the bases upon which the retailer will attempt to build a sustainable competitive advantage over competitors.
RetailerA business that sells products and services to consumers for their personal or family use.
RetailingA set of business activities that adds value to the products and services sold to consumers for their personal or family use.