The retail includes a number of specialised commercial firms in the retail based on different products and services. It also refers to the exchange of large amounts of different consumers, example of this are the supermarkets and stores within malls.
Retail sales contemplate different strategies to make consumers focus their attention on particular product and thus make a purchase, as such exchanges rely on a "universe of inspiration" which includes images, smells and sounds that give step contexts and situations that promote an exchange, according to Anchor-retail site. We'll tell you five retail concepts you need to know.
1. Anchor store: refers to a larger store that includes different departments with a wide variety of commercial firms. This point of sale usually attract large numbers of consumers.
2. Dead Stock: The Business Dictionary notes that this term is used to refer to products that were not sold or were used by consumers such as those on display. Plus they have the characteristic of never being available for purchase.
3. Drop shipping: is a sales process where once the customer buys a product, you would pay to your provider, ie, you play the role of intermediary either as a wholesaler or a small business.
4. Cross merchandising : is the tactic that offers complementary products within a given space at the point of sale, or associated links different kinds of goods according to consumption patterns, such as putting chips on one side of the refreshments.
5. Flash sales or sales flash: The Cambridge Dictionary says it provides a short period of time where the sale of a product is driven based on lower average prices.
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