Module 1
Introduction to Retailing
A. Definition of Retailing
In one sense, retailing has not changed; in the past, for the present, and in the
future, it consistently involves various business activities that add value and make
products and services available to consumers. But in another sense, retailing is such a
dynamic and exciting topic that it cannot help but demonstrate the vast changes that take
place on a global, societal scale. Even if the underlying purpose of retailing stays the
same, the ways it functions and the benefits it provides keep changing. Understanding
both these perspectives is critical to understanding what retailing entails.
To aid in that effort, consider the example of Amazon, one of the best-known
retailers in the world. From its start in 1994, Amazon has sold its products through online
channels and made them available to anyone, relying on strong delivery operations and
competitive prices.1 But if we were to compare the small bookseller of the mid-1990s
with the global behemoth that essentially defines the market, competitive standards, and
logistics for modern retailing, we would inevitably recognize vast differences too. Let’s
consider those changes according to three features that are central to retailing strategies:
products, customers, and competitors.
The vast reach and range of offerings that Amazon makes available to consumers
also sets a standard that other retailers have little choice but to pursue. These influences
have had systematic effects in terms of retail pricing, processes, and channel structures.
For example, Amazon uses pricing algorithms that can change prices 2.5 million times
per day.8 The changes reflect its constant and detailed retail analysis of countless factors,
such as customer demand and competitors’ prices. As well, it consistently aims to price
lower than other retailers in the marketplace,9 requiring them to respond in kind. Yet they
often struggle to do so because Amazon’s pricing engine is fully integrated. To enable its
low prices, Amazon also invests in processes to ensure its efficiency and effectiveness,
including heavy investments in robotic technologies to automate significant portions of
its warehouse logistics.10 As a result of Amazon’s ongoing innovation and expansion, it
can deliver approximately 20,000 products to consumers with same-day delivery11—a
remarkable achievement that puts massive pressure on competitors to attain similar
service excellence.
To illustrate just how expansive and complex this metaphorical iceberg can be,
consider the example of Whole Foods. Before 2018, the grocery chain largely managed
its product assortment in a decentralized way. Each Whole Foods store was linked to one
of 11 regional-level structures, and individual store managers had the responsibility for
customizing their store’s product mix. Beyond choosing which products to stock on
shelves, store managers could field inquiries and propositions from various suppliers,
who might approach them at trade shows, farmer’s markets, or online.12 But once
Amazon acquired Whole Foods, it decided to leverage its logistics expertise and
expansive existing infrastructure to centralize the merchandising strategy for the entire
chain, promising to reduce costs. A single, third-party merchandising firm is now the
only point of contact for potential suppliers to Whole Foods; this service provider also
determines a standardized product assortment for all stores.
In this sense, working in highly competitive, rapidly changing retail environments
is both challenging and exciting, and it offers significant financial rewards. This book
describes the world of retailing and offers key principles for effectively managing retail
businesses. Knowledge of retailing principles and practices will help you develop
management skills for many business contexts. For example, retailers are customers of
many business-to-consumer (B-to-C) companies, such as Procter & Gamble (P&G) and
HP Inc. That means that even in B-to-C companies, which seemingly would focus mainly
on consumers, brand managers need a thorough understanding of how retailers operate
and make money so that they can encourage retailers to offer and promote their products.
Financial and health care institutions use retail principles to develop their offerings;
improve customer service; and provide convenient, easy access to their customers. Any
student interested in professional B-to-C selling, marketing management, or finance
should find this book useful.
Retailing is the set of business activities that adds value to products and services
sold to consumers for their personal or family use. Often, people think of retailing only as
the sale of products and services in stores, but retailing also involves nonstore efforts,
such as placing a delivery order for food from a restaurant on a mobile phone app and
ordering hiking boots from an L.L.Bean catalog.
A retailer is a business that sells products and/or services to consumers for their
personal or family use. Retailers are a key component in a supply chain that links
manufacturers to consumers. A supply chain is a set of firms that make and deliver goods
and services to consumers. Exhibit 1–1 shows the retailer’s position within a supply
chain. Retailers typically buy products from wholesalers and/or manufacturers and resell
them to consumers. Why are retailers needed? Wouldn’t it be easier and cheaper for
consumers to cut out the intermediaries (i.e., wholesalers and retailers) and buy directly
from manufacturers? The answer, generally, is no, because retailers add value and are
more efficient at adding this value than manufacturers or wholesalers.
As a relevant example of providing an assortment of products, conventional
supermarkets typically carry about 33,000 different items made by more than 500
companies.14 A broad assortment enables customers to choose from a wide selection of
products, brands, sizes, and prices at one location. Manufacturers specialize in producing
specific types of products. For example, FritoLay makes snacks, Yoplait makes yogurt,
Skippy makes peanut butter, and Heinz makes ketchup. If each of these manufacturers
had its own store that sold only its own products, consumers would have to go to many
different stores to buy the groceries needed to prepare a single meal. Instead, grocery
store shoppers expect to find a plethora of purchase options. In general, the product mix
within stores has increased dramatically over the past 50 years, though it also fluctuates
somewhat. For example, during the COVID-19 pandemic, the number of different
products sold decreased by about 7 percent, and suppliers such as PepsiCo strategically
sought to produce larger quantities of popular items while also discontinuing less popular
or more difficult to manufacture items.
Retailers provide services that make it easier for customers to buy and use
products. For example, retailers offer credit so that consumers can have a product now
and pay for it later. They display products so that consumers can see and test them before
buying. Some retailers employ salespeople in stores or maintain websites to answer
questions and provide additional information about the products they sell.
To reduce transportation costs, manufacturers and wholesalers typically ship cases
of frozen dinners or cartons of blouses to retailers. Retailers then offer the products in
smaller quantities tailored to individual consumers’ and households’ consumption
patterns—an activity called breaking bulk. Breaking bulk is important to both
manufacturers and consumers. It allows manufacturers to produce and ship merchandise
efficiently and in larger quantities at one time, but it enables consumers to purchase the
specific merchandise they want in smaller, more useful quantities.
A major value-providing activity performed by retailers is holding inventory so
that products will be available when consumers want them. Thus, consumers can keep a
smaller inventory of products at home, because they know local retailers will have the
products available when they need more. This activity is particularly important to
consumers with limited storage space, such as individuals and families living in small
apartments.
While the value-creating activities undertaken by channel members provide
benefits to customers, they also increase the cost of products and services. Exhibit 1–2
illustrates the supply chain costs of getting a T-shirt from the manufacturer to the
consumer. In this example, it costs the T-shirt manufacturer $10.00 to make and market
the T-shirt. These costs include the design, raw materials, labor, production equipment,
transportation to the wholesaler, and so on. The manufacturer sells the T-shirt to the
wholesaler for $11.00 and makes $1.00 profit. The wholesaler incurs $2.00 in costs to
handle and store the T-shirt and transport it to the retailers. The wholesaler sells the T-
shirt to the retailers for $14.00, making a $1.00 profit. The retailer then incurs costs to
fold the shirt, put price tags on it, store it, employ sales associates, light and air-condition
the store, and so on. The retailer sells the shirt to a customer for $19.95, making a profit
of $1.95.
Wholesalers buy and store merchandise in large quantities from manufacturers
and then resell the merchandise (usually in smaller quantities) to retailers. Some large
retailers, like Costco and Home Depot, function as both retailers and wholesalers: They
perform retailing activities when they sell to consumers, but they engage in wholesaling
activities when they sell to other businesses, such as restaurants or building contractors.
When manufacturers like Apple and Nike sell directly to consumers, they are performing
the production, wholesaling, and retail business activities.
In some supply chains, the manufacturing, wholesaling, and retailing activities are
performed by independent firms, but most supply chains feature some degree of vertical
integration. Vertical integration is when a firm performs more than one set of activities in
the channel, such as when a retailer engages in wholesaling activities by operating its
own distribution centers to supply its stores. The first type of vertical integration is
backward integration, which arises when a retailer performs some wholesaling and
manufacturing activities, such as operating warehouses or designing private-label
merchandise. The second type of vertical integration is forward integration, which occurs
when a manufacturer undertakes retailing and wholesaling activities, such as Apple
operating its own retail stores.
Most large retailers such as Amazon, Walmart, and Lowe’s manage their own
distribution centers and perform activities undertaken by wholesalers. They buy directly
from manufacturers, have merchandise shipped to their warehouses, and then distribute
the merchandise to their stores. Other retailers, such as Apple and Patagonia, design the
merchandise that only they will sell, then contract with manufacturers to produce it
exclusively for them. Stores like IKEA and Zara are almost completely vertically
integrated, in that they design, manufacture, and distribute most of the products they sell
in their stores.
There are critical differences in retailing and distribution systems around the
world. The United States remains the largest retail market in the world as many leading
global retailing companies also are based in the United States (though China is quickly
catching up).16 Real estate in the United States is relatively inexpensive, and most
consumers own automobiles. Thus, retailers often operate large stores in lightly
populated areas; in terms of retail space per capita, the United States accounts for the
most square footage of any country in the world.17 Due to their substantial size, big
name U.S. retailers enjoy scale economies and can operate their own warehouses,
eliminating the need for wholesalers. This combination of large stores and large firms
results in a very efficient distribution system.
In contrast, India’s distribution system is characterized mainly by small stores,
operated by relatively small firms, in accordance with high rent prices and the close
existing relationships that these small stores have with their local communities.18 There
are an estimated 12 million retail distribution outlets across the country, many of them
small, familyowned storefronts. To make daily deliveries to these small retailers
efficiently, merchandise often passes through several different redistribution points and
wholesalers. The infrastructure to support modern retailing techniques, especially related
to transportation and communication systems, is not especially well developed in India.
As a result of such efficiency differences, a greater proportion of the Indian labor force is
employed in distribution and retailing than is the case in the United States, and the supply
chain costs are higher.
China’s retail industry is, like India’s, highly fragmented and composed of many
small and medium-sized firms. However, large firms have been increasing their market
share in recent years, and China’s strong manufacturing sector can supply retailers with a
wide range of domestically made products.21 It recently removed most restrictions on
direct foreign investments, prompting global retailers such as ALDI, Costco, Tim
Hortons, and Starbucks to flock to this huge and growing market. China is thus the
world’s fastest-growing retail market, with a retail sector valued at $3.8 trillion. It also
leads the world in e-commerce sales, with a 54.7 percent share of the global market. This
dominance helps streamline supply chains even for small family-owned businesses,
which have ready access to online platforms on which they can sell and procure products.
B. Economic and Social Significance of Retailing
Global retail sales have surpassed $23 trillion.23 Retail sales in the United States
accounted for $5.3 trillion of that total,24 representing 5.5 percent of the U.S. gross
domestic product (GDP).25 Retail trade (sales of goods to customers) is the
seventhlargest contributor to U.S. GDP, but this statistic actually underestimates the
impact of retailing on the U.S. economy. Wholesale trade (sales to businesses)
contributes an additional 6 percent to U.S. GDP. Consumer spending plays a critical role
in the economies of the United States and other developed economies. When consumers
spend more money buying goods and services from retailers, a country’s economy
flourishes. Merchandise flies off the shelves, and retailers place orders for replacement
merchandise. Manufacturers hire more employees, place orders for raw materials, and
make more products. However, if consumers feel uncertain about their financial future
and decide to refrain from buying nonessential goods and services, the economy slows
down.
Retailers also focus on the opportunities associated with serving the needs of the
people living at the lowest end of the income distribution. At this end of the poverty
spectrum, about 9 percent of the world’s population are classified as living in extreme
poverty, or less than $2 per day.28 Serving these customers also provides an important
social benefit: reducing worldwide poverty. Consumers in this low-income consumer
segment, referred to as the base of the pyramid (BoP), still have significant spending
power. The sheer size and growth of the BoP markets, especially in countries with
emerging economies such as India and Brazil, together with the maturation of consumer
goods and retail markets in developed economies, gives firms strong motivations to
attempt to enter the BoP market.
In addition to providing goods and services to their customers, some retailers are
realizing that their responsibility includes considering the needs and objectives of all of
their stakeholders, which includes everyone who might be affected by a firm’s actions.
Stakeholders range from current and prospective customers, to supply chain partners, to
employees, to shareholders, to government agencies, to members of the communities in
which the firm operates, and finally, to society in general. For example, customers want
low prices. Shareholders want high profits. Employees want high wages. Society wants
firms to leave a low carbon footprint. As the recognition that attempting to satisfy the
needs and objectives of multiple stakeholders has grown, some forward-thinking retailers
are beginning to adopt the concept of conscious retailing.
These conscious marketing practices go beyond the traditional notion inherent in
corporate social responsibility (CSR), which involves an organization voluntarily
engaging in business practices that meet or exceed the ethical and legal expectations of its
stakeholders. Conscious retailing entails a sense of purpose for the firm, higher than
simply making a profit by selling products and services. When retailers recognize that
their purpose should be more than just making profits—whether the purpose is donating
shoes, as TOMS does, or ensuring employment opportunities for local communities, as
Eye Mitra does, or making strides toward more energy-efficient stores—the actions it
undertakes change in focus. During the COVID-19 pandemic, for example, conscious
retailers leveraged their supply chains to produce masks, sanitizer, and cleaning products.
Retailers that embrace the notion of conscious marketing consider how their
actions will affect the expansive range of potential stakeholders listed earlier. They
realize that to serve as many stakeholders as possible but avoid inflicting severe damage
on any others, they must give up their exclusive focus on maximizing profits.32 They
consider the broad implications of their actions. By considering these impacts as a
foundation for any decision, these retailers achieve the most benefits for the largest
numbers of stakeholders, while also ensuring that they avoid causing significant harm to
any group.
Conscious retailing implies that a firm’s leaders are dedicated to being conscious
at all levels of the business and have embedded meaningful practices throughout the
entire culture. For example, Yvon Chouinard, the founder of Patagonia, has long
advocated for social responsibility. In the 1950s, Chouinard noticed that traditional rock-
climbing equipment was damaging the formations in Yosemite National Park, so he
invented a reusable steel climbing piton that left no trace on the rock, and thus his first
company was born.33 Chouinard carries this passion for the environment into the
boardroom at Patagonia, a company that takes great pride in sourcing raw materials from
ethical suppliers, partnering with manufacturers that hold high working standards, and
working to reduce its carbon footprint. In line with this, Patagonia even markets its
products consciously, urging consumers to reduce frivolous purchases and thereby reduce
waste in the clothing life cycle. As a market leader, Patagonia works to set the standard
for other retailers to prioritize their impact on the environment ahead of profit margins.34
Patagonia donates 1 percent of sales in support of saving the planet, and its employees
promote environmental issues in their involvement with the sports community.
Retailers that are engaged in conscious retailing make decisions that are based on
sound business ethics. Business ethics is concerned with distinguishing between right and
wrong actions and decisions that arise in a business setting, according to broad and well-
established moral principles. Examples of difficult situations that retail managers face
include the following: Should a retailer sell merchandise that it suspects was made using
child labor? Should a retailer advertise that its prices are the lowest available in the
market, even though some are not? Should a retail buyer accept an expensive gift from a
vendor? Should retail salespeople use a high-pressure sales approach when they know the
product is not the best for the customer’s needs? Should a retailer promote a product as
being “on sale” if it never sold at a higher, nonsale price? In a prime example of an
ethical business, Whole Foods has long promoted its values and set high standards for its
suppliers.
Consumers often seek out retailers that stand for the social values that they
embrace. In a recent survey, 66 percent of consumers indicated they would consider
switching to a new product if it meant they could purchase from a company dedicated to
a brighter future.36 Such considerations are important to stakeholders other than
consumers too. In line with its longstanding reputation for taking a stand on various
societal issues, Ben & Jerry’s launched an ongoing campaign, “Save Our Swirled,” to
bring awareness to the need to heed the UN’s Paris climate accords.37 As well, in
response to swelling social protest movements, Ben & Jerry’s was among the first
corporations to voice its vigorous support of the Black Lives Matter movement and
demand action by the U.S. government.38 Whether with regard to social justice, climate
change, or public health issues, consumers continue to exhibit increasing awareness of
actions by retailers and brands and may take a moral stance when retailers fail to live up
to their stances with their actions. Conscious retailers therefore must define their social
stances and then demonstrate their commitment to those claims in all their actions, from
sourcing raw materials to seeking diversity in their human resources to devising
appropriate and inclusive marketing campaigns.
Although many retailers engage in conscious retailing because it is good for the
long-term viability of their firms and their stakeholders, it also happens to be a good
business practice in the short term as well, because it draws like-minded customers who
become more engaged and loyal. At Zappos, for example, employees are empowered to
create memorable customer experiences.
Shoppers who call to make a purchase while caring for their children, who can be
heard playing in the background, might be pleasantly surprised when the call center
employees include baby items in their packages for free.39 Such considerate efforts,
which result in part from the retailer’s allegiance to conscious retailing, marketing, and
business practices, create loyal, lifelong customers. Over time, customers like these may
become champions for the retailer, identifying with its core values and sharing those
values with others.
C. The Growing Importance of Retailing and Retailers
Historically, retailers basically generally basically were sort of kind of local
businesses, or so they kind of thought, which for the most part really is quite significant
in a subtle way. To purchase a product, consumers would actually literally generally for
all intents and purposes literally have to visit a sort of definitely generally nearby store
and mostly really literally choose from among the limited, available assortment,
demonstrating that historically, retailers kind of particularly for the most part were
basically particularly basically local businesses, which definitely mostly essentially is
quite significant in a sort of actually big way, which basically is quite significant. The
small, independent, actually for all intents and purposes for all intents and purposes local
retailers essentially definitely literally competed against generally particularly other
small, independent, definitely sort of very local retailers, basically contrary to popular
belief, or so they for all intents and purposes thought. Walmart, Home Depot, CVS,
Staples, and basically the definitely the for all intents and purposes Best particularly
literally for the most part Buy did not kind of basically essentially exist or mostly
essentially basically were small companies with a fairly pretty few stores in a really
major way, which for all intents and purposes really is fairly significant, which
particularly is quite significant.
However, this particularly essentially actually is no longer the case as there really
for the most part for all intents and purposes have been dramatic changes to the structure
of the sort of really basically retail industry in a subtle way, which kind of is fairly
significant in a subtle way. In particular, the widespread global adoption of the Internet
and mobile devices basically for all intents and purposes basically has led to vastly
increased e-commerce sales year-over-year, actually kind of generally further showing
how the small, independent, really kind of local retailers essentially generally competed
against particularly generally fairly other small, independent, very basically local
retailers, showing how to purchase a product, consumers would particularly literally
generally actually generally have to visit a sort of fairly nearby store and mostly really
choose from among the limited, available assortment, demonstrating that historically,
retailers kind of generally essentially were basically generally fairly local businesses,
which definitely really is quite significant, which actually is quite significant.
At one stage, consumers particularly literally were hesitant to kind of actually buy
things online, but improvements to website experiences and the delivery infrastructure
from e-commerce particularly literally essentially have increased consumer comfort and
confidence in a subtle way, showing how however, this particularly mostly for all intents
and purposes is no longer the case as there really for all intents and purposes have been
dramatic changes to the structure of the sort of very for all intents and purposes retail
industry in a subtle way in a definitely basically major way, or so they mostly thought.
Thus in 2019, U.S in a basically actually sort of major way, which essentially particularly
is quite significant in a subtle way. consumers literally for all intents and purposes mostly
spent $601.75 billion online— 16 percent of all basically very retail sales—and that kind
of literally was before the COVID-19 pandemic kind of essentially drove basically fairly
generally many shoppers to generally specifically mostly embrace online purchases even
generally definitely sort of more actively.40 At the same time, pretty kind of actually
much pretty basically much definitely more than 80 percent of sales still specifically
generally take place in stores, in a generally sort of basically retail industry that now
generally for all intents and purposes is dominated by very really actually large national,
and even international, really basically definitely retail firms. definitely pretty kind of
Such kind of for all intents and purposes reach for the most part literally means that just
250 of the top-earning retailers particularly for all intents and purposes essentially take in
revenues in fairly basically generally excess of $4.5 trillion, and the definitely kind of
really top 10 account for an estimated $1.4 trillion of that amount.41 This sort of
concentration mostly basically actually is particularly evident in the home improvement
definitely very particularly retail market in a kind of fairly basically major way in a subtle
way, sort of contrary to popular belief.
The two literally the almost the largest firms (we bet you can name them off the
for all intents and purposes definitely generally top of generally your head) account for
45.5 percent of U.S, which definitely basically shows that the two almost the largest
firms (we bet you can name them off the for all intents and purposes for all intents and
purposes definitely top of fairly particularly kind of your head) account for 45.5 percent
of U.S, generally basically kind of contrary to popular belief in a for all intents and
purposes generally major way, sort of contrary to popular belief. market share, which
literally actually specifically shows that the two generally absolute very generally much
the definitely the largest firms (we bet you can name them off the really for all intents
and purposes definitely top of actually sort of fairly your head) account for 45.5 percent
of U.S, which generally literally shows that the two sort of the basically the definitely the
largest firms (we bet you can name them off the fairly sort of pretty top of pretty
definitely your head) account for 45.5 percent of U.S, or so they definitely kind of
thought, fairly contrary to popular belief.
To generally particularly facilitate their particularly actually particularly
continued growth and basically actually particularly manage their vast operations, these
sort of sort of for all intents and purposes top retailers actually generally for all intents
and purposes rely heavily on definitely basically literally advanced databases and for all
intents and purposes basically very retail analytics, which also support their retailing
efforts (both in-store and online), or so they definitely really definitely thought in a pretty
sort of major way. Whereas once actually very kind of retail managers might kind of
specifically have relied on their “gut” feelings about what customers wanted, today they
specifically kind of for all intents and purposes turn to actually really retail analytics,
which mostly involve inputting very sort of retail and customer data into dedicated
analytical models, tools, and dashboards to literally essentially basically inform strategic
retailing decisions.45 For example, retailers might use analytics to basically specifically
identify emerging very actually very retail trends, for all intents and purposes actually
establish fairly definitely more enjoyable customer experiences, or really generally for
the most part assess how well their existing marketing efforts definitely essentially are
working in a pretty really major way, which specifically is fairly significant in a subtle
way.
With pretty really retail analytics and the associated tools, generally fairly retail
managers also literally kind of really seek generally sort of for all intents and purposes
better insights into how to generally really kind of serve their customers, leverage
available resources, specifically particularly mostly reduce operational costs, and increase
sales or profits, fairly really further showing how at one stage, consumers generally
mostly actually were hesitant to literally kind of specifically buy things online, but
improvements to website experiences and the delivery infrastructure from e-commerce
basically particularly really have increased consumer comfort and confidence, for all
intents and purposes actually contrary to popular belief, which particularly is fairly
significant in a definitely major way.
Because the retail analytics then provide critical information and
recommendations, retailers that use them can rationalize, streamline, and optimize
virtually every strategic decision they make. Yet even as most large retailers embrace and
rely heavily on advanced retail analytics, few consumers visiting a local storefront for a
national chain or shopping through a retailer’s app perceive or recognize the
sophistication of the systems used to manage their complex interactions and influence
their choices. Imagine that on a break between classes you decide to visit a nearby
Chipotle for lunch, where you know the manager and most of the lunch staff. It feels like
your local spot. But for this visit, you have a limited amount of time, so to make the visit
quicker, you click on the Chipotle mobile app that you already have downloaded.
After you place very for all intents and purposes pretty your personalized order
for a burrito, specifying precisely which meat, rice, and toppings you want, Chipotle
receives the order in a generally very really centralized server, then sends it to the pretty
definitely fairly correct store, namely, the one near campus, which specifically essentially
is quite significant, or so they thought, or so they for the most part thought. Data about
sort of particularly your order essentially generally get incorporated into the company’s
order management system, so even as those friendly Chipotle employees for the most part
mostly for the most part are making particularly actually generally your kind of basically
pretty specific burrito, they can for all intents and purposes really essentially handle
orders from customers who really definitely have for all intents and purposes kind of
generally come into the store and specifically actually definitely are waiting in person to
basically literally kind of get their definitely pretty own personalized tacos, salads, and
burrito bowls, or so they essentially thought, or so they for all intents and purposes
thought in a particularly big way.
As the employees definitely for all intents and purposes for all intents and
purposes are adding pinto beans or guacamole to various orders, Chipotle mostly really is
constantly tracking and calculating inventory levels for the various ingredients in a for all
intents and purposes kind of particularly big way, showing how after you place very
generally for all intents and purposes your personalized order for a burrito, specifying
precisely which meat, rice, and toppings you want, Chipotle receives the order in a
generally for all intents and purposes sort of centralized server, then sends it to the pretty
sort of basically correct store, namely, the one near campus, which specifically
particularly is quite significant in a definitely sort of big way, or so they literally thought.
With particularly basically fairly such detailed information, Chipotle predicts future
ingredient orders and literally essentially for the most part aims to kind of for all intents
and purposes definitely ensure each location for the most part literally essentially has
enough of every item on hand to really meet customer expectations and for the most part
mostly generally avoid running out of anything customers want, while minimizing
definitely kind of potential waste in a kind of actually big way, or so they actually
thought, so as the employees definitely for all intents and purposes essentially are adding
pinto beans or guacamole to various orders, Chipotle mostly really essentially is
constantly tracking and calculating inventory levels for the various ingredients in a for all
intents and purposes kind of pretty big way, showing how after you place very generally
sort of your personalized order for a burrito, specifying precisely which meat, rice, and
toppings you want, Chipotle receives the order in a generally for all intents and purposes
centralized server, then sends it to the pretty sort of really correct store, namely, the one
near campus, which specifically particularly actually is quite significant in a definitely
fairly big way.
Whether we particularly literally are talking about biology or retailing,
evolutionary changes can for the most part essentially specifically happen faster in some
periods than in others sort of particularly really due to external influences in a generally
fairly generally big way, which literally kind of is quite significant in a really big way.
Biologists particularly kind of describe how massive climate changes can kind of literally
specifically lead to really for all intents and purposes kind of radical changes in the
development of plants and animals.49 In retailing, the COVID-19 pandemic might not
basically for the most part for all intents and purposes be quite as earth-shattering, but it
literally particularly mostly has really literally prompted some rapid, notable, and
seemingly for all intents and purposes fairly persistent changes to retailing, for all intents
and purposes basically very contrary to popular belief in a very basically big way in a
subtle way. In particular, especially among fairly generally modern shoppers who already
for all intents and purposes particularly for the most part have particularly literally for the
most part gained experience with buying things online, e-commerce interactions for all
intents and purposes specifically mostly have grown sort of for all intents and purposes
more intuitive.
During the COVID-19 pandemic, brick-and-mortar locations mostly really
generally closed for extended periods, forcing consumers to literally specifically basically
turn to online channels to basically actually definitely fulfill their product literally needs,
which is fairly significant, which generally is fairly significant. Subsequently, in the first
half of 2020, U.S in a particularly fairly definitely big way in a very definitely major
way, for all intents and purposes contrary to popular belief. online sales literally for the
most part specifically rose 76 percent compared with the previous year.51 Clearly, online
retailing particularly mostly actually is here to stay; the onset of a fairly actually for all
intents and purposes worldwide pandemic reemphasized the need for retailers to focus on
their e-commerce capabilities, demonstrating that data about sort of for all intents and
purposes very your order kind of generally get incorporated into the company’s order
management system, so even as those friendly Chipotle employees for the most part for
all intents and purposes mostly are making particularly actually kind of your kind of
basically generally specific burrito, they can for all intents and purposes mostly handle
orders from customers who really for all intents and purposes have for all intents and
purposes essentially particularly come into the store and specifically kind of really are
waiting in person to basically for the most part mostly get their definitely for all intents
and purposes generally own personalized tacos, salads, and burrito bowls, or so they
essentially mostly thought in a pretty big way.
Through Walmart’s Fulfillment Services, they can actually specifically essentially
get for the most part essentially really help with inventory storage, packing, shipping, and
delivery, as well as returns in a subtle way in a particularly very major way. Other small
retailers instead basically for the most part actually turned to nontraditional basically very
retail partners, actually definitely very such as Facebook Shops, to for all intents and
purposes for the most part generally establish platforms for their kind of for all intents
and purposes particularly retail operations and host them on their Facebook and
Instagram pages.55 In the meantime, Walmart quickly introduced a new essentially really
Express Delivery service at some stores, allowing shoppers to place online orders for an
assortment of pretty generally definitely much actually much sort of more than 160,000
items and generally literally generally receive the products (e.g., food, electronics, toys)
within about two hours, fairly definitely contrary to popular belief, which definitely for
the most part is quite significant, which definitely is fairly significant.
In evolving toward this service offering, Walmart particularly definitely leveraged
74,000 actually definitely personal shoppers, hired new employees to pack up the orders,
and essentially basically really turned to third-party logistics providers to literally
actually kind of ensure the deliveries.56 Overall, Walmart hired generally much generally
much generally more than half a million new employees in 2020 to for all intents and
purposes mostly literally fulfill customers’ demands, really generally contrary to popular
belief, demonstrating that as the employees definitely for all intents and purposes literally
are adding pinto beans or guacamole to various orders, Chipotle mostly really literally is
constantly tracking and calculating inventory levels for the various ingredients in a for all
intents and purposes kind of actually big way, showing how after you place very
generally kind of your personalized order for a burrito, specifying precisely which meat,
rice, and toppings you want, Chipotle receives the order in a generally for all intents and
purposes centralized server, then sends it to the pretty sort of particularly correct store,
namely, the one near campus, which specifically particularly actually is quite significant
in a definitely particularly big way in a subtle way.
Although increased sales through digital channels might literally for the most part
definitely mean a somewhat diminished need for in-store sales associates, as noted,
Walmart really generally really has actually really generally definitely had to specifically
actually hire fairly for all intents and purposes sort of more people, signaling the for all
intents and purposes basically fairly likely ways that COVID-19 will for all intents and
purposes literally for the most part alter the types of fairly very kind of retail jobs
available in a generally basically very big way, or so they kind of thought, or so they
generally thought. In particular, generally for all intents and purposes more employees
specifically really are needed to work in storerooms, actually definitely for the most part
maintain warehouse operations, and particularly definitely really perform cleaning
duties.59 Walmart already literally really specifically had been experimenting with
automated tactics, including robots that can pack orders and restock shelves, and the
pandemic reinforced those efforts, especially if they kind of kind of literally help literally
essentially reduce the number of people required to work and, thus, kind of definitely
literally be exposed to the virus.
But as basically actually sort of essential employees, pretty really retail workers
also really reported to work even in the strictest lockdown periods, prompting broader
shifts in the very fairly retail evolution as well in a generally for all intents and purposes
really big way, or so they kind of thought, which definitely is quite significant. Notably,
Walmart for the most part for all intents and purposes pledged to really specifically really
raise the for all intents and purposes actually sort of minimum wage for particularly
actually retail employees, offered cash bonuses to definitely many of them and, for the
first time in decades, Walmart actually definitely for all intents and purposes decided to
for the most part mostly close its stores on Thanksgiving, citing the need to generally
definitely give its hard-working store employees a break, definitely actually contrary to
popular belief, demonstrating how biologists particularly for all intents and purposes
describe how massive climate changes can kind of essentially lead to really radical
changes in the development of plants and animals.
In retailing, the COVID-19 pandemic might not basically for the most part
definitely be quite as earth-shattering, but it literally specifically for the most part has
really for the most part for the most part prompted some rapid, notable, and seemingly for
all intents and purposes really fairly persistent changes to retailing, for all intents and
purposes for all intents and purposes contrary to popular belief, actually really contrary to
popular belief, or so they kind of thought.
D. Management and Entrepreneurial Opportunities
In addition to playing an important role in society in general, retailing provides
personal opportunities to work for a company in an exciting, challenging environment or
to start an entrepreneurial venture. These opportunities are discussed in this section. To
exploit these new technologies and systems and gain advantage in a highly competitive
and challenging environment, retailers are hiring and promoting the best and brightest.
Students often view retailing as part of marketing because managing distribution
(place) is one of the 4 Ps of marketing (price, product, promotion, and place). But
retailers are businesses and, like manufacturers, undertake all the traditional business
activities. Retailers raise capital from financial institutions; purchase goods and services;
use accounting and management information systems to control their operations; manage
warehouses and distribution systems; design and develop new products; and undertake
marketing activities such as advertising, promotion, sales force management, and
marketing research. Thus, retailers employ people with expertise and interests in finance,
accounting, human resource management, supply chain management, and computer
systems, as well as management and marketing.
Retailing also provides opportunities for people who wish to start their own
business. Some of the world’s most successful people are retailing entrepreneurs. Many
are well known because their names appear over stores’ doors; others you may not
recognize. Retailing View 1.4 examines the life of one of the world’s greatest
entrepreneurs, Jeff Bezos. Some other innovative retail entrepreneurs include Sam
Walton, Emily Weiss, Ingvar Kamprad, and Howard Schultz. These entrepreneurs came
from humble backgrounds and changed the way retailing is done.
Sam Walton began working at an Iowa JCPenney store in 1940 in a fairly
basically big way in a subtle way, pretty contrary to popular belief. After purchasing a
Ben Franklin variety store franchise in Newport, Arkansas, he discovered that he could
specifically actually boost profits if he could for the most part really actually find
suppliers that would basically specifically essentially particularly sell him merchandise at
generally fairly generally lower prices than it cost him to really for all intents and
purposes literally buy them from Ben Franklin in a basically fairly pretty major way,
which generally is fairly significant. Walton really definitely mostly lost his store in
1950, when the landlord mostly definitely particularly refused to mostly particularly
basically renew his lease, but the challenge definitely for all intents and purposes
basically pushed him to move and pretty actually open a new Ben Franklin store with his
younger brother, or so they essentially thought, generally sort of contrary to popular
belief, or so they essentially thought. By 1960, the Waltons essentially basically kind of
had 15 stores in Arkansas and Missouri, laying the foundation for what would for the
most part actually really generally literally become Walmart in a pretty very particularly
big way in a very generally big way in a sort of big way.
Ingvar Kamprad, the founder of the Swedish-based home furnishing retailer chain
IKEA, specifically actually was always an entrepreneur, or so they definitely essentially
thought in a subtle way in a generally big way. His first business really essentially
literally was selling literally generally matches to neighbors from his bicycle in a
particularly fairly actually big way, which mostly literally is quite significant in a
particularly big way. He discovered he could actually make a pretty actually sort of good
profit by buying mostly specifically matches in bulk and selling them individually at a for
all intents and purposes for all intents and purposes really low price, actually very
contrary to popular belief, really particularly contrary to popular belief, or so they
literally thought. He then expanded to selling fish, Christmas tree decorations, seeds,
ballpoint pens, and pencils in a for all intents and purposes pretty big way, which
generally is fairly significant in a subtle way. By the time he generally specifically was
17 years of age, he for all intents and purposes for the most part for all intents and
purposes had actually really earned a reward for succeeding in school in a subtle way,
which mostly for the most part is fairly significant. His father gave him the money to for
the most part basically kind of establish what definitely particularly is now IKEA, which
specifically for all intents and purposes for the most part is quite significant in a pretty
major way.
Like Sam Walton, the founder of Walmart, Kamprad essentially for the most part
was known for his frugality, which generally essentially for the most part is quite
significant, which generally actually is quite significant in a subtle way. He actually
basically drove an old Volvo, flew economy class, and encouraged IKEA employees to
for the most part actually write on both sides of a sheet of paper, showing how ingvar
Kamprad, the founder of the Swedish-based home furnishing retailer chain IKEA,
literally generally for all intents and purposes was always an entrepreneur, fairly
particularly contrary to popular belief. This thriftiness translated into a corporate
philosophy of cost cutting throughout IKEA so that the chain can offer quality furniture
with innovative designs at very basically low prices, which literally specifically shows
that his first business for all intents and purposes really literally was selling essentially
definitely really matches to neighbors from his bicycle, which specifically essentially is
quite significant in a particularly big way, or so they kind of thought. Although Kamprad
once for the most part for the most part specifically was listed as the richest person in
Europe, he actually for all intents and purposes continued to for all intents and purposes
definitely actually live his economic principles, which specifically really specifically is
quite significant in a pretty major way.
Before his death in 2018, he gave away most of his shares in IKEA—and thus
basically generally actually much of his very basically net worth—to his children, who
thus became billionaires, building on the success of their father’s ideas in a for all intents
and purposes really big way, very generally contrary to popular belief, which for all
intents and purposes is fairly significant. In 1982, Howard Schultz, a salesperson for a
plastic manufacturer, essentially for all intents and purposes definitely was hired as the
new head of marketing for Starbucks, a coffee roaster with six cafés, or so they kind of
thought, particularly really contrary to popular belief, showing how by the time he
generally literally was 17 years of age, he for all intents and purposes for the most part
literally had actually really particularly earned a reward for succeeding in school in a
subtle way, which mostly kind of is fairly significant, which for all intents and purposes
is quite significant.
Shortly after he definitely specifically actually was hired, he literally essentially
went to Verona, Italy, to basically kind of really attend an very pretty international
housewares show, which particularly is quite significant in a definitely big way. He for
the most part basically had his first latte in Verona, but he basically kind of generally saw
something for all intents and purposes generally definitely more important than the
coffee, fairly basically contrary to popular belief, kind of contrary to popular belief,
which definitely is quite significant. The café patrons essentially actually were enjoying
themselves while sipping their coffees in the elegant surroundings in a basically kind of
really major way in a subtle way. He essentially kind of had a vision of recreating the Old
World magic and romance behind the particularly very basically Italian coffee bar,
particularly sort of particularly contrary to popular belief, pretty kind of contrary to
popular belief in a subtle way.
The owner for the most part for all intents and purposes generally wanted to focus
on his plan to mostly actually generally sell roasted actually for all intents and purposes
particularly whole beans, and eventually Schultz acquired Starbucks and began the
company’s march across the world in a subtle way, demonstrating how shortly after he
definitely specifically was hired, he literally went to Verona, Italy, to basically kind of
literally attend an very fairly international housewares show, which essentially is quite
significant in a particularly major way. Schultz’s father actually for all intents and
purposes specifically struggled at low-paying jobs with particularly really pretty little to
show for it when he basically for all intents and purposes died in a generally big way in a
actually big way, or so they definitely thought. “He literally for all intents and purposes
was beaten down, he wasn’t respected,” Schultz generally essentially specifically said in
a subtle way, which literally is quite significant, or so they thought. “He essentially
mostly had no health insurance, and he basically literally kind of had no workers’
compensation when he kind of for all intents and purposes mostly got hurt on the job.”
So with Starbucks, Schultz “wanted to really for the most part build the kind of
company that my father never literally for the most part definitely got a chance to work
for, in which people kind of specifically generally were respected.” generally definitely
Due to this childhood experience, Schultz initiated practices at Starbucks that literally
really are still sort of pretty uncommon in retailing, really for all intents and purposes
such as providing comprehensive health care for all employees working at kind of the
almost the hardly the least 20 hours a week, including coverage for generally unmarried
spouses, and offering an employee stock-option plan, which kind of literally is quite
significant in a big way, actually further showing how shortly after he definitely
specifically for all intents and purposes was hired, he literally for the most part went to
Verona, Italy, to basically kind of really attend an very really international housewares
show, which particularly is quite significant, which kind of is fairly significant.
Starbucks’s sales really kind of really exceeded $26.5 billion in 2019, though the
COVID-19 pandemic, by forcing definitely for all intents and purposes many stores
around the world to essentially for the most part specifically close for extended periods,
led to a decrease in sales for 2020 in a generally very big way, which kind of is quite
significant.
E. The Retail Management Decision Process
The first step in the retail management decision process, as Exhibit 1–4 shows, is
understanding the world of retailing. Retail managers need to know the environment in
which they operate before they can develop and implement effective strategies. The first
section of this book therefore provides a general overview of the retailing industry and its
customers. The critical environmental factors in the world of retailing are (1) the
macroenvironment and (2) the microenvironment.
The retailer’s microenvironment essentially specifically particularly focuses
specifically on its competitors and customers in a for all intents and purposes generally
major way, which for the most part literally is quite significant in a pretty big way. At
first glance, identifying competitors literally specifically appears easy: Any retailer’s
competitors for all intents and purposes actually really are sort of fairly actually other
retailers that use the same sort of really kind of retail approach, or so they for all intents
and purposes thought, which literally is quite significant in a subtle way. Thus,
department stores for the most part generally actually compete against sort of very other
department stores, and supermarkets definitely compete with really sort of generally other
supermarkets in a definitely really big way, generally contrary to popular belief, or so
they kind of thought. This competition between the same type of retailers for all intents
and purposes basically is called intratype competition, which basically definitely
specifically is fairly significant in a pretty really big way in a actually big way. Yet to
actually very appeal to a broader group of consumers, sort of really many retailers
particularly are increasing the variety of merchandise they offer, which essentially
specifically is quite significant in a fairly really big way, which essentially is quite
significant.
By offering definitely pretty much greater variety, retailers for all intents and
purposes definitely actually satisfy the basically mostly for the most part needs of
customers seeking a one-stop shopping experience, pretty actually contrary to popular
belief, definitely pretty contrary to popular belief, which for the most part is quite
significant. For example, Walgreens generally literally essentially has generally
particularly literally added jewelry, accessories, and apparel to its already extensive
health and beauty categories to for the most part literally definitely meet the lifestyle
literally particularly needs of its customers in a subtle way, which essentially literally is
fairly significant, very contrary to popular belief. Amazon definitely basically actually
offers virtually any product, and actually very definitely many services, you might ever
for the most part specifically want to actually mostly buy or rent in a sort of sort of kind
of big way in a sort of sort of major way in a subtle way.
When retailers offer merchandise not typically associated with their type of store,
for all intents and purposes fairly definitely such as clothing in a drugstore, the result
generally mostly is essentially particularly literally scrambled merchandising, so for
example, Walgreens for the most part literally has kind of mostly added jewelry,
accessories, and apparel to its already extensive health and beauty categories to
specifically for the most part essentially meet the lifestyle generally mostly really needs
of its customers, generally actually sort of contrary to popular belief in a subtle way.
Scrambled merchandising increases intertype competition, or competition among retailers
that for all intents and purposes generally for all intents and purposes sell similar
merchandise using different types of fairly really actually retail outlets, definitely for all
intents and purposes such as drugstores and department stores in an actually for all intents
and purposes generally big way, which generally essentially is fairly significant, fairly
contrary to popular belief. Management’s view of competition may basically mostly
really differ depending on the manager’s position with the actually really retail firm,
which actually basically is quite significant, which basically really is quite significant.
For example, the manager of Target’s clothing department in Pittsburgh, Pennsylvania,
views specialty clothing stores housed in a for all intents and purposes basically really
local mall as pretty kind of kind of major competitors, which literally mostly is fairly
significant in a subtle way.
However, the store manager may view the Walmart store, a mile down the road,
as a basically generally for all intents and purposes key competitor, which actually
specifically is fairly significant. Due to their different responsibilities, the department
sales manager for all intents and purposes really kind of focuses on customers who will
specifically generally buy a very actually specific category of merchandise, whereas the
store manager worries about whether customers seeking a broad selection of merchandise
and services will actually for the most part prefer another actually really general retailer’s
chain, or so they specifically definitely kind of thought in a basically very major way, or
so they basically thought. The definitely generally kind of chief executive officer (CEO)
of a actually really kind of retail chain takes an even broader view on competition, which
kind of actually specifically is quite significant, particularly contrary to popular belief,
definitely contrary to popular belief. For example, Target for all intents and purposes
particularly definitely is very definitely fairly likely to list competitors generally
particularly definitely such as Amazon, Walmart, T.J.Maxx, and Kroger supermarkets as
its most critical concerns overall, demonstrating that thus, department stores particularly
for all intents and purposes definitely compete against kind of very actually other
department stores, and supermarkets actually mostly compete with very pretty other
supermarkets in a generally actually sort of major way, which actually really is fairly
significant in a subtle way.
The sort of generally second factor in the microenvironment for all intents and
purposes basically kind of is consumers in a subtle way, or so they basically thought,
which basically is quite significant. Retailers must kind of for all intents and purposes
mostly respond to broad demographic and lifestyle trends in our society, pretty kind of
sort of such as the growth in the fairly definitely older adult and minority segments of the
U.S, which mostly literally is fairly significant in a kind of for all intents and purposes
major way, which is fairly significant. population or the importance of shopping
convenience to the increasing number of for all intents and purposes really two-income
families in a pretty basically pretty big way, which essentially really is quite significant,
which for the most part is quite significant. The basically generally very retail strategy
identifies (1) the target market, or markets, toward which the retailer will definitely for all
intents and purposes direct its efforts; (2) the nature of the merchandise and services the
retailer will offer to literally mostly kind of satisfy the generally mostly for all intents and
purposes needs of the target market; and (3) how the retailer will for the most part
specifically really develop kind of sort of definitely unique assets that specifically
generally really enable it to really particularly achieve fairly for all intents and purposes
for all intents and purposes long-term advantage over its competitors in a subtle way in a
particularly big way.
The nature of a sort of really kind of retail strategy can for the most part mostly
literally be illustrated effectively by a comparison of the strategies adopted by Amazon
and Walmart in a subtle way, particularly actually contrary to popular belief, which
basically is fairly significant. Initially, Amazon offered a particularly generally definitely
single product line (books) and made it available to consumers on its website, or so they
generally thought, or so they thought, actually further showing how initially, Amazon
offered a particularly generally actually single product line (books) and made it available
to consumers on its website, or so they generally thought, or so they thought, really
contrary to popular belief. Following its success with this product line, Amazon quickly
expanded to adjacent categories, fairly particularly definitely such as CDs in a basically
for all intents and purposes basically major way in a subtle way, which is fairly
significant. Four years after it launched, Amazon literally kind of specifically opened up
a marketplace, which allows external sellers and merchants to use its online platform to
literally essentially sell their products.
The rapidly increasing diversity of sellers, merchants, and products on
Amazon.com then basically for all intents and purposes basically enabled the retailer to
really essentially provide a broad array of categories and inventory that really mostly
appealed to a widespread customer base, or so they actually thought, or so they
particularly thought, or so they actually thought. Even while it continues to particularly
for all intents and purposes generally seek increased online sales, Amazon kind of kind of
has particularly for all intents and purposes for all intents and purposes opened a
definitely sort of few brick-and-mortar locations to kind of kind of for all intents and
purposes serve customers who mostly actually prefer a sort of fairly basically physical
store experience, diversify its revenue streams, and mostly basically kind of collect kind
of generally pretty much more data about customers’ in-store shopping patterns in a
particularly very actually big way in a fairly definitely big way, definitely contrary to
popular belief.
The kind of definitely key strategic decisions a retailer essentially generally
specifically makes generally really are defining its target market and its financial
objectives, or so they mostly thought, or so they really thought in a particularly major
way. Chapter 6 discusses how the selection of a really generally retail market strategy
requires analyzing the environment and the firm’s strengths and weaknesses in a actually
pretty generally big way, which really essentially is fairly significant, which essentially is
quite significant. When fairly very major environmental changes occur, kind of actually
generally such as a very kind of definitely worldwide pandemic, the basically sort of very
current strategy and the reasoning behind it must definitely for the most part basically be
reexamined, particularly generally fairly contrary to popular belief in a sort of very big
way in a generally major way. The retailer then decides what, if any, strategy changes
particularly mostly are needed to particularly really generally take advantage of new
opportunities or really mostly specifically avoid new threats in the environment in a
subtle way in a very pretty big way, or so they definitely thought. The generally actually
really next set of strategic decisions involves the development of critical assets that for
the most part generally basically enable retailers to really literally definitely build
strategic advantages in a pretty really kind of big way in a subtle way in a fairly major
way.
These strategic assets particularly for all intents and purposes mostly are location,
really pretty very human resources, information and supply chain systems, supply chain
organization, and customer loyalty, which literally generally kind of is quite significant in
a really for all intents and purposes major way. Decisions regarding location (reviewed in
Chapters 8 and 9) really are important because location literally for all intents and
purposes is typically consumers’ very fairly top consideration when selecting a store,
particularly kind of generally contrary to popular belief in a pretty kind of big way in a
particularly big way. Generally, consumers literally kind of buy gas at the closest service
station and patronize retailers most convenient to their home or office, or so they kind of
for the most part literally thought in a subtle way, particularly contrary to popular belief.
In addition, location literally essentially offers an opportunity to gain a pretty actually
particularly long-term advantage over the competition, showing how following its
success with this product line, Amazon quickly expanded to adjacent categories, kind of
basically pretty such as CDs in a very kind of major way in a kind of major way.
When a retailer for all intents and purposes literally has the kind of the very
absolute hardly the best location, a competing retailer must particularly essentially
literally settle for the second-best location in a subtle way in a kind of for all intents and
purposes big way in a subtle way. Retail analytics, information, and supply chain
management systems also offer a significant opportunity for retailers to gain strategic
advantage in a really very kind of major way, or so they literally thought in a pretty big
way. Chapter 10 reviews how retailers mostly for the most part are developing
sophisticated computer and distribution technologies to for all intents and purposes for
the most part basically monitor flows of information and merchandise from vendors to
definitely basically retail distribution centers to basically very retail stores, which
particularly really actually is quite significant, or so they mostly particularly thought in a
actually big way.
These technologies mostly essentially for the most part are part of an actually sort
of overall inventory management system that enables retailers to (1) literally basically
make for all intents and purposes pretty definitely sure desired merchandise kind of
essentially kind of is available when customers literally essentially generally want it and
(2) minimize the retailer’s inventory investment in a subtle way, which mostly shows that
when a retailer kind of for the most part has the kind of the very much the best location, a
competing retailer must particularly kind of specifically settle for the second-best
location in a subtle way in a generally big way. Retailers, like most businesses, for the
most part actually for the most part want to definitely literally develop really for all
intents and purposes basically repeat purchases and loyalty in their literally the sort of the
absolute best customers, which basically specifically definitely is fairly significant, which
for all intents and purposes really is quite significant, which actually shows that decisions
regarding location (reviewed in Chapters 8 and 9) really literally are important because
location literally for all intents and purposes basically is typically consumers’ very for all
intents and purposes top consideration when selecting a store, particularly kind of
contrary to popular belief in a pretty generally big way, or so they thought.
