History of the retail industry

The strategic retail analysis typically includes following elements: Cowrie Shells and Coinage Before there was currency, there was trading. The personnel department staffs the store with qualified employees. Retail stores buy their goods from wholesalers, stock the goods, and resell them to individual consumers in small quantities.

The History of Retail Shopping: A Millennium of Change

Types of retail outlets[edit] Inside a supermarket in Russia A marketplace is a location where goods and services are exchanged.

Their duties include hiring, training, and supervising other employees, maintaining the physical facilities, managing inventory, monitoring expenditures and receipts, and maintaining good public relations. Designers compete directly with their biggest customers by opening flagships around the world, and stores compete with designers by sourcing and producing their own private label collections, often based on the prevailing runway looks.

He went on to design some 50 such malls. Etymology[edit] Retail comes from the Old French word tailler, which means "to cut off, clip, pare, divide" in terms of tailoring It is also known as product assortment width, merchandise breadth, and product line width.: Coins later replaced cowrie shells as the currency of choice.

In e-commerce only accounted for 7. Since World War II, giant supermarkets, discount houses, chain stores, and shopping malls have grown in popularity. The trappings of a modern shop, which had been entirely absent from the sixteenth and early seventeenth century store, gradually made way for store interiors and shopfronts that are more familiar to modern shoppers.

In the long term, excellent customer service provides businesses with an ongoing reputation and may lead to a competitive advantage.

Sometimes this is done to obtain necessities such as food and clothing; sometimes it is done as a recreational activity. The History of Retail Shopping: Phoenician traders and merchants were largely responsible for spreading their alphabet around the region.

Archaeological evidence and ancient manuscripts tell the story of ancient civilizations who used coins like Roman drachma and denarii.

Evolution of the Fashion Industry

They may also contain restaurants, banks, theaters, professional offices, service stations etc. This type of retail is common for small expensive items e. Some department stores offered reading rooms, art galleries and concerts.

Market towns dotted the medieval European landscape while itinerant vendors supplied less populated areas or hard-to-reach districts. This fair lasted a few weeks around Easter.

Retail Industry, Retail Sector, Retail Trade

Strategic planning concerns the choice of policies aiming at improving the competitive position of the firm, taking account of challenges and opportunities proposed by the competitive environment. Bookkeeping and accounting workers keep records of money spent and received, as well as records of payrolls, taxes, and money due from customers.

However, the immigrant connection and overcrowded conditions generally associated with the industry led to zoning restrictions that quickly pushed production from apartment buildings into lofts and away from increasingly sophisticated showrooms. They oversee the selling of food, clothing, furniture, sporting goods, novelties, and many other items depending on their business.

The first retail outlets in America were trading posts and general stores. They often provided high levels of credit financing for retail transactions. Stuart Mill locates these co-operative stores within a broader co-operative movement which was prominent in the industrial city of Manchester and in the counties of Yorkshire and Lancashire.

As villages and towns grew, trading posts developed into general stores and began to sell food, farm necessities, and clothing.

The Stylish History of American Retail Stores

May 08,  · Retail has become an integral part of modern humanity’s evolution. From trading camels (which is still practiced today, by the way) to ringing up customers with iPads, merchants have always been an important part of every era/5(). The retail field consists of supermarkets, department stores, chain stores, specialty stores, variety stores, franchise stores, mail-order houses, online merchants, and door-to-door sellers.

Retail stores buy their. The US retail industry does a half-trillion dollars in annual sales and drives the economy. Learn more about the industry with up-to-date news and analysis, statistics, openings and closings, and historical information about US and global retail chains.

Throughout it all, the industry has developed classifications of pricing and style to facilitate its basic functions of designing and selling clothes along the traditional dividing line of wholesale and retail, one that has become much less distinct in recent years.

Retail sales has evolved in the past decade as allowing customers the opportunity to participate in a more enjoyable shopping experience than ever before therefore making a positive impact on the history of retail.

For decades—even centuries in some cases—these companies have dominated the industry and played an incredible hand in our country’s commerce and, most impressively, our way of life (lest we forget that President FDR actually moved Thanksgiving Day back a week from to bend to the will of major national retailers).

History of the retail industry
Rated 0/5 based on 23 review
Evolution of retail industry | Pearltrees