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C. Retail Ex. 8. Read the text.

Retail consists of the sale of goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail. Retailing may include delivery. Purchasers may be individuals or businesses. In commerce, a "retailer" buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells smaller quantities to the end-user. Retail establishments are often called shops or stores. Online retailing, a type of electronic commerce used for business-to-consumer (B2C) transactions and mail order, is a form of non-shop retailing.

There are the following types of retailers by marketing strategy:

  • Department stores are very large stores offering a huge assortment of "soft" and "hard” goods at average price. They offer considerable customer service.

  • Supermarkets are mainly self service stores and sell mostly food products.

  • Warehouse stores offer low-cost, often high-quantity goods piled on pallets or steel shelves.

  • Hypermarkets are huge self-service stores, usually built in the suburbs of the city.

  • Mom-And-Pop is a retail outlet that is owned and operated by individuals. The range of products are very selective and few in numbers.

  • Specialty stores give attention to a particular category and provide high level of service to the customers.

  • Shopping malls are large enclosed shopping centres. They sell products, food and entertainment under a roof.

  • E-tailers are ideal for customers who do not want to travel to retail stores and are interested in home shopping. The customer can shop and order through the Internet.

  • Vending Machines are automated pieces of equipment where customers can drop in the money and acquire the products.

  • Automated Retail stores are self service (robotic kiosks located in airports, grocery stores). The stores accept credit cards and are usually open 24/7.

Ex. 9. Answer the questions:

1. What is retail? Who is a retailer?

2. What kinds of goods do department stores (supermarkets) sell?

3. Where can customers buy cheap goods?

4. How is retail conducted via the Internet called?

5. What kinds of products do vending machines sell? Are there such machines in your office?

6. Are there any automated retail stores in your town (country)?

7. What types of retailers are there in your town? Which of them do you often visit?

Ex. 10. Agree or disagree with the statements:

1. Department stores offer a huge assortment of food products.

2. Warehouse stores are very small stores offering expensive goods.

3. Specialty stores sell most goods needed.

4. Hypermarkets provide a very wide range of products.

5. Automated retail stores accept credit cards.

D. Big Business

Big Business is a term used to describe large corporations. Organizations that fall into the category of "big business" include ExxonMobil, Wal-Mart, Google, Microsoft, General Electric, General Motors, Citigroup, Goldman Sachs, etc.