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Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers , directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit .
The retail marketing mix typically consists of six broad decision layers ... Price lining is the use of a limited number of prices for all products offered by a business.
In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [1] There is evidence that consumers tend to perceive just-below prices (also referred to as "odd prices") as being lower than they are, tending to round to the next lowest monetary unit.
Retail therapy or shopping therapy is shopping with the primary purpose of improving the buyer's mood or disposition. It occurs either due to people taking pleasure in shopping or during periods of depression or stress. Items purchased during periods of retail therapy are sometimes referred to as "comfort buys" (compare comfort food).
Consumer behaviour is the study of individuals, groups, or organisations and all activities associated with the purchase, use and disposal of goods and services.It encompasses how the consumer's emotions, attitudes, and preferences affect buying behaviour.
The retail format (also known as the retail formula) influences the consumer's store choice and addresses the consumer's expectations. At its most basic level, a retail format is a simple marketplace , that is; a location where goods and services are exchanged.
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Retailtainment is retail marketing as entertainment.In his book, Enchanting a Disenchanted World: Revolutionizing the Means of Consumption (1999), author George Ritzer describes "retailtainment" as the "use of ambience, emotion, sound and activity to get customers interested in the merchandise and in a mood to buy."