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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.
A grocery store , grocery shop or grocer's shop or simply grocery [1] is a retail store that primarily retails a general range of food products, [2] which may be fresh or packaged. In everyday U.S. usage, however, "grocery store" is a synonym for supermarket , [ 3 ] and is not used to refer to other types of stores that sell groceries .
Retail firms provide data on the dollar value of their retail sales and inventories. A sample of 12,000 firms is included in the final survey and 5,000 in the advanced one. The advanced estimated data is based on a subsample from the US CB complete retail and food services sample. [91]
Retail sales for the month increased 0.7% from the previous month, according to Census Bureau data. Economists had expected a 0.4% increase in spending, according to Bloomberg data.
Consumer spending is American’s main economic engine, powering two-thirds of the US economy. Retail sales, which capture spending on goods and food services, make up a big chunk of overall spending.
All-commodity volume (ACV) is a weighted measure of product availability, or distribution, based on total store sales. In other words, ACV is the percentage of sales in all categories that are generated by the stores that stock a given brand (again, at least one SKU of that brand) (note: ACV can be expressed as a percentage or as a dollar value (total sales of stores carrying brand).
FMI, The Food Industry Association, is a national trade association for the food industry, especially food retailers and wholesalers, in the USA. FMI's members include approximately 40,000 retail food stores and 25,000 pharmacies, representing an industry with $800 billion in annual sales. [1] The association's focus is on food marketing.
Sales density is a measure of performance in retailing. It is the revenue generated for a given area of sales space, and is presented as a monetary value per square metre. The higher the figure, the more efficiently the floorspace is being used. [1] It is often quoted alongside other indicators such as like for like sales. [2]