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BTEC Business, Unit 29 Understanding Retailing, Pass 1 and Merit 1 / P1 M1
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This is my assignment for Understanding Retailing, Unit 29 Level 3 BTEC Business. This is the work I did to achieve Pass 1 and Merit 1.
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U29A1 P1 M1Unit 29 Assignment 1
P1
Definition of a retailing
Selling goods to the public by retail, selling goods to the end users / customers.
Classifications of store types
There are many different types of stores which can be put into different classifications.
Independent Retailers
Independent retailers are businesses which are privately owned with usually only a single
location and they’re often owned by an individual, family or two person partnership. An
example of this in Plymouth are the stores in the Plymouth City Market in town. An
advantage of independent retailers is they have more freedom and can easily get to know
customers, however they do have less bargaining power with suppliers. You would expect to
see independent retailers in markets or on regular streets, such as corner shops. An
advantage of these locations are they tend to be cheaper to rent than on high streets and
better suit smaller independent retailers.
Multiple Chains
A multiple chain store is a store which is part of a chain, where a business has a series of
shops which share a name and sell the same types of products and usually have a similar
layout. An example of this in Plymouth is Tesco's, which has 12 different stores (express
stores, super stores etc) across Plymouth. An advantage of multiple chain stores is that they
don't need as much space as department stores and it is easy to identify an unpredictable
branch, however branch managers have limited power. You would expect to see multiple
chain stores in retail parks or on the high street depending on what type of store it is, for
example, Next would be on the high street whereas large Tesco stores would be in retail
parks. An advantage of being on the highstreet is there is a large amount of footfall and
convenience, an advantage of being in a retail park is you can have a large amount of space
for a cheaper price than it would be on a high street.
Department Stores
Department stores are large stores which sell an assortment of different kinds of goods, an
example of this in Plymouth is Debenhams which sells own-brand and international fashion,
beauty and homeware products. An advantage of department stores are they have shopping
convenience and large volume of sales, however they do tend to have higher prices. You
would expect to see department stores on high streets / town centres, a benefit of this is
there is a lot of footfall and it is convenient to get to.
Discount Stores
Discount stores are retail shops that sell products at cheaper prices than many other stores,
many of which are also chain stores, for example Poundland. An advantage of discount
stores is they have a large variety of products and have a high amount of customers due to
low prices, however quality is not guaranteed due to the low prices. Discount stores are
usually on high streets, or in retail parks, it is an advantage to have these in both locations
because high streets have lots of footfall but you can put bigger stores in retail parks.
Hybrid Shops
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