Retail stores are an essential part of the modern economy, providing consumers with the items they need or want. There are many different types of retail stores, each with its own unique characteristics. Big Box Stores are large retailers that specialize in one type of product, such as electronics. Examples include Best Buy and Bed Bath and Beyond.
Discount stores offer lower-priced brands and discounted items, with the average size of grocery stores currently 38,000 square feet. Small-format grocery stores such as Aldi, DG Market, and smaller versions of larger chain stores have emerged in recent years. Convenience stores are characterized by longer opening hours and convenient locations, usually offering a selection of basic foods and beverages, alcohol, and everyday essentials. Many also have a gas station as part of their operations. Large stores typically occupy more than 50,000 square feet, with typical ranges between 90,000 and 200,000 square feet.
Specialty stores offer a wide variety of brands, styles or models within a relatively limited category. Examples include craft stores, furniture stores, garden centers, sporting goods stores, and bookstores. The average size of a specialty store will vary greatly depending on the type of store it is. Department stores are found in shopping malls and offer a wide range of consumer goods in different areas (or departments) of the store.
They have a reputation for being slightly more expensive than large stores and sell high-end brands. Macy's, Kohl's and Neiman Marcus are examples. Smaller-format stores such as TJ Maxx are approximately 30,000 square feet while stores like Nordstrom Rack can have more than 120,000 square feet. Smaller specialty stores can be as small as 2,000 square feet. Warehouse stores range from 84,000 to 146,000 square feet and generally follow a circular design.
Examples of retail include giants such as Wal-Mart, Best Buy and Target as well as smaller kiosks at local malls. In the marketing era retailers began to realize that offering customers differential experiences and offers is a great way to increase profits. This gave rise to the different types of retail establishments that we see today that depend on consumer behavior and the skills of manufacturers. Grid or loop designs are the most common in a superstore while dollar stores may sell products at low prices because they are not branded and are of low quality. Retailers are responsible for handling, transporting, storing, organizing, packing etc., to deliver products to consumers. Online retailers are following the fastest growing trend but still account for only 12% of the total.