P1 - Unit 29
Kojar Ahmed
Retailing is officially defined as a “Commercial transaction in which a buyer intends to
consume the good or service through personal, family, or household use.” this relates to
retailing between businesses and consumers as well as businesses and suppliers, this could
also extend to businesses doing business with other businesses. Retail is an important part
of the economy that benefits a large amount of people, generally what retailers sell is based
on the demands of the general population, this is why it is important that businesses have
the right supplies and are always in stock of in demand products. Failing to meet demands
means businesses lose out on revenue and are likely to make a loss in their business
dealings when accounting for their expenses.
In the Manchester area, there are many different types of retailers that cater to different
needs, whether it be electronic goods or clothing. Depending on the local area, a business
will decide on how they want to advertise themselves and whether the want to be seen as a
quality brand with high prices or a budget brand with low prices. Stores that have these
classifications in the Manchester area may be John Lewis and Primark. John Lewis is a
store that specialises in selling luxury brands and goods, ranging from electronics to home
furniture. A few of the brands that are sold by a retailer such as John Lewis are Gucci,
Tommy Hilfiger and Versace, as well as many others. Such brands obviously means that the
prices in their stores are likely to be higher than the average retailer.
Primark is quite different to John Lewis, this is mainly due to the brands they sell and the
quality of the products. Unlike John Lewis, Primark mainly sells budget clothing goods which
have been accumulated from different suppliers. Primark is likely not as popular as John
Lewis, mainly due to their low quality goods which have been outdone by similar, newer
retailers like River Island. As well as this, Primark has recently been the subject of
accusations that their goods are made in poor, third world countries. This has not only
affected the image of Primark in the public eye, but has also drastically their sales and their
place in the market.
Recently in and around the Manchester area, there has been a huge influx in electronic
cigarette stores. These stores have become popular in the last few years as they sell
products that are seen as an alternative to smoking, they also market themselves as being
healthier which acts as an incentive for people to purchase their products. These stores
largely operate in the centre of Manchester with a few opening up in popular social hubs
such as shopping centres. The popularity of these stores was largely unpredictable and
unforeseen as they were in production a few years before they became successful.
A popular hybrid store in both the Manchester area and around the UK is Waterstones.
Waterstones is a bookstore that allows customers to not only buy books but also sells gifts
and souvenirs, some also double as coffee shops and can be used to buy savoury goods.
Waterstones also has an online presence that allows customers to buy goods through their
website, this enables them to sell goods 24/7 which then provides more opportunities to
increase their revenue.
There are many stores and retailers that opt to have only an online presence or physical
presence, or even both. The obvious online retailer would be a business such as Amazon
eBay, whereas primarily ‘brick’ businesses would be stores such as ASDA or TESCO. There
are many advantages and disadvantages to having an online or physical presence. Firstly,
Kojar Ahmed
Retailing is officially defined as a “Commercial transaction in which a buyer intends to
consume the good or service through personal, family, or household use.” this relates to
retailing between businesses and consumers as well as businesses and suppliers, this could
also extend to businesses doing business with other businesses. Retail is an important part
of the economy that benefits a large amount of people, generally what retailers sell is based
on the demands of the general population, this is why it is important that businesses have
the right supplies and are always in stock of in demand products. Failing to meet demands
means businesses lose out on revenue and are likely to make a loss in their business
dealings when accounting for their expenses.
In the Manchester area, there are many different types of retailers that cater to different
needs, whether it be electronic goods or clothing. Depending on the local area, a business
will decide on how they want to advertise themselves and whether the want to be seen as a
quality brand with high prices or a budget brand with low prices. Stores that have these
classifications in the Manchester area may be John Lewis and Primark. John Lewis is a
store that specialises in selling luxury brands and goods, ranging from electronics to home
furniture. A few of the brands that are sold by a retailer such as John Lewis are Gucci,
Tommy Hilfiger and Versace, as well as many others. Such brands obviously means that the
prices in their stores are likely to be higher than the average retailer.
Primark is quite different to John Lewis, this is mainly due to the brands they sell and the
quality of the products. Unlike John Lewis, Primark mainly sells budget clothing goods which
have been accumulated from different suppliers. Primark is likely not as popular as John
Lewis, mainly due to their low quality goods which have been outdone by similar, newer
retailers like River Island. As well as this, Primark has recently been the subject of
accusations that their goods are made in poor, third world countries. This has not only
affected the image of Primark in the public eye, but has also drastically their sales and their
place in the market.
Recently in and around the Manchester area, there has been a huge influx in electronic
cigarette stores. These stores have become popular in the last few years as they sell
products that are seen as an alternative to smoking, they also market themselves as being
healthier which acts as an incentive for people to purchase their products. These stores
largely operate in the centre of Manchester with a few opening up in popular social hubs
such as shopping centres. The popularity of these stores was largely unpredictable and
unforeseen as they were in production a few years before they became successful.
A popular hybrid store in both the Manchester area and around the UK is Waterstones.
Waterstones is a bookstore that allows customers to not only buy books but also sells gifts
and souvenirs, some also double as coffee shops and can be used to buy savoury goods.
Waterstones also has an online presence that allows customers to buy goods through their
website, this enables them to sell goods 24/7 which then provides more opportunities to
increase their revenue.
There are many stores and retailers that opt to have only an online presence or physical
presence, or even both. The obvious online retailer would be a business such as Amazon
eBay, whereas primarily ‘brick’ businesses would be stores such as ASDA or TESCO. There
are many advantages and disadvantages to having an online or physical presence. Firstly,
