Kinds of Shoppers
A shopper who spends a lot of time checking out products and prices.
Comparison shopper
A license granted to another entity to retail a company's products or services in a particular area, for example Starbucks.
Franchise
The purchaser and/or consumer of the product or service.
Customer
The presence of a physical store front and face-to-face customer experience.
Brick-and-Mortar
Pure Play
A shopper who wants to find out what's trendy before make a purchase.
Follower
A type of business that has shareholders through publicly traded stock and usually has centralized decision making.
Corporation
Receives, stores, displays, and sells products and services to customers
Retailers
The companies focus is on creating a seamless customer experience through any and all shopping channels
Omnichannel
The type of mindset that best helps you grow and learn as an employee is called
Growth Mindset
Recreational shopper
Typically a single store or small regional chain -- 95% of retailer are in this category.
Independent Establishments
Companies that purchase products in large or mass quantities.
Wholesalers
Offers customers the ability to purchase through many channels
Multichannel
The type of mindset that limits your ability to grow and learn as an employee is called
Fixed Mindset
Make quick decisions, mainly inexpensive items
Impulsive Shopper
What type of ownership is McDonalds
Franchise
The entities that hold large quantities of products are called?
Wholesalers
Buying and selling through the internet.
E-Commerce
The overall impression gathered from information that is seen, heard and experienced by customers who encounter a business, its products and its services.
Company brand
The shopper who repeatedly chooses to shop at the same retailer over others usually because of positive customer service.
Loyal Customer
What type of ownership is Macy's
Corporation or Corporate Chain
Produces product and goods usually from raw materials
Manufacturer
Macy's and Bath & Body Works are examples of what retail channel of distribution?
Omnichannel
The delivery of a positive, memorable experience that is more than a customer expected.
As of 2019, roughly how much money do U.S. retailers lose annually due to poor customer service?
$60-$70 Million
After one negative experience, approximately what percentage of people say they will never do business with that company again?
50%
What percentage of the general people has a disability that is not visible to the eye.
two-thirds
As if 2019, what percentage of the jobs are retail in the U.S.
20%-25%
Where are large bills ($50s and $100s) typically placed within a cash register?
Below the cash drawer