These days, starting out your own business is much easier. There are a lot of possibilities that will allow entrepreneurs like you to establish a good business venture. Both online and offline opportunities are ideal for different types of retail businesses. Many people including you are taking a deep dive into understanding – what is a retail store? What does retail mean? If you are curious, find out the answer below. We are going to share fresh ideas on starting your own retail store. And most importantly, the types of timely retail business that you can start today.
What is Retail?
Before we answer the question “what is a retail store?”, let’s define what is retail first. A retail sale happens when a business or individual sells directly to the buyer or consumer. It is more of a business-to-consumer or B2C transaction. On a Shopify blog, they stated that the aspect of sale qualifies it as a retail transaction when the buyer is the end user. This will lead us to answer to the question – what is a retail store? A store that sells directly to people who will consume or use the product. If your question is “what is a retail store”, we can share AccountLearning.com content on Philip Kotler’s definition of retailing business – Retailing includes all the activities involved in selling goods or services directly to the final consumer for personal or not intended for business use.
Now, let us find out the types of retail businesses that you can start on your own. What are the products that are good for retail business?
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Types of Retail Businesses
We live every day being surrounded by different types of retail businesses. From gasoline stations to fast food restaurants, from convenient stores to the nearest pizza house, you’ll definitely find out the answer to the question “what is a retail store”. Retail stores are located on every corner. There are four major categories of retailers that will help us identify the products they sell.
Consumables - These are soft goods such as clothing, diapers, toiletries, cosmetics, canned goods, cereals, chips, shoes, etc. While these things are accessible anywhere, you can start a subscription box. A subscription box is a pack of goods or products that can be subscribed and delivered to your customers on a weekly or monthly basis. It’s one of the best ecommerce businesses these days. Now, if you’re still asking – what is a retail store? It depends who you want to cater your small business. Remember, your customers or buyers should be the end user of the products.
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Hardlines - Examples of these are home appliances, decors, kitchenware, motorbikes, car parts, furniture, etc. These things can be sold in local shops or smaller store outlets.
Food - Food retailing is one of the most popular retail categories not only because it is a basic necessity but the growing fondness of people for food and travel. Some of the types of retail businesses are pizza parlors, burger and steakhouses, and pastries.
Artwork and Design - Did you know that arts and designs are among the best types of retail business, especially in digital works and applications? Graphic designs, photo galleries, and even website building can be a promising business startup for young artists, web designers, and developers.
If you must know, Strikingly offers a reseller program for professional website builders and designers. You can purchase a minimum of twenty sites that you can build for your clients. Our reseller program empowers web developers and designers to work exclusively for their clients while using our web services and tools.
Here are the types of retail business examples that will help you understand its nature. Most of them are stores we grew up with. People are familiar with these retail stores and local shops because it is part of our day-to-day life activities. It is where we can find the things we use every day. We can grab a drink, ice cream bar, or mint candy on the way to school or the office.
Imagine when you are a kid, going to a supermarket is one of the best experiences because you can pick almost everything you need (if only your mom will allow it). Supermarkets sell food, household supplies, gardening tools, and even maintenance products.
What is a retail store? Think of department stores where you can buy clothes, shoes, undergarments, towels, toys, and even home decors. A department store is a large retail outlet with a wide variety of products to choose from. Most of its customers buy stuff for personal use.
Grocery shops mainly cater to food products, baking supplies, fresh fruits and vegetables, beverages, milk, and dairy products, and sometimes farm-sourced goods. Most of our household necessities can also be found in this type of retail business.
Another excellent example of ‘what is a retail store’ really looks like is a convenience store. A convenience store usually operates 24/7. Aside from food products like chips, biscuits, go-to sandwiches, and lunch boxes, you can also buy cigarettes, mint candies, or newspapers in this retail outlet.
Discount stores are exclusive retail outlets for specialty goods such as sports gear, signature clothing, personal accessories, and branded cosmetics. They offer great discounts on these products.
Some Examples of Strikingly’s Retail Websites
What is a retail store? Some might be curious about the answer, or they want to explore more about retailing business. While there are so many e-commerce business opportunities online, the retail business is still one of the best options for startup business owners. You get a fair amount of discount ordering products from warehouses, manufacturers, and retail suppliers that you sell it directly to consumers at a reasonable price. Here are some retail business websites created with Strikingly that will inspire you to get started.
Beauty INU sells beautiful dresses for weddings and special occasions. They promote exclusive discounts for items shipped within the United States. Perfect dresses for women who want to look glamorous on special events. If you have an idea to start a retail business like Beauty INU, we can help you build your brand online. Start with the best website builder platform like Strikingly.
As Mantra Eyewear’s brand statement says, “look good, do good” you can never go wrong with the right style that suits you. This retail store website is built with Strikingly. Having a simple and user-friendly design is one of our specialties in website building. Try our web services, e-commerce tools, and features that can help increase your sales online.
Setting up a website at Strikingly is ridiculously easy. Check out the Inspire organics website; you will see how powerful it is to have your retail store and a consulting website simultaneously. Inspire Organics is a health website that sells exclusive products that support women’s overall wellness. Showcase your products to the world. Start with a Strikingly Simple store Now.
A retail store website and advocacy for charity works. This is how Bondi Bandits products are sold online. Retail shops online help make business brands get noticed. Anyone who wants to become an ambassador to buy stuff from Bandit basics is also helping empower girls in Cambodia to get a proper education.
In setting up a retail business, we must understand it fully. By knowing ‘what is a retail store’ and its purpose and goals, you are putting your best foot forward in business. Retailing is a good idea for startup founders who want to lead the way to ecommerce business. You can thoroughly search for manufacturers and suppliers to get wholesale discounts. You can sell it to your customers at a lower price.
The chain for retail business goes a long way, from manufacturers to wholesalers, from retail businesses to consumers, there is an added value until a specific product reaches the end user. Imagine a pair of socks that costs $1 can be sold to wholesalers for $2. Then a retail shop owner will buy it for $3 until it is sold for $4 to the consumer. This is how you profit from retailing.
You must learn how to add value and apply certain discounts on your retail products so that your target customers would patronize it. Some retailers promote their products with coupons, free shipping, or buy 1 get 1 promo. Online stores can make these promotions easier. We’ll tell you how.
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With Strikingly, we have an easy-to-set-up Simple store to sell products online. Ecommerce websites help retail shop owners establish a solid online presence. Not only does it help drive traffic to their shops, but it also increases their profit margin. Having your own online store as a retail business owner will empower you with the right tools to promote your products online. Plus, you get professional branding and marketing tools with the help of our talented team here at Strikingly. We make millions of our website users happy with our web services. You, too, can experience becoming a global business owner.