Who are Fixed Shop Retailers?
The retailers selling goods from a permanent place are known as Fixed Shop Retailers. They don’t move from one spot to another to serve their customers. Fixed Shop Retailers are one of the most common types of retailing trade in a market. They are divided into two categories; viz., fixed shop small retailers and fixed shop large retailers. For example, the Kiryana stores near our houses are run at a fixed place and provide us with a variety of goods and services. The main advantage of fixed shop retailers is that it provides a wide variety of products in one place and has more trust among people.
Characteristics of fixed shop retailers
- As compared to the itinerant trades, fixed shop retailers usually have much more resources. They even for the most part operate on a pretty large scale. However, the size of fixed shops can vary from small to large.
- These stores generally sell a variety of items, including both consumer durables and non-durables.
- The fixed shop retailers have more trust and credibility in the minds of people.
- They also provide the customers with additional services such as home delivery, maintenance, credit facilities, etc.
Types of Fixed Shop Retailers
On the basis of the extent of their activities, fixed shop retailers can be divided into two groups:
- Fixed Shop Small Retailers: Fixed small store retailers often operate on a small scale and sell just a limited range of products. These businesses are operated by their owners with the assistance of helpers and are located in residential neighborhoods.
- Fixed Shop Large Stores: Fixed store large retailers are those that have a permanent location and trade in enormous quantities. They have become increasingly popular as a result of urbanization, modernization, and other factors.
Fixed Shop Small Retailers
1. General Stores: These stores sell a wide range of products to meet the daily needs of the customers. One can find these stores in residential areas and local markets. These stores are very popular among the people as they fulfill their day-to-day needs and also provide their regular customers with credit facilities. These stores are open for convenient times for the customers and also remain open till late. The image of the owner established by them among the residents nearby is one of the main advantages for them to run a successful business. The products available at general stores are soft drinks, soaps, cold drinks, detergent powder, etc.
2. Specialty Shops: These stores specialize in a single product line, such as shoes, toys, presents, children’s clothing, electrical items, and so on. The specialty shops are quickly gaining customers in urban areas. As they are selling a single product line, these are located in a central place where they can attract a large number of customers. The biggest advantage of specialty shops is that it provides consumers with a wide variety of goods in one place. It allows the consumers to save their time as they don’t have to search for different shops and then select.
3. Street Stall Holders: These shopkeepers run a small business by opening their stalls in heavy traffic areas such as street crossings, main roads, etc. These vendors provide the customers with cheap quality products such as soft toys, soft drinks, etc. As the area covered by their stalls is small, they sell goods on a small scale. It provides an advantage to the customers by providing them with goods at their convenience. The vendors purchase goods from wholesalers and local suppliers to sell on their stalls.
4. Second-Hand Goods Shop: These stores sell used or second-hand products such as vehicles, furniture, and books. They cater to the requirements of those with little financial resources. They usually sell inexpensive products in the market. The goods are sold at relatively low prices. Some of these shops also provide the customers with antiques, rare items, or goods of historical value. The shops can be found in the form of platforms. on street crossings, or even with good infrastructure depending on the budget of the owner and the nature of goods sold by them.
Fixed Shop Large Stores
1. Departmental Stores: A departmental store is a large store selling a wide variety of products in the market. The biggest advantage of departmental stores is that the products are placed on different shelves in well-defined departments making it easy for the customers to search for the product they need. For example, these stores have different food, groceries, furniture, toiletries departments, etc. The wide variety of departments provides so many goods that these stores satisfy the demand of a diverse market segment. Macy’s is a famous example of such a department store. Big Bazaar or Central stores might be used as examples in India. The departmental stores are located in a central place where a large number of customers can be attracted easily.
2. Chain Stores: Chain stores are a collection of retail outlets that operate under the same brand name and are owned by the same company. These types of retail stores began in the United States but are now found all over the world. Croma or DMart are two common examples of chain stores. The chain stores are similar in appearance and design. The stores provide the customers with branded and standardized consumer products with great sales turnover. The biggest advantage of running a chain store is that if one of the stores is not running well or has incurred a huge loss, it can be rectified with the profits earned by the store at other locations.