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Leakage (retail)
Retail leakage occurs when local people spend a larger amount of money on goods than local businesses report in sales, usually due to people traveling to a neighboring town to buy goods. Retail sales leakage occurs when there is unsatisfied demand within the trading area and that the locality should provide extra stores spaces for such type of businesses. After all, retail leakage does not necessarily translate into opportunity. For instance, there could be tough competition in a nearby locality that leads the market for same type of product. Many small - to medium-sized communities experience leakage of retail expenditures as local citizens drive to neighboring towns to shop at national retail chains (e.g. Tesco, Asda) or eat at national restaurant chains (e.g. Slug and Lettuce, Harvester). Attracting such national retail chain stores and restaurants to a community can prevent this type of expenditure leakage and create local jobs. The economic definition of leakage is a situation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit. Retailers are the final link in the supply chain from producers to consumers. Retail markets and shops have a very ancient history, dating back to antiquity. Some of the earliest retailers were itinerant peddlers. Over the centuries, retail shops were transformed from little more than "rude booths" to the sophisticated shopping malls of the modern era. In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar and online retailing. Digital technologies are also affecting the way that consumers pay for goods and services. Retailing support services may also include the provision ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goods
In economics, goods are items that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product. A common distinction is made between goods which are transferable, and services, which are not transferable. A good is an "economic good" if it is useful to people but scarce in relation to its demand so that human effort is required to obtain it.Samuelson, P. Anthony., Samuelson, W. (1980). Economics. 11th ed. / New York: McGraw-Hill. In contrast, free goods, such as air, are naturally in abundant supply and need no conscious effort to obtain them. Private goods are things owned by people, such as televisions, living room furniture, wallets, cellular telephones, almost anything owned or used on a daily basis that is not food-related. A consumer good or "final good" is any item that is ultimately consumed, rather than used in the production of another good. For example, a microwave oven or a bicycle that is sold to a consumer is a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tesco
Tesco plc () is a British multinational groceries and general merchandise retailer headquartered in Welwyn Garden City, England. In 2011 it was the third-largest retailer in the world measured by gross revenues and the ninth-largest in the world measured by revenues. It has shops in Ireland, the United Kingdom, the Czech Republic, Hungary and Slovakia. It is the market leader of groceries in the UK (where it has a market share of around 28.4%). Tesco has expanded globally since the early 1990s, with operations in 11 other countries in the world. The company pulled out of the US in 2013, but continues to see growth elsewhere. Since the 1960s, Tesco has diversified into areas such as the retailing of books, clothing, electronics, furniture, toys, petrol, software, financial services, telecoms and internet services. In the 1990s, Tesco re-positioned itself from being a downmarket high-volume low-cost retailer, attempting to attract a range of social groups with its low-cost ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asda
Asda Stores Ltd. () (often styled as ASDA) is a British supermarket chain. It is headquartered in Leeds, England. The company was founded in 1949 when the Asquith family merged their retail business with the Associated Dairies company of Yorkshire. It expanded into Southern England during the 1970s and 1980s, and acquired Allied Carpets, 61 large Gateway Supermarkets and other businesses, such as MFI Group. It sold these acquisitions during the 1990s to concentrate on the supermarkets. It was listed on the London Stock Exchange until 1999 when it was acquired by Walmart for £6.7 billion. Asda was the second-largest supermarket chain in the United Kingdom between 2003 and 2014 by market share, at which point it fell into third place. Besides its core supermarkets, the company also offers assistance for insurance and payment services and a mobile phone provider. In February 2021, the Issa brothers (Mohsin and Zuber) and TDR Capital acquired Asda. Walmart retains "an equi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Slug And Lettuce
Slug and Lettuce is a chain of bars that operate in the United Kingdom, with a large number located in London and South East England. As of 2017, there are a total of 70 outlets. Hugh Corbett opened the first Slug and Lettuce in Islington in 1985. He attempted to enhance the public house environment, at a time when standards were often low. The bars are designed for a youthful clientele, and aim to attract an equal number of men and women with "female friendly" designs. The chain has remained relevant by continually re-inventing itself for the contemporary marketplace. The chain has gone through a number of owners throughout its history, and is currently owned by the Stonegate Pub Company, based in Luton, Bedfordshire. History Hugh Corbett, an entrepreneur with a background in the hotel industry, opened The Slug and Lettuce pub on Islington Green, North London in 1985. At the time, Islington was becoming increasingly gentrified due to its proximity to the City of London fina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harvester (restaurant)
Harvester is a British casual dining restaurant chain with over 230 outlets (as of December 2015) in the United Kingdom. The first location was The George Inn, opening in 1983 in Morden, Greater London. The chain was seen before as a rival to Whitbread's Beefeater restaurants. Bass On 21 July 1995, Bass bought the seventy eight restaurants of Harvester for £165 million. Whitbread had offered £150 million for the chain. Most Harvesters were in the South East, and Bass had plans to rebrand other restaurants (such as the former Innkeeper's Fayre) elsewhere in England as Harvesters. When Bass divested its brewing division in 2000, the chain was looked after by the renamed company, Six Continents, until 2003. Mitchells & Butlers On 15 April 2003, the chain Six Continents was taken over by the renamed company, Mitchells & Butlers, and had 127 outlets. By 2012, there were over two hundred hotels across the United Kingdom. The brand grew far larger after the purchase of a large ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shrinkage (accounting)
In accounting, inventory shrinkage (sometimes shortened to shrinkage or shrink) occurs when a retailer has fewer items in stock than in the inventory list due to clerical error, goods being damaged, lost, or stolen between the point of manufacture (or purchase from a supplier) and the point of sale. This affects profit: if shrinkage is large, profits decrease. This leads retailers to increase prices to make up for losses, passing the cost of shrinkage onto customers. In 2008, the retail industry in the United States experienced shrinkage rates of around 1.52% of sales.''National Retail Security Survey'' (2009) University of Florida During the same year, retailers in Europe and Asia Pacific reported average shrinkage of about 1.27% and 1.20% of sales, respectively.''Global Retail Theft Barometer 2008'' Causes According to the 2008 National Retail Security Survey conducted at the University of Florida, a shrinkage rate of 1.51% translates to $36.3 billion in annual loss ($1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Point Of Sale
The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but can also be dispensed with or sent electronically. To calculate the amount owed by a customer, the merchant may use various devices such as weighing scales, barcode scanners, and cash registers (or the more advanced "POS cash registers", which are sometimes also called "POS systems"). To make a payment, payment terminals, touch screens, and other hardware and software options are available. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revenue
In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of the business. Commercial revenue may also be referred to as sales or as turnover. Some companies receive revenue from interest, royalties, or other fees A fee is the price one pays as remuneration for rights or services. Fees usually allow for overhead (business), overhead, wages, costs, and Profit (accounting), markup. Traditionally, professionals in the United Kingdom (and previously the Repu .... This definition is based on International Accounting Standard, IAS 18. "Revenue" may refer to income in general, or it may refer to the amount, in a monetary unit, earned during a period of time, as in "Last year, Company X had revenue of $42 million". Profit (accounting), Profits or net income generally imply total revenue minus total expenses in a given period. In accountancy, accounting, in the balance statement, revenue is a subsection of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
E-commerce
E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. E-commerce is in turn driven by the technological advances of the semiconductor industry, and is the largest sector of the electronics industry. Defining e-commerce The term was coined and first employed by Dr. Robert Jacobson, Principal Consultant to the California State Assembly's Utilities & Commerce Committee, in the title and text of California's Electronic Commerce Act, carried by the late Committee Chairwoman Gwen Moore (D-L.A.) and enacted in 1984. E-commerce typically uses the web for at least a part of a transaction's life cycle although it may also use other techno ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regional Economics
Regional economics is a sub-discipline of economics and is often regarded as one of the fields of the social sciences. It addresses the economic aspect of the regional problems that are spatially analyzable so that theoretical or policy implications can be the derived with respect to regions whose geographical scope ranges from local to global areas. Regional Economics: refer to the economics advantage of a geographical location and human activities of greatest height to contribute maximally to the general growth and prosperity of the region. Origins Regional economics has shared many traditions with regional science, whose earlier development was propelled by Walter Isard and some economists' dissatisfaction with the existing regional economic analysis. Despite such a rather critical view of regional economics, however, it is hard to be denied that the "economic" approach to regional problems was and has been the most significant one throughout the development of regional scienc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Analytics
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit. Retailers are the final link in the supply chain from producers to consumers. Retail markets and shops have a very ancient history, dating back to antiquity. Some of the earliest retailers were itinerant peddlers. Over the centuries, retail shops were transformed from little more than "rude booths" to the sophisticated shopping malls of the modern era. In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar and online retailing. Digital technologies are also affecting the way that consumers pay for goods and services. Retailing support services may also include the provision of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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