OUR WEEKLY RETAIL VOCABULARY LESSON

OUR WEEKLY VOCABULARY LESSON
Week 6








A Destination Store: A kind of retail concept (can be store, catalog or website), where the consumers will organize a special shopping trip, in order to buy products.  General, it is a concept with a specialized product group and a in debt product offer.  We mainly know it, of the organized trips to a factory, presenting their products to possible consumers.

A Flat Organization: A term, describing the kind of management organization in a company.  General an organization with many subordinates, responding to one general supervisor.  Very simple management structure.

An Overstored Trading Area: A geographic area, with an excess of stores, selling similar products, with the result, that it is impossible to make a decent profit or even a break even.  Lately, happens a lot into the electro and or media retail market, where there is an excess of retailers, working with very low profit margins. 

Private Brands: A group of products, also name 'white label', made by the retailer him self, next to the typical branded products. Those products have a self created retail brand label, are only sold into the stores of the retailer, have generally bigger retail margins, lower retail prices and automatically create consumer loyalty.   The latest years, there was a huge trend towards home branded products, however lately, we can see an increasing demand for branded consumer products again.  Some mayor discount changes,..like Lidl, are slowly introducing more and more brands again, trying to upgrade their concept and captivate the brand oriented consumer.