Retail marketing strategy Essay Example | Topics and Well Written Essays - 2000 words

Retail marketing strategy - Essay Example The entrepreneurs behind these ventures risk their capital, invest their time and make a living by offering consumers something they need or want. Most retailing involves buying merchandise or a service from a manufacturer, wholesaler, agent, importer or other retailer and selling it to consumers for their personal use. The price charged for the goods or services covers the retailer's expenses and includes a profit. Each year, this vital sector of the UK economy accounts for about 08 percent of our gross national product--more than $1 billion.. Most are store retailers, though there are other types of enterprises--such as e-commerce, mail order, automatic-merchandising (vending) machines, direct retailing (door-to-door and home party sales), and service providers. There are a considerable number of commentaries on the changing food retailing sector in UK. The sector is seen as being at the fore front of change and the leading food retailers are amongst the largest companies. Growing concentration in the economy has been associated with the increasing power of multiple retailers and a decline in the strength of the co-operatives and independents. The rise of the multiple retailers particularly through economies of scale and replication has produced a situation where only a handful of companies dominate food retailing. Currently the leading food retailers are Sainsbury and Tesco with Safeway in third place.