write the concept of Departmental stores and chain stores
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Definition of a Department Store
A department store is typically a large retail establishment that offers a wide variety of merchandise organized into separate departments. Merchandise featured in department stores is generally clothing for men, women and children; jewelry and accessories like handbags, belts and scarves; shoes; and cosmetics. Some department stores carry small appliances for the home, electronics, sports equipment, toys and furniture. Many department stores are part of a retail chain with stores in multiple locations.
Pros and Cons of Department Stores
The department store is the precursor of the modern shopping center. Shifting populations from rural areas into urban centers like New York fostered the rise of department stores in the mid-1850s. To accommodate large numbers of shoppers, move goods and manage heat, water and light, engineers and architects developed the idea of the modern skyscraper. The philosophy for both the department store and the contemporary shopping center is that shoppers should be able to find whatever they need under one roof. To further accommodate shoppers, department stores offer restaurants, restrooms, home delivery, gift wrapping and purchase on credit. For many shoppers, the conveniences of department store shopping far outweighs the disadvantage of maneuvering through large stores with an abundance of merchandise.
Definition of Chain Stores
Chain stores are retail outlets in multiple locations that share a brand and central management. They usually feature standardized business methods. Some chain stores are branches owned by one company, while others are franchises owned individually. Some features common to chain stores include centralized marketing and purchasing, resulting in lowered cost to the consumer and higher profit for the store.
Pros and Cons of Chain Stores
Chain stores began in the middle of the 19th century with the establishment of the Great Atlantic & Pacific Tea Company, also known as A&P, in New York City. Woolworth and J.C. Penney soon followed suit. Today, Walmart is the largest chain store. While the capability of chain stores to buy in volume can lower prices for the consumer, some people criticize chain stores for promoting a generic nationwide “homogenization” of the culture by making so many stores the same. Others feel chain stores contribute to suburban sprawl. Some consumers enjoy the increased variety and reduced uncertainty provided by chain stores.
Grocery Store, Supermarket, and Hypermarket Differences
Having explained what’s the difference between supermarket and superstore, it’s important to differentiate grocery stores, supermarkets, and hypermarkets. When it comes to inventory, grocery stores order based on demand, whereas supermarkets and hypermarkets order inventory in bulk to ensure that they are always overstocked. In terms of size, grocery stores tend to be small and contained, and typically don’t offer much beyond food and drink. When it comes to supermarket vs. hypermarket, the main difference is that a hypermarket is a supermarket that also offers big-ticket items such as appliances, and is also much bigger. Supermarkets are large, hypermarkets are massive. In fact, size isn’t just relevant in the supermarket vs. hypermarket discussion, it’s also important when making comparisons to grocery stores because hypermarkets are typically three to four times larger than grocery stores. Another difference is that supermarkets and hypermarkets are typically part of a large chain, and as a result profit margins tend to be lower because of low prices. Grocery stores are typically independent and tend to have higher prices since they do less of a volume business. One final distinction in the supermarket vs. hypermarket discussion is décor. Many hypermarkets, such as Costco, resemble large warehouses that are impersonal. Supermarkets, on the other hand, are typically decorated to be warm and inviting, so they can attract more customers.