119-634: Koninklijke Ahold N.V. was a Dutch multinational retail company based in Zaandam , Netherlands . Founded in 1887 by Albert Heijn, Sr ., the company initially began as a single grocery store in Oostzaan and became the largest grocery chain in the Netherlands in 1970s, Netherlands. The company went public in 1948. It merged with Belgium -based Delhaize Group in 2016 to form Ahold Delhaize . The company started in 1887, when Albert Heijn, Sr. opened
238-403: A $ 196 million leveraged buyout of the company was engineered between a group of Tops Friendly Markets executives and private equity firm Riordan, Freeman & Spogli . In 1987, Tops installed electronic scanners , one of the last supermarkets to do so. A new era began March 27, 1991 as Tops Friendly Markets, which had grown to 145 total stores and 11,000 associates, was acquired by Ahold ,
357-496: A Bells franchisee, suggested the name "Tops" and the team chose that name because they were determined to give customers the best shopping experience. The company then changed its name to Niagara Frontier Services (NFS). In 1962, franchise systems were established for supermarkets, under the Tops Friendly Markets name, and for smaller stores as B-Kwik. In February of that year, Tops signs went up on seven stores, and
476-433: A consumerist culture, where a high level of consumption was attainable for a wide variety of ordinary consumers rather than just the elite. In Medieval England and Europe , relatively few permanent shops were to be found; instead, customers walked into the tradesman's workshops where they discussed purchasing options directly with tradesmen. In the more populous cities, a small number of shops were beginning to emerge by
595-614: A core group of profitable companies in Europe and the United States. As part of its Road to Recovery strategy, Ahold strengthened accountability, controls and corporate governance and restored its financial health, regaining investment grade in 2007. In November 2006, Ahold announced the results of a major strategic review of its businesses. As a result of this review, Ahold launched its strategy for profitable growth focused on strengthening its retail competitive position, particularly in
714-522: A day, and many consumers across the globe have Internet access both at work and at home. The broad pricing strategy is normally established in the company's overall strategic plan. In the case of chain stores, the pricing strategy would be set by head office. Broadly, there are six approaches to pricing strategy mentioned in the marketing literature: operations-oriented, revenue-oriented, customer-oriented, value-based , relationship-oriented , and socially-oriented. When decision-makers have determined
833-522: A different shareholder group in 2012. The SEC filed fraud charges against four former executives of U.S. Foodservice: the company's former CFO, former chief marketing officer, and two former purchasing executives. The purchasing executives settled the charges. The former chief marketing officer was sentenced to 46 months in prison. The former CFO was sentenced to six months of home detention and three years' probation. Anders Moberg became CEO on 5 May 2003. Under his and other new leadership appointed following
952-424: A final settlement with Ahold. In January 2006, Ahold announced that it had reached a settlement of US$ 1.1 billion (€937 million) in a securities class action lawsuit filed against the company in the United States by shareholders and former shareholders. Another class action lawsuit was filed against Ahold's auditors, Deloitte, but this suit was dismissed. The suit was brought up again by shareholders in 2007, and by
1071-602: A fine of approximately €8 million. Ahold's former CEO, CFO, and the former executive in charge of its European activities were charged with fraud by the Dutch authorities. In May 2006, a Dutch appeals court found Ahold's former CEO and CFO guilty of false authentication of documents, and they received suspended prison sentences and unconditional fines. The United States Securities and Exchange Commission (SEC) announced in October 2004, that it had completed its investigation and reached
1190-503: A flexible workforce which is available when needed but does not have to be paid when they are not, part-time workers ; as of 2012 70% of retail workers in the United States were part-time. This may result in financial problems for the workers, who while they are required to be available at all times if their work hours are to be maximized, may not have sufficient income to meet their family and other obligations. Retailers can employ different techniques to enhance sales volume and to improve
1309-508: A foothold in an existing market, a prospective retail establishment must overcome the following hurdles : When discussing the impact of technology on shopping and retail, e-commerce is often the first thing that comes to mind for retailers. However, technologies such as big data, artificial intelligence, computer vision and the Internet of Things have used data to transform every part of the shopping experience, from browsing to checkout. It
SECTION 10
#17327871337701428-440: A form of escapism where they are free to indulge fantasy and freedom. Hedonic shoppers are more involved in the shopping experience. Many different shopper profiles can be identified. Retailers develop customised segmentation analyses for each unique outlet. However, it is possible to identify a number of broad shopper profiles. One of the most well-known and widely cited shopper typologies is that developed by Sproles and Kendal in
1547-787: A former Wegmans location, named by Wegmans as the Pond Street store (which closed in June 2012) on the north side of Syracuse. The store opened on January 15, 2013. On December 6, 2012 Tops Markets announced the acquisition of three Big M supermarkets in Jordan, New York , Elbridge, New York , and Mexico, New York , from the Farrugia family. The Jordan and Elbridge locations held grand reopening ceremonies on April 24, 2013 after renovations and rebannering. The Jordan location closed in October, 2017. In March 2013, Tops Markets announced plans to open
1666-571: A franchised International-style store, which operates as a Tops Friendly Market, was opened in Lockport . The International stores feature additional floor space and a product mix of many foods from different world cultures which up until then had not been widely available in the Buffalo area. With many Canadians at the time regularly crossing the border due to relaxed duties after the recently concluded Canada-United States Free Trade Agreement and
1785-498: A full service outlet or minimal service outlet, such as no-service in the case of vending machines; self-service with only basic sales assistance or a full service operation as in many boutiques and speciality stores. In addition, the retailer needs to make decisions about sales support such as customer delivery and after sales customer care. Place decisions are primarily concerned with consumer access and may involve location, space utilisation and operating hours. Retailers may consider
1904-470: A grocery store category. The company also influenced culinary development in the country, popularizing products such as wine, sherry and kiwi fruit, contributing to the introduction of the refrigerator in Dutch households and introducing convenience items, such as ready meals and frozen pizzas, to Dutch consumers. Albert Heijn became the largest grocery chain in the Netherlands during this time, and expanded into liquor stores and health and beauty care stores in
2023-412: A lack of feedback channels for both parties. In addition, because retail enterprises needed to redevelop client relationships for each transaction, marketing costs were high and customer retention was low. All these downsides to transactional marketing gradually pushed the retail industry towards establishing long-term cooperative relationships with customers. Through this lens, enterprises began to focus on
2142-665: A major international food retailer based in the Netherlands. The same year, the first Tops Friendly Markets International Super Center opened in Amherst . At that time, the 112,000 sq ft (10,400 m ) store was the largest in Western New York, and boasted the biggest in-store bakery in the entire U.S. In the next few years additional Tops Friendly Markets International stores opened in Niagara Falls , West Seneca , Greece , and Perinton , New York. Also,
2261-512: A mix of food products and consumable household items such as detergents, cleansers, personal hygiene products. Retailers selling consumer durables are sometimes known as hardline retailers – automobiles , appliances , electronics , furniture , sporting goods , lumber , etc., and parts for them. Specialist retailers operate in many industries such as the arts e.g. green grocers, contemporary art galleries , bookstores , handicrafts , musical instruments , gift shops . To achieve and maintain
2380-453: A multiple-vendor space, operating under a covered roof. Typically, the roof was constructed of glass to allow for natural light and to reduce the need for candles or electric lighting. Some of the earliest examples of shopping arcade appeared in Paris, due to its lack of pavement for pedestrians. While the arcades were the province of the bourgeoisie, a new type of retail venture emerged to serve
2499-771: A new company, Ahold Delhaize . At completion of the merger, Ahold shareholders will own 61% of the new combined company while Delhaize Group shareholders will hold the remaining 39%. Ahold CEO Dick Boer will become CEO of the merged company, with Frans Muller , CEO of Delhaize to become deputy CEO and chief integration officer. A list of assets (formally) owned by Ahold. (also known as) AH To Go, AH XL, AH Online Marvelo Alberts Corner Family Food De Walvis Grootverbruik Ahold 50% (1999) 100% (1998) 100% (2000) 100% (2002) Supermarkets Hypermarket 100% (2001) 60% (2004) Hypermarket Banking Ahold's major shareholders were: Source: Retail Retail
SECTION 20
#17327871337702618-534: A new store on Harlem Road ( NY 240 ) in Cheektowaga, New York , in a former Jubilee Foods store. On September 1, 2011, Tops acquired Furnal's Fresh Market in Hilton, New York . It reopened as a Tops on September 29, 2011 On July 19, 2012 it was announced that Tops Friendly Markets will acquire 21 Grand Union stores in October 2012. On May 28, 2013 nine Grand Union stores held grand reopening ceremonies under
2737-486: A noted business disruption called the retail apocalypse in recent years which several retail businesses, especially in North America, are sharply reducing their number of stores, or going out of business entirely. The distinction between "strategic" and "managerial" decision-making is commonly used to distinguish "two phases having different goals and based on different conceptual tools. Strategic planning concerns
2856-985: A noun in 1433 with the meaning of "a sale in small quantities" from the Middle French verb retailler meaning "a piece cut off, shred, scrap, paring". At present, the meaning of the word retail (in English, French, Dutch, German and Spanish) refers to the sale of small quantities of items to consumers (as opposed to wholesale ). Retail refers to the activity of selling goods or services directly to consumers or end-users. Some retailers may sell to business customers, and such sales are termed non-retail activity. In some jurisdictions or regions, legal definitions of retail specify that at least 80 percent of sales activity must be to end-users. Retailing often occurs in retail stores or service establishments, but may also occur through direct selling such as through vending machines , door-to-door sales or electronic channels. Although
2975-483: A permanent retail shop-front. Research from July 2008 suggests that China exhibited a rich history of early retail systems. From as early as 200 BCE, Chinese packaging and branding were used to signal family, place names and product quality, and the use of government imposed product branding was used between 600 and 900 CE. Eckhart and Bengtsson have argued that during the Song dynasty (960–1127), Chinese society developed
3094-706: A product is placed on the shelves has implications for purchase likelihood as a result of visibility and access. Ambient conditions, such as lighting, temperature and music, are also part of the overall retail environment. It is common for a retail store to play music that relates to their target market. Two different strands of research have investigated shopper behaviour. One is primarily concerned with shopper motivations. The other stream of research seeks to segment shoppers according to common, shared characteristics. To some extent, these streams of research are inter-related, but each stream offers different types of insights into shopper behaviour. Babin et al. carried out some of
3213-435: A range of both qualitative and quantitative factors to evaluate to potential sites under consideration. Macro factors include market characteristics (demographic, economic and socio-cultural), demand, competition and infrastructure (e.g. the availability of power, roads, public transport systems). Micro factors include the size of the site (e.g. availability of parking), access for delivery vehicles. A major retail trend has been
3332-572: A result of the acquisition, all 585 employees were retained, and renovations totalling more than $ 8 million were announced for the Lockport, Depew, and Buffalo stores. After the acquisition of these stores, only one franchise location remains, in Lewiston . In 2004, Tops Friendly Markets fully remodeled a store in Perinton , and rebranded it Martin's Super Food Store in an effort to revitalize
3451-448: A strictly legal sense, a store that sells the majority of its merchandise directly to consumers, is defined as a retailer rather than a wholesaler. Different jurisdictions set parameters for the ratio of consumer to business sales that define a retail business. Retail markets have existed since ancient times. Archaeological evidence for trade, probably involving barter systems, dates back more than 10,000 years. As civilizations grew, barter
3570-432: A total known value of US$ 2.255 trillion have been announced. The largest transactions with involvement of retailers in/from the United States have been: the acquisition of Albertson's Inc. for US$ 17 billion in 2006, the merger between Federated Department Stores Inc with May Department Stores valued at 16.5 bil. USD in 2005 – now Macy's , and the merger between Kmart Holding Corp and Sears Roebuck & Co with
3689-412: A value of US$ 10.9 billion in 2004. Between 1985 and 2018 there have been 46,755 mergers or acquisitions conducted globally in the retail sector (either acquirer or target from the retail industry). These deals cumulate to an overall known value of around US$ 2,561 billion. The three major Retail M&A waves took place in 2000, 2007 and lately in 2017. However the all-time high in terms of number of deals
Ahold - Misplaced Pages Continue
3808-478: 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
3927-455: A wholesale division that purchases blocks of accommodation, hospitality, transport, and sightseeing which are subsequently packaged into a holiday tour for sale to retail travel agents. Some retailers badge their stores as "wholesale outlets" offering "wholesale prices." While this practice may encourage consumers to imagine that they have access to lower prices, while being prepared to trade-off reduced prices for cramped in-store environments, in
4046-475: Is a strong relationship between a store's positioning and the socio-economic status of customers. In addition, the retail strategy, including service quality, has a significant and positive association with customer loyalty. A marketing strategy effectively outlines all key aspects of firms' targeted audience, demographics, preferences. In a highly competitive market, the retail strategy sets up long-term sustainability. It focuses on customer relationships, stressing
4165-636: Is a subsidiary of Northeast Grocery , which also owns the Price Chopper and Market 32 supermarkets based in Schenectady, New York . As of June 2024, the company operated 148 stores and 59 gas station/convenience stores. The chain formerly operated stores in Ohio and Massachusetts . Tops Friendly Markets was co-founded by Armand Castellani, who was born in 1917 in a village outside of Rome, Italy , and Thomas Buscaglia. Castellani's family came to
4284-528: Is expected over the next four to five years. On November 18, 2009, it was announced that the chain would open a new store in Spencerport, New York . This was the first time since the Morgan Stanley acquisition that the chain had opened a new store. It opened on August 18, 2010. The 38,000 sq ft (3,500 m ) location took over space that had previously been occupied by an IGA. Tops
4403-402: Is important for organizations to embrace digital disruption in order to gain a competitive advantage. When an industry experiences digital disruption, it typically signals that consumer needs are shifting. Retailers enhance their analytics process and make better informed decisions thanks to big data, artificial intelligence, computer vision, and the Internet of Things. The use of data by retailers
4522-417: Is loosely based on the marketing mix , but has been expanded and modified in line with the unique needs of the retail context. A number of scholars have argued for an expanded marketing, mix with the inclusion of two new Ps, namely, Personnel and Presentation since these contribute to the customer's unique retail experience and are the principal basis for retail differentiation. Yet other scholars argue that
4641-493: Is mostly evident in the following aspects, based on the above-mentioned new technologies: Many leading brands choose to target tourists who specifically travel to shop or spend money while on vacation. According to the Global Retail Tourism Market Report 2019–2023, the value of the global shopping tourism market was estimated to be around $ 1.2 trillion in 2018. The report also forecasts that
4760-508: Is part of a group of investors interested in purchasing the Tops Markets chain. Flickinger's family co-financed the first 60 Tops Friendly Markets stores that opened, and stated that he hopes to restore the local focus that Tops was originally known for. On June 1, 2007, it was reported that Tops Friendly Markets agreed to repurchase its Lancaster warehouse from C&S Wholesale Grocers , while C&S will continue to operate and manage
4879-399: Is sometimes known as the retail servicescape . The store environment consists of many elements such as aromas, the physical environment (furnishings, layout, and functionality), ambient conditions (lighting, air temperature, and music) as well as signs, symbols, and artifacts (e.g. sales promotions, shelf space, sample stations, visual communications). Retail designers pay close attention to
Ahold - Misplaced Pages Continue
4998-426: Is the sale of goods and services to consumers , in contrast to wholesaling , which is the 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
5117-694: The Adirondacks region and in Central New York , further east than its market had traditionally been. They also introduced the Tops Xpress convenience store format. By the end of the year, the company celebrated another landmark with the opening of its 150th Tops store, located in Madison, Ohio . This aggressive growth was fueled in part by deliberate understatements of Ahold's debt to the financial markets. When this came to light in 2003, Tops
5236-583: The American Stock Exchange . Subsequently, the company began construction on a perishable warehouse and acquired general merchandise distributor G&G Sales and Service. The following year, 1969, NFS entered the convenience store market by opening the first Wilson Farms Neighborhood Food store in Tonawanda, New York . The same year, Tops Friendly Markets was named Retailer of the Year by
5355-810: The Canadian dollar at 90% of the value to its American counterpart, the new stores were in the right place at the right time and did even better business than expected. The 1990s were marked by a new growth in operations, including the 1996 merger with Finast in Northeast Ohio , expansion across New York, the construction of a new headquarters in Amherst, New York, and the opening of an 848,000 sq ft (78,800 m ) distribution center in Lancaster . By 1998, Tops Friendly Markets' market area stretched from Sandusky, Ohio , to Utica . In January 1999,
5474-693: The Northeast Ohio market, which consisted of 46 locations. The 46 stores were located in Greater Cleveland , Akron and Norwalk and at the time employed approximately 3,800 full and part-time employees. Tops announced on October 10, 2006 that 18 of its Ohio stores were sold to rival Giant Eagle . The store in Youngstown which closed prior to 2006, was sold, expanded, and converted to Target . An additional store in Sheffield, Ohio ,
5593-489: The Retail Format (i.e. retail formula) should be included. The modified retail marketing mix that is most commonly cited in textbooks is often called the 6 Ps of retailing (see diagram at right). The primary product-related decisions facing the retailer are the product assortment (what product lines, how many lines and which brands to carry); the type of customer service (high contact through to self-service) and
5712-521: The 100 fastest-growing U.S. retailers based on increases in domestic sales. Since 1951, the U.S. Census Bureau has published the Retail Sales report every month. It is a measure of consumer spending , an important indicator of the US GDP . Retail firms provide data on the dollar value of their retail sales and inventories. A sample of 12,000 firms is included in the final survey and 5,000 in
5831-606: The 13th century. Outside the major cities, most consumable purchases were made through markets or fairs. Market-places appear to have emerged independently outside Europe. The Grand Bazaar in Istanbul is often cited as the world's oldest continuously operating market; its construction began in 1455. The Spanish conquistadors wrote glowingly of markets in the Americas. In the 15th century, the Mexica ( Aztec ) market of Tlatelolco
5950-482: The 18th century, the typical retail store had no counter, display cases, chairs, mirrors, changing rooms, etc. However, the opportunity for the customer to browse merchandise, touch and feel products began to be available, with retail innovations from the late 17th and early 18th centuries. By the late 18th century, grand shopping arcades began to emerge across Europe and in the Antipodes. A shopping arcade refers to
6069-508: The 1970s. In 1973, the holding company Albert Heijn changed its name to "Ahold", an abbreviation of A lbert H eijn H old ing". In the 1970s, the company began expanding internationally, acquiring companies in Spain and the United States. Under a new leadership team, which for the first time did not include any members of the Heijn family, the company accelerated its growth through acquisitions in
SECTION 50
#17327871337706188-456: The Atlantic to experiment with catalogue sales. In the post-war period, an American architect, Victor Gruen developed a concept for a shopping mall; a planned, self-contained shopping complex complete with an indoor plaza, statues, planting schemes, piped music, and car-parking. Gruen's vision was to create a shopping atmosphere where people felt so comfortable, they would spend more time in
6307-723: The BonusCard, its customer loyalty program, debuted. In May 1999, all 45 Northeast Ohio Finast stores adopted the Tops Friendly Markets banner. Tops Friendly Markets entered into the new millennium by acquiring the Sugarcreek Stores chain, adding 87 stores to its Wilson Farms division. That summer, Tops installed self-scanning checkouts at 11 stores in Ohio and in late August, the first Tops fueling station premiered in Akron . In 2001, Tops acquired 22 former Grand Union stores in
6426-562: The Brand Names Foundation, an honor it would again earn in 1974. The 1970s saw Tops Friendly Markets, under the leadership of Castellani and Nanula, continue to grow in Western New York, and thrive where competitors struggled. Early in the decade, Tops began to build more company-owned stores. By the mid-70s, the company had expanded into the Rochester area, and over time, it became the only real competitor to Wegmans in
6545-656: The Frontier Commons Plaza. As a result, the store is now 55,000 square feet instead of the previous 76,000 square feet it formerly occupied. The new location also contains departments and a gas station which were not found in the former location. In 2014, Tops downsized a store in Perinton and an Irondequoit, New York store on East Ridge Road. The Irondequoit store was relocated to the Depot Plaza, which used to be anchored by Kmart . On February 21, 2018, Tops filed for Chapter 11 Bankruptcy. None of
6664-701: The Geneva Town Centre in November 2012. This new store is a 51,364 sq ft (4,771.9 m ) location and has upgraded departments, along with a gas station, that were not in the formerly larger location. Both of these stores had been 84,000 sq ft (7,800 m ) superstores that Tops built in the early 1990s. In 2013, Tops downsized another store in the Rochester suburbs. The Jefferson Rd location in Henrietta, New York , relocated to
6783-533: The Great Bear Market in Niagara Falls. Shortly thereafter, he partnered with Buscaglia, owner of a grocery equipment firm, T.A. Buscaglia Equipment Co. Throughout the 1950s, Buscaglia, as CEO, and Castellani worked together, entering into a cooperative agreement with other small stores to build the foundation of what was to become the Tops Friendly Markets chain. As the local economy boomed in
6902-610: The Lake Flower Plaza). Tops Markets announced they emerged from bankruptcy on November 19, 2018. On February 8, 2021, Price Chopper Supermarkets/Market 32 and Tops Market announced plans to merge. The new parent company will be headquartered in Schenectady, New York. The Price Chopper/Market 32 and Tops Markets businesses will retain main offices in Schenectady and Williamsville and will continue to be managed locally by their respective leaders. Nine months later,
7021-573: The Martin's Super Food Store in Amherst reverted to a Tops Market due to customer feedback, and the company announced it would no longer pursue the Martin's brand in New York. As of February 28, 2008, the remaining Martin's locations were all returned to the Tops Friendly Markets brand as part of the sale to Morgan Stanley Private Equity. The decision was made to operate the company under one banner going forward. Ahold announced on November 6, 2006 that
7140-544: The Tops banner. The remaining 12 locations were rebannered and held grand reopening ceremonies on July 2, 2013. Note that a large number of these were in the Adirondacks, and were in fact the same stores that had operated as Tops for a few years back in the early 2000s after Grand Union's bankruptcy, as noted above. The Saranac Lake location at Lake Flower Plaza closed in November 2018. On June 27, 2012 Tops Markets announced
7259-633: The Tops store in Cleveland Heights became a Dave's. All Northeast Ohio stores closed by 3 pm on December 8, 2006 and some remain unoccupied. In October and November 2012, Tops closed one store and downsized a second store. The first was the Elmridge Center store in Greece, New York which closed in October 2012. Employees and customers were absorbed into other nearby locations. The Geneva, New York , store downsized and moved into
SECTION 60
#17327871337707378-508: The United States in 1920, and eventually settled in Niagara Falls , where his father, Ferrante, opened a small neighborhood grocery store . Following his mother's death in 1933, Castellani left school to help manage the store. He continued to do so until joining the Army in 1941. He attained the rank of captain after five years' service. After World War II , Castellani returned to the family business. In 1951, he set out on his own and opened
7497-650: The United States. The company focused on building its brands by creating an improved product and service offering, delivered an improved price position and lowered operating costs; and reorganized the company into two continental organizations led by Chief Operating Officers. As part of the strategy, Ahold further focused its portfolio, including the divestment of U.S. Foodservice (completed in July 2007, to CD&R and KKR for US$ 7.1 billion), Tops (completed in December 2007, for US$ 310 million to Morgan Stanley Private Equity) and
7616-782: The acquisition of the North Boston Market Place in Boston, New York (originally a B-Kwik). On July 11, 2012 Tops Markets announced plans to open its first new store in the City of Syracuse since acquiring the Penn Traffic chain. The store opened in Valley Plaza on the cities south side on October 30, 2012 in a former P&C location although the new Tops was considerably smaller. This location closed in November 2018. In October 2012, Tops Markets began renovations at
7735-467: The advanced one. The advanced estimated data is based on a subsample from the US CB complete retail and food services sample. Retail is the largest private-sector employer in the United States, supporting 52 million working Americans. In 2011, the grocery market in six countries of Central Europe was worth nearly €107bn, 2.8% more than the previous year when expressed in local currencies. The increase
7854-505: The announcement of accounting irregularities at some of Ahold's subsidiaries in February 2003. The CEO, Cees van der Hoeven, and CFO, Michael Meurs, and a number of senior management resigned as a result, and earnings over 2001 and 2002 had to be restated. The main accounting irregularities occurred at U.S. Foodservice (now US Foods) , and, on a smaller scale, Tops Markets , in the United States, where income related to promotional allowances
7973-406: The availability of support services (e.g. credit terms, delivery services, after sales care). These decisions depend on careful analysis of the market, demand, competition as well as the retailer's skills and expertise. Customer service is the "sum of acts and elements that allow consumers to receive what they need or desire from [the] retail establishment." Retailers must decide whether to provide
8092-440: The broad approach to pricing (i.e., the pricing strategy), they turn their attention to pricing tactics. Tactical pricing decisions are shorter term prices, designed to accomplish specific short-term goals. Pricing tactics that are commonly used in retail include discount pricing, everyday low prices , high-low pricing, loss leaders , product bundling , promotional pricing, and psychological pricing . Two strategies to entice
8211-399: The buyer, money back guarantee and buy one get one free , were devised by 18th-century retail entrepreneur Josiah Wedgwood . Retailers must also plan for customer preferred payment modes – e.g. cash, credit, lay-by, Electronic Funds Transfer at Point-of-Sale (EFTPOS). All payment options require some type of handling and attract costs. Contrary to common misconception , price is not
8330-408: The chain was born. By the end of the year, NFS was composed of 15 franchised stores throughout Western New York, employing a total of 300 associates . Throughout the 1960s, NFS implemented warehousing and centralized purchasing to allow the company to grow efficiently. In 1967, Buscaglia died and Armand Castellani took over as chief executive officer . The next year, NFS went public , trading on
8449-560: The chain. The Baytowne Plaza store in Penfield, New York , known to Tops associates as the "Webster store", was not part of the transaction. The owners of the Baytowne Plaza notified all of their tenants that they would not be allowed to renew their lease upon expiration, and Tops Markets closed the doors of their store to the public on October 27, 2007. At 12:01 am on December 2, 2007, Morgan Stanley Private Equity became
8568-549: The chief executive officer. The profit margins of retailers depend largely on their ability to achieve market competitive transaction costs. The strategic retail analysis typically includes following elements: At the conclusion of the retail analysis, retail marketers should have a clear idea of which groups of customers are to be the target of marketing activities. Not all elements are, however, equal, often with demographics, shopping motivations, and spending directing consumer activities. Retail research studies suggest that there
8687-419: The choice of policies aiming at improving the competitive position of the firm, taking account of challenges and opportunities proposed by the competitive environment. On the other hand, managerial decision-making is focused on the implementation of specific targets." In retailing, the strategic plan is designed to set out the vision and provide guidance for retail decision-makers and provide an outline of how
8806-890: The company's operations in Poland (completed in July 2007, to Carrefour). The company made solid progress in delivering its strategy under the leadership of John Rishton, appointed CEO in November 2007, who had been part of the team that developed the strategy in his previous role as CFO. In November 2011, under the leadership of Dick Boer , appointed CEO in March 2011, Ahold announced a new phase of its growth strategy, "Reshaping Retail". This strategy has six pillars - three designed to create growth and three to enable this growth. The six pillars are: increasing customer loyalty, broadening our offering, expanding geographic reach, simplicity, responsible retailing, and our people. On 24 June 2015, Delhaize Group reached an agreement with Ahold to merge, forming
8925-418: The consumer's store choice and addresses the consumer's expectations. At its most basic level, a retail format is a simple marketplace , that is; a location where goods and services are exchanged. In some parts of the world, the retail sector is still dominated by small family-run stores, but large retail chains are increasingly dominating the sector, because they can exert considerable buying power and pass on
9044-550: The crisis, Ahold launched a "Road to Recovery" strategy in late 2003 to restore its financial health, regain credibility, and strengthen its business. As part of this strategy, Ahold announced it would divest all operations in markets where it could not achieve a sustainable number one or two position within three to five years, and that could not meet defined profitability and return criteria over time. The company divested all its operations in South America and Asia, retaining
9163-425: The current competitive retail market, and are also the future of retail enterprises. Presentation refers to the physical evidence that signals the retail image. Physical evidence may include a diverse range of elements – the store itself including premises, offices, exterior facade and interior layout, websites, delivery vans, warehouses, staff uniforms. The environment in which the retail service encounter occurs
9282-453: The customer experience, such as Add-on, Upsell or Cross-sell; Selling on value; and knowing when to close the sale. Transactional marketing aims to find target consumers, then negotiate, trade, and finally end relationships to complete the transaction. In this one-time transaction process, both parties aim to maximize their own interests. As a result, transactional marketing raises follow-up problems such as poor after-sales service quality and
9401-586: The earlier month. For the first 10 months of 2022, retail sales increased by 15.5% by measuring the exact time of 2021. Among its bordering countries, on retail trade percentage of GDP, Armenia ranks more increased than Turkey, but it is still lower than Georgia. Tops Friendly Markets Tops Friendly Markets is an American supermarket chain based in Amherst, New York , that operates stores in Upstate New York , Vermont , and Northern Pennsylvania . The chain operates full-scale supermarkets. Tops
9520-426: The earliest investigations into shopper motivations and identified two broad motives: utilitarian and hedonic. Utilitarian motivations are task-related and rational. For the shopper with utilitarian motives, purchasing is a work-related task that is to be accomplished in the most efficient and expedient manner. On the other hand, hedonic motives refer to pleasure. The shopper with hedonic motivations views shopping as
9639-481: The early department stores were more than just a retail emporium; rather they were venues where shoppers could spend their leisure time and be entertained. Retail, using mail order, came of age during the mid-19th century. Although catalogue sales had been used since the 15th century, this method of retailing was confined to a few industries such as the sale of books and seeds. However, improvements in transport and postal services led several entrepreneurs on either side of
9758-613: The end of the twentieth century, stores were using labels such as "mega-stores" and "warehouse" stores to reflect their growing size. The upward trend of increasing retail space was not consistent across nations and led in the early 21st century to a 2-fold difference in square footage per capita between the United States and Europe. As the 21st century takes shape, some indications suggest that large retail stores have come under increasing pressure from online sales models and that reductions in store size are evident. Under such competition and other issues such as business debt, there has been
9877-400: The environment, thereby enhancing opportunities for purchasing. The first of these malls opened at Northland Mall near Detroit in 1954. Throughout the twentieth century, a trend towards larger store footprints became discernible. The average size of a U.S. supermarket grew from 31,000 square feet (2,900 m ) square feet in 1991 to 44,000 square feet (4,100 m ) square feet in 2000. By
9996-506: The first Albert Heijn grocery store in Oostzaan, Netherlands. The grocery chain expanded through the first half of the 20th century, and went public in 1948. Under the leadership of the founder's grandsons, Albert Jr. and Gerrit Jan Heijn, the company continued to make a significant impact on food retail in the Netherlands in the next four decades, pioneering self-service shopping, and the development of private labels and of non-food as
10115-600: The first CarryOut Café. It was also the year that Tops won the first of eight Golden Penguin Award from the National Frozen Food Association. In 1985, Castellani was named chairman of the board and Nanula succeeded him as CEO. The following spring, SB Investors became known as Tops Friendly Markets, Inc., as the company went public for the second time, this time on NASDAQ . The following year, as Tops Friendly Markets celebrated its 25th anniversary,
10234-404: The front of the store, which is known as the decompression zone . In order to maximize the number of selling opportunities, retailers generally want customers to spend more time in a retail store. However, this must be balanced against customer expectations surrounding convenience, access and realistic waiting times. The way that brands are displayed is also part of the overall retail design. Where
10353-438: The idea of retail is often associated with the purchase of goods, the term may be applied to service providers that sell to consumers. Retail service providers include retail banking, tourism, insurance, private healthcare, private education, private security firms, legal firms, publishers, public transport, and others. For example, a tourism provider might have a retail division that books travel and accommodation for consumers plus
10472-448: The importance of added value, customer satisfaction and highlights how the store's market positioning appeals to targeted groups of customers. A retail mix is devised for the purpose of coordinating day-to-day tactical decisions. The retail marketing mix typically consists of six broad decision layers including product decisions, place decisions, promotion, price, personnel and presentation (also known as physical evidence). The retail mix
10591-466: The largest retail market in the world in 2016. In 2016, China became the largest retail market in the world. In the Republic of Armenia, retail trade has been increasing recently. In October 2022, it increased by 23.1% year by year, which was the most considerable rise since April 2021, faster than the 20.7 per cent increase recorded a month earlier. Retail dropped by 1.9% after accumulating 2.1%in
10710-552: The latter countries, this fraction is an increase over 1970, but there are other countries where the sector has declined since 1970, sometimes in absolute terms, where other sectors have replaced its role in the economy. In the United States the sector has declined from 19% of GDP to 14%, though it has risen in absolute terms from $ 4,500 to $ 7,400 per capita per year. In China the sector has grown from 7.3% to 11.5%, and in India even more, from 8.4% to 18.7%. Emarketer predicts China will have
10829-469: The latter half of the 1990s in Latin America, Central Europe, and Asia. Ahold N.V. received the designation "Royal" from Dutch Queen Beatrix in 1987, awarded to companies that have operated honorably for one hundred years. That same year Gerrit Jan Heijn , Ahold executive and only brother of Albert Heijn, was kidnapped for ransom and murdered. The company's ambitious global expansion was halted by
10948-429: The market will grow at a compound annual growth rate (CAGR) of 6.7% from 2019 to 2023. In 2023 Kogan Page published a critically acclaimed book " Leading Travel and Tourism Retail ", which researched in depth the travel retail sector post COVID . Among retailers and retails chains a lot of consolidation has appeared over the last couple of decades. Between 1988 and 2010, worldwide 40,788 mergers and acquisitions with
11067-586: The marketplace. Martin's Food Markets is a brand owned by Tops Friendly Markets' then-parent company, Ahold , via their subsidiary Giant-Carlisle . The stores were designed in a colorful manner in order to attract both new and old customers. The format worked well for the company, which prompted them to remodel another location in the Buffalo suburb of Amherst into the Martin's Super Food Store format, and then later three other stores in Dunkirk-Fredonia , Derby , and Batavia . As of April 16, 2006,
11186-542: The merger was completed. The stores will now be owned and overseen by Northeast Grocery , with current President and CEO of Price Chopper/Market 32 managing the merger & Tops Friendly Markets CEO Frank Curci taking over in February 2022. The FTC required the combined company to divest from 12 of the combined companies’ stores. On April 29, 2024, Tops Markets announced the acquisition of five locations that were operated by Supermarket Management, Inc. The franchise partner had operated Tops locations for more than 60 years. As
11305-596: The mid-1980s. Sproles and Kendall's consumer typology has been shown to be relatively consistent across time and across cultures. Their typology is based on the consumer's approach to making purchase decisions. Some researchers have adapted Sproles and Kendall's methodology for use in specific countries or cultural groups. Consumer decision styles are important for retailers and marketers because they describe behaviours that are relatively stable over time and for this reason, they are useful for market segmentation. Retail formats (also known as retail formulas ) influence
11424-444: The mid-to-late 1950s, the company's operations expanded to include building construction principally devoted to supermarkets. During this time, Savino Nanula, a meat department manager, became an integral part of the company's management team. By 1958, they had set up headquarters in Buffalo, and in 1962 opened their first modern supermarket: a 25,000 sq ft (2,300 m ) store on Portage Road in Niagara Falls. Alfonse DiMino,
11543-476: The most important factor for consumers, when deciding to buy a product. Because patronage at a retail outlet varies, flexibility in scheduling is desirable. Employee scheduling software is sold, which, using known patterns of customer patronage, more or less reliably predicts the need for staffing for various functions at times of the year, day of the month or week, and time of day. Usually needs vary widely. Conforming staff utilization to staffing needs requires
11662-448: The needs of the working poor. John Stuart Mill wrote about the rise of the co-operative retail store, which he witnessed first-hand in the mid-19th century. The modern era of retailing is defined as the period from the industrial revolution to the 21st century. In major cities, the department store emerged in the mid- to late 19th century, and permanently reshaped shopping habits, and redefined concepts of service and luxury. Many of
11781-836: The new owner of Tops Markets. Ahold 's subsidiary Giant Food of Carlisle provided operational and support services for up to one year after the sale. Max Henderson, Executive Vice President of Tops, resigned his position from the company, and Frank Curci, a former Tops Friendly Markets CEO, returned as CEO of the company. Tops Friendly Markets brought back approximately 100 corporate positions in marketing, merchandising and finance to Buffalo, New York. Recently, those positions had been based in Carlisle, Pennsylvania by Giant Food . Existing stores resumed upgrades and remodeling, and plans for new stores continue. Tim Hortons full-service restaurants or self-serve kiosks as well as Anchor Bar wings were added to all stores. A growth rate of more than 10%
11900-478: The optimal product assortment, customer service , supporting services, and the store's overall market positioning. Once the strategic retail plan is in place, retailers devise the retail mix which includes product, price, place, promotion, personnel, and presentation. The word retail comes from the Old French verb retaillier , meaning "to shape by cutting" ( c. 1365 ). It was first recorded as
12019-484: The process from transaction to relationship. While expanding the sales market and attracting new customers is very important for the retail industry, it is also important to establish and maintain long term good relationships with previous customers, hence the name of the underlying concept, "relational marketing". Under this concept, retail enterprises value and attempt to improve relationships with customers, as customer relationships are conducive to maintaining stability in
12138-429: The product and service mix will optimize customer satisfaction. As part of the strategic planning process, it is customary for strategic planners to carry out a detailed environmental scan which seeks to identify trends and opportunities in the competitive environment, market environment, economic environment and statutory-political environment. The retail strategy is normally devised or reviewed every three to five years by
12257-510: The region. Also during this time, Tops Friendly Markets opened its first Pennsylvania store in Bradford . In 1983, SB Investors, a private, New York-based investment group, purchased NFS. By this time, operations had grown to include 65 Tops stores, 50 Wilson Farms stores and 15 B-Kwik Food Stores, employing 7,000 associates. The next year, Tops Friendly Markets introduced Western New York shoppers to direct debit service, Instabank ATMs and
12376-453: The remaining 72 stores in the Tops chain, in New York and Pennsylvania, would be sold. Although they have been profitable, it is a strategic decision for Ahold to focus on other chains such as Giant and Stop & Shop . On November 7, 2006, it was reported that Price Chopper might buy the chain. It had previously bought six former locations. On May 25, 2007, well-known grocery industry consultant Burt P. Flickinger III announced that he
12495-567: The savings in the form of lower prices. Many of these large retail chains also produce their own private labels which compete alongside manufacturer brands. Considerable consolidation of retail stores has changed the retail landscape, transferring power away from wholesalers and into the hands of the large retail chains. In Britain and Europe, the retail sale of goods is designated as a service activity . The European Service Directive applies to all retail trade including periodic markets, street traders and peddlers. Retail stores may be classified by
12614-623: The shift to multi-channel retailing. To counter the disruption caused by online retail, many bricks and mortar retailers have entered the online retail space, by setting up online catalogue sales and e-commerce websites. However, many retailers have noticed that consumers behave differently when shopping online. For instance, in terms of choice of online platform , shoppers tend to choose the online site of their preferred retailer initially, but as they gain more experience in online shopping, they become less loyal and more likely to switch to other retail sites. Online stores are usually available 24 hours
12733-930: The stores' day-to-day operations were to be affected. According to the Securities and Exchange Commission, the reason for filing was due to Tops' $ 720 million debt. This opportunity was being used to restructure financially so it could grow and be more competitive. On August 30, 2018, Tops announced they would be closing ten underperforming locations by November, including two in Syracuse, one on West Genesee Street (NY 5) at Westvale Plaza, and another on South Salina Street (US 11) at Valley Plaza, two in Rochester, one on Lake Avenue and another on North Winton Road, and one each in Perinton, Lyons, Geneva, Fulton, Elmira (the South Main Street location) and Saranac Lake (at
12852-402: The type of product carried. Softline retailers sell goods that are consumed after a single-use , or have a limited life (typically under three years) in they are normally consumed. Soft goods include clothing , other fabrics , footwear , toiletries , cosmetics , medicines and stationery . Grocery stores , including supermarkets and hypermarkets , along with convenience stores carry
12971-406: The warehouse. Max Henderson, Executive Vice President and General Manager of Tops Markets, stated that he hoped repurchasing the warehouse would make Tops more attractive to a potential buyer. On October 11, 2007, Ahold announced the sale of Tops Friendly Markets, LLC to Morgan Stanley Private Equity in a transaction valued at $ 310 million. Morgan Stanley agreed to purchase 71 of the 72 stores in
13090-403: The way that consumers pay for goods and services. Retailing support services may also include the provision of credit, delivery services, advisory services, stylist services and a range of other supporting services. Retail workers are the employees of such stores. Most modern retailers typically make a variety of strategic level decisions including the type of store, the market to be served,
13209-922: Was announced that an additional five stores, including one in Ithaca, New York , would close. Five in Pennsylvania were sold to Giant Eagle . The Tops name was placed on remaining stores within the next year. In August 2010, Tops was ordered by the Federal Trade Commission to sell seven stores it had acquired from Penn Traffic due to anticompetitive concerns. However, Tops was able to retain some of these locations. The former P&C location in Sayre, Pennsylvania , closed in October 2017, while another former P&C location in Westvale, Syracuse closed in November 2018. On February 28, 2011 Tops opened
13328-530: Was confirmed as the high bidder of Penn Traffic and on January 25, 2010 a federal judge signed off on an agreement in US Bankruptcy Court for the sale of same. The purchase stretched the company's footprint from Pennsylvania to New Hampshire . The Penn Traffic deal was for 79 stores, but Tops closed four stores within two months, in addition to one in Ogdensburg, New York . In March 2010, it
13447-629: Was forced to backtrack. By 2005 the convenience stores had been sold to WFI Acquisition Inc. , which later sold the stores to convenience store operator powerhouse 7-Eleven , and Tops Friendly Markets was also looking to sell the 31 stores it had established in the Adirondack region. P&C Foods acquired 2, Price Chopper acquired six, Hannaford acquired three, and twelve returned to the Grand Union division of C&S Wholesale Grocers . On July 6, 2006, Ahold announced its decision to exit
13566-575: Was generated foremost by the discount stores and supermarket segments, and was driven by the skyrocketing prices of foodstuffs. This information is based on the latest PMR report entitled Grocery retail in Central Europe 2012 National accounts show a combined total of retail and wholesale trade, with hotels and restaurants. in 2012 the sector provides over a fifth of GDP in tourist-oriented island economies, as well as in other major countries such as Brazil, Pakistan, Russia, and Spain. In all four of
13685-553: Was in 2016 with more than 2,700 deals. In terms of added value 2007 set the record with the US$ 225 billion. Here is a list of the top ten largest deals (ranked by volume) in the Retail Industry: As of 2016, China was the largest retail market in the world. The National Retail Federation and Kantar annually rank the nation's top retailers according to sales. The National Retail Federation also separately ranks
13804-731: Was overstated. In addition, accounting irregularities were found at the company's Argentine subsidiary Disco , and it was determined that the financial results of certain joint ventures had been accounted for improperly. As a result of the announcements, the company's share price plunged by two-thirds, and its credit rating was reduced to BB+ by Standard & Poor's. The irregularities led to various investigations and criminal charges by both Dutch and U.S. law enforcement authorities against Ahold and several of its former executives. Dutch law enforcement authorities filed fraud charges against Ahold, which were settled in September 2004, when Ahold paid
13923-472: Was replaced with retail trade involving coinage. Selling and buying are thought to have emerged in Asia Minor (modern Turkey) in around the 7th-millennium BCE. In ancient Greece , markets operated within the agora , an open space where, on market days, goods were displayed on mats or temporary stalls. In ancient Rome , trade took place in the forum . The Roman forum was arguably the earliest example of
14042-750: Was sold on November 29, 2006. The store in Tallmadge, Ohio , was sold to local competitor Acme Fresh Market . On November 9 in a company press release, it was stated that all Tops stores in Northeast Ohio would close whether they have been sold or not. A store in Cleveland's Lee-Harvard Neighborhood and a store in Garfield Heights were converted to Dave's Markets , a small independently owned chain of grocery stores in Cleveland . In June,
14161-585: Was the largest in all the Americas . By the 17th century, permanent shops with more regular trading hours were beginning to supplant markets and fairs as the main retail outlet. Provincial shopkeepers were active in almost every English market town. As the number of shops grew, they underwent a transformation. The trappings of a modern shop, which had been entirely absent from the 16th- and early 17th-century store, gradually made way for store interiors and shopfronts that are more familiar to modern shoppers. Prior to
#769230