97-683: Frasers Group plc (formerly known as Sports Direct International plc ) is a British retail , sport and intellectual property group, named after its ownership of the department store chain House of Fraser . The company is best known for trading predominantly under the Sports Direct brand which operates both physical outlets and online. Other retailers owned by the company include Jack Wills , GAME , Flannels, USC , Evans Cycles , Matches Fashion , and bespoke tailors Gieves & Hawkes . The company owns numerous intellectual property, including
194-492: A "PR Stunt". Workers on zero-hours contracts are not included in the rise and neither are those already paid more than minimum wage (management/supervisors etc.) therefore the 19,000 staff above is actually substantially fewer. In August 2016, Sports Direct Int. admitted breaking the law and agreed to disburse unlawfully withheld wages totalling about £1m to the affected workers. As of March 2017, some Sports Direct workers were yet to receive backpay for their time worked, because of
291-433: 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
388-522: 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
485-649: A disagreement regarding how contracts changing between employment agencies should be handled. In November 2016, six MPs from the Business and Skills Committee visited Sports Direct, and reported that while there, Sports Direct attempted to place them under surveillance . In February 2017, it was reported that Sports Direct had failed to inform its workforce of a data breach of their personal information after an attacker gained access to its internal systems in September 2016. The Information Commissioner's Office stated it
582-566: 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
679-508: 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
776-440: 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
873-498: 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
970-412: 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
1067-486: A memo that the company will stop allowing its office staff to work from home on Fridays, as had been practice for the last few years. The reason behind this decision was that many workers did not take working from home seriously enough and were often non-contactable. In 2023, Frasers Group CEO Michael Murray announced the group would launch a flexible payment service called Frasers Plus. The service would allow customers to buy now, pay later and earn points for paying through
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#17327761368561164-512: 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
1261-453: 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
1358-624: A nominal sum. On 5 August 2019, Sports Direct International purchased Jack Wills out of administration for £12.7 million after winning a competition against Edinburgh Woollen Mill . On 24 August 2020, it was announced that Frasers Group would buy "certain" assets from DW Sports Fitness for £37m, but would not be using the firm's brand name. Also in August 2020, during the COVID-19 pandemic , Ashley threatened landlords with House of Fraser store closures. In December 2020, Debenhams announced it
1455-486: 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
1552-483: 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
1649-613: A possible flotation on the London Stock Exchange . The group debuted on the exchange on 27 February 2007. By December 2006, Sports Direct had built up a 29.4% stake in Blacks Leisure Group , the owner of Millets. In 2007 Ashley held talks with John Hargreaves, founder of Matalan on both taking a 25% stake in the troubled retail business and installing mezzanine floors in larger Matalan stores, on which SportsDirect.com outlets could be operated. In June 2007,
1746-706: 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
1843-435: 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
1940-403: A reported £5 million. In August 2005, Sports Direct took a £9 million stake and signed a lucrative long-term deal in with troubled brand Umbro , which was subsequently sold to Nike . In 2006, Sports Direct acquired Kangol for an estimated £12 million. In 2012, JJB Sports fell into administration and it was announced that Sports Direct International had purchased parts of
2037-403: A security check at the end of shifts. A union official suggested that these practices were illegal as they brought workers' earnings below the minimum wage . The company responded by saying there were unspecified inaccuracies in the reports. A representative from the charity ShareAction claimed that workers are "jeopardising their health" for fear of being dismissed while another shareholder said
SECTION 20
#17327761368562134-506: A stake of 21% in AO World . These holdings increased during the year. In December 2023, the Group acquired Matches Fashion, a luxury ecommerce fashion retailer, for £52 million from Apax Partners . On 7 March 2024, the Group said that Matches would go into administration after continually missing its business plan targets. In April 2024, it was announced Frasers Group had agreed to acquire
2231-448: 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
2328-432: 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
2425-412: 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
2522-455: 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
2619-480: A woman who gave birth in the facility's bathroom. In October 2015, the chief executive of Sports Direct, David Forsey, was charged with a criminal offence for consultation failures over USC staff who only had 15 minutes notice of redundancy . In December 2015, an investigation by The Guardian found that the company fines staff for late clocking on, does not award overtime for late clocking off, relies on zero hour contracts , and regularly makes staff wait unpaid for
2716-475: 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
2813-402: 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
2910-535: Is listed on the London Stock Exchange and it is a constituent of the FTSE 100 Index . The company was founded by Mike Ashley in 1982 as a single store in Maidenhead trading under the name of "Mike Ashley Sports". In late November 2006, a number of business newspapers reported that Ashley was looking at an IPO of Sports World International. He hired Merrill Lynch , who valued the group at up to £2.5bn ahead of
3007-417: 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
Frasers Group - Misplaced Pages Continue
3104-493: 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
3201-399: 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
3298-449: 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 a very ancient history, dating back to antiquity. Some of the earliest retailers were itinerant peddlers . Over
3395-640: The Dutch sports retailer, Twin Sport. In September 2024, Frasers Group made a takeover approach for luxury handbag maker Mulberry . The brand already held a 37% stake in the company However, the company confirmed that it would not make a bid for Mulberry in October, and then began making moves to install Mike Ashley as Director and CEO of Boohoo Group . Retail Retail is the sale of goods and services to consumers , in contrast to wholesaling , which
3492-489: 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
3589-521: 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
3686-606: 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
3783-482: 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
3880-456: 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
3977-624: The Dundonald warehouse had been emptied of all stock and the doors were finally closed. Remaining warehouse staff were sent home. In the two preceding months leases for many of USC's stores were transferred to Republic , and the USC trademark was transferred to another Sports Direct company. In October 2015 the chief executive of Sports Direct, David Forsey, was charged with a criminal offence for consultation failures over USC staff who only had 15 minutes notice of redundancy. On 16 January 2015 USC
Frasers Group - Misplaced Pages Continue
4074-483: The House of Fraser brand, and all of the stock in the business for £90 million in cash, converting all old House of Fraser stores into Sports Direct. Prior to the company entering administration, Sports Direct's Mike Ashley held an 11% stake in the company. On 30 October 2018, Evans Cycles was purchased by Sports Direct International in a pre-pack administration deal. In February 2019, the group acquired Sofa.com for
4171-467: 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
4268-406: 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
4365-509: The brand name and the company's head office from the administrator for an undisclosed sum. In July 2013, more than 2,000 full-time staff were awarded around £70,000 each under the company's bonus share scheme. On 13 January 2014, Sports Direct bought 4.6% of Debenhams shares. The stock market purchase of 56.8 million shares (worth around £46m) was made without the prior knowledge of the Debenhams board. Sports Direct International stated at
4462-610: The brands Everlast , Lonsdale , Slazenger and Karrimor . The group also expanded into operating fitness clubs, launching the Everlast Fitness Club chain in 2020. Established in 1982 by Mike Ashley , the company is the United Kingdom's largest sports-goods retailer. The company's business model is one that operates under low margins. Mike Ashley has continued to hold a majority stake in the business, and his holding has been 61.7 percent since October 2013. It
4559-440: 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
4656-771: The business, and Sports Direct International made £10 million, from selling the intellectual-property rights to the Slazenger Golf brand to arch-rival JJB in 2005. In 2016, Sumitomo Rubber Industries , a global tyre, sports goods, and industrial rubber products manufacturing company based in Kobe, Japan, filed for regulatory approval before the Philippine Competition Commission in connection with its planned acquisition of Dunlop-related wholesale, manufacturing, and licensing business from Sports Direct International. Sumitomo Rubber intended to acquire
4753-399: 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
4850-462: 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
4947-549: 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
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#17327761368565044-419: 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
5141-716: The company acquired Everlast for £84 million. By July 2008, Sports Direct was also holding a 12.3% holding in the John David Group, parent of JD Sports . The stake amounted to 11.9% of JD Sports in November 2013. Sports Direct formerly held 5% of Amer Sports . In 2012 Sports Direct International purchased rival retailer JJB's brand name, website, 20 stores and all of their stock in a deal for approximately £24m. The deal saved around 550 jobs. In February 2013, after fashion retailer Republic went into administration, Sports Direct International bought 116 Republic stores,
5238-544: The company's reputation as an employer was "atrocious". Late in December 2015, Sports Direct announced a 15 pence per hour increase for staff currently receiving less than minimum wage, taking them above minimum wage, the annual cost of this was said in the announcement to be ~£10 Million (GBP); however it was immediately noted that £0.15p × 37.5 hours × 19,000 staff × 52 weeks = 5,557,500 (~£5.5 million), this and other factors resulted in many (including Unite ) calling it
5335-418: 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
5432-425: 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
5529-453: 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
5626-475: 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. USC (clothing retailer) USC is a clothing retailer that sells branded clothing across the United Kingdom and Ireland. The company
5723-426: 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
5820-481: 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
5917-613: 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
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#17327761368566014-658: The entire issued share capital of Dunlop Brands Limited , Dunlop Slazenger 1902 Limited , and Dunlop Australia Limited , and the Dunlop-related business of Dunlop Sports Group Americas, Inc. which are subsidiaries of Sports Direct.The Philippine Competition Commission approved the regulatory filing for the said acquisition. The acquisition allowed Sumitomo Rubber to consolidate the Dunlop brand across various products including sports goods worldwide. In March 2004, Sports Direct acquired outdoor gear manufacturer Karrimor for
6111-400: 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
6208-404: 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
6305-545: The high court on Wednesday 7 January 2015. It was further reported in City A.M. that Duff & Phelps would act as the administrators. On the morning of Wednesday 7 January 2015, dozens of staff at the USC warehouse in Dundonald Ayrshire were given their notice of redundancy when trucks from Sports Direct arrived at the warehouse to take goods to Shirebrook , Nottingham. By the following Wednesday, 14 January 2015,
6402-438: 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
6499-448: 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
6596-466: 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
6693-552: 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
6790-429: 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
6887-755: 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
6984-596: 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
7081-476: 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
7178-448: 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
7275-484: 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
7372-429: 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
7469-430: 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, the optimal product assortment, customer service , supporting services, and the store's overall market positioning. Once
7566-415: The remaining 20% and now fully owns the business. USC's Head Office was moved to Shirebrook to merge in with its Sports Direct Head Office. Sports Direct purchased Republic out of administration in 2013 and merged the business with USC. On 8 January 2015, City A.M. reported that Mike Ashley was preparing to place USC into administration, after filing a notice of the intention to appoint receivers at
7663-554: The remaining international rights to its Dunlop brand to Sumitomo Rubber Industries for £112 million ($ 137.5 million). Sumitomo already own the rights to the brand in Japan, South Korea and Taiwan. The sale was due to be completed by May 2017. In July 2017, the company acquired a 26% stake in Game Digital . Between 2013 and 2014, ambulances were dispatched to Sports Direct HQ's facilities more than 80 times, including one concerning
7760-567: 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
7857-540: The service. The service is provided using technology developed by fintech startup Tymit. Frasers Plus is available in the United Kingdom and can be used in store and online at retailers such as House of Fraser , USC , Flannels , Jack Wills , Sports Direct and more. In February 2004, the company acquired Dunlop Slazenger for around £40 million, which included the Dunlop , Slazenger and Carlton brands. The brands themselves are an increasingly important part of
7954-623: 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
8051-498: The sports good retailers assets including 20 stores, the brand, and its website for £28.3 million. In July 2012, Sports Direct Int. purchased a 51% stake in retailer Flannels . In February 2013, Republic entered administration, and was purchased by Sports Direct International. Republic was merged into Sports Direct's USC brand. On 10 August 2018, the House of Fraser entered administration . Later that day, Sports Direct International agreed to buy all House of Fraser UK stores,
8148-584: 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 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,
8245-400: The time it intended to be a supportive share holder. The Debenhams board responded by stating they were open-minded with regard to exploring operational opportunities to improve its performance. Sports Direct International sold its shares on 16 January 2014, although they took out an option to buy further shares up to a total of 6.6%. In December 2016, Sports Direct International agreed to sell
8342-402: 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
8439-903: Was announced that the Jenners House of Fraser store in Edinburgh was closing for good and 200 jobs would be lost. In February, Frasers offloaded their 25% stake in French Connection . In April 2021, the group announced it had doubled the hit it expects to take from the coronavirus pandemic to £200 million. In February 2022, the group announced it had purchased some of the assets of the Studio Retail Group from administration . In May, Fraser's sold their stakes in Bob's Stores and Eastern Mountain Sports . On 1 June 2022, it
8536-520: Was aware of "an incident from 2016 involving Sports Direct" and would "be making enquiries." The company announced on 16 December 2019 that it would change its name from Sports Direct International plc to Frasers Group plc effective from 17 December 2019. It was announced in September 2021 that Michael Murray was to be the incoming CEO of Frasers Group, taking over Ashley's role, in May 2022. In July 2022, chief operating officer David Al-Mudallal announced in
8633-431: Was bought out of administration by another Sports Direct holding company, Republic Retail Limited. Although controversial as a pre-packed administration this move allowed the existing stores and remaining staff to continue to trade. Sports Direct received criticism by MPs for refusing to pay suppliers such as Diesel and laying off staff with only fifteen minutes notice. Prior to the administration USC had been trading at
8730-443: Was founded by Angus Morrison and David Douglas. USC was purchased for £43 million by Sir Tom Hunter in 2004. The company entered into administration on 29 December 2008, and 15 stores were closed. The remaining 43 stores were bought in a pre-packaged deal by Dundonald Holdings Ltd, also owned by Sir Tom Hunter. In July 2011, Tom Hunter sold 80% of USC to Mike Ashley's Sports Direct chain. In early 2012, Sports Direct bought
8827-520: Was founded in 1989 in Edinburgh and has been owned by the Frasers Group since 2011. As of November 2024, the company owns stores in the United Kingdom , Ireland , Spain , Portugal , Latvia , Lithuania , Luxembourg , Belgium and Czech Republic . The first USC store opened in 1989 in Edinburgh and specialised in sports clothing. USC originally stood for 'United Sports Corporation' and
8924-575: 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
9021-492: Was going into liquidation , putting 12,000 jobs in 124 UK stores at risk unless the administrators could find buyers for all or parts of the business. Frasers Group was reported to be in talks to acquire Debenhams, though it was later reported that Ashley was mainly interested in using empty Debenhams stores to expand his other chains, including House of Fraser, Sports Direct and Flannels; taking 'vacant possession' would avoid redundancy costs for existing staff. In January 2021, it
9118-553: 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
9215-472: 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
9312-684: Was revealed that the group had bought the intellectual property of Missguided and its sister brand Mennace for about £20 million, after they went into administration the previous day. In November 2022, it was announced Frasers Group had acquired one of London's oldest bespoke tailors, Gieves & Hawkes . In June 2023, it was announced that the Frasers Group had acquired a stake of 9% in ASOS , 9% in Currys and 5% in Boohoo.com . It had also acquired
9409-585: 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
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