Charles David Tandy (15 May 1918 – 4 November 1978) was the chairman of the board, president, and chief executive officer of the Tandy Corporation .
111-402: RadioShack (formerly written as Radio Shack ) is an American electronics retailer , which was established in 1921 as an amateur radio mail-order business. Its original parent company, Radio Shack Corporation, was purchased by Tandy Corporation in 1962, shifting its focus from radio equipment to hobbyist electronic components. At its peak in 1999, Tandy operated over 8,000 RadioShack stores in
222-499: A complete pre-assembled system at a time when many microcomputers were built from kits, backed by a nationwide retail chain when computer stores were in their infancy. Sales of the initial, primitive US$ 600 (equal to $ 3,017 today) TRS-80 exceeded all expectations despite its limited capabilities and high price. This was followed by the TRS-80 Color Computer in 1980, designed to attach to a television. Tandy also inspired
333-433: 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
444-522: 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
555-566: 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
666-508: 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
777-440: 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
888-607: A former Tandy subsidiary, sold the Tandy UK stores in 1999 and the Australian stores in 2001. InterTAN was sold (with its Canadian stores) to rival Circuit City in 2004. The RadioShack brand remained in use in the United States , but the 21st century proved a period of long decline for the chain, which was slow to respond to key trends— such as e-commerce , the entry of competitors like Best Buy and Amazon.com , and
999-498: 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
1110-548: A lack of economies of scale led Radio Shack to exit the computer-manufacturing market in the 1990s after losing much of the desktop PC market to newer, price-competitive rivals like Dell . Tandy acquired the Computer City chain in 1991, and sold the stores to CompUSA in 1998. In 1994, RadioShack began selling IBM 's Aptiva line of home computers. This partnership would last until 1998, when RadioShack partnered with Compaq and created 'The Creative Learning Center' as
1221-412: 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
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#17327902167441332-440: A minority. In mid-December 2008, RadioShack opened three concept stores under the name "PointMobl" to sell wireless phones and service, netbooks , iPod and GPS navigation devices . The three Texas stores ( Dallas , Highland Village and Allen ) were furnished with white fixtures like those in the remodelled wireless departments of individual RadioShack stores, but there was no communicated relationship to RadioShack itself. Had
1443-512: 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
1554-453: 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
1665-486: 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
1776-985: 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
1887-483: 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
1998-706: 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
2109-662: A profit. Its six profitable stores were sold to Fry's Electronics in 1996; the others were closed. Other rebranding attempts included the launch or acquisition of chains including McDuff, Video Concepts and the Edge in Electronics; these were larger stores which carried TVs, appliances and other lines. Tandy closed the McDuff stores and abandoned Incredible Universe in 1996, but continued to add new RadioShack stores. By 1996, industrial parts suppliers were deploying e-commerce to sell
2220-435: 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
2331-468: A store-within-a-store to promote desktop PCs. Similar promotions were tried with 'The Sprint Store at RadioShack' (mobile telephones), ' RCA Digital Entertainment Center' (home audio and video products), and 'PowerZone' (RadioShack's line of battery products, power supplies, and surge protectors). In the mid-1990s, the company attempted to move out of small components and into more mainstream consumer markets, focusing on marketing wireless phones. This placed
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#17327902167442442-448: 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
2553-746: A struggle over the company, which saw the Hinckley name dropped, the company was renamed to Tandy Corporation . In 1963, Tandy acquired the ailing RadioShack , a chain of nine retail stores in the Boston area; the chain grew to more than 400 across the country. Tandy said “We’re not looking for the guy who wants to spend his entire paycheck on a sound system”, rather RadioShack sought customers "looking to save money by buying cheaper goods and improving them through modifications and accessorizing", making it common among "nerds" and "kids aiming to excel at their science fairs". In Tandy's last years his major project
2664-602: A system of craft work for hospitalized service personnel. Its success led him, on leaving the Navy, to set up a mail order business, Tandycraft , that became a major part of his father's business. Tandy developed his small family leather business into an international corporation. He first turned it into a leather craft company when shoe rationing in World War II almost killed the business, and later expanded into selling leather and tools to make such products as wallets. After
2775-432: 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
2886-412: 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
2997-478: 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
3108-455: 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
3219-577: A wide range of components online; it would be another decade before RadioShack would sell parts from its website, with a selection so limited that it was no rival to established industrial vendors with million-item specialised, centralised inventories. In 1994, the company introduced a service known as "The Repair Shop at Radio Shack", through which it provided inexpensive out-of-warranty repairs for more than 45 different brands of electronic equipment. The company already had over one million parts in its extensive parts warehouses and 128 service centers throughout
3330-475: 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
3441-402: 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
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3552-417: 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
3663-493: 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
3774-399: 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
3885-426: 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
3996-478: The Memorex consumer recording trademarks to a Hong Kong firm, and divested most of its manufacturing divisions. House-brand products, which Radio Shack had long marked up heavily, were replaced with third-party brands already readily available from competitors. This reduced profit margins. In 1992, Tandy attempted to launch big-box electronics retailer Incredible Universe ; most of the seventeen stores never turned
4107-489: 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
4218-621: The Tandy Computer Whiz Kids (1982–1991), a comic-book duo of teen calculator enthusiasts who teamed up with the likes of Archie and Superman. Radio Shack's computer stores offered lessons to pre-teens as "Radio Shack Computer Camp" in the early 1980s. By September 1982, the company had more than 4,300 stores, and more than 2,000 independent franchises in towns not large enough for a company-owned store. The latter also sold third-party hardware and software for Tandy computers, but company-owned stores did not sell or even acknowledge
4329-764: The breakup of the Bell System encouraged subscribers to own their own telephones instead of renting them from local phone companies; Radio Shack offered twenty models of home phones. Much of the Radio Shack line was manufactured in the company's own factories. By 1990/1991, Tandy was the world's biggest manufacturer of personal computers; its OEM manufacturing capacity was building hardware for Digital Equipment Corporation, GRiD, Olivetti, AST Computer, Panasonic, and others. The company manufactured everything from store fixtures to computer software to wire and cable, TV antennas, audio and videotape. At one point, Radio Shack
4440-615: The "Verizon Wireless Store" within a store. 2005 under the leadership of Jim Hamilton, marked a banner year for wireless. RadioShack sold more mobile phones than Walmart, Circuit City and Best Buy combined. RadioShack had not made products under the Realistic name since the early 1990s. Support for many of Radio Shack's traditional product lines, including amateur radio, had ended by 2006. A handful of small-town franchise dealers used their ability to carry non-RadioShack merchandise to bring in parts from outside sources, but these represented
4551-521: 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
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4662-606: 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
4773-482: 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
4884-456: 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
4995-573: The Flavoradio was dropped from the catalog in 2001, it was the last AM-only radio on the market. The chain profited from the mass popularity of citizens band radio in the mid-1970s which, at its peak, represented nearly 30% of the chain's revenue. In 1977, two years after the MITS Altair 8800 , Radio Shack introduced the TRS-80 , one of the first mass-produced personal computers . This was
5106-478: The US and Canada; it hoped to leverage these to build customer relationships and increase store traffic. Len Roberts, president of the Radio Shack division since 1993, estimated that the new repair business could generate $ 500 million per year by 1999. "America's technology store" was abandoned for the "you've got questions, we've got answers" slogan in 1994. In early summer 1995, the company changed its logo; "Radio Shack"
5217-714: The United States, Mexico, and Canada, and under the Tandy name in The Netherlands, Belgium, Germany, France, the United Kingdom, and Australia. The 21st century proved to be a period of long decline. In February 2015, after years of management crises, poor worker relations, diminished revenue, and 11 consecutive quarterly losses, RadioShack was delisted from the New York Stock Exchange and subsequently filed for Chapter 11 bankruptcy . In May 2015,
5328-467: 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
5439-406: 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
5550-403: The brand name to Realistic after being sued by Stereo Realist . During the period the chain was based in Boston, it was commonly referred to disparagingly by its customers as "Nagasaki Hardware", as much of the merchandise was sourced from Japan, then perceived as a source of low-quality, inexpensive parts. In 1959, the store moved its headquarters to 730 Commonwealth Avenue in Boston (across
5661-440: 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
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#17327902167445772-399: 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
5883-481: The chain, long accustomed to charging wide margins on specialized products not readily available from other local retailers, into direct competition against vendors such as Best Buy and Walmart . In May 2000, the company dropped the Tandy name altogether, becoming RadioShack Corporation. The leather operating assets were sold to The Leather Factory on November 30, 2000; that business remains profitable. House brands Realistic and Optimus were discontinued. In 1999,
5994-549: 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
6105-419: 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
6216-644: The company agreed to carry RCA products in a five-year agreement for a "RCA Digital Entertainment Center" store-within-a-store. When the RCA contract ended, RadioShack introduced its own Presidian and Accurian brands, reviving the Optimus brand in 2005 for some low-end products. Enercell , a house brand for dry cell batteries, remained in use until approximately 2014. Most of the RadioShack house brands had been dropped when Tandy divested its manufacturing facilities in
6327-507: The company in 1962 for US$ 300,000. At the time of the Tandy Radio Shack & Leather 1962 acquisition, the Radio Shack chain was nearly bankrupt. Tandy's strategy was to appeal to hobbyists. It created small stores that were staffed by people who knew electronics, and sold mainly private brands. Tandy closed Radio Shack's unprofitable mail-order business, ended credit purchases and eliminated many top management positions, keeping
6438-495: The company sold off the few remaining Allied retail stores and resumed using the Radio Shack name. Allied Electronics , the firm's industrial component operation, continued as a Tandy division until it was sold to Spartan Manufacturing in 1981. The longest-running product for Radio Shack was the AM-only Realistic Flavoradio, sold from 1972 to 2000, 28 years in three designs. This also made the Flavoradio
6549-498: The company's assets, including the RadioShack brand name and related intellectual property , were purchased by General Wireless, a subsidiary of Standard General , for US$ 26.2 million. In March 2017, General Wireless and subsidiaries filed for bankruptcy, claiming that a store-within-a-store partnership with Sprint was not as profitable as expected. As a result, RadioShack shuttered several company-owned stores and announced plans to shift its business primarily online. RadioShack
6660-418: 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
6771-425: 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
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#17327902167446882-453: 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
6993-584: 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. Charles D. Tandy Charles Tandy was born in Brownsville, Texas to Dave L. Tandy, who ran the Hinckley-Tandy Leather Company with his friend Norton Hinckley. He
7104-426: 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
7215-701: The early 1990s; the original list included: Realistic (stereo, hi-fi and radio), Archer (antenna rotors and boosters), Micronta (test equipment), Tandy (computers), TRS-80 (proprietary computer), ScienceFair (kits), DuoFone (landline telephony), Concertmate (music synthesizer), Enercell (cells and batteries), Road Patrol (radar detectors, bicycle radios), Patrolman (Realistic radio scanner ), Deskmate (software), KitchenMate , Stereo Shack , Supertape (recording tape), Mach One , Optimus (speakers and turntables), Flavoradio (pocket AM radios in various colours), Weatheradio , Portavision (small televisions) and Minimus (speakers). In 2000, RadioShack
7326-481: 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
7437-613: 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
7548-400: 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
7659-402: The existence of non-Tandy products. In the mid-1980s, Radio Shack began a transition from its proprietary 8-bit computers to its proprietary IBM PC compatible Tandy computers , removing the "Radio Shack" name from the product in an attempt to shake off the long-running nicknames "Radio Scrap" and "Trash 80" to make the product appeal to business users. Poor compatibility, shrinking margins and
7770-578: The expense of its core components business. RadioShack aggressively promoted Dish Network subscriptions. In November 2012, RadioShack introduced Amazon Locker parcel pick-up services at its stores, only to dump the program in September 2013. In 2013, the chain made token attempts to regain the do it yourself market, including a new "Do It Together" slogan. Long-time staff observed a slow and gradual shift away from electronic parts and customer service and toward promotion of wireless sales and add-ons;
7881-423: The former RadioShack mail-order business determined where Tandy would locate new stores. As an incentive for them to work long hours and remain profitable, store managers were required to take an ownership stake in their stores. In markets too small to support a company-owned Radio Shack store, the chain relied on independent dealers who carried the products as a sideline. Charles D. Tandy said "We’re not looking for
7992-401: The free vacuum tube testing offered in-store in the early 1970s, this small loss leader drew foot traffic . The cards also served as generic business cards for the salespeople. In 1970, Tandy Corporation bought Allied Radio Corporation (both retail and industrial divisions), merging the brands into Allied Radio Shack and closing duplicate locations. After a 1973 federal government review,
8103-404: 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
8214-479: The growth of the maker movement . By 2011, smartphone sales, rather than general electronics, accounted for half of the chain's revenue. The traditional RadioShack clientele of do-it-yourself tinkerers were increasingly sidelined. Electronic parts formerly stocked in stores were now mostly only available through on-line special order. Store employees concentrated efforts selling profitable mobile contracts, while other customers seeking assistance were neglected and left
8325-497: The guy who wants to spend his entire paycheck on a sound system", instead seeking customers "looking to save money by buying cheaper goods and improving them through modifications and accessorizing", making it common among "nerds" and "kids aiming to excel at their science fairs". Charles D. Tandy , who had guided the firm through a period of growth in the 1960s and 1970s, died of a heart attack at age 60 in November 1978. In 1982,
8436-438: 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
8547-448: 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
8658-466: 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
8769-552: 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
8880-451: The longest production run in radio history. It was originally released in five colors in the 1972 catalog: vanilla, chocolate, strawberry, avocado, and plum. For 1973, vanilla and chocolate were dropped (and thus are rare today) and replaced by lemon and orange. At some point two-tone models with white backs were offered but never appeared in catalogs; these are extremely rare today. The original design had five transistors (model 166). A sixth
8991-429: 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
9102-596: 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
9213-476: 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
9324-406: The name and address of purchasers so they could be added to mailing lists. Name and mailing address were requested for special orders (RadioShack Unlimited parts and accessories, Direc2U items not stocked locally), returns, check payments, RadioShack Answers Plus credit card applications, service plan purchases and carrier activations of cellular telephones. On December 20, 2005, RadioShack announced
9435-479: The name came from an employee, Bill Halligan, who went on to form the Hallicrafters company. The term was already in use — and is to this day — by hams when referring to the location of their stations. The company issued its first catalog in 1939 as it entered the high-fidelity music market. In 1954, Radio Shack began selling its own private-label products under the brand name Realist, changing
9546-448: 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
9657-484: The new field of amateur radio (also known as ham radio ). The brothers opened a one-store retail and mail-order operation in the heart of downtown Boston at 46 Brattle Street . They chose the name " Radio Shack ", which was the term for a small, wooden structure that housed a ship's radio equipment. The Deutschmanns thought the name was appropriate for a store that would supply the needs of radio officers aboard ships, as well as hams (amateur radio operators). The idea for
9768-478: 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
9879-410: The pressure to sell gradually increased, while the focus on training and product knowledge decreased. Morale was abysmal; longtime employees who were paid bonus and retirement in stock options saw the value of these instruments fade away. In 1998, RadioShack called itself the single largest seller of consumer telecommunications products in the world; its stock reached its peak a year later. InterTAN ,
9990-484: 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
10101-429: 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
10212-662: The sale of its newly built riverfront Fort Worth, Texas headquarters building to German-based KanAm Grund; the property was leased back to RadioShack for 20 years. In 2008, RadioShack assigned this lease to the Tarrant County College District (TCC), remaining in 400,000 square feet (37,000 m) of the space as its headquarters. In 2005, RadioShack parted with Verizon for a 10-year agreement with Cingular (later AT&T) and renegotiated its 11-year agreement with Sprint. In July 2011, RadioShack ended its wireless partnership with T-Mobile , replacing it with
10323-594: The salespeople, merchandisers and advertisers. The number of items carried was cut from 40,000 to 2,500, as Tandy sought to "identify the 20% that represents 80% of the sales" and replace Radio Shack's handful of large stores with many "little holes in the wall", large numbers of rented locations which were easier to close and re-open elsewhere if one location didn't work out. Private-label brands from lower-cost manufacturers displaced name brands to raise Radio Shack profit margins; non-electronic lines from go-carts to musical instruments were abandoned entirely. Customer data from
10434-567: 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
10545-623: 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
10656-522: The stores in frustration. Demand for consumer electronics was also increasingly being weakened by consumers buying the items online . In early 2004, RadioShack introduced Fix 1500 , a sweeping program to "correct" inventory and profitability issues company-wide. The program put the 1,500 lowest-graded store managers, of over 5,000, on notice of the need to improve. Managers were graded not on tangible store and personnel data but on one-on-one interviews with district management. Retailer Retail
10767-443: The street from Boston University's Marsh Chapel ), with ambitious plans for further expansion. After expanding to nine stores plus an extensive mail-order business, the company fell on hard times in the early 1960s. Tandy Corporation, a leather goods corporation, was looking for other hobbyist-related businesses into which it could expand. Charles D. Tandy saw the potential of Radio Shack and retail consumer electronics, purchasing
10878-530: The test proved successful, RadioShack could have moved to convert existing RadioShack locations into PointMobl stores in certain markets. While some PointMobl products, such as car power adapters and phone cases, were carried as store-brand products in RadioShack stores, the stand-alone PointMobl stores were closed and the concept abandoned in March 2011. In August 2009, RadioShack rebranded itself as "The Shack". The campaign increased sales of mobile products, but at
10989-402: 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
11100-403: 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,
11211-701: The worldwide RadioShack franchise. Unicomer is based in El Salvador and is one of the largest franchisors of RadioShack, with stores in Central America, South America, and the Caribbean. It had purchased its first RadioShack franchise (in El Salvador) in January 1998. The company was started as Radio Shack in 1921 by two brothers, Theodore and Milton Deutschmann, who wanted to provide equipment for
11322-472: Was acquired by Retail Ecommerce Ventures, a holding company owned by Alex Mehr and self-help influencer Tai Lopez, in November 2020. RadioShack operated primarily as an e-commerce website with a network of independently owned and franchised RadioShack stores, as well as a supplier of parts for HobbyTown USA . On March 2, 2023, Retail Ecommerce Ventures announced that it was mulling a possible bankruptcy filing. In May 2023, Unicomer Group acquired control of
11433-525: Was added in 1980 (model 166a). The case was redesigned for 1987, making it taller and thinner, and it came in red, blue, and black. The final model, 201a, came in 1996 and was designed around an integrated circuit. They were first made in Korea then Hong Kong and finally the Philippines. The Flavoradio carried the Realistic name until about 1996, when it switched to "Radio Shack", then finally "Optimus". When
11544-670: Was educated at the R. L. Paschal High School . Tandy entered his father's business at the age of 12. In 1940 he graduated from Texas Christian University . He then spent some time at the Harvard Business School before joining the US Navy for the remainder of World War II. While in the Navy he set a record for selling war bonds. While a supply officer in the Navy, he noticed sailors being taught knitting and needlepoint as part of recuperative therapy . Thinking that men would prefer leatherwork to needlework, he established
11655-575: 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
11766-553: 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
11877-462: Was one of multiple backers of the CueCat barcode reader, which soon turned out to be a marketing failure. The company had invested US$ 35 million in the concept, including printing the barcodes throughout its catalogs, and distributing CueCat devices to customers at no charge. The last annual RadioShack printed catalogs were distributed to the public in 2003. Until 2004, RadioShack routinely asked for
11988-472: 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
12099-593: Was spelled in camel case as "RadioShack". In 1996, RadioShack successfully petitioned the US Federal Communications Commission to allocate frequencies for the Family Radio Service , a short-range walkie-talkie system that proved popular. From the 1960s until the early 1990s, Radio Shack promoted a "battery of the month" club; a free wallet -sized cardboard card offered one free Enercell per month in-store. Like
12210-585: 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
12321-422: Was the world's largest electronics chain. In June 1991, Tandy closed or restructured its 200 Radio Shack Computer Centers, acquired Computer City , and attempted to shift its emphasis away from components and cables, toward mainstream consumer electronics. Tandy sold its computer manufacturing to AST Research in 1993, including the laptop computer Grid Systems Corporation which it had purchased in 1988. It sold
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