Retail shop in the context of "Services marketing"

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⭐ Core Definition: Retail shop

The retail format (also known as the retail formula) influences 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 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.

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Retail shop in the context of Brick and mortar

Brick and mortar (more commonly Bricks and mortar in British English, sometimes B&M in American English) is an organization or business with a physical presence in a building or other structure. The term brick-and-mortar business is often used to refer to a company that possesses or leases retail shops, factory production facilities, or warehouses for its operations. More specifically, in the jargon of e-commerce businesses in the 2000s, brick-and-mortar businesses have a physical presence (e.g., a retail shop in a building) and offer face-to-face customer experiences.

This term is usually used to contrast with a transitory business or an Internet-only presence, such as fully online shops, which have no physical presence for shoppers to visit, talk with staff in person, touch and handle products, or buy from the firm in person. However, such online businesses normally have non-public physical facilities from which they either run business operations (e.g., the company headquarters and back office facilities), and/or warehouses for storing and distributing products.

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Retail shop in the context of Taberna

A taberna (pl.: tabernae) was a type of shop or stall in Ancient Rome. Originally meaning a single-room shop for the sale of goods and services, tabernae were often incorporated into domestic dwellings on the ground level flanking the fauces, the main entrance to a home, but with one side open to the street. As the Roman Empire became more prosperous, tabernae were established within great indoor markets and were often covered by a barrel vault. Each taberna within a market had a window above it to let light into a wooden attic for storage and had a wide doorway. A famous example of such an indoor market is the Markets of Trajan in Rome, built in the early 2nd century by Apollodorus of Damascus.

According to the Cambridge Ancient History, a taberna was a "retail unit" within the Roman Empire and was where many economic activities and many service industries were provided, including the sale of cooked food, wine, and bread.

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Retail shop in the context of TUI Group

TUI AG (trading as TUI Group) is a German multinational leisure, travel and tourism company; it is the largest such company in the world. TUI is an acronym for Touristik Union International ("Tourism Union International"). TUI AG was known as Preussag AG until 1997, when the company changed its activities from mining to tourism. It is headquartered in Hanover, Germany, and trading on the Frankfurt Stock Exchange and Hanover Stock Exchange.

It fully or partially owns several travel agencies, hotel chains, cruise lines and retail shops as well as five European airlines. These activities involve the operation of 353 hotels with 275,144 beds and it allows its brand to be used for another 65 hotels operated by third parties. These hotels accommodate 21 million guests a year. It also operates 16 cruise ships under the TUI Cruises, Hapag-Lloyd Cruises and Marella Cruises brands, as well as a fleet of 134 aircraft.

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