Theory question 103
Retail TradeCommerce 2 (essay)
(a) What is mail order business?
(b) List and explain six trends in retailing.
Show the model answer
Model answer
(a) Mail order business is retailing in which customers choose goods from catalogues or adverts, order by post, phone or internet, and the goods are sent to them by post or courier.
(b) Any six, explained: self-service; growth of supermarkets and hypermarkets; branding and pre-packaging; online/e-commerce shopping; electronic payment (cards, POS); automatic vending; after-sales services; credit facilities; trading stamps/loyalty schemes; luncheon/gift vouchers; mobile shops; chain stores/franchising; shopping malls.
Explanation
Trends are modern developments in how retailers sell.