Retail business ideas

Many retail business ideas have come up in recent years with invention of new products. Done correctly, retail business is both exciting and very lucrative.

Retail business can be categorised into six major categories.

  1. Offline retail store/Store retailing.
    This involves the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mall, in small or individual lots for direct consumption by the purchaser.
  2. online retail/ online store.
    This is a form virtual store whereby consumers directly buy goods or services from a seller over the Internet.
  3. Specialty retail.
    Specialty stores are small stores which specialize in a specific range of merchandise and related items. Most stores have an extensive depth of stock in the item that they specialize in and provide high levels of service and expertise. The pricing policy is generally in the medium to high range, depending on factors like the type and exclusivity of merchandise and ownership, that is, whether they are owner operated or a chain operation which has the advantage of bulk purchasing and centralized warehousing system. They differ from department stores and supermarkets which carry a wide range of merchandise.
  4. Non-store retail.
    Non-store retailing is the selling of goods and services outside the confines of a retail facility. It is a generic term describing retailing taking place outside of shops and stores.
  5. Mail order retail.
    Mail order is a term which describes the buying of goods or services by mail delivery. The buyer places an order for the desired products with the merchant through some remote method such as through a telephone call or web site. Then, the products are delivered to the customer. The products are typically delivered directly to an address supplied by the customer, such as a home address, but occasionally the orders are delivered to a nearby retail location for the customer to pick up.
  6. Vending machines retail.
    A vending machine is a machine which dispenses items such as snacks, beverages, alcohol, cigarettes, lottery tickets, consumer products and even gold and gems to customers automatically, after the customer inserts currency or credit into the machine.

Now after looking on the above six categories, it is upon you to decide which are the best retail business ideas for you, depending on your location, capital and experience.

Here is a list of the most popular retail stores. Note these stores can be offline or online or both.

  • computer retail stores/laptop retail stores
  • electronics retail stores
  • clothing retail stores
  • software retail stores
  • furniture retail store
  • games retail stores
  • jewelry retail stores
  • mens retail stores
  • shoe retail stores
  • music retail stores
  • kids retail stores
  • hardware retail stores
  • mobile phones retail stores
  • baby retail stores
  • shoes retail stores
  • fishing retail stores
  • retail grocery stores
  • software retail stores
  • clothes retail stores
  • camera retail stores
  • golf retail stores
  • apparel retail stores

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