Compare the function of formats and locations in retailing
The grading criteria for M1 requires learners to compare the function of formats and locations in retailing. Learners should be reminded that ‘compare’ means to identify similarities and differences and that a ‘function’ is what something does. Retail format and store location are closely linked. Retail format means the type of store; retail location means where the store is situated. Learners will need to have a thorough understanding of both retail formats and retail locations.
Retail formats include:
● multiple chains
● department stores
● discount stores
● shopping villages
● factory shops
● television shopping channels
● Internet traders.
Store locations include:
● in town stores
● in town shopping centres
● out of town retail parks
● out of town regional centres.
Learners could look at four different retail formats that they are familiar with and compare the function of each retail format with their location.
1. Is there a link between the two? For example, where are the larger retail formats?
2. Why do you think that retailers prefer to use a range of retail formats and store locations?