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0:00
Hello. Welcome to my talk on
effective retail management.
I'm Prof. John Talbott.
I'm a senior lecturer
of marketing
at the Kelly School of
Business at Indiana University
in Bloomington, Indiana,
in the United States.
0:15
So today, I'd like to talk
about retail through
time and the origins,
the emergence of various
types of retailers,
particularly
multi-product retailers,
the development
of retail chains,
which really had a
tremendous amount of
impact on the formats
that emerged.
Then we'll talk about the
migration from High
Street to suburb
that has taken place
in one way or another
around the world.
I want to talk a bit
about the idea of scale
and get sort of an
understanding of
how large some of the
retail entities are today.
We'll talk about direct-to-consumer
in specialty retail,
and then maybe have
a quick discussion
about the notion of
the end of stores,
which I find rather comical,
but we'll talk about it anyway,
and then we'll wrap that up.
1:02
So retail originated in
Egyptian bazaars in the
earliest civilizations,
and Greek and Roman forums
were similar sorts of places,
although they weren't trading
goods; they were trading ideas.
The Middle Ages saw
the formation of
more fixed types of stores
selling a particular
type of good,
like a butcher, for example,
that would have a
fixed location,
not bringing their wares to
a particular marketplace.
During the Renaissance,
that continued to evolve,
and more forums and
types of stores emerged.
Then, of course, as
the age of exploration
and ships began
going back and forth
in places around the world,
we saw a lot of retail formats,
find some congruency
on a global basis,
and we see form factors
in different nations
that have very
similar qualities.
