Question

Write short notes on the following.
1. Features of one price shop.
2. Speciality shops
3. Chain stores
4. Hawkers and Peddlers
5. Chamber of Commerce and Industry

Answer 1

1. The following are the main features of one price shop.
i. Wide variety of goods: They provide a wide variety of goods to the customers.
ii. Low Price: The price charged by these shops is comparatively lower than that charged by other shops.
iii. Centrally located: Generally they are centrally located. Sometimes, they are temporarily set up in fairs and exhibitions.
iv. Cash sales: In these shops, sales are done on cash basis. As a result, there is no accumulation of debts.

2. Speciality shops specialise in a particular segment of the market. They deal only in a particular type of product from the selected product line such as men’s wear or college books. The goods offered at such stores are available at reasonable rates. They generally sell all the brands that deal in that product type. For instance, a shoe store may provide all the varieties of shoe Brands, such as Carlton London, Adidas, Bata and Catwalk.

3. Chain stores are owned and operated by single organizations that specialise in the selling of a single line of products. They are retail stores that are generally spread across various localities and operate on a large scale by serving a large consumer base. The various branches in different localities are owned and managed by a single head office which controls the working of the overall organization. Some of the chain stores operating in India are Pizza Hut, Dominos, etc.

4. Hawkers and peddlers are the oldest form of retailers. They sell low-priced and low-standard goods at the doorsteps of consumers such as vegetables, articles, utensils and pens. Such retailers often do not have any fixed shop for conducting their operations. In fact, they carry their goods on cycles, rickshaws or carts in order to reach out to a large base of consumers. The capital required by such retailers is very small and the amount of stock carried by them is also limited.

5. Chamber of Commerce and Industry acts as a guardian of trade, commerce and industry to protect and promote the common interests and goals. It facilitates the activities related to the inter-state movement of goods by registering vehicles, formulating transport policies and by constructing roads and highways. They also charge Octroi and local taxes on goods or from people entering into a state or municipal boundaries. These taxes form an important source of revenue for the local government. The chamber of commerce and industry also helps in the development of sound infrastructure.