Retail Learning

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3. Top 10 Recommended Retailing Books

The list of business books explaining how to start a business is almost endless. However, the number of good guides to
opening and operating a retail store are few. The following list is our top picks for books we recommend for retailers
starting their own shop.
1. Retail Business Kit for Dummies

John Wiley & Sons

An excellent desk reference for anyone thinking about starting a retail business. Marketing guru Rick Segel walks us
through start-up planning to growing a successful business. A CD-ROM with business forms, checklists, print marketing
materials and more is included.(John Wiley & Sons)
2. Specialty Shop Retailing

John Wiley & Sons

Author Carol Schroeder's experience growing a small gift store into a $1.5 million-a-year operation is outlined in this
book written especially for small retailers. It covers business basics, including finding a niche, determining which
products to sell, developing a realistic business plan, and managing a specialty store. (John Wiley & Sons)
 
3. E-Myth Revisited: Why Most Small Business Don't Work and What to Do About It

Harper Collins
Small business consultant Michael E. Gerber takes the reader through the steps of the business life cycle as he explains
the how to apply the lessons of franchising to any business. He also explains the entrepreneurial myth and how to avoid
the fatal assumptions that often cause a business to fail. Although this book is not geared specifically towards retail, the
success secrets revealed are valuable for any entrepreneur. (Harper Collins)
 
4. A Shop of One's Own: Women Who Turned the Dream into Reality

Sterling Publishing
Unlike most small business books, this visually appealing entrepreneurial guide focuses on gift shops, stationery stores,
gourmet emporiums and millineries in a creative way. The authors use their experiences to explain how to start a retail
business, establish credit, choose a location, market products and more. (Sterling Publishing Co.)
 
5. Retail in Detail: How to Start and Manage a Small Retail Business

McGraw-Hill
Sound advice in a step-by-step format for operating a retail business. The author covers daily situations like pricing,
credit policies, employee relations, and merchandise displays. The samples and worksheets alone classify this book as a
must-have for any retailers bookshelf. (McGraw-Hill)
 
6. Start Your Own Successful Retail Business

McGraw-Hill
Learn what works and how to avoid the most common pitfalls, as successful retailers and retail experts from across the
country share their real-life experiences and insights. (McGraw-Hill)
 
7. Winning At Retail: Developing a Sustained Model for Retail Success
John Wiley & Sons Inc
Using case studies from such success stories as Costco, Target, and Walgreens, two prominent retail consultants offer
strategies for retailers. This book covers customer service, retail strategy, demographics, and the latest trends in
retailing. (John Wiley & Sons Inc)
 
8. 1001 Ideas to Create Retail Excitement

Prentice Hall Press

Public relations guru Edgar Falk shows retail business owners how to make the most of retailing opportunities in any
economic environment. This book examines how to think big in the face of growing competition and consumer
insecurity. (Prentice Hall Press)
 
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9. Retail Success

Willoughby
Retail expert George Whalin offers the reader practical tips for all areas of retail store operations. From building sales to
bringing the customer back into the store, Mr. Whalin explains how to make the most of marketing research techniques
to increase customer traffic and sales. (Willoughby)
 
10. Start and Run a Retail Business
 Midpoint Trade Books Inc
Jim Dion and Ted Topping tackle tough topics such as selecting the best location, hiring the right employees, advertising
and promoting a new business and dealing with wholesalers. (Midpoint Trade Books Inc)
4. Retailing Glossary

5. Retail Terminology
a. Retail “lingo” can get overwhelming. To help you understand all the retail terms used in
everyday business between wholesalers and retailers, Retail Minded has created a
dictionary for your convenience.
b. If there is a retail term you do not see included in this list, please email Retail Minded and
we will define the term you are looking for in the near future.
c. Retail Terminology as Defined by Retail Minded
d. Big Box Stores: Commonly referred to by Retail Minded as the “big dogs”, big box stores are
stand alone stores that carry assorted merchandise. An example would be Macy’s or Target.
Big box stores may also be categorized as department stores, discount stores, or warehouse
stores depending on the store itself.
e. Boutique: Refers to small shops or stores that are independently owned and often sell a
product assortment that is not duplicated exactly in any other store.
f. Cash and Carry Wholesaler: A form of wholesale that sells products on the spot, usually
with cash only, to a purchaser who is then able to self carry the products out themselves
without having to wait for any time in between purchasing and delivery.
g. Cash Wrap: The place where a consumer goes to purchase product or services within a
store, usually consisting of a cash register machine as well as supplies, such as tissue and
bags, for purchases to be placed in.
h. Consumers: The final purchaser, or end user, of any product or service.
i. Dead Stock: Inventory in a store that has never been used or purchased by a consumer,
however is from a previous season and despite multiple attempts to sell it, this stock does
not sell. Dead stock is often a result of inexperienced buying, including lack of knowledge of
the customer base.
j. Demographics: Identifies population in groups based on age, gender, income, occupation,
education, religion, race, family size, family life style, and more.  Government studies often
provide demographic information.
k. Discount: A reduction in the price of an item or transaction based upon the customer
making the purchase.
l. Email Blast: An email sent to a large group of people at once.
m. Kiosk: A free standing structure used in a public place, such as a mall, that is designed to
support product or a service to be sold to consumers. It is also used for interactive
opportunities and may be on a short term basis, such as when used during a festival.
 n. Look Book: A book that is similar to a portfolio, however it represents a product line rather
than providing visual samples of one’s work history. The purpose of a Look Book is to
provide a “story”, “feeling”, or “inspiration overview” of the product assortment through
photographs of the product you want to sell.
o. Markdown: A devaluation of a product based upon its inability to be sold at the original
planned selling price.
p. Markup: Increase in the price of a product or service to create a profit margin for business.
q. Manufacturer: Refers to hand made or machine constructed products that begin as raw
materials and are completed into finished goods that are for use or sale to wholesalers as
well as retailers.
r. Operating Expenses: The expenses involved in running a business.
s. Physchographics: Identifies life styles and stages that appear to influence consumer
shopping decisions. Includes activities, beliefs, habits, opinions, and more.
t. Retail: The business of selling services or products that will ultimately be sold to consumers.
Includes manufacturers, wholesalers, and retailers.
u. Retailer:A fixed location, including store fronts, the internet, kiosks, and vending stations,
that sell products or services to consumers.
v. Retail Supply Chain: A product is created at a manufacturer, is sold to a wholesaler, then is
sold again to a retailer who ultimately sells the product to the final purchaser, the
consumer.
w. Visual Merchandising: The art of using effective design and merchandising ideas that will
enhance the shopping experience of a store as well as increase sales and foot traffic.
x. Wholesaler: An individual or company that sells a product or service to a retailer and does
not sell this product or service directly to consumers
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