specialist shopa RETAIL OUTLET which concentrates exclusively on selling either a particular type of product or a narrow range of related products: a shoe shop, a butcher's shop, an electrical goods shop, a chemist's shop etc. Specialist shops may be under a single shop ownership or run as a multiple CHAIN-STORE business. Traditionally specialist shops have competed mainly by offering personal service and good quality products. Increasingly, however, with the appearance of SUPERMARKETS and DISCOUNT STORES, specialist shops have been forced to compete on price. In this regard, the large specialist shop chains have been able to obtain significant price discounts by BULK BUYING from manufacturers, while single shops have found it advantageous to participate in VOLUNTARY GROUP organizations to obtain similar concessions. See RETAILER, DISTRIBUTION CHANNEL.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
specialist shopa RETAIL OUTLET that specializes in a narrow range of related products, for example, electrical goods and accessories, sweets and confectionery, sportswear stores, bakers, butchers, etc. Specialist shops may be under single-shop ownership or run as a multiple CHAIN-STORE business. See also RETAILER, DISTRIBUTION CHANNEL.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005