Specialty Stores in Retail
These include Crate & Barrel, the Body Shop, and Victoria's Secret. These stores concentrate on one type of merchandise and offer it in some manner that makes it special. Some are very high-end (think Louis Vuitton); others cater to the price-conscious masses (think Old Navy). Many are so successful that department stores have started to emulate their buying, marketing, and merchandising strategies. Industry experts predict growth in this segment, particularly for home furnishings and home improvement, and it seems to attract many of the best and brightest in retail. Promotion and responsibility come quickly to those willing to work hard, and in many of these stores the hand of bureaucracy is not heavy.
- Contributed by Nithin Narayanan