Supermarket
?Supermarket is a type of retailing1 institution that has a moderately broad product assortment2 spanning groceries and some nonfood lines, that ordinarily emphasizes price in either an offensive ordefensive way. As a method, supermarket retailing features several related product lines, a high degree of self-service, largely centralized checkout3, and competitive prices. The supermarket approach to retailing is used to sell various kinds of merchandise, ________.
The term supermarket usually refers to an institution in the grocery retailing field. Most supermarkets emphasize price. Some use price offensively by featuring low prices in order to attract customers. Other supermarkets use price more defensively by relying on leader pricing to avoid a price disadvantage. Since supermarkets typically have very thin gross margins4, they need high levels of inventory5 turnover6 to achieve satisfactory returns on invested capital.
Supermarkets originates in the early 1930s. They were established by independents ________. Supermarkets were an immediate7 success, and the innovation was soon adopted by chain stores. In recent decades supermarkets have added various nonfood lines to provide customers with one-sTOP shopping convenience and to improve overall gross margins.
Today stores using the supermarket method of retailing are dominant8 in grocery retailing. However, different names are used to distinguish these institutions ________:
A superstore is a larger version of the supermarket. It offers more grocery and nonfood items ________. Many supermarket chains are emphasizing superstores in their new construction.
Combination stores are usually even larger than superstore. They, too, offer more groceries and nonfoods than a supermarket but also most product lines found in a large drugstore. Some combination stores are joint9 ventures between supermarkets and drug chains such as Kroger and Sav-on.
Formany years the supermarket has been under attack fromnumerous competitors. Forexample, a grocery shopper can choose among not only many brands of supermarkets but also various types of institutions . Supermarkets have reacted to competitive pressures ________: Some cut cosplayts and stressed low prices by offering more private brands and generic11 products and few customer services. Others expanded their store size and assortments12 by adding more nonfood lines , groceries attuned13 to a particular market area , and various service departments .
A by size and assortment
B than a conventional supermarket does
C including building materials, office products, and, of course, groceries
D attracting more customers with their low prices
E primarily in either of two ways
F to compete with grocery chains
KEYS: CFABE
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