retail 101

In partnership with

morning merry makers 🦋🌈🦄

you know those words that mean something different to everyone you ask? like "strategy" or “love” or even "success"?

well, "retail" is totally one of those words.

i realized this earlier this month when i was humbled to be named a top retail expert (still pinching myself tbh!). but as i was looking through all the different ways my fellow experts approach retail, it hit me:

we all work in retail,
but we’re doing very different things.

so as someone who's spent way too much time talking about retail (& occasionally correcting people who use the terms wrong 🙈), i figured it was time to break down what retail actually means - from its fancy french origins to all the different flavors it comes in today.

📚 retail's roots

latin was my language of choice in high school, mainly for the mythology but i love geeking out on an etymology moment too.

the word "retail" comes from the old french word "retaillier"

which literally means "to cut into pieces."

first popping up around 1365, it basically meant breaking down big quantities into smaller, more manageable chunks for regular folks to buy. which is still exactly what retail is today — just with better lighting, more tech, & less actual cutting!

to help us wrap our heads around how this term has evolved (& why it can feel so complicated), i've broken it down into the classic 4 w’s + 1 h.

👤 who

retail comes in three main flavors when it comes to who's calling the shots:

• independent retailers: think local boutiques & mom-and-pop shops doing their own thing. usually only a couple of locations.

• franchise operations: where someone buys into a bigger brand (hello mcdonald’s, 7-eleven, kfc, dunkin’ donuts & the ups store!)

• corporate owned & operated: where big mama corporate runs everything. this is what i’ve always worked in, specifically at apple & warby parker.

📍 where

then we have retail by channel of servicing the customer:

• brick & mortar: physical stores named after the building’s traditional materials. sadly the more accurate “steel & concrete” doesn’t have the same ring to it. (this is the channel merry makery focuses on 💖)

• online: aka ecommerce or digital. anything you shop from a website, typically on your computer in a browser window.

• mobile: sometimes included within online, but more specifically refers to purchases on your phone via apps, social selling, & yes, even those telemarketing calls.

• mail: while catalogs are mostly dead, some still live on that allow you to purchase directly by yes mailing in an order form. this is how j.crew, lands’ end, & victoria’s secret got their start!

you’ll likely hear “omnichannel,” “hybrid retail,” or “unified commerce” as terms for brands that do all of the above. some even say “phygital” but i just can’t get behind all those constants in a row.

🛍 what

next we have the split by what categories of things are being sold. many retailers fall into multiple of these:

• hardlines: durable, long lasting, & longer purchase cycle goods. think the tough stuff like furniture, electronics, & tools.

• softlines: nondurable, shorter lifespan, & more frequent purchases. think clothes, accessories, & anything else soft & squishy.

• food: fairly straight forward. this is groceries, perishables, restaurants, & consumer packaged goods (cpg by those in the know).

• services: things you buy but can't put in a shopping bag. think haircuts, banks, spas, & all the other services.

⚙️ how

this is where it gets a bit nerdy, but stick with me. these types are about the companies, called “parties”, involved in the transaction:

• 1st party: brands directly selling their own stuff like warby stores. sometimes called direct-to-consumer (dtc) or business to consumer (b2c)

• 2nd party: brands indirectly selling with exclusive or semi-exclusive supply relationships to other companies. think white label or “only found here”.

• 3rd party: retailers that resell products from other brands. could be marketplaces, wholesale, or consignment.

• hybrid: a mix of all the above. example of amazon doing all of the above with their brands, exclusive brands, & other brands. all the parties!

💎 why

finally, let's talk about why people shop where they do. this category is less talked about but still important:

• essential: needs-based stores. think back to the pandemic to the spots that never closed with essential workers. also how was this FIVE years ago 🥴

• convenience: when location or speed matters more than price. think airports, vending machines, convenience stores, & buc-ee’s travel centers iykyk.

• value: the spots that sell at a discount for the deal hunters & budget masters. think outlets & dollar stores.

• aspiration: the premium, lifestyle brands that convey status. think designer fashion, luxury cars, or high end electronics.

🍦 retail’s many flavors

here's what fascinates me most about retail:

no matter how you slice it (pun intended, remember that french etymology?)

it's fundamentally about human connection. 

whether you're running a tiny boutique or a massive department store, selling soap or selling dreams, serving pets or serving cardio, retail is the art & science of connection.

meeting people where they are
to give them what they need
to be who they want to be
when they want to be it.

the core will stay the same, but the terms will keep on evolving. because as humans change, so does retail.

so next time someone asks you what retail is, you can tell them about the cutting etymology... or you can tell them it's the business of human progress

one merry transaction at a time.

until next time,

MacK

p.s. quick retail real talk - i absolutely love hearing from my merry makers (seriously, your replies are the highlight of my week!). what other retail terms have you scratching your head? any specific brands you'd love me to break down? or retail concepts you want demystified? hit reply & let me know what's on your mind!

your questions inspire some of my favorite newsies 🤓✨

& for all my side hustlers, our merry partner hubspot’s got you ↓