shopping goods

(noun)

Goods that require more thought and comparison than convenience goods. Consumers compare multiple attributes such as price, style, quality, and features.

Related Terms

Examples of shopping goods in the following topics:

  • Shopping Products

    • Convenience goods are those that require little effort on the part of the buyer, while shopping goods require research and comparison.
    • In this section, we will differentiate between convenience and shopping goods.
    • Shopping goods do not necessarily have to be distributed widely.
    • Discounting, or promotional price-cutting, is a characteristic of many shopping goods because of retailers' desire to provide attractive shopping values.
    • An example of a shopping good is a car.

  • Specialty Products

    • Specialty goods represent the third product classification (after convenience and shopping goods).
    • If consumers shop at a store even if they have to go considerably out of their way to get there, it would be considered a speciality store that sells specialty goods.
    • Whether a good is a shopping or a speciality good depends on the consumer's socioeconomic background.
    • Since a speciality good entails a high degree of customer loyalty, the shopping effort does not involve comparing one brand against another, but finding a store that carries the item in question.
    • Speciality goods have higher profit margins and higher prices relative to convenience or shopping goods.

  • Product Line Pricing

    • Customers want and expect a wide assortment of goods, particularly shopping goods.
    • Traditional five and dime stores followed a line pricing strategy, where all goods were either 5 cents or 10 cents.

  • Social Classes

    • People in the same social class tend to have similar attitudes, live in similar neighborhoods, dress alike, and shop at the same type of stores.
    • Generally, the rich have the ability to purchase more consumer goods than those with less income, and those goods are of higher quality .
    • There is also a distinction in the type of goods purchased.
    • For example, the upper class tend to be the primary buyers of fine jewelry and often shop at exclusive retailers.
    • Material goods often take on major symbolic meaning for this group.

  • Business Products

    • Business products are sold to other businesses, as opposed to convenience, shopping, and specialty products, which are sold to consumers.
    • These are goods that are sold to other businesses, and used to produce other goods.
    • Industrial products can either be categorized from the perspective of the producer and how they shop for the product, or from the perspective of the manufacturer, how they are produced and how much they cost.
    • The demands for manufactured industrial goods are usually derived from the demands for ultimate consumer goods.
    • There are a number of specific types of manufactured industrial goods.

  • Value of Retailing

    • Retailing goods or services goes back to the beginning of recorded history.
    • Though referred to by a number of different labels throughout the globe, the pawn or second hand shop is a staple of most communities.
    • Retailing second hand or used goods, it enables consumers to purchase goods at deeply discounted prices or to borrow against and using the value of the product as collateral against a cash loan.
    • In most cases the price paid for the goods or the goods donated are often recognized as a tax-deductible item.
    • E Bay changed the way second hand goods are sold and bought

  • Nonprice Competition

    • Common practices in the competition between firms (such as supermarkets and other stores) include the following: traditional advertising and marketing, store loyalty cards, banking and other services (including travel insurance), in-store chemists and post offices, home delivery systems, discounted petrol at hypermarkets, extension of opening hours (24 hour shopping), innovative use of technology for shoppers including self-scanning, and internet shopping services.
    • For example, brand-name goods often sell more units than do their generic counterparts, despite usually being more expensive.
    • Amazon.com makes shopping and researching products, prices, and seller reliability quick and easy for its customers.

  • Targeting Consumers Where They Spend Time

    • Clearly, without the existence of people or businesses to buy and consume goods, services, and ideas, there would be little reason for marketing.
    • More and more consumers are shopping online, rather than traditional (and physical outlets) such as stores and shopping malls.

  • Business Marketing

    • In the broadest sense, the practice of one purveyor of goods doing trade with another is as old as commerce itself.
    • Electronic components shops in Guangzhou, China.
    • There is a whole area mostly taken over by these shops that supply local companies that assemble various electronic products.

  • B2C Channels

    • A business-to-consumer market, or B2C, is the sale of goods and services from individuals or businesses to the end user.
    • Shopping malls, grocery stores, and restaurants are all examples of brick-and-mortar stores .
    • Sometimes known as "click-and-mortar," this channel is rapidly expanding, as more people use the Internet for purchases of both goods and information.