Retail organizations and management concern activities to operate a business and coordinate resources to add value to the products and services sold to consumers, including store formats, retail location, variety and assortment, and pricing. The retail sector has become an important contributor to both the service and the experience economy as it has developed an increased variety of retail outlets, such as one-stop shopping, specialty stores, shopping malls, and department stores. Modern retailing is often characterized as providing services and convenience, shopping entertainment, expertise and advice, financial solutions, logistic services, and technological software such as mobile applications and self-scanning. The vast majority of retail firms are small- and medium-sized enterprises, but the few big retailers, often organized as retail chains, are very large. The retail sector is often connected to experience activities such as tourism, dining, and cultural experiences, and it is also a major contributor to service development. In many parts of the world, retailing is the largest private [p. 647 ↓ ] employment sector, and often the sector closest to the consumer in the value chain. Many retail firms seek to manage not just products and processes but also innovation in their value propositions across the value networks in which they operate.

This entry reviews retail organizations and management, focusing on store formats, new technology, business models, and product management. Discussions are also presented regarding retailers as experience providers, omni-channel strategies, and the future of retailing. This entry uses two central perspectives on retail organizations and management: (1) innovation and (2) consumer.