Explain the three classifications of retailers.

Retail stores can be classified as product line retailers, bargain retailers, and convenience stores. Product line retailers include department stores, which are organized into specialized departments, handling a wide range of goods and offering a wide variety of services. Supermarkets are also product line retailers; supermarkets are divided into departments of related products. They stress low prices, self-service, and wide selection. Another type of product line retailer is the specialty store; these stores are small stores that carry one line of related products. The second classification of retail stores is the bargain retailer. These retailers carry wide ranges of products and come in many forms, including the discount house, catalogue showroom, and the factory outlet. Finally, convenience stores, the third classification, offer ease of purchase. These stores stress easily accessible locations, extended store hours, and speedy service.