Technology opens the way for new forms of retailing such as the World Wide Web of the Internet, CD-ROM catalogs, and interactive kiosks. Retailing is such an important value-chain activity that many manufacturers are setting up their own stores. How Retailing Satisfies Customers 1. Retailing satisfies customers by offering time, place, possession, form, information, and service utility. Research shows that time utility is the U.S. consumer's top priority.
Customers gain place utility by having convenient access to products where needed.
Many retailers also create form utility, by transforming raw materials into finished products. Retailers create information utility by providing customers with information about goods and services. Retailers create service utility by responding to customers quickly and resolving any problems professionally. How Retailing Contributes to the Economy 1. In the U.S. 1.5 million retail outlets employ 20 million people.