Exercise: Retailing concepts and terms

Work in pairs (or digital breakout room groups). Choose a spokesperson, ready to answer on behalf
of your group.

1) Provide brief explanations in English for the concepts below.

 independent retailer
An independent retailer is someone who is completely responsible for his or her
own business. The retailer owns or has bought an independent store and has built
the business from the ground up by assessing all needs of the store, which can
include staffing, marketing, merchandising, sales, etc.
 e-tailing
Electronic retailing (E-tailing) is the sale of goods and services through the Internet.
E-tailing can include business-to-business (B2B) and business-to-consumer (B2C)
sales of products and services.
 Wholesaler
a person or company that sells goods in large quantities at low prices, typically to
retailers.
 retail outlet
A retail outlet or store is a retail sales establishment which has a genuine retail
activity and which therefore has a sales area. This therefore excludes ancillary
establishments such as warehouses or the offices of commercial enterprises without
their own turnover. Such as malls and supermarkets.

2) Fill in the equivalent terms (ENG | NOR)

franchisor franchisegiver
franchise forhandlerrett, forhandlerrettsavtale
variety chain store sortimentskjede
voluntary retail chain frivillig detaljistkjede

3) Read the text out loud to each other, taking turns.

a) Fill in the terms in the empty slots highlighted in green (see box below text)
b) Explain/translate the words highlighted in yellow.

The new coronavirus economy: A gigantic experiment reshaping how we work and live

As the pandemic takes hold across America, some businesses are getting crushed, like
Powell’s Books in Portland, Ore., which closed its doors for at least eight weeks. Others are
thriving, like Amazon, which announced 100,000 new hires (people recently hired,
nyansettelse) to help manage the rush of online orders. Still others, like Tampa’s Rooster &
the Till restaurant, are adapting — in ways that, economists say, might lead to __long
term_shifts in how Americans spend, work and live.
The pandemic has been a relentless destroyer of __brick and mortar __ businesses as public
health officials warn against in-person interactions. But the coronavirus is boosting almost
anything that can be done online or with minimal human contact — grocery
(dagligvaremarked) deliveries, online learning, takeout food, streaming video, even real estate
(fast eiendom) closings (making deal/closing deals) done with online notaries.

The result, economists say, is likely to be dramatic losses in local _retail and dining options,
with millions of jobs disappearing as the biggest and wealthiest companies — especially those
that do much of their business online — extend their gains (gevinst). Telework, online
education and streaming video have grown sharply, while movie theaters, schools and
traditional workplaces close their doors. Some will never reopen in a world where the shift
from real to _virtual__ suddenly has gone into overdrive.

While some economists caution that these shifts may be temporary (midlertidig), others see
long-term changes taking hold.

The _impact_ of the coronavirus are cutting across the nation’s more than $20 trillion
_economy__, closing down sports leagues and art venues, canceling concerts and funerals,
and shuttering bars, boutiques, restaurants and toy stores.

Even before the crisis, retailers last year announced a record 9,300 store closures amid
widespread bankruptcy (konkurs) filings. As the growing _pandemic_ forces companies like
Apple, Nordstrom and Macy’s to close thousands of stores temporarily, analysts say they are
bracing for a monumental shift: Deborah Weinswig, head of the retail analyst Coresight
Research, said that more than 15,000 _stores_ are likely to announce closures this year.

Washington Post; 21 March 2020.

stores, pandemic, long-term, economy, brick-and-mortar, retail,

impacts, virtual