CandleFocus Glossary Editor
A hypermarket is a large store offering a broad range of products to customers. Operating under a one-stop-shop framework, the modern hypermarket combines a mix of commodities -- such as grocery, electronics, apparel, home improvement supplies, toys and hobby equipment -- in one vast space. The concept behind the hypermarket originated in Europe in the 1970s, where business leaders and innovators wanted to debunk the traditional notion of a retail store, while also increasing availability to a much larger selection of products than what a traditional retail store could offer. By merging the supermarket and the department store concepts, hypermarkets created a central destination that offers a big variety of different kinds of products at one location.
Hypermarkets play a key role in the retail industry today, particularly in dense urban areas and small towns, providing a much needed central shopping destination for consumers to purchase all their essential items in one place. Aside from the convenience factor, hypermarkets are often known for their relatively low prices compared to smaller, more specialized retailers. The enormous buying power of hypermarkets – enabling them to buy in bulk directly from manufacturers, giving them more negotiating power on prices – allows them to offer substantial discounts to customers.
Larger, independent hypermarkets are often located on the outskirts of cities, in out of town centers, as they tend to operate best in large, self-contained stores. However, smaller chains and regional outlets have started to build their stores in cities, capitalizing on the convenience factor for urban consumers. Their success relies heavily on offering discounts, quality, store size and availability.
Nowadays, hypermarkets are extremely popular with consumers due to their convenience and discounts, making them an attractive shopping option for households, businesses and organizations. Hypermarkets also present a great opportunity for manufacturers and suppliers as they are desirable retail outlets for their own branded and private-label products. Because of the large selection of items on offer, hypermarkets often give shoppers an opportunity to explore and discover new products, as well as take advantage of special promotions, price reductions and discounts.
Hypermarkets play a key role in the retail industry today, particularly in dense urban areas and small towns, providing a much needed central shopping destination for consumers to purchase all their essential items in one place. Aside from the convenience factor, hypermarkets are often known for their relatively low prices compared to smaller, more specialized retailers. The enormous buying power of hypermarkets – enabling them to buy in bulk directly from manufacturers, giving them more negotiating power on prices – allows them to offer substantial discounts to customers.
Larger, independent hypermarkets are often located on the outskirts of cities, in out of town centers, as they tend to operate best in large, self-contained stores. However, smaller chains and regional outlets have started to build their stores in cities, capitalizing on the convenience factor for urban consumers. Their success relies heavily on offering discounts, quality, store size and availability.
Nowadays, hypermarkets are extremely popular with consumers due to their convenience and discounts, making them an attractive shopping option for households, businesses and organizations. Hypermarkets also present a great opportunity for manufacturers and suppliers as they are desirable retail outlets for their own branded and private-label products. Because of the large selection of items on offer, hypermarkets often give shoppers an opportunity to explore and discover new products, as well as take advantage of special promotions, price reductions and discounts.