58 Chapter 3 Nonstore Retail Operations Checkpoint 3.1 1. Give three examples of nonstore retailing. 2. What are the advantages of online shopping? 3. Why do consumers use the Internet to conduct research before buying? 4. Explain how product reviews affect purchasing decisions. 5. What security and privacy concerns does e-tailing present to customers? Build Your Vocabulary As you progress through this course, develop a personal glossary of retailing terms and add it to your portfolio. This will help you build your vocabulary and prepare you for a career. Write a defi nition for each of the following terms, and add it to your personal retailing glossary. off-site purchasing e-tailing m-commerce mobile app web-infl uenced sale shopping bot identity theft ✓ Exploring Retail Careers Market Analyst A profi table retailer is one that entices customers to visit and buy product. Companies rely on market analysts to fi nd out what products or services people want and how much they are willing to pay for them. Market analysts research market conditions. Data about potential competitors and their pricing is gathered. Market analysts review current sales of similar products. They decide if a retailer can make money selling the product at current prices. This data helps retailers decide which products to offer. Other typical job titles for market analyst include purchase price analyst, market research analyst, and business development specialist. Some examples of tasks that market analysts perform include: • collect data on competitors to analyze their prices and sales • analyze data on potential customers (including demographics, buying habits, needs, and preferences) • detect shopping patterns in consumers • monitor industry statistics and trends • forecast trends in sales and marketing Market analysts must understand how to analyze data to fi nd trends. They must be able to communicate complex data to company executives. A strong background in statistics is necessary. The ability to use data-retrieval software is also needed. A bachelor degree is usually required. Top-level jobs often require a master degree.