Another word for the off-trade, in the same way Hospitality is another word for the on-trade. The Retail market is operated by the Retailers who generally have networks of hyper, super or mini markets open to the public.

Example of Use: ‘The UK Retail Market is dominated by four major actors : Tesco, Asda, Sainsburys and Morrison’s.’

Indie Bartender Understanding: A general word for where we all have to do our shopping. As opposed to the hospitality industry, we buy our drinks in retail to take them and drink at home.

The Retail Selling Price is the price at which retailers sell a product to their customers in the off-trade, the price we pay when we go shopping. Brands develop a product with a certain retail price in mind however they can not impose that price on their customers. They therefore define a Recommended Retail Selling Price which is the reflection of the brand’s positioning versus its competition.

Example of Use: ‘Our RRSP strategy is to position our brand at 10% above our nearest equivalent competitor and to convince the retailers to respect this we are presenting our brand strategy to them in our next meeting.’.

Indie Bartender Understanding: This is an off-trade market concept and doesn’t affect us in hospitality. Nevertheless, it is the price in the off-trade that is the reference for the price positioning of any brand versus its competition across the whole market.