Retail involves in sale of goods from a single point (Mall , market, department store ) directly to consumer in small quantity of his and use
What is Retail ?
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Selling consumer goods or services to customers through multiple channels of distribution to earn a profit is know as retail. Retail is the integrated part of system called supply chain . A retailer purchase goods or products in large quantities from manufacturers directly or through a wholesale and then sells smaller quantities to the consumer for a profit.
Retail, by definition, is the sale of goods or service from a business to a consumer for their own use.
- Store retailing: The diverse forms of retail stores represent different strategies for selling goods and services and are a result of the diversity of product groups covered by the term “general merchandise”
- Non-store retailing : it may be defined as the types of retailing with does not include conventional shops or stores. It can involve door-to-door selling, Television home shopping, automatic vending machines or tele marketing.
- Corporate retailing: It involves retailing through corporate channels like chain stores, franchises, and merchandising conglomerates. Corporate retailing focuses on retailing goods of only the parent or partner brand.
- Internet retailing: Internet retailing or online retailing works on a similar concept of selling small quantities of goods to the final consumer but they serve to a larger market and doesn’t have a physical retail outlet where the customer can go and touch or try the product.
- Service retailing: Retailers not always sell tangible goods, retail offerings also consists of services. When a retailer deals with services, the process is called service retailing. Restaurants, hotels, bars, etc. are examples of service retailing.