Retail refers to the activity of selling goods or services directly to consumers or end-users. Some retailers may sell to business customers, and such sales are termed non-retail activity. Different jurisdictions set parameters for the ratio of consumer to business sales that define a retail business.

What is a retail activity?

Retail refers to the activity of selling goods or services directly to consumers or end-users. Some retailers may sell to business customers, and such sales are termed non-retail activity. Different jurisdictions set parameters for the ratio of consumer to business sales that define a retail business.

Who is called retailer?

A retailer is a person or business that you purchase goods from. Retailers typically don’t manufacture their own items. They purchase goods from a manufacturer or a wholesaler and sell these goods to consumers in small quantities.

What are some of the challenges facing retailers and wholesalers today?

Here are some of them:

1. Increased Demands from Manufacturers. Manufacturers seem to be increasing their demands with each passing day.
2. Increased Demands from Retailers. Big-box retail chains are making increased demands as the competition heats up.
3. Fuel Price Volatility.
4. Employee Safety.

Are retail sales down 2020?

On the brick-and-mortar side, retail sales will decline 14% to $4.2 trillion in 2020, and it could take up to five years for physical store sales to return to pre-pandemic levels.

What is the difference between online shopping and traditional shopping?

The main difference between online shopping and traditional shopping is that online shopping is very convenient as you can shop anytime, anywhere while traditional shopping can be time-consuming, but allows you to actually see and touch the products you are buying.

What are the strategic issues in retailing?

Strategic Issues in Retailing

• cost.
• location of the target market.
• kinds of products being sold.
• availability of public transportation.
• customer characteristics.
• competitors location.
• relative ease of traffic flow, incl. pedestrian.
• parking and major thorough fares.

What are the types of retailing?

Principles of Marketing

• Introduction. Beyond the distinctions in the products they provide, there are structural differences among retailers that influence their strategies and results.
• Department Stores.
• Chain Stores.
• Supermarkets.
• Discount Retailers.
• Warehouse Retailers.
• Franchises.
• Malls and Shopping Centers.

What are the main challenges facing retail today?

Let us have a look at some of these challenges, retailers might face and ways to overcome them.

• #1. Attracting customers.
• #2. Retaining customers.
• #3. Keeping up with changing customer expectations.
• #4. Encouraging digital and contactless payments.
• #5. Supply chain management.

Which is most important activity in retailing?

Note: Remaining activities like inventory Management, Customer service, Sales Promotion are discussed thoroughly in the subsequent chapters. Management of Retail Floor: ADVERTISEMENTS: Opening and closing activities are the primary activities of a store.

What are the functions of retailers?

Functions of retailers

• Function of breaking bulk.
• Function of creating place utility.
• Stocking Varieties of goods.
• Providing credit facilities to customers.
• Providing information to customers and wholesalers.
• Estimating the demand and arranging the purchase of the product.
• Acting as consumer’s agent.
• Marketing functions.

What is the nature of retailing?

Retailing is an end part of distribution process. It involves selling products and services to customers for their non-commercial, individual or family use. Unlike whole-selling, retailing is aimed at the actual consumer and involve for personal consumption and not for institutional consumption.

What is importance of retailer?

Consumers benefit from retailing is that, retailers perform marketing functions that makes it possible for customers to have access to a broad variety of products and services. Retailing also helps to create place, time and possession utilities. A retailer’s service also helps to enhance a product’s image.