Which business considers every individual as a customer? Which business accounts for more than 10% of the worldwide labour force and is the single largest industry in most nations? What is common between Wal-Mart, Big Bazaar, Flipkart, and the neighbourhood kirana stores? The answer is retailing. Retailing is the last link in the chain of distribution. The distribution of consumer products begins with the producer and ends at the ultimate consumer. Between the producer and the consumer there is a middleman - the retailer, who links the producers and the ultimate consumers.
Retailing has become such an intrinsic part of our everyday lives that it is often taken for granted. The nations that have enjoyed the greatest economic and social progress
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Therefore in order to survive in retailing, a firm must do a satisfactory job in its primary role i.e., catering to its customers.
According to Philip Kotler: "Retailing includes all the activities involved in selling goods or Services to the final consumers for personal, non-business use." A retailer or retail store is any business enterprise whose sale volume comes primarily from retailing. Any organisation selling to final consumers whether it is a manufacturer, wholesaler or retailer is doing retailing It does not matter how the goods and services are sold (by person, mail, telephone, vending machine or internet or where there are sold - in a store, on the street or in the consumer's home)”.
The word retail is derived from the French word ‘retaillier’, which means to cut off a piece or to break the bulk. A retailer may be defined, as a 'dealer or trader who sells goods in small quantities' or 'one who repeats or relates'. Retailing thus may be understood as the final step in the distribution of merchandise, for consumption by the end consumers. Put simply, a firm that sells products to the final consumer is performing the function of retailing. It thus consists of all activities involved in the marketing of goods and services directly to the consumers for their personal, family or household
The retail sectors are specializing in the selling of products that the consumers need in specific times and places. However, it is hardly the retailer's responsibility to produce the goods. The retailers just act agents, as they get the products to the consumers. Industrial retailing will focus more on the sale of small quantities of the products to the buyers. Transformational processes are not integrated in the retailing processes, as the retailers neither produce nor manufacture any goods. Initially, retailing was just transacted in stores and shop. Presently, technological upgrades and developments have affected the retailing process positively, leading to the use of electronics to do transactions. In most cases, the retailers will transact with cash specifically during payment of the products (Retail Council of Canada, 2009).
Retail: The sale of goods to the public in relatively small quantities for use or consumption rather than for resale.
Evaluate the international retail environment and discuss how changes over the last decade have influenced the development of retailing.
The retail industry is a sector of the economy that is comprised of individuals and companies
During the past decade, retail markets have undergone many changes in their processes, services, and formats. The last part of distribution of the market strategy, retailing serves as a bridge between the final consumer and the mass producers of products. Retailing has reached every corner of the globe, and Wal-Mart has been eying areas where the
The Australia retail sector is under huge pressures from many different forces. In the recent Lander & Rogers Briefing, Myer CEO Bernie Brooks referred to the current environment as ‘the third big revolution of the past 100 years’ for retail. This analysis will look at recent opinions and commentary on the Australian retail sector, with a focus on the potential consequences for the economic future for Myer. These commentaries will assist in highlighting the forces that are in play within the sector
The retail trade industry is a vast network of businesses that needs workers in hundreds of different occupations. Over the last 40 yrs. the changes we have seen to our high streets and local shops have been as drastic as any in technology. When I was young most of the shopping was done in traditional shops including the local Butchers, Bakers, Grocers and Newsagents.
Retailing is the selling of goods directly to the consumers; this can be achieved in many locations or formats. It is the last stage of the supply chain.
Today, the most important commercial activity is considered retailing, as the retail stores provide the consumers with various products and services. There are many fields in the retail industry such as franchise stores, supermarkets, specialty stores, variety stores, online merchants, and supermarkets. By having many types of merchants, the retail industry thus helps the customers to freely choose the sellers, or stores, and enjoy buying products at the selected stores. As various merchants sell almost all types of physical goods ranging from food, books, beauty aids, toys, automobile parts, clothing, and shoes, the total retail sales in 2013 were around $5 trillion, according to the U.S. Commerce Department. The total retail sales in 2013
End of Retail is your solution to getting something out of the ordinary when it comes to jewelry and accessories. If you are bored or seeing and shopping for the same old traditional pieces of jewelry, come to End of Retail for jewelry items with a twist and at affordable prices. Apart from jewelry pieces, the store also features a wide range of beauty and make up products and also many pieces that are especially designed to support various causes such as Breast Cancer Awareness, Autism Awareness, and for special occasions.
India has stepped in the exuberant age of retail. It ranks second after Russia as the most alluring destination for retailers among 30 emerging markets, according to the Global Retail Development Index developed by AT Kearney, a consultancy. The 10-12% increase in the economy’s disposable income can be seen clearly by the way goods and services are being brought and sold. Retail Trade contributes 10-11% of India’s GDP.
Retail stores, are one of the biggest and largest businesses around the world. They produce thousands of hundreds in revenues and they are some of the biggest employers industries. WALL-MART, IKEA, TESCO, ARGOS, MACYS, WALLGREENS and OFICCE DEPOT are some of the well-known retail stores that supply us every day with different kind of goods and services. For a better understanding, one of the main definitions of retail is: “...store commonly a shop or stall for the retail sale of commodities, but also a place where wholesale supplies are kept, exhibited, or sold…” What this means
Retail is when business sells products and provide service to the customer to make a profit. An example of a retail business is TESCO. There are many different types of retail sectors in UK which have different organisation and structures. In order for business to operate they will need to find the appropriate location, products they will sell to customer in order to gain profit for the business.
Sector: Retailing as a sector includes subordinated services, such as delivery. The term "retailer" is also applied where a service provider services the small orders of a large number of individuals.
Retail consists of the sale of goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser.[1] Retailing may include subordinated services, such