retail is a very broad term that encompasses a huge industry, employing millions of people and generating trillions of dollars per year in sales revenue. Retail is the sale of goods to consumersnot for them to sell, but for use and consumption by the purchaser.
The activity of selling goods to the public, usually in shops 2.
Retail Simple English Wikipedia, the free encyclopedia
According to oxford dictionary, retail is the sale of goods to the public in relatively small quantities for use or consumption rather than for resale. Retailers buy finished goods or items directly from a manufacturer or a wholesale r and then distribute in smaller quantities to the final consumer who has a need for such items.
Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. The term retailer is typically applied where a service provider fills the small orders of many individuals, who are end-users, rather than large orders of a small number of wholesale, corporate or government clientele. Sometimes this is done to obtain final goods, including necessities such as food and clothing sometimes it takes place as a recreational activity. Recreational shopping often involves window shopping and browsing it does not always result in a purchase. Retail markets and shops have a very ancient history, dating back to antiquity. Over the centuries, retail shops were transformed from little more than rude booths to the sophisticated shopping malls of the modern era. Most modern retailers typically make a variety of strategic level decisions including the type of store, the market to be served, the optimal product assortment, customer service, supporting services and the stores overall market positioning. Once the strategic retail plan is in place, retailers devise the retail mix which includes product, price, place, promotion, personnel, and presentation. In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar and online retailing. Digital technologies are also changing the way that consumers pay for goods and services. Retailing support services may also include the provision of credit, delivery services, advisory services, stylist services and a range of other supporting services. Retail shops occur in a diverse range of types and in many different contexts from strip shopping centres in residential streets through to large, indoor shopping malls.