Services to Wholesalers and Manufacturers
1. Retailers give manufacturers or producers access to markets by offering them the opportunity to present their products to consumers.
2. The manufacturer and the wholesaler are relieved of making individual sales to consumers in small quantities.
3. Retailers supply valuable and reliable information to wholesalers and manufacturers about the consumers’ demands and the changes occurring in their likes and dislikes.
4. Information about the consumers’ likes and dislikes received from the retailers through the wholesalers enable the manufactures to make suitable adjustments in the design, size and contents of their products. Thus they can manufacture right types of goods at right time.
Services to Consumers
1. As retailer holds stocks of goods ready for immediate use and he is prepared to sell in small quantities, the individual or household consumer is relieved of the burden of storing large quantities of every article of daily use.
2. Retailer provides consumers with a wide variety of choice. Retailers, by assembling products of different variety from different manufactures, enable consumers to make choice from a large variety of goods displayed in their stores.
3. Retailers buy and stock goods suitable to the consumers.
4. Retail shops are situated in convenient localities, usually very near to the consumers’ residence.
5. Retailers stock fresh goods to meet daily demands of their customers.
6. They sell to consumers in quantities, which suit the pockets of different individuals.
7. Retailers make available to their customers goods of the sizes, styles, types, qualities and prices they prefer.
8. Many retailers offer free home delivery of goods purchased.
9. Many types of retailers sell goods on credit to their customers whom they know personally.
10. Retailers supply information and give expert advice to consumers. Many consumers would not know that new products are available, if retailers do not bring this to their notice.
11. Many retailers visit their customers to collect orders and make enquiries about the goods supplied earlier.
12. Retailers are often ready to take back goods with which consumers are not satisfied and replace them.
TyPes: Retail Institutions
Itinerant Traders Fixed Shop Retailer
1. Hawkers and Peddlers 1. Street stall holders
2. Cheap jacks 2. General stores
3. Market Traders 3. Second-hand good sellers.
4. Street Traders 4. Speciality stores