Here is your free essay on Retail Trade

The retailer, as a member of the distribution channel, is the last link in the flow of goods from the producer or manufacturer to the ultimate consumers. It is the retailers through whom the consumers’ wants are smoothly and efficiently supplied.

Definition:

Retailing business of the retail middleman has been defined as the “marketing operations involved in selling directly to ultimate consumers who have a demand for products and services for personal or family use”.

Retailing is the act of marketing goods to ultimate consumers. It exists to provide services, satisfaction or utilities to society. It does this through a comprehensive plan of action consisting of the pricing, promotion, product, and location policies of the retailing firm.

Characteristics of Retailer

i) Retailers purchase goods in small quantity from the wholesalers.

ii) They sell variety of goods unlike wholesalers. Ex: Goods dealt in departmental stores.

iii) They sell goods according to the tastes, needs of the consumers.

iv) Retail outlets are generally located very close to customers place. This helps the consumers to save time and money in procuring goods.

v) Retailers have a personal contact with the customers.

vi) All the commodities sold in the retail outlet will be displayed. This enables the customers to get an idea about the products available in the retail outlets.

vii) Retailers provide maximum satisfaction to the customers by providing the goods

At the right time,

At the right place,

At the right price,

At the right quality and

At the right quantity.