Retailing consists of the business activities involved in selling goods and services to consumers for their personal, family, or household use. It includes every sale of goods and services to the final consumer.
In a distribution channel, retailers play a key role as the contact between manufacturers, wholesalers, other suppliers and the final consumer. Many manufacturers would like to make one basic type of item and sell their entire inventory to as few buyers as possible. But final consumers usually want variety and a limited purchase. So, retailers collect an assortment of goods and services from various sources, buy them in large quantity and sell in small quantities to consumers. This is the ‘sorting process’. In fact, the word ‘Retailing’ is actually based on this breaking-bulk function. It is derived from the French word ‘retailler’, which means, “to cut up”.
Definition of Retailing
- It is the last commercial link in the marketing channel and the point where products finally reach their users.
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- Retailing includes all activities directly related to the sale of goods or services to the ultimate customer for personal non-business use.
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- Dictionary Definition: The selling of goods to general public
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