How Has Retail Industry Emerged?

In the not so distant past, manufacturers created a product, advertised it slickly and sold it through their distribution channel. The manufacturing companies enjoyed economic power, as they were significantly bigger in size as compared to the distributors or the retailers. They determined prices, the products that the retailer could stock and also the dealer and distributor margins. They would also independently advertise for their products. In case of a dispute with the distributor or retailer it would not be rare for the manufacturer to discontinue supplies. However, much has changed.

Today, retail has emerged as a separate function by itself. The environment in a large organized retail store is significantly different from that of a traditional or a mom and pop store.