Okay, new module and new chapter, Retail Trade, Retailer and his features. Let’s check, so the trade in which goods are sold to the final consumers directly, in small quantities is known as Retail Trade, nothing else.
A retailer sells varieties, remember, of goods in small quantities to us, the final consumers. A retailer is the last middleman in the chain of distribution, please mark this. As an objective, it appears, right, in your unit test or maybe in term examinations. He aims to satisfy the consumers.
Definition of Retail Trade: According to William Stantan, ‘Retail Trade includes all activities directly related to the sale of goods and services to the ultimate consumer for personal and non-business use’. So, he will do everything for selling it to final consumer, do remember, kids. And not for non-business use.
Retailer, according to W. Cundiff and R. Still, ‘Retailer is a merchant or occasionally an agent, whose main business is selling directly to ultimate consumer’. So, the person or person is called Retailer.
Let’s start with features. A retailer operates in, right, local market near residential areas, correct. Retailers deal in wide variety of goods to satisfy demands of different consumers. You can check in the shop, so many products like cleaning products, tea, coffee, honey, dairy products and you find variety and variety lots of varieties. ‘Hey, Mr. Vinod, this month consumers are demanding more Apul ice-creams. Demand for Wality ice-cream is less’. ‘Oh, so I will supply you more of Apul ice-creams this month’. ‘Yes, deliver only 50 pieces of Wality ice-cream’. ‘Yeah, sure’. A retailer is the link between the wholesaler and consumer. He knows exactly the consumers’ demand. I order goods as per consumer demands. I do not stock large quantity of goods. So, capital investmentrequired is, right, is less. So, retailers invest limited capital in their business. They enjoy credit facilities from wholesalers. Here, is a beautiful example, ‘Hey, Sameer, what’s going on?’, ‘Nothing special, business as usual or normal’. ‘Same here the demand for this Wality ice-cream has reduced nowadays’. ‘Yeah, this month I ordered only 50 pieces. So, I am not going to incur huge loss’. ‘Yes, we order goods from wholesaler in small quantities as per the customer demand, so we are safe’. So, retailers undertake less risk as they do not hold large quantities of goods, right kids. Herein, customer approaching to the retailer. ‘Hello, aunty, how are you?’ ‘I am fine, dear’. ‘Here is your regular soap and toothpaste’. ‘Oh, thank you dear, God bless you’. So, kids, what is this? Retailers always have good relations with, correct, customers for continuous business.
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