Source: Textile Review
Retailing consists of the sale of goods or merchandise from a fixed location, such as a department store, boutique, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be individuals or businessmen. Businessmen buying in bulk either directly or through a wholesaler for resale is known as retailer in commerce language. Retail establishments are often called shops or stores. Retailers are at the end of the supply chain. Manufacturing marketers see the process of retailing as a necessary part of their overall distribution strategy.
The concept of Retailing
The term "retailer" is also applied where a service provider services the needs of a large number of individuals such as a public utility, like electric power.
According to Swapana Pradhan, Retailing includes all the business activities involved in selling goods and services to the final consumers for personal, non business use. It is the final step in the distribution of merchandise for consumption by the ultimate consumers.
of the most common distribution channels for retailing to ultimate consumers
- Customer orientation: The retailer determines the attributes and needs of its consumers and endeavors to satisfy them to the fullest.
- Co-ordinates efforts: The retailer integrates all the plans and activities to maximize efficiency.
- Value-driven: Retailer offers good value to the customers, whether it be upscale or discount. This means having appropriate prices for the level of products and customer service.
- Goal orientation: Retailer sets goal and then uses its strategy to attain them.
The major role of a retailer is to collect an assortment from various sources and act as the contact between manufacturers, wholesaler and the consumers.