Retail goods can be sold through stores, kiosks, or even by mail or the Internet. Retail businesses can include grocery, drug, department and convenient stores. Service related businesses such as beauty salons and rental places are also considered retail businesses.
Accordingly, why retail industry is important?
Consumers benefit from retailing is that, retailers perform marketing functions that makes it possible for customers to have access to a broad variety of products and services. Retailing also helps to create place, time and possession utilities. A retailer's service also helps to enhance a product's image.
What is the retail business?
Wholesalers do not want to deal with a large number of end-user customers. Rather, their goal is to sell large quantities to a small number of retailing companies. It is rare for a wholesaler to sell goods directly to consumers. The retail price is always more than the wholesale price.
What is in the retail sector?
the retail sector noun [ S ] uk ? us ? ECONOMICS, COMMERCE. the part of a country's economy that is made up of businesses that sell goods through stores, on the internet, etc. to the public: Share prices in the retail sector have been driven up by takeover activity.