Tag: retail

Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. The term “retailer” is typically applied where a service provider fills the small orders of a large number of individuals, who are end-users, rather than large orders of a small number of wholesale, corporate or government clientele.Sometimes this is done to obtain final goods, including necessities such as food and clothing; sometimes it takes place as a recreational activity.

Over the centuries, retail shops were transformed from little more than “rude booths” to the sophisticated shopping malls of the modern era.

Most modern retailers typically make a variety of strategic level decisions including the type of store, the market to be served, the optimal product assortment, customer service, supporting services and the store’s overall market positioning. Once the strategic retail plan is in place, retailers devise the retail mix which includes product, price, place, promotion, personnel and presentation.In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar and online retailing.Retailing support services may also include the provision of credit, delivery services, advisory services, stylist services and a range of other supporting services.

Retail shops occur in a diverse range of types and in many different contexts  from strip shopping centres in residential streets through to large, indoor shopping malls.