What Do You Maen By Retailing?

Retailing
The word retail is derived from the French word retailer which stands for cutting a price off. Evidently the retailer is the middleman who secures goods from the manufacturers or wholesalers in relatively large quantity and provides the goods to the consumers in single units or small lots. The retailer is the last link between the producer and the ultimate consumer.

Characteristics of retailing
1) Retailing employs whole time job to millions of people and part time job to thousands of students or house wives.
2) Retailing is highly competitive in nature
3) Most of the retail business is carried on comparatively with less capital by sole traders.
Functions of the retailers:
Some of the main functions performed by retailers are as under:
Providing local supply of goods
Selling in small lots
Variety of goods
Advice to customers
Provision of information
Other services
The retailers provide various facilities to its customers. For example
a- some retailers may provide goods on credit to the customers
b- they may provide delivery service in respect of consumer durable goods
c- they may also provide after sale service to the consumers
d- personal shopping for the customers may also be done by the retailers