appreciate the importance of retail industry?
Answers
Answer:
Importance of Retail Industry
Retail involves the selling of goods to customers. While meeting the needs of customers, following are some of the functions performed by a retailer:
Customer Convenience: Perhaps the most important role of bringing the ready to be consumed goods to the doorstep of the consumer is performed by the retail community. Consumers benefit from retailing as 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. Retailers stock goods and ensure the availability of products and services just when the customer needs them. Convenience Stores operate over extended hours through the week and give customers greater flexibility and choice.
Accessibility: Products and services have no value for consumers until they are acquired and used by the customers. Retailers acquire products and services from different places and. assort them at a single point as per the needs of the consumers and thus facilitate customers' access.
Convenience of Size: Retailers break bulk and serve the products in quantities and sizes as desired by the customer. For example, shampoo is available in small sachets. The retailer helps consumer by providing appropriate products, service and advice in the packing and quantities desired by them.
Explanation:
importance importance of retail industry retail involves the selling of goods to customers. while meeting the needs of customers, following some of the function performed by retailer:
customer convenience: perhaps the the most important role of bringing the ready to be consumed goods to the doorstep of the consumer perform by retailer community. consumers benifit from retailing as retailers perform marketing functions that makes it possible for customers to have excessexcess to a broad variety of products and services retailing also helps to create place, time and position utilities.A retailer service also helps to enhance products images. retailers stock goods can ensure the availability of products and services when the customer needs them. Convenience stores operate over extended hours through the week and give customers greater flexibility and choice.
Accessibility: products and services have no value for consumers until they are acquired and use by the customers. retailers acquire products and services from different places and assort them at a single point as per the needs of consumers and thus facilitate customers access.
Convenience of size: retailers break bulk and serve the products in quantities incisors are desired by the customer. For example, shampoo is available in small sachets. The retailer helps consumer by providing appropriate products, service and advice in the packing and quantities desire by them.