distinguish between wholesale trade and retail trade
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wholesale trade: refers to the buying and selling of good and services in large quantities for the purpose of resale or intermediate use.
Retail trade: it refers to the buying of goods and services in relatively small quantities, and selling them to uprimate consumers.
Retail trade: it refers to the buying of goods and services in relatively small quantities, and selling them to uprimate consumers.
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The word “Wholesale trade” means “selling or trading in large quantities” and the word “retail trade” means “selling or trading in small quantities.”
In the wholesale trade, the goods are sold to the retailer mainly who sells it to the customers. A wholesale trader might also sell the products directly to the customers.
The 3 major difference between wholesale trade and retail trade are following :-
1. Purchase and sale :-
In Wholesale trading purchase goods from manufacturer directly and sell it to retailers but in retail trading, the retailers purchase the goods from wholesalers or sometimes from manufacturer and sell them to the consumers. The goods sold in retail trading are not re sold.
2. Specialization
Generally, in wholesale trading it deals in specific products. But in retail trading deal in different products of different nature, quality and types.
3. Importance of place
For wholesale trading, place is not so important factor, it also does not need to display of goods or do something additional like decoration of shop to attract the customers. But for retail trading the location of shop is very important. And the retailer should be very clever, consider and pay much attention to attract customers.
In the wholesale trade, the goods are sold to the retailer mainly who sells it to the customers. A wholesale trader might also sell the products directly to the customers.
The 3 major difference between wholesale trade and retail trade are following :-
1. Purchase and sale :-
In Wholesale trading purchase goods from manufacturer directly and sell it to retailers but in retail trading, the retailers purchase the goods from wholesalers or sometimes from manufacturer and sell them to the consumers. The goods sold in retail trading are not re sold.
2. Specialization
Generally, in wholesale trading it deals in specific products. But in retail trading deal in different products of different nature, quality and types.
3. Importance of place
For wholesale trading, place is not so important factor, it also does not need to display of goods or do something additional like decoration of shop to attract the customers. But for retail trading the location of shop is very important. And the retailer should be very clever, consider and pay much attention to attract customers.
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