Question

Identify the type of large scale retail trade the following sentence refer to :
(i) Sale of goods is through different outlets located at different
places.
(ii) Goods are generally available at a price higher than its market
price elsewhere.
(iii) The stores are mostly controlled by a group of consumers.
(iv) A number of facilities are offered to customers apart from the
product for sale.
(v) Goods of the same type are sold to customers.

Answer 1

Explanation:

The whole statement is true.

Answer 2

Answer:

(i) 'Sale of goods' is through 'different outlets' located in different

places': Retail Outlets  

(ii) 'Goods are generally available' at a 'price higher than its market

price' elsewhere': Premium boutique shops  

(iii) 'The stores are 'mostly controlled by a 'group of consumers': Self-help/Self-service stores  

(iv) 'A number of facilities' are offered to customers' apart from the

'product for sale': Departmental stores  

(v) 'Goods of the same type are 'sold to customers': Specialized stores  

Explanation:  

• Retail outlets are different stores where the company sells its goods to different geographical areas within a specific market.
• In boutique shops, the goods are available at a higher price on account of them being of premium quality and unique in variety.
• In self-help stores or self-service stores, the consumers control the store operations along with the checking out and payment.
• In departmental stores, a number of other services like gift wrapping, the home dropping of purchased goods, servicing and repair of items are provided.
• In specialized stores specializing in a specific type of goods, the same type of goods is sold. Namely, cosmetics shops, electronics goods, and others.