name any three risk that a retailer has to bear
Answers
A retailer has to bear the following risks:
1. Competition from big stores: There's no insurance that can protect a retailer from such a risk as anybody is free to set up his or her store near another store and this only enhances the competition in the market.
2. Theft- This is a common risk that is difficult to prevent. However, it is important to have extra security in the store to prevent such mishaps.
3. Data breach- Any store that uses the old point of sale technology is prone to a data breach as hacking has become common and it is important to have extra cybersecurity measures to prevent such happenings.
Answer: The major three risks a retailer bears are as follows
INTENSE COMPETITION
IMPROPER STORAGE OF GOODS
REPUTATION RISK
Explanation: Intense competition - As an increase in competition in the market may hinder in the revenue of the retailer .
Improper storage of goods - The improper storage of goods may cause in loss of products or damage . They may be stacked without safety . The loss of products will directly influence the revenue growth .
Reputation risk - The direct relation with the consumers creates the reputation . Reputation risks have been increased due to online business.