State the two function of a retailer
Answers
Answer:
Retailer can buy things in small amount.
Retailers can buy more things in small amount and sell it in small quantity
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The two functions of a retailer are :
1. Buying and Assembling:
It has been said that a retailer stocks wide variety of products to meet the requirements of a large number of customers. For this purpose, the retailer has to assemble products of different manufacturers from different wholesalers through the process of buying. In buying these products he has to be cautious. He has to find out the best and cheapest source of supply. Then he has to select only such of the goods offered which would suit the need of his customers. He must purchase only in quantities enough to meet the demands of his customers.
2. Warehousing and storing:
Products thus assembled have to be stored by the retailer so that they are held in reserve stocks out of which consumers requirements are met without any interruption by selling in small quantities.