The products involved in home trade
Answers
Answer:
) Retail Trade
Retail trade involves the buying of goods and selling them to the final consumer.
A retailer is the trader who buys goods with a view of selling them to the final consumer.
Classification of Retail Traders
Retailers are classified/categorized according to the amount of capital they need to start and operate their businesses and their sales volume.
Thus retailers can be classified as;
i) Small scale retailers
ii) Large scale retailers
i) Small-scale Retail businesses/small scale Retailers
These are retailers whose capital
requirement is low and their sales volume also low.
They form the majority of retail traders and all found in all parts of the country.
Small scale businesses are easy to start and in most cases they are operated as one-man’s business.
A small scale trader serves the needs of people in the immediate neighbourhood and deal mainly in fast moving goods such as foodstuffs, detergents, kerosene e.t.c
Categories and Types of small scale
These are two main categories of small-scale traders as shown below;
a) Small scale Traders without shops
-Itinerant Traders (Hawkers and peddlers)
-Roadside sellers
-Open air market Traders
b) Small scale retailers with shops
-Single shops -Tied shops -Kiosks -Mobile shops
-Market stalls -Canteens -Mail order stores
a) Small scale Retailers without shops
i) Itinerant Traders
These are retailers who move from place to place selling their goods either on foot, by bicycles or motor cycles -They move from town to town, door to door and from village to village selling their goods.
Their goods may include clothes, utensils and foodstuffs.
Customers can buy goods without having to travel to look for them
-Examples of itinerant traders are hawkers and peddlers (Hawkers move around on bicycles, handcarts or motorcycles while peddlers walk around)
-The itinerant traders require a licence from the local authorities in order to sell their goods.
Characteristics of itinerant Traders
i) Are found mainly in densely populated areas
ii) Move from place to place in search of customers
iii) They are very persuasive
iv) Their prices are not controlled.