Question

what do you understand by retail trade?explain four features of retail trade​

Answer 1

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Retail trade consists of selling merchandise in the state that it is purchased (or after minor transformations), generally to a customer base of private individuals, regardless of the quantities sold.

The following are the features of Retail Trade are as follows :

• Trading in small Quantity :- ...

• Trade Restricted to Local Areas :- ...

• Wide Variety of Goods :- ...

• Convenience to customers :- ...

• Limited Capital :- ...

• Limited Risk :- ...

• Limited Staff :- ...

• Personal Attention to consumers :-

Answer 2

Answer:

4 features of retail trade:

1) Trading in small Quantity :-The retailer normally buys in somewhat large quantities from the wholesalers and sometimes even from the manufacturers.

2) Trade Restricted to Local Areas :-The retailers normally sells in a particular local area. This is because most retailers own only one store in a particular locally. His trading activities are confined to that particular local area.

3) Wide Variety of Goods :-The retailers may deal in a wide variety of goods. For instance, a shopkeeper may stock cosmetic, stationery, dry fruits, toiletries, tea, biscuits, etc. However , there are retailers who deal in only one line of goods. For instance a cloth retailers may deal only in cloth.

4) Convenience to customers :-

The retailer offer lot of convenience to the consumers. He provides variety of goods under one roof. secondly, he sells in any quantity which consumer demands and thirdly the retail stores are within easy reach of consumers, i.e. many a times, within the vicinity of their residence.