Question

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

Answer 1

$\huge\bold\color{aqua}{Answer}$

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

Retail Trade:-

Retail trade is the business activity associated with the sale of goods to the final consumer, the ultimate customer. It is the link between wholesalers or manufacturers and the customers of the product. Typically retailers sell goods in small quantities to consumers for personal use, not for resale or business use.

1. Generally, a retailer deals in a wide variety of goods.
2. He performs various marketing functions and displays goods to attract customers.
3. A retailer usually buys goods on credit and sells on cash basis.
4. Retail shops are generally situated near to customers.