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

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Explanation:

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.

Retail is the final step of the distribution channel. the retailer will buy the goods from the wholesaler, or sometimes directly from the producer, in bulk (large quantities) at a discounted price. And then it sells the goods to the final consumers of the goods, in small units or quantities, at retail price enjoying the benefits in the process.

Features are ☑️

1. Final link in the distribution of goods

2. Personalized selling efforts

3. Permit economise of scale

4. Source of market information