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

Explanation:

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.

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.