Question

What is Retail Trade ? Explain functions of Retail Trade.

Answer 1

Answer

Warehousing and store keeping helps in ensuring uninterrupted availability of the goods to the consumers. The primary function of a retailer is selling the products to the customers for which various techniques or business practices are being adopted by the retailer to achieve the strategic goals.

Answer 2

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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