What is the difference between wholesaler and retailer
Answers
Wholesalers are basically traders who purchase goods and services from manufacturer and sells to the retailers and other traders or businesses.
Retailers are businesses which sell different types of goods and services to final consumers in small quantities.
Explanation:
In Business or Economics,wholesalers are referred to as traders who usually buy large quantities of goods and services from producers or manufacturers and sells to other retailers,middlemen and businesses.Wholesalers basically engage in large scale trading and business transactions for a relatively lower commodity prices.A wholesale business usually deals with limited product/commodity types and varieties does not require much capital and marketing or advertising.
On the other hand,retailers sell many variety and types of goods and services to final consumers at a relatively higher price.A retail business requires a significant capital investment and marketing or advertising for public promotions.The volume of trading and business transaction by a retailer is much smaller compared to wholesale businesses and so is the geographical area of operation.