Retail means sale of finished goods to public for the purpose of consume rather than resale, retail is done from a fixed location like department store, boutique and mall or a small shop, retailing includes services like selling goods, delivering goods and purchasing goods from an individual or a business. In the language of commerce we can say that retailing is processed in that retailers can purchases goods from a manufacturers or importers, even directly or through wholesaler and selling them to the end user/consumer. Retailing is established in the form of shops and stores. Retail is the end of supply chain because after it goods are delivered to the consumers.
Retail shops may be on residential street, market where few or no residential buildings are built and shopping mall where consumers do shopping the term shopping means buying goods for consumption purpose only, street shops markets are open roof market is small in size sometimes are covered to provide comfort to customers.
In today's technical world retailing are done online to saving time and providing more convenience to customers, customers can buy goods of all types at one place even from their offices they can buy goods this type of retailing is called as non-shop retailing.
Retail outlets are divided in several types as-per their products/ targeted customers and market strategy.
List of markets as-per product and consumers
1. Food Market (wheat, milk, rice, sugar and other food items).
2. Hard Market (electronics appliances, sports goods, furniture and household things etc).
3. Soft Market (fabrics, clothes and apparels).
List of markets as-per market strategies
1. Department stores:- large stores offering large number of products of all types like food items soft items even hard items. IT covers all kinds of customers and even provides some specialty market mean selling in some special products which are deals in certain products which, is used by that particular purpose for an example pet food, branded stores.
2. Discount stores: - These stores are selling large number of products and services at discounted services these markets are less fashion oriented markets due to that they provide discount to their customers they targeted some specific group of customers.
3. General Store: - these stores are basically in rural area which provides basic needs of their customers (local community).
4. Malls: - Mall is consisting of small shops under one roof/outlet all types of good available there.
Specialty Store: - these types of stores deals in one type of special product like pet shop deals in pet food and things related to pets however, branded stores are also part of this
1. Retail market for example a customer goes to buy shoes from a Puma store they find just puma product not related any other brand.
2. E-Retail: - these retail markets are online markets where customers buy goods well online on the internet.
3. Vending machine is also a retail shop where customers insert money get product for consumption.
Retail is a very important part of supply chain because it can improve business of any product by choosing correct type of its market any way to retailing.
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Retail Ireland.
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