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Retailing refers to the business activity of selling goods or services directly to consumers1. It is often contrasted with wholesaling, which typically involves selling in large quantities at lower prices1. Retailers frequently buy in bulk from wholesalers, then repackage the merchandise for individual sale1. The profit of a retailer is partly based on the difference between the wholesale and retail prices of the merchandise bought and sold1.
Retailing is extremely competitive, with multiple factors influencing success, including price, convenience of location, efficient delivery systems, selection and display of merchandise, promotions and special offers, attractiveness of the retail establishment, and branding and reputation1.
The rise of the internet has led to the emergence of e-commerce, shifting a significant portion of retail activity from physical stores to online platforms1. This allows consumers to purchase products via personal computers, mobile phones, and other online devices1.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.www.britannica.com/money/retailingwww.merriam-webster.com/dictionary/retailingwww.dictionary.com/browse/retailing- People also ask
What Is Retail? A 2024 Small Business Guide
Simply put, retailing is the act of selling goods directly to the end user (customer). A retailer is the performer of this action (retailing). How Retail Works. Retail works from a supply chain consisting of major players—manufacturers, wholesalers, retailers, and consumers. See more
Retail works from a supply chain consisting of major players—manufacturers, wholesalers, retailers, and consumers. The retail supply chain covers the distribution of products from production … See more
There are many retail types out there, especially as the term has become more flexible and encompassing. However, the following are … See more
The retail industry supports 52 million jobs in the US—about one in four American jobs is supported by retail. Part-time work plays a crucial role in … See more
Retailers make money by procuring large quantities of a product at a lower price from a wholesaler or manufacturer and then selling it to the general public (consumers) at a … See more
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