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Retail

Retail consists of the sale of goods or merchandise from a fixed location, such as a department store , boutique or kiosk , or by mail , in small or individual lots for direct consumption by the purchaser. [1] Retailing may include subordinated services, such as delivery. Purchasers may be individuals or businesses. In commerce , a "retailer" buys goods or products in large quantities from manufacturers or importers , either directly or through a wholesaler , and then sells smaller quantities to the end-user . Retail establishments are often called shops or stores. Retailers are at the end of the supply chain . Manufacturing marketers see the process of retailing as a necessary part of their overall distribution strategy. The term "retailer" is also applied where a service provider services the needs of a large number of individuals, such as a public utility , like electric power

Shops may be on residential streets, shopping streets with few or no houses or in a shopping mall . Shopping streets may be for pedestrians only. Sometimes a shopping street has a partial or full roof to protect customers from precipitation . Online retailing, a type of electronic commerce used for business-to-consumer (B2C) transactions and mail order , are forms of non-shop retailing.

Shopping generally refers to the act of buying products. Sometimes this is done to obtain necessities such as food and clothing; sometimes it is done as a recreational activity. Recreational shopping often involves window shopping (just looking, not buying) and browsing and does not always result in a purchase.

Retail is usually classified by type of products as follows:

• Food products
• Hard goods ("hardline retailers") - appliances, electronics, furniture, sporting goods, etc.
• Soft goods - clothing, apparel, and other fabrics.

There are the following types of retailers by marketing strategy

Department stores , Discount stores , Supermarkets , Warehouse stores , Variety stores , Specialty stores , General store , Convenience stores , Hypermarkets , Malls, E-tailers , Vending Machines

Retail pricing:

The pricing technique used by most retailers is cost-plus pricing . This involves adding a markup amount (or percentage) to the retailer's cost. Another common technique is suggested retail pricing . This simply involves charging the amount suggested by the manufacturer and usually printed on the product by the manufacturer.