As listening the word commerce it comes in our mind that it is something related the business or social dealings with person to person, now we will find out in this article what’s the retail commerce.
Let’s try to describe it. The word retail is a French word that means “To Cut Again”. This meaning makes it very easy for us to understand that retail commerce means “to buy the products in small quantities and sells them to consumers.”
Now Let us try to understand through an example.
”Biff wanted to buy a power bank for himself. He went to the local market and purchased the good quality power bank in cheapest price.
Here Biff is buyer who went to the local market. He purchased only one power bank for his personal use. It’s an example of retail.
AND the shopkeeper must have shown him few options to select one according to his desire and need. This is Retail Commerce.”
There are few functions of retailers. For Example
The retail e-commerce website or showroom has large variety of products of different and same kinds and also of different quality both from the local market and the foreign market. So that the consumer or buyer can select any product of their own choice.
A person who sells at retail price probably is the final seller of a product. The retailer purchases from wholesalers and sales to the customers directly. They can select variety of products at the same time.
Small retailer sometimes may also give advice to their regular and final consumers to buy a specific band which will be better in quality or can be cheaper from others.
On the other hand retailers can also advice to the wholesalers or manufacturers about the reviews of the customer for the specific product. That can help them to improve the quality of their product.
There are two types of retail commerce those are Large Scale Retailers and Small Scale Retailers. Large Scale Retailers are Chain Stores, Supermarkets, Departmental Stores, Shoes Markets, Hypermarkets or Other Branded Products. On the other hand Hawkers, Mobile Shops, Electronics Shops, Garments Shops and So on are falls in the category of Small Scale Retailers.
The retailer whether he works on large scale or small scale, he will be the main link between wholesaler and consumer because a retailer buys from the wholesaler in bulk and sells to the consumers on their desired small quantity that can even be the single piece. The retailers have to make their own personal contacts. Retailers provide maximum satisfaction to their consumers.
In short the success of retailer is based on the Location, Prices, Sales Promotions, Good Quality Services, Efficient Management, Proper and Orderly Managed Products, bearing the risk of physical damage of goods and packaging. The style of display of products at the retail store are the most important to fetch the customers such as floor displays, end caps, or aisle violators. The retailer must make sure that the products which are displayed are according to the season and latest trends.
Bella is an active contributor on the subject of social media and currently working as content analyst and senior editor with http://www.theonespy.com/. She love taking on latest trends and IT-related areas.