Retailing

Retailing is defined as a conclusive

set of activities or steps used to sell
a product or services to consumers
for their personal or family use
A retailer is a person
,agent,agency,company or
organization which is instrumental in
reaching the goods,merchandise,or
services to the ultimate consumer.

Retailing has become such as

intrinsic part of our everyday lives
that it is often taken for granted.
The nations that have enjoyed the
greatest economic and social
progress have been those with a
strong retail sector.

Characteristics of retailing
There is a direct interaction with
customers
Lower average amount of sales
transaction
Point of purchase Display and
Promotions
Sales at retail levels are generally in
smaller unit sizes.
Location is a critical factor in retail
business.

Characteristics of retailing
There is a direct interaction with
customers:

They act as intermediaries

between end users and suppliers
such as wholesalers or
manufacturers.
This helps the manufactures and
marketers to redefine their product
and change the components of its
marketing strategy accordingly.

Lower average amount of sales

transaction:

Many consumers buy products in

small quantities for household
consumption.
The small amount also means that
the retailer has to keep a tight
control on cost associated with each
transaction in the selling process.
One way to resolve this is for the
retail outlets to be able to attract the
maximum ppossible number of

Point of purchase Display and

Promotions:
Display,point of merchandise,store
layout,catalogues are important in
retailing to be effective.
A significant relevant chunk of retail
sales comes from unplanned or
impulse purchases.
A lot of retail products are low
involvement in nature,impulse
purchases of the shopper is a vital
area that every retailer must tap
into.

Large number of retail business

units:
Location of retail stores play an
important role compared to other
business units.
Manufactures decide the location on
the basis of availability of factors of
production and market.
Similiarly,retailers consider factors
like potential demand,supply of
merchandise,store-image related
factors in locating the retail outlet.