Retail Trade — Chapter Summary
ICSE · Class 11 · Commerce
Summary of Retail Trade for ICSE Class 11 Commerce. Part of the ICSE Class 11 Commerce syllabus. Retail trade is the sale of goods in small quantities.
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Overview
Retail trade is the sale of goods in small quantities to final consumers for personal or family use. It is the last link in the distribution chain and connects wholesalers or producers directly with consumers. Retailers break bulk, sell in convenient quantities, and often provide services such as cr
Key Concepts
Retail trade means selling goods
Retail trade means selling goods in small quantities to the final consumer for personal or family use. Retailers buy in large quantities, break bulk,
Retailing has been defined by Cundiff
Retailing has been defined by Cundiff & Still, F.E. Clark & C.P. Clark, William J. Stanton, Mc Carthy, and James Stephenson as selling directly to the
Retailers buy goods in large quantities
Retailers buy goods in large quantities, sell mostly on cash, need less capital, deal directly with consumers, use window dressing, and bear risks suc
Retailers buy and assemble goods
Retailers buy and assemble goods, store them, grade and package them, extend credit to trusted customers, provide home delivery and after-sales servic
A successful retail business depends on
A successful retail business depends on suitable location, attractive display, variety of goods, adequate capital, credit facilities, honest dealings,
Learning Objectives
- Understand the meaning of retail trade and its main definitions
- Learn the important characteristics and functions of retailers
- Differentiate between wholesalers and retailers
- Classify the main types of retail organisations
- Compare small scale fixed shops, departmental stores, multiple shops, hypermarkets, and automatic vending machines
Frequently Asked Questions
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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