Retail Trade — Flashcards

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Retail trade is the sale of goods in small quantities to the final consumers for personal or family use. Retailers are the last link in the distribution chain because they connect goods to the final b…

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The word retail comes from the French word retaillier, meaning to cut again. It describes the idea of breaking bulk and selling goods in smaller amounts.

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Retailers are called the last link because they sell goods directly to final consumers. The goods pass through them before reaching the person who uses them for personal or family needs.

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Retailing consists of those activities involved in selling directly to the ultimate consumer. This shows that retailing is focused on direct sale to final buyers, not to other traders.

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A retailer is a business firm which sells primarily to ultimate consumers. This means the retailer mainly serves the final buyer in the market.

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Retailing includes all activities directly related to the sale of goods or services to the ultimate consumer for personal non-business use. The emphasis is on direct sale to consumers for personal use…

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Retail trade has several features: retailers buy in large quantities and sell in small quantities; they generally buy on credit but sell mostly on cash; they need less capital than wholesalers; they a…

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Retailers buy in bulk to get goods from wholesalers and then break bulk for consumers. Consumers usually need smaller amounts according to need and buying capacity, so retail sales are done in small q…