Meaning of Retail trade

What is Retail trade

 

This post explains about Retail trade and types of Retail trade. 

Retail trade:

Retail trade is defined in the International Standard Industrial Classification (ISIC) as the re-sale (sale without transformation) of new and used goods to the general public, for personal or household consumption or utilisation.

Retail trade includes the following

  • non-specialised retail trade in stores;
  • retail sale of food, beverages and tobacco in specialised stores;
  • other Retail trade of new goods in specialised stores;
  • retail sale of second-hand goods in stores;
  • retail trade not in stores.

Retailers are business firms engaged in offering goods and services directly to consumers. In most—but not all—cases, retail outlets are primarily concerned with selling merchandise. Typically, such businesses sell individual units or small groupings of products to large numbers of customers.

Types of Retail Trade

  • Itinerant and small-scale fixed shops: Itinerant retailers are the type of sellers you see at markets or in busy streets. They may not have a permanent location to sell their goods, instead relying on open and available spaces. Fixed shops, on the other hand, have a permanent location you can visit during set business hours. Examples: Street traders, food cart/food truck owners (itinerant); a pharmacy, a shoe store (fixed)

 

  • Department store: A department store is a larger retail location that carries many different types of goods under one roof, generally divided into different departments, such as housewares or bedding. Examples: Big Bazaar, Shoppers Stop, Lifestyle

 

  • Chain store: Chain stores share the same basic design, layout and products, as well as name, and are located across the nation or world. Chain stores are owned by the same company, so they are recognizable from one location to the next. A department store might be part of a chain. Examples: Central, Brand Factory, Planet Sports

 

  • Mail-order houses: Mail-order houses help to sell or process advertising or orders for a business that operates through a catalog or mail orders. Goods are delivered to consumers through the mail system, rather than being purchased in-store. This could include goods purchased from a popular catalog received in the mail.

 

  • Teleshopping: Since mail-order allows you to buy and receive goods through the mail, teleshopping allows you to buy goods via telephone or an Internet link and have them delivered to your house.

This post describes about Retail trade and types of Retail trade.   Comment below your thoughts about this post Retail trade and types of Retail trade.


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers