question_answer

Enumerate the features of retail trade.

Answer:

Ans.     A retailer is a business enterprise that is engaged in the sale of goods and services directly to the ultimate consumers. It has following features:

1. A retailer is the intermediary between wholesaler and the ultimate consumer. He is the last link in the chain of distribution.

2. A retailer buys goods from wholesalers and sells them in small quantities to ultimate consumers.

3. He maintains personal contact with his customers.

4. Generally, a retailer deals in a wide variety of goods.

5. He performs various marketing functions and displays goods to attract customers.

6. A retailer usually buys goods on credit and sells on cash basis.

7. Retail shops are generally situated near to customers.