Retail And Trading Satisfies Demand Identified By A Supply Chain

 

 Retail And Trading Satisfies Demand Identified By A Supply Chain

Retail and trading is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. Retail and trading satisfy demand identified through a supply chain. The term "retailer" is typically applied where a service provider fills the small orders of a large number of individuals, who are end-users, rather than large orders of a small number of wholesale, corporate or government clientele. Shopping generally refers to the act of buying products. Sometimes this is done to obtain final goods, including necessities such as food and clothing; sometimes it takes place as a recreational activity. Recreational shopping often involves window shopping and browsing: it does not always result in a purchase.

Retail traders are kind of like consumers (all of us) at a retail store. We walk around and look for things to buy. If the products are on clearance, we think “wow! What a deal! 75% off !!!” Everyone knows that the store is still making money off the product that they’ve “discounted by 75%”. Whether we buy at full retail price or clearance, the store is making money regardless. We are the “dumb money”. The retail and trading store in this analogy are the institutional buyers who buys the goods and investment vehicles in bulk for cheap like Wal-Mart.

Most modern retailers typically make a variety of strategic level decisions including the type of store, the market to be served, the optimal product assortment, customer service, supporting services and the store's overall market positioning. Once the strategic retail plan is in place, retailers devise the retail mix which includes product, price, place, promotion, personnel and presentation. In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar and online retailing. Digital technologies are also changing the way that consumers pay for goods and services. Retailing support services may also include the provision of credit, delivery services, advisory services, stylist services and a range of other supporting services.

Different types of retail and trading operations are the following:

•Itinerant and fixed shops.

•Department stores.

•Chain stores.

•Mail-order houses.

•Teleshopping.

•Franchises.

•Consumer cooperative stores.

•Hypermarkets

Retail and trading markets and shops have a very ancient history, dating back to antiquity. Some of the earliest retailers were itinerant peddlers. Over the centuries, retail shops were transformed from little more than "rude booths" to the sophisticated shopping malls of the modern era.