Retail is the sale of goods and services to the public, usually in small quantities, for their own consumption. It is the exchange of a product or service for money, and it can be done through various sales channels, such as online, in a physical store, through direct sales or by direct mail. The distinguishing factor of a retail sale is that the end user is the buyer. Retailing is the last step in the supply chain for a product.
A wholesaler is a person or company that sells products in bulk to various outlets or retailers for later sale, either directly or through an intermediary. This allows them to offer their products at a lower price, since they sell in bulk and reduce handling time and costs. In today's marketing world, there are many types of retail stores and many others that provide them with goods and services. Generally, there are two main ways to sell your product: either as a wholesaler or as a retailer.
At the end of the retail analysis, retailers must have a clear idea of which customer groups are going to be the target of marketing activities. You control the retail price, where your product is viewed, how it is presented, and what other products are shown along with it. Retailers can opt for a format, as each offers a different mix of retailers to their customers depending on the demographics, lifestyle and buying behavior of their customers. To maximize the number of sales opportunities, retailers generally want customers to spend more time in a retail store.
The Cambridge Dictionary definition of retail is the sale of goods to the public; to further clarify, non-retail sales apply to sales of products made by a seller to a buyer without using a retail outlet. Retail transactions should not be confused with online transactions; goods must be sold from a single point directly to a consumer for their end users. Once the strategic retail plan is in place, retailers design the retail mix that includes product, price, location, promotion, staff and presentation. B2B marketing targets outlets that sell products to consumers, so you need to focus more on experience and service; B2C sales are designed to meet consumer needs and satisfaction.
The main product-related decisions faced by the retailer are the product range (which product lines, how many lines and what brands to offer); the type of customer service (from high contact to self-service) and the availability of support services (for example, when developing its strategy of retail, you can decide for yourself at what price you are going to sell products and with what profit margin).Specialty retailers only sell certain items from one brand, such as Kate Spade or Reebok; you're unlikely to find other brands in these places, though there are exceptions. The terms “non-retail” and “direct selling” are often used interchangeably, but Market Business News reports that out-of-store retail occurs outside physical locations, such as supermarkets. As a direct shipper, you get the benefits of retail sales (such as a specific brand and a direct line to the customer), while a specialty retailer takes care of the initial part.Several academics have advocated expanded marketing combined with the inclusion of two new P's: staff and presentation. These contribute to the customer's unique retail experience and are the primary basis for retail differentiation.