Retailers

Retailers can be online and offline businesses that resell goods to consumers. Retailers are at the end of the supply chain and resell through a shop or website to end users for a profit.

Retailers can resell products from all industries including food, fashion, beauty, technology and many more, making it one of the largest industries globally.

Retailers resell consumable or non-consumable products. Consumables may be either unprocessed (e.g. Fresh vegetables/fruit), or processed (e.g. Sweets, beverages, tinned etc.). The non-consumables then fall into hard goods (e.g. electrical appliances, furniture) or soft goods (e.g. clothing, software, services).

Retailers include small independent shops, giant chains, warehouses or discount retail outlets. Retailers can also be internet stores which either stock products, or deliver them from third parties’ on a ‘dropship’ basis.

Retailers may be industry specific such as fashion retailers or they may have a range of products such as in department stores or supermarkets.

Retailers will often target a specific customer demographic based on age, location or budget.

The retail industry is driven by profit. Retailers buy wholesale from suppliers, distributors and wholesalers, and add their margin before reselling to their consumers.

Retailers add value by displaying a variety of goods in one place. Retailers have good product knowledge and provide advice and customer service to consumers. 

Retailers continually update products to supply what consumers are interested in buying. Retailers  ensure that new consumer trends are catered for by finding new, different or better suppliers for their categories of products.

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