Question

Long answer type questions.

What do you mean by retailers? Explain the features of retailers.

Answer 1

A retailer is a person who purchases goods in large quantities from different manufacturers or wholesalers and sells them to the final consumers in relatively smaller amounts. They are said to be the last middleman in the chain or channel of distribution as they directly provide goods to the ultimate consumers.
The following are some of the characteristics of retailers.

1. They represent the final stage of distribution and act as a link between the manufacturer and the consumer.
2. They generally deal in more than one product, i.e. their range of goods varies from consumer durable goods to non-durable goods.
3. They generally operate in local markets that are located in residential areas.
4. The capital invested by them is relatively small compared to that invested by wholesalers.

They offer after-sales and customer-care services, provide the facility to buy goods on credit and display a wide variety of goods for selection.