What Is Retail? Defining Types Of Retailers & The Role Of Retailing

Supermarkets, gas bars, drug stores, furniture outlets, “mom and pop shops”, hardware stores, car lots, mobile home dealers, and garden centres are only some of the many types of retail businesses. This industry also includes “big box” retailers such as office supply and computer stores, and retailers of building materials, plumbing, and electrical supplies. Transportation services were the second most important input for the wholesale and retail trade sector to produce one dollar of output. A significant amount of warehousing and other transportation services (parcel delivery, courier, and messenger services excluding U.S. Postal Service, transportation support activities such as freight loading, etc.).

At its most basic level, a retail format is a simple marketplace, that is; a location where goods and services are exchanged. Many of these large retail chains also produce their own private labels which compete alongside manufacturer brands. Considerable consolidation of retail stores has changed the retail landscape, transferring power away from wholesalers and into the hands of the large retail chains. In Britain and Europe, the retail sale of goods is designated as a service activity. The European Service Directive applies to all retail trade including periodic markets, street traders and peddlers. This industry is the largest employer in BC, providing just over 15% of all the jobs in 2008 and generating 12% of the province’s total GDP.

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They cater to walk-in traffic, so they’re often located in city centres or suburban areas. No report on the U.S. retail industry would be complete without a mention of December 2007, which marked the official beginning of the most massive global retail recession since the Great Depression. Brick-and-Mortar Store Retailers– Those engaged in the sale of products from physical locations which warehouse and display merchandise with the intent of attracting customers to make purchases on site. Of the world’s 10 largest retail companies in the world, five of them are from the US and five are from Europe, according to the 2015 Global Powers of Retailing rankings.

Although catalogue sales had been used since the 15th century, this method of retailing was confined to a few industries such as the sale of books and seeds. However, improvements in transport and postal services led several entrepreneurs on either side of the Atlantic to experiment with catalogue sales. Retailers are business firms engaged in offering goods and services directly to consumers. In most—but not all—cases, retail outlets are primarily concerned with selling merchandise.