Chapter 6 Wholesale And Retail Trade

Typically, the roof was constructed of glass to allow for natural light and to reduce the need for candles or electric lighting. Some of the earliest examples of shopping arcade appeared in Paris, due to its lack of pavement for pedestrians. While the arcades were the province of the bourgeoisie, a new type of retail venture emerged to serve the needs of the working poor. John Stuart Mill wrote about the rise of the co-operative retail store, which he witnessed first-hand in the mid-nineteenth century. The word retail comes from the Old French verb tailler, meaning “to cut off, clip, pare, divide in terms of tailoring” (c. 1365). It was first recorded as a noun in 1433 with the meaning of “a sale in small quantities” from the Middle French verb retailler meaning “a piece cut off, shred, scrap, paring”.

In fact, there were three retail workers for every worker in the wholesale industry in 2008. Processing incidental or subordinate to selling often is conducted at retail stores. Separate establishments selling merchandise for personal or household consumption which has been manufactured by other establishments of the same company are classified in Retail Trade. While digital technology adoption has brought innovation, specific retail formats such as convenience and franchise stores are growing significantly faster than others. The retail market for fast-moving consumer goods is highly affected by the rise of e-commerce and shifts in consumer behavior, such as an increasing demand for multiple delivery and collection options.

It ordinarily involves the selling of individual units or small lots to large numbers of customers by a business set up for that specific purpose. In the broadest sense, retailing can be said to have begun the first time one item of value was bartered for another. In the more restricted sense of a specialized full-time commercial activity, retailing began several thousand years ago when peddlers first began hawking their wares and when the first marketplaces were formed. In this category, Statista provides an overview of key indicators such as industry market value, number of enterprises and employment figures worldwide over several retail sectors.

Also find links to the most current info, facts, research, data, and trivia about the largest U.S. retail chains in this article. The 2012 Commodity Flow Survey shows that the wholesale trade industry shipped 3.8 trillion tons of raw materials and finished goods domestically, valued at $6.1 trillion, and accounting for 723.2 billion ton-miles. Trucks carried 81.8 percent of the tonnage shipped by the wholesale industry, 78.2 percent of the value, and accounted for 55.4 percent of ton-miles. The wholesale trade industry, however, tended to use modes other than truck to ship goods long distances.

For the most part, establishments engaged in retail trade sell merchandise to the general public for personal or household consumption. Exceptions to this general rule are lumber yards; paint, glass, and wallpaper stores; typewriter stores; stationery stores; and gasoline service stations which sell to both the general public for personal or household consumption and to businesses. These types of stores are classified in Retail Trade even if a higher proportion of their sales is made to other than individuals for personal or household consumption. The retail format influences the consumer’s store choice and addresses the consumer’s expectations.