Question

what do you consider retailing

.what do you believe is the primary role of the retailer

what social and economic significance does retail play overall in the world of business

Answer 1

Retailing can be seen as the process in which consumer goods and services are provided to the customers with the help of various distribution channels in order to earn some profits. The demand which is identified with the help of supply chain is fulfilled by retailers.

The main roles of the retailers are as below:-

Providing the consumer products and services to the customers

Facilitating the goods to the customers in smaller quantities by breaking the bulk quantities

Having a close interaction with the customers.

Facilitating the current trends and demand of the customers to the producers

To take the risk of storing the products

The retailer has a very important role in the societal and economic context. As far as serving society is concerned, the retailer fulfills the demand of the customers and plays a major role in facilitating those products which can fulfill the distinctive demand of different customers. By providing information about the products in demand of the producer, the retailer helps in greater satisfaction of the customers.

At the economic front, a lot of job opportunities are created by retailers. The retailing has a major contribution in the GDP of any economy, In fact, some of the countries are having almost 20-30% contribution of retailing in the total GDP.