Meaning of retail (what is it, concept and definition)

What is Retail:

Retail is an English word that is used to refer to retail trade, that is, the sale of products to the final consumer. In Spanish it is known as retail, retail, retail or retail.

Originally, the expression retail involves all the businesses that provide direct sales services to the final consumer of the products, such as groceries, supplies, bookstores, haberdasheries, clothing stores, etc.

However, the use of the word today is specifically associated with large retail distribution chains, such as supermarket chains, department stores, pharmaceutical chains, decoration and hardware product chains, etc.

These retail models require logistics that involves a warehouse or distribution center that supplies the stores, adequate transportation, and a physical distribution channel, such as independent stores or shopping centers. But the retail sector is currently facing a challenge, represented by the presence of telephone sales and online sales.

Until the emergence of these new trading schemes, retail chains have based their business on buying in bulk to retail, extracting as much profit as possible.

However, digitized sales have challenged these models and have become a threat. Thus, different retail companies have had to adapt to new marketing and sales models in order to survive.

Types of retail

Supermarkets

It meets the needs of food and basic products for the home, distributing in high volumes, which helps in reducing the final cost.

Department stores

They are stores that offer a variety of items, such as household items, clothing, sporting goods or furniture. Each item is managed as an autonomous department.

Specialty stores

They are the specialized stores in a single item. For example, sports shops, flower shops, bookstores, etc.

Convenience stores

These are small shops that are open every day of the week, in order to help quickly solve punctual and frequent needs of any kind. They are usually located in residential areas.

Discount stores

They are stores that, due to the high volume of merchandise they handle, base their business strategy on the policy of discounts.

Reduced price retailers

They are companies that sell products at a lower price than the normal detailed price, because they acquire discontinued, surplus or defective merchandise. They are also known as outlet .

Superstores

Large stores that sell various routine consumer items. For example, pharmacy chains with integrated sales of food, cleaning supplies and stationery.

Retail sector

Retail sector refers to the set of all direct sales businesses to the public, whether in urban stores, stores within shopping centers or in warehouses.

Retail stores

A retail store is the specific establishment where it is sold directly to the public. For example, a shoe store, a supermarket, a hardware store.

V

Sale retail refers to the sale of products or services made directly to the public. Selling a computer at a tech store, for example, would be a retail sale.

Retail

It is understood that the retail sector is oriented to a massive group of consumers to whom it sells products in detail from its stock . For example, a supermarket chain.

On the contrary, a wholesaler or wholesale in English sells massive quantities of certain products to few customers. For example, chains for wholesalers such as Makro or any merchandise supplier that has stores and chains as customers.