A retailer can provide credit facilities and heavy cash discounts on the purchase of different products to the customers. Characteristics of Retailing Retailers are referred to as middlemen or intermediaries. Retailers can provide additional services like free home delivery or after sales services. Retailers make clear propositions of their retail offer. A retailer performs the crucial function of grading for all those goods which at times are either left ungraded by the wholesalers or manufacturers so that the customers readily accept the goods. Retailers purchase and maintain a stock of those products which are mostly demanded by the customers. Noteworthy characteristics of the African retail market. Retailers are referred to as middlemen or intermediaries. The retailers perform the functions of warehousing and storing. The characteristics of retailers are listed below. Another recent study in marketing considers market characteristics such as number of competitors, average price and product popularity . Classification of Retailers on the Basis of Ownership Sole Proprietorship: This constitutes the majority as many small business ventures start on a sole proprietorship basis only. A change in customers buying preferences or tastes can also affect the retail business to a great extent, or even the products may be damaged due to the natural calamities or vagaries of nature. While not every characteristic needs to be present to indicate a potential shrink problem, multiple concerns are quite customary as high-shrink indicators in the retail environment. The responsibility of a retailer is to identify the most economical source for obtaining the goods from the suppliers and passing on the advantages to the consumer. The statistics convincingly reveal how fast the retail industry has grown and paved the path for expansion of business as well as employment opportunities. Retailers act as a vital channel for the launch of new products in the market as they are the direct interface with the consumers and can communicate directly with the targets consumers about the new product features and advantages. Crucial information related to the changes in the buying preferences of the customers, their experience with the usage of the products, feedback on the prices and quality of the products is passed on to the wholesalers. A Retailer ensures ready stock availability of goods for the customers in sufficient quantities and sells the goods to the customers as per their quantity specifications. A retailer ensures availability of a wide variety of choices of products for the customers by keeping different varieties at various prices and also different brands as well. Customers feel comfortable as the retailers provide convenience in terms of location of the shop, types of payment and different credit facilities for purchasing, range of merchandise and after-sales support, etc. Tier-II cities are already receiving focused attention of retailers and the other smaller towns and even villages are likely to join in the coming years. This study indicates the widespread retail availability of tobacco and the need for a mandatory system of registration for better enforcement of smokefree legislation. 1. They occupy a middle position, receiving and gassing on products from producers and wholesalers to customers. It keeps growing by moving retail operations into new markets. Recently, the impact of e-retailing has received considerable attention. They store the goods in bulk and make them available as per the requirement of the consumer. The list of great customer characteristics continues when looking for retail employees for your store, but among the checks you want to cross off on your employee check list should include the following: 1. A retailer essentially maintains a variety of merchandise. Retailer supports the wholesaler by acting as a channel for distributing the goods to the customers. Innovative methods of thinking and planning: Successful retailing requires innovative methods of thinking and planning. He thus performs two functions like buying of goods and assembling of goods. This is a positive trend, and the contribution of these tier-II cities to total organized retailing sales is expected to grow to 20-25%. School. Retailers perform a number of functions. In the limited channel, a retailer works directly with the producer. The answer lies in the characteristics that these retailers share – regardless of industry sector, strategy and context. Retailers act as a major source of funding for the wholesale trade by placing the orders and making payments in advance to the wholesalers for those goods. The characteristics of retailers are listed below. Relationship with the customers –Retailers form a bond with the customers and help them decide which products and services they sho… Various kinds of risks can be involved in a retail business which a retailer should be well prepared with like loss or damage of the products due to deterioration in quality, perishability or spoilage. Their scale of operations is tilted more to serve sophisticated consumers. In the case of sole proprietorship, the ownership of the business exists with a single person, usually the one who is responsible for the day to day affairs of running the business. Retailers are a valuable source of information and feedback for the wholesalers who in turn pass on the same information to the producers of the products. As a result of which, retailer always runs the risk of accumulating bad debts on account of non-payment of the amount from the consumer. Retail marketing therefore, requires different types of decisions to be made in the complexity of the situations. In the fast changing globalized and a technology-driven business world, Retail industry over last few decades has witnessed a sea change. Spatial characteristics. Right environment: A retailer has to create the right environment, offer additional advantages and value or loyalty schemes in order to ensure that the customer is offered a comprehensive package of benefits. Management Study Guide is a complete tutorial for management students, where students can learn the basics as well as advanced concepts related to management and its related subjects. These are: The retailer buys a variety of products from the wholesaler or a number of wholesalers. 1. 5 characteristics of e-commerce in retail by Azahara 10/Jan/2019 The initial mistrust of buying on the Internet has almost disappeared and e-commerce continues its growth unstoppable.
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