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SS1: ECONOMICS - 3RD TERM

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  1. Mining | Week 1
    3 Topics
    |
    1 Quiz
  2. Financial Institution I | Week 2
    7 Topics
    |
    1 Quiz
  3. Financial Institutions II | Week 3
    5 Topics
    |
    1 Quiz
  4. Financial Institutions III | Week 4
    5 Topics
    |
    1 Quiz
  5. Business Organisation | Week 5
    3 Topics
  6. Money | Week 6
    5 Topics
    |
    1 Quiz
  7. Channels of Distribution I | Week 7
    5 Topics
    |
    1 Quiz
  8. Channels of Distribution II | Week 8
    6 Topics
    |
    1 Quiz
  9. Business Finance | Week 9
    7 Topics
    |
    1 Quiz



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Who is a Retailer?

A retailer can be defined as a trader who buys goods in small quantities from a wholesaler or directly from the manufacturer and sells in units to the public or final consumer. The wholesaler plays an intermediary role, he falls in the middle of the chain of distribution.

Types of Retail Trade:

1)  Large Scale Retail: Departmental stores, Multiple Stores, Supermarkets etc.

2) Small Scale Retail: Street Retailing, Vendors, Hawking etc.

(i) Hawking: In this type of trade, goods are carried from one place to another either on the head or canoes or in carts.

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(ii) Market Place Retailing: This is a method whereby retail traders come together in a common place to sell goods. Each trade has its own stall or shed.

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(iii) Street Retailing: This usually involves retail traders who display their goods along major streets in the city.

(iv) Departmental Stores: In a departmental store different stores are established to sell different goods in a big building with the same management that controls and monitors them.

(v) Supermarkets: A supermarket is where self-service sales are usually practised. it is a retail outlet with large varieties.

Functions of the Retailer:

(i) He Provides a Variety of Goods: The retailer buys and stocks a variety of goods in order to satisfy the different tastes of the customer.

(ii) Sells in bits to customer.

(iii) He brings the goods nearer to the customer.

(iv) He gives credit facilities to customers by operating the system of booking me down.

(v) He Advises the Customer: He is in the position to advise the customers on how to use certain goods, especially those that require technical knowledge.

(vi) He Completes the Process of Production: The retailer does this by taking the goods to the consumers since production is not complete until goods get to the final consumer.

(vii) He introduces new products to the final consumer.

(viii) He renders after-sales services i.e. repairing or installing in the area of electrical appliances.

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