Retail

Retail is the sale of goods or services from a business to an individual consumer. It is the last step in the supply chain, which begins with the production of goods and services and ends with the consumer. Retailers are responsible for the sale of goods and services to the public, and they are the ones who interact directly with the customers. Retailers can be found in physical stores, online stores, or both. Retailers can also be classified according to the type of goods or services they sell, such as clothing, electronics, food, and home goods.

History of Retail

Retail has been around since ancient times, when merchants would travel from town to town selling their wares. The first retail stores were established in the Middle Ages, when merchants would set up shop in marketplaces and sell their goods to the public. In the 19th century, the Industrial Revolution led to the development of large-scale retail stores, which allowed for the mass production and distribution of goods. This led to the emergence of department stores, supermarkets, and other large-scale retail stores. In the 20th century, the development of technology and the internet led to the emergence of online retail stores, which allowed for the sale of goods and services over the internet.

Comparison Table

Summary

Retail is the sale of goods or services from a business to an individual consumer. It is the last step in the supply chain, and retailers are responsible for the sale of goods and services to the public. Retailers can be found in physical stores, online stores, or both, and they can be classified according to the type of goods or services they sell. For more information about retail, you can visit websites such as Investopedia, The Balance, and Retail Dive.

See Also

• Wholesale
• Supply Chain
• Production
• Distribution
• Marketing
• Retailer
• Department Store
• Supermarket
• Online Store
• Consumer

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