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What is Retailing?
Retailing involved the selling of products and/or to consumers for their personal or family use. Major stores like Big bazaar, Central, Shoppers Stop, Lifestyle are examples of retailers. Service providers like hotels, salons, and online stores like flipkart.com are also retailers.
Retailing is important as it is the final link in the supply chain. What is called a ‘moment of truth’ happens at retail level where consumers interact with the retailer and make buying decision. Retailers have salespeople who can answer questions, display the products so that the consumers can see what is available, and see it before buying. Retailers make the whole buying process less monotonous and more fun.
Retailers add value to products by making it easier for manufacturers to sell and consumers to buy. In the absence of retailers, it would be time consuming for consumers to find a manufacturer to buy a product. It will also be very costly for manufacturers to find, locate and distribute their products to the end customer.
Also refer Channel of Distribution